Halozyme Therapeutics yields strong results in Q1
SAN DIEGO Halozyme Therapeutics reported significant product development progress in its first quarter 2009 financial results, released Friday.
The San Diego-based drug maker of endocrinology, oncology and dermatology drugs said its progress included two new phase 1 trials, one with Roche and another for PEGPH20, a drug designed to treat refractory cancer patients.
“We anticipate advancing additional clinical studies during the course of 2009 and will present interim results from our phase 2 insulin-PH20 study in Type 1 diabetic patients in early June,” Halozyme president and CEO Jonathan Lim said.
Net losses for the company were $14.7 million, compared with $10 million in first quarter 2008. Revenue was $2.8 million, compared with $1.8 million during the same period last year.
Research and development expenses increased to $14 million, from $8.4 million in first quarter 2008, while selling, general and administrative expenses declined to $3.5 million, from $4.2 million a year ago.
Cash and cash equivalents were $62.1 million, compared with $92.6 million for first quarter 2008.
OSI Pharmaceuticals EVP to present portfolio at diabetes and obesity conference
MELVILLE, N.Y. OSI Pharmaceuticals, Inc. announced Thursday that Anker Lundemose, M.D., EVP of OSI Pharmaceuticals will present at the Canaccord Adams Conference in New York, N.Y. on Tuesday, May 12, 2009 at 8:40 a.m. (Eastern Time).
Lundemose will provide an overview on the company’s diabetes/obesity product portfolio and business developments.
OSI Pharmaceuticals discover, develop and commercialize high-quality, novel and differentiated personalized medicines designed to extend life and improve the quality of life for patients with cancer and diabetes/obesity.
FDA grants priority review to Prevnar 13
COLLEGEVILLE, Pa. The Food and Drug Administration has granted priority review to Wyeth Pharmaceuticals’ application for the pneumococcal vaccine Prevnar 13 (diphtheria CRM protein).
The company submitted the application for the vaccine, a 13-valent conjugate vaccine, on March 31.
Wyeth said it is seeking approval for Prevnar 13 for the prevention of invasive pneumococcal disease and otitis media caused by the 13 serotypes in the vaccine in children ages 2 months to 5 years. Prevnar 13 includes six serotypes in addition to the seven in the earlier version of Prevnar.
“Since its launch in 2000, our seven-valent pneumococcal vaccine, Prevnar, has significantly reduced the incidence of pneumococcal disease among infants and young children in the United States,” Wyeth Pharmaceuticals EVP vaccine research and development Emilio Emini said. “Recently, however, disease due to pneumococcal serotypes not found in Prevnar, particularly serotype 19A, have increased in prevalence in many regions of the world and are a significant public health concern.”