Halozyme Therapeutics (NASDAQ:HALO) is lower in the pre-market session after the biopharmaceutical company said Friday that it is temporarily halting patient enrollment and dosing of PEGPH20 in an ongoing Phase 2 trial (Study 202) evaluating PEGPH20 in patients with pancreatic cancer. Shares are down 25.54% at $8.63, with a 52-week range of $5.03 – $18.18.
The halt comes as a result of a recommendation the company received Thursday from an independent Data Monitoring Committee (DMC) which is assessing clinical data that indicates a possible difference in the thromboembolic event rate between the group of patients treated with PEGPH20, nab-paclitaxel and gemcitabine versus the group of patients treated with nab-paclitaxel and gemcitabine without PEGPH20.
The company is halting enrollment and dosing of PEGPH20 as precautionary actions while the DMC’s full evaluation of the data is ongoing.
In Other News:
Energy holding company LinnCo LLC (NASDAQ:LNCO) has been downgraded by analysts at Citigroup to a neutral rating from a buy.
The firm also lowered its price target on the stock to $31.50 from $41 a share. In pre-market trading, shares of LNCO are down 0.29% to $27.57, within a 52-week frame of $23.03 – $44.20.
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