San Diego’s Halozyme Therapeutics Inc. reported revenue of $11.8 million for the quarter of 2013 ending March 31, up from $7.4 million from the same period in 2012.
The biopharmaceutical company also reported research and development expenses for the first quarter of 2013 were $22 million — compared with $15.9 million from the first quarter last year.
Halozyme said the increase was due primarily to growth in manufacturing activities to support potential launches by its partners, and an increase in clinical trial activities.
Halozyme has a market capitalization of $772 million, and traded at market close on May 10 at $6.43 — a 6 percent increase from when the earnings were announced.
— SDBJ Staff Report