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Halozyme Reports Loss

Halozyme Therapeutics, Inc. announced its third-quarter financial results Nov. 11.

The San Diego-based company, which develops drugs to treat infertility, cancer and eye diseases, has nearly doubled its amount of cash on hand since the third quarter of last year.

While it reported $6.6 million in the third quarter of this year, it had $3.5 million in the third quarter of 2004.

Third-quarter 2005 revenues are $25,644, thanks to its fertility drug Cumulase, which hit the market in the second quarter of this year.

Halozyme’s net loss increased slightly to $3.7 million in the third quarter of 2005 from $3.3 million for the same period in 2004.

Halozyme is waiting to hear from the Food and Drug Administration about a new drug application the company filed in March for Hylenex, a technology used to apply anesthesia for ophthalmic surgery. Another drug is in preclinical trials and two others are in research stages.

, Katie Weeks

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