Halozyme announces $100M stock offering, shares -3.8% AH

|About: Halozyme Therapeutics, Inc. (HALO)|By:, SA News Editor

Halozyme Therapeutics (HALO) is selling $100M worth of shares to finance its drug R&D programs, including "potential acceleration" of its PEGPH20 tumor drug development efforts, as well as "general corporate purposes." Underwriters have a $15M overallotment option.

At current levels, the offering stands to increase Halozyme's share count by 6%. The company had $65.3M in cash/investments at the end of September, and $32.3M in debt.