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

  • 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.
Comments (6)
  • Michael Vascocu
    , contributor
    Comments (414) | Send Message
     
    This $100 Million offering displays huge confidence level by HALO management and may be a clue to a pending takeover offer in the not so distant future possibly, or at least a huge cash reserve for a company with many upcoming catalysts and not far off from cash flow positive. I would rather own HALO over any other biotech company out there, hands down! I have not seen this such a huge opportunity since before I tripled down on Amylin(AMLN) shares and options ahead of their buyout by BMY/AZN 2 years ago(now owned only by AZN).
    3 Feb 2014, 06:39 PM Reply Like
  • Groggy
    , contributor
    Comments (4) | Send Message
     
    As a channeling trader of this stock since it was pick sheeted I'm 100% in agreement with you. At $13.50 I'm a buyer. With 4th quarter earnings in 3 weeks and 85% of the shares available for a sale and/or merger; the lower it goes the more I'm buying. Something BIG is brewing with HALO.
    5 Feb 2014, 02:17 AM Reply Like
  • Medical Stock Analyst
    , contributor
    Comments (50) | Send Message
     
    So if I get this right...an offering indicates confidence and higher likelihood of buyout????
    3 Feb 2014, 08:42 PM Reply Like
  • Michael Vascocu
    , contributor
    Comments (414) | Send Message
     
    The fact that they are raising such a large amount at this time instead of say only $25 to $50 Million, knowing that demand will be high. Also, other stocks such as ACAD have raised money in the past and seeing huge demand and a quick price rise soon after. Buyout potential has been noted by several sources to include Street dot com A. Feurerstein saying HALO will be at the top of the M&A list this year, or similar words. Why do my words bother you, or maybe you have some criticism other than a 'one-liner' addition?
    3 Feb 2014, 10:19 PM Reply Like
  • russleehowe
    , contributor
    Comments (75) | Send Message
     
    Long on HALO since early November, 2013. Up 24% even after today's 6% sell off. It has steadily climbed. I always like companies to sell more stock -- short term pain for long term gain. This is a keeper. If they don't have $ the research & development come to a screeching halt.
    3 Feb 2014, 11:25 PM Reply Like
  • Mikitrade
    , contributor
    Comments (8) | Send Message
     
    Thanks for some comments info on Halo. Bought more!
    4 Feb 2014, 04:23 PM Reply Like
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