NEW YORK, NY / ACCESSWIRE / November 21, 2017 / Shares of Halozyme and Acorda both closed in the green on Monday with Acorda closing up almost 10% after announcing it would discontinue a Parkinson's therapy that killed five patients during its clinical trial.

RDI Initiates Coverage on:

Halozyme Therapeutics, Inc.
https://rdinvesting.com/news/?ticker=HALO

Acorda Therapeutics, Inc.
https://rdinvesting.com/news/?ticker=ACOR

Halozyme Therapeutics, Inc. shares closed up 2.30% on nearly 1.4 million shares traded. There was no remarkable news for the company but it was earlier in the month that Halozyme released its third quarter results. CEO Dr. Helen Torley commented, "During the third quarter, we realized clear benefits from strategies we have been executing against in both the ENHANZE and PEGPH20 pillars of our business. On ENHANZE we significantly increased 2017 revenue and the potential future value of the technology with the signing of the landmark collaboration agreement with Bristol-Myers Squibb for development of up to 11 immuno-oncology targets, and with the expansion of our collaboration agreement with Roche. In addition, our partner Janssen took an important step towards the commercialization of a subcutaneous formulation of Darzalex® with the initiation of a Phase 3 study." He also said, "In our PEGPH20 pillar, investigator interest remains strong in our HALO-301 study, resulting in continued progress with enrollment. An interim analysis will be conducted for the first primary endpoint of progression-free survival when we achieve the target number of events, which we project will occur in late Q4 2018." For the quarter, the company reported $63.7 million in revenue and net income of $2.7 million, or $0.02 per share.

Access RDI's Halozyme Therapeutics, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=HALO

Acorda Therapeutics, Inc. shares closed up nearly 10% on Monday on almost 1.5 million shares traded. It was a nice rebound for the stock which was sinking 2.5% in pre-market trading after the company announced it would discontinue its Parkinson's disease drug tozadenant. Shares collapsed last week when the company announced that five patients had died during the clinical trial of tozadenant and others in the trial had serious blood-related complications. Acorda said it would discontinue the therapy on information "related to previously disclosed agranulocytosis and associated serious adverse events." The therapy was one of four total drugs that Acorda acquired from Biotie Therapies Corp. for $363 million. The company plans to release the results from the late-stage trial in the first quarter of 2018. CEO Ron Cohen M.D. stated "Patient safety is our top priority. While we are deeply disappointed by this outcome, we remain committed to the Parkinson's community, which is in great need of new therapeutic options. We are grateful to the patients who volunteered for the tozadenant studies and to their care partners, clinical investigators, and the internal and external study teams."

Access RDI's Acorda Therapeutics, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=ACOR

Our Actionable Research on Halozyme Therapeutics, Inc. (NASDAQ: HALO) and Acorda Therapeutics, Inc. (NASDAQ: ACOR) can be downloaded free of charge at Research Driven Investing.

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