NEW YORK, NY / ACCESSWIRE / February 22, 2018 / Halozyme shares closed up roughly 4% on Wednesday after the company announced strong fourth quarter results earlier in the week. Shares of Loxo Oncology also closed in the green after announcing that its pipeline drug larotrectinib was in a publication in the February 22nd issue of the New England Journal of Medicine.

RDI Initiates Coverage on:

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

Loxo Oncology, Inc.
https://rdinvesting.com/news/?ticker=LOXO

Halozyme Therapeutics' shares closed up 4.11% yesterday on nearly 1.8 million shares traded. It was earlier in the week that the company reported its fourth quarter results that topped estimates. Halozyme reported net income of $123.9 million and a profit of 85 cents a share. Analysts had been expecting 66 cents a share. Revenue at $189.6 million was also way past the $161.8 million that analysts were waiting for. For the full year, the company reported net income of 45 cents a share and revenue of $316.6 million. Looking ahead, Halozyme has forecast full year revenue in the range of $115 million to $125 million. The gains this week have been a refreshing course for the stock which had lost about 9% as of Feb 20 since the year started. The company's President and CEO Dr. Helen Torley commented, "Building on a truly transformative year in 2017, we begin 2018 executing against a strong portfolio of new ENHANZE collaborations. With Janssen now studying Darzalex® SC in four Phase 3 trials, Roche recently initiating a Phase 1 study with ENHANZE and multiple targets projected to enter the clinic in the coming quarters, we have good line of sight to our goal of having six targets in clinical development by year-end, doubling the number of targets in the clinic from 2017."

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

Loxo Oncology's shares closed up 3.21% yesterday on about 370,000 shares traded. The stock hit a new high of $112.91 during intra-day trading after the biopharma company, along with Bayer AG, announced a publication in the February 22nd issue of the New England Journal of Medicine (NEJM) for larotrectinib. The publication revealed clinical details of larotrectinib in the treatment of pediatric and adult patients whose tumors harbor tropomyosin receptor kinase (TRK) gene fusions. The senior author of the paper, David Hyman M.D. remarked, "Ongoing treatment with larotrectinib continues to demonstrate striking and durable efficacy coupled with minimal side effects, across a diverse patient population. The efficacy of larotrectinib warrants screening for TRK fusions alongside other actionable targets in patients of all ages with advanced solid tumors.? The company's CEO Josh Bilenker M.D. commented, " It is exciting to see the NEJM share the larotrectinib experience in TRK fusion cancers with the broader clinical and research communities. The class-leading data reported for larotrectinib are a testament to the importance of building selective medicines against all of the actionable targets comprehensive profiling can identify. We hope to build on the success of larotrectinib as our pipeline matures in 2018 and beyond."

Access RDI's Loxo Oncology, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=LOXO

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

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