SAN DIEGO, April 17, 2014 /PRNewswire/ -- Shareholder rights law firm Robbins Arroyo LLP is investigating whether certain officers and directors of Halozyme Therapeutics, Inc. (NASDAQ: HALO) breached their fiduciary duties to shareholders. Halozyme is a biopharmaceutical company that researches, develops, and commercializes human enzymes that facilitate the delivery of injected drugs and fluids.
Halozyme Shares Drop on Halt of PEGPH20 Phase 2 Trial
On April 4, 2014, Halozyme issued a press release announcing that patient enrollment and dosing of PEGPH20 would be halted in the Phase 2 trial of evaluating PEGPH20 in patients with pancreatic cancer. The suspension of the trial followed the recommendation of the independent Data Monitoring Committee, while it assess "clinical data that indicates a possible difference in the thromboembolic event rate between the group of patients treated with PEGPH20, nab-paclitaxel and gemcitabine versus the group of patients treated with nab-paclitaxel and gemcitabine without PEGPH20." On this news, shares of Halozyme fell $3.16, or 27%, to close at $8.43 on April 4, 2014. Then on April 9, 2014, Halozyme announced that the U.S. Food and Drug Administration had placed a clinical hold on patient enrollment and dosing of PEGPH20.
Halozyme Residential Shareholders Have Legal Options
Robbins Arroyo LLP highlights that Halozyme shareholders have the option to pursue a shareholder litigation demand or shareholder derivative action through which shareholders aim to hold insider wrongdoers accountable for their actions, prevent future misconduct, and bring long-term value back to the company. Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, [email protected], or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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