Halozyme gains on licensing deal with Japan's Chugai for drug delivery system

Chugai Pharmaceutical

24/03/2022 13:40

** Shares of biotech co  HALO.O  rise 1.4% to $38.11 
    ** Co signs collaboration and licensing deal with Tokyo-
based Chugai Pharmaceutical for access to HALO's drug delivery
system ENHANZE  urn:newsml:reuters.com:*:nPnc0nz9Fa 
    ** Chugai plans to explore the potential use of ENHANZE for
one of its drug candidates, says HALO 
    ** ENHANZE helps in the delivery of drugs, which need to be
administered just under the skin, compared with the traditional
method of delivery via injections  
    ** Under deal, HALO will receive $25 million of upfront
payment from Chugai
    ** Chugai is obligated to make potential future milestone
payments of up to $160 million 
    ** Up to Wednesday's close, HALO down ~7% YTD