Halozyme, a biopharmaceutical company, has reported a net loss of $14.72m, or $0.18 per share for the first quarter of 2009, compared to a net loss of $9.95m, or $0.13 per share, for the first quarter of 2008.
Revenue for the first quarter of 2009 was $2.77m, compared to $1.8m for the first quarter of 2008. Revenues under collaborative agreements for the first quarter of 2009 were $2.7m, compared to $1.66m for the first quarter of 2008.
Revenues under collaborative agreements in the first quarter of 2009 primarily consisted of the amortization of license fees and milestone payments received from Baxter and Roche of $1.7m and R&D reimbursements from Baxter and Roche of $1m.
Jonathan Lim, Halozyme’s president and CEO, said: Halozyme has made significant product development progress in 2009, including the initiation of two Phase I clinical trials. One trial is for a Roche exclusive target, the second Roche target to enter the clinic, and the other Phase I is for our proprietary PEGPH20 enzyme in refractory cancer patients.
We anticipate advancing additional clinical studies during the course of 2009 and will present interim results from our Phase II Insulin-PH20 study in type 1 diabetic patients in early June.