Halozyme Therapeutics, Inc.'s stock plummeted by 27% on Friday after management reported that it had halted enrollment and dosing in its phase 2 pancreatic cancer trial of PEGPH20 as a "precautionary measure." The trial was halted at the request of an independent Data Monitoring Committee, or DMC, based on a possible observed difference in thromboembolic (blood clot) events among study participants in the PEGPH20 arm.
Halozyme's management has not released additional information as of this writing, with CEO Dr. Helen Torley merely noting that "We will be providing additional information to the DMC as quickly as possible so they can complete their assessment and we can determine next steps."
In this segment of Friday's market checkup, Motley Fool health care analysts David Williamson and Michael Douglass discuss Halozyme's halted enrollment, the company's overall position, and whether this is a good opportunity to invest in the stock.
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David Williamson and Michael Douglass have no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.