Today’s Research Reports on Stocks to Watch: Halozyme Therapeutics and Teva Pharmaceuticals
Shares of both Teva Pharmaceuticals and Halozyme Therapeutics closed higher on Monday. Teva announced a new Chief Executive. While Halozyme didn’t have any news yesterday, it did announce last week that it has begun a multi-arm clinical trial evaluating its investigational new drug, PEGPH20, in combination with Genentech’s atezolizumab.
RDI Initiates Coverage on:
Halozyme Therapeutics, Inc.
Teva Pharmaceutical Industries Limited
Halozyme Therapeutics, Inc. shares closed up 2.33% on Monday with around 860,000 shares traded. Trading volume was lackluster compared to usual and there was no remarkable news, but roughly a week ago, the company announced the initiation of a multi-arm clinical trial evaluating PEGPH20. PEGPH20 is the company’s investigational new drug that is being tested in combination with Genentech’s atezolizumab, an anti-PDL1 cancer immunotherapy. The combination will be tested in patients with previously treated, locally advanced unresectable or metastatic gastric or gastroesophageal junction cancer. CEO Dr. Helen Torley commented, "PEGPH20 is currently under evaluation in six indications with potential across a range of difficult to treat solid tumors. Our hope is to advance new treatment options for patients with each ongoing study."
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Teva Pharmaceutical Industries Limited shares closed up 1.73% on a little over 23 million shares traded. It was an exciting day for the pharma giant after the company announced that Kare Schultz would be coming on board to be the President and Chief Executive Officer. Her new role at the company will be effective November 1, 2017. Dr. Yitzhak Peterburg has been serving as Interim Chief Executive Officer. Dr. Sol J. Barer, Chairman of Teva’s Board of Directors commented, "Kare Schultz joining is the start of a new chapter at Teva. Kare has extensive global pharmaceutical experience and a strong track record in corporate turnarounds, as well as in driving growth and leading international expansion. Under Kare’s leadership, we can position Teva for long-term success and deliver on our promises to shareholders, employees and patients around the world.” Schultz remarked, “I am looking forward to getting to work as Teva’s CEO alongside the Teva team. I look forward to travelling throughout Teva’s global operations and reviewing the opportunities we have to better serve patients and healthcare systems in each of our markets. My focus will be on strengthening Teva’s business and enhancing our leadership in specialty and generic medicines to deliver sustained shareholder value creation.”
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Our Actionable Research on Halozyme Therapeutics, Inc. (NASDAQ: HALO) and Teva Pharmaceutical Industries Limited (NYSE: TEVA) can be downloaded free of charge at Research Driven Investing.
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