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Halozyme Therapeutics Raises $40 Million in Public Offering of Common Stock

SAN DIEGO--(BUSINESS WIRE)--Jun. 23, 2009-- Halozyme Therapeutics, Inc. (Nasdaq: HALO), a biopharmaceutical company developing and commercializing products targeting the extracellular matrix, today announced that it has raised gross proceeds of $40 million through the public offering of 6,150,000 million newly issued shares of its common stock. The public offering price of $6.50 per share represents a discount of 11.6% relative to the average closing share price during the five trading days preceding the public offering. Net proceeds, after underwriting discounts and commissions and expenses, will be approximately $38.2 million. Jefferies & Company, Inc. is the sole underwriter for this offering. The offering is expected to close on June 26, 2009, subject to customary closing conditions.

The securities described above are being offered by Halozyme pursuant to a shelf registration statement previously filed and declared effective by the Securities and Exchange Commission on January 8, 2009. A prospectus supplement related to the offering has been filed with the SEC and is available on the SEC’s Web site at http://www.sec.gov. Copies of the prospectus supplement relating to these securities may be obtained from Jefferies & Company, Inc., Attention: Syndicate Prospectus Department, 520 Madison Avenue, New York, NY, 10022 and at (888) 449-2342. This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Halozyme Therapeutics, Inc.

Halozyme is a biopharmaceutical company developing and commercializing products targeting the extracellular matrix for the endocrinology, oncology, dermatology and drug delivery markets. The company's portfolio of products and product candidates is based on intellectual property covering the family of human enzymes known as hyaluronidases and additional enzymes that target the extracellular matrix. Halozyme’s Enhanze Technology is a novel drug delivery platform designed to increase the absorption and dispersion of biologics. The company has key partnerships with Roche to apply Enhanze Technology to Roche’s biological therapeutics for up to 13 targets and with Baxter BioScience to apply Enhanze Technology to Baxter’s biological therapeutic compound, GAMMAGARD LIQUID. The product candidates in Halozyme’s research pipeline target multiple areas of significant unmet medical need. For more information visit www.halozyme.com.

Safe Harbor Statement

In addition to historical information, the statements set forth above include forward-looking statements (including, without limitation, statements concerning the public offering) that involve risk and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. The forward-looking statements are also identified through use of the words "believe," "enable," "may," "will," "could," "intends," "estimate," "anticipate," "plan," "predict," "probable," "potential," "possible," "should," "continue," and other words of similar meaning. Actual results could differ materially from the expectations contained in forward-looking statements as a result of several factors, including regulatory approval requirements and competitive conditions. These and other factors that may result in differences are discussed in greater detail in the company's reports on Forms 10-K, 10-Q, and other filings with the Securities and Exchange Commission.

Source: Halozyme Therapeutics, Inc.

Halozyme Therapeutics, Inc.
Robert H. Uhl
Senior Director, Investor Relations

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