SOURCE: Paragon Financial Limited

Paragon Financial Limited

March 30, 2012 08:20 ET

Human Genome Sciences, Inc. and Halozyme Therapeutics, Inc. Future Looks Promising With Senate Passing of JOBS Act

The Paragon Report Provides Stock Research on Human Genome Sciences, Inc. and Halozyme Therapeutics, Inc.

NEW YORK, NY--(Marketwire - Mar 30, 2012) - The Biotechnology Industry's future looks very promising with the passing of the Jumpstart Our Business Startups (JOBS) Act. The JOBS Act, which passed in the Senate by a vote of 73-26, contains several provisions which would make the pathway to capital formation more attainable for small biotechnology companies, clearing the way for American innovation and ingenuity by removing bureaucratic hurdles and red tape to speed cures and medical breakthroughs to patients. The Paragon Report examines the outlook for companies in the Biotechnology Industry and provides equity research on Human Genome Sciences, Inc. (NASDAQ: HGSI) and Halozyme Therapeutics, Inc. (NASDAQ: HALO).

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The Biotechnology Industry Organization (BIO) President and CEO Jim Greenwood recently made the following statement: "BIO applauds passage of the JOBS Act and all efforts to incentivize and encourage capital formation for growing companies. This legislation would make capital formation easier for small, emerging biotechnology companies, speeding the development of new cures and treatments for patients living with debilitating diseases such as cancer, diabetes, Parkinson's, and HIV/AIDS. Bringing such groundbreaking cures and treatments from bench to bedside is a long and arduous road, and biotechnology companies are at the forefront of the effort."

"These reforms are especially important to innovative biotechnology companies that do not yet have product revenue and must spend investor dollars on compliance rather than the search for cures and breakthrough medicines," Greenwood explained.

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Human Genome Sciences, Inc. reported for the fourth quarter, a net loss of $81 million, or 41 cents a share, compared with $87.6 million, or 46 cents a share, a year ago. Revenue more than doubled to $45.5 million.

Halozyme Therapeutics, Inc. announced the completion of an underwritten public offering of 7,820,000 shares of its common stock, including 1,020,000 shares sold pursuant to the full exercise of an over-allotment option previously granted to the underwriter. All of the shares were offered by Halozyme at a price to the public of $10.61 per share. The proceeds to Halozyme from this offering were approximately $81.8 million, after deducting the underwriting discounts and commissions but before expenses.

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