Halozyme can resume PEGPH20 clinical program in pancreatic cancer

US biotech firm Halozyme Therapeutics (Nasdaq: HALO) saw its shares rise after revealing that the US Food and Drug Administration has removed the clinical hold on patient enrollment and dosing of PEGPH20 in the ongoing Phase II trial (Study 202) evaluating PEGPH20 in patients with pancreatic cancer permitting the study to resume under a revised protocol.

Halozyme shares leapt 12% to $9.05 at 4:26 pm in New York last night. Its stock price had topped $18 to set an all-time high earlier this year, but shares plunged in April after  Halozyme announced the halt on the study.

Patient enrollment is anticipated to recommence upon review and approval of the amended protocol by the Independent Review Boards at the participating clinical trial sites. In May, the trial's independent Data Monitoring Committee (DMC) recommended that enrollment and dosing in the study resume under a revised protocol.