Halozyme Prices Offering Of 7.69 Mln Shares At $13.00 Per Share

(RTTNews) - Halozyme Therapeutics, Inc.(HALO) Tuesday announced the pricing of its previously announced underwritten public offering of 7.69 million shares of its common stock at a public offering price of $13.00 per share.

All shares in the offering are being sold by Halozyme. The offering is expected to close on February 10.

Halozyme has also granted the underwriters a 30-day option to purchase up to an additional 1.15 million shares of common stock.

J.P. Morgan Securities LLC and Citigroup are acting as joint book-running managers for the offering. Piper Jaffray & Co. and BMO Capital Markets are acting as co-managers for the offering.

Halozyme plans to use the net proceeds from this offering to fund research and development of proprietary programs, including the potential acceleration of the PEGPH20 program, and for other general corporate purposes.

The stock fell 6.5 percent on Tuesday to close at $13.78.