Halozyme Therapeutics said that its development partner Roche has received a positive recommendation from a European drug regulator for the administration of a breast cancer drug by subcutaneous injection. Halozyme’s stock jumped 24 percent.
The companies say that a typical intravenous infusion of Herceptin SC for patients with breast cancer can take 30 minutes to 90 minutes per dose. This compares with administration taking two minutes to five minutes when delivered subcutaneously by injection under the skin.
Halozyme President and CEO Gregory Frost said in a statement that if European approval is received, delivering Herceptin by subcutaneous injection under the skin could possibly save time for both doctors and breast cancer patients in Europe.
The companies say that study results show the safety and efficacy of delivering the drug subcutaneously is comparable to when the drug is delivered intravenously.
The positive recommendation was from the European Medicines Agency’s Committee for Medicinal Products for Human Use.
Shares of Halozyme jumped $1.57 to $7.94 in afternoon trading. The stock has traded in a 52-week range of $3.86 to $9.92.