Halozyme has announced that its lead drug, PEGPH20 for pancreatic cancer, has failed to extend the lives of patients in a clinical trial and is discontinuing all of its studies of the drug. It will refocus entirely on its already lucrative drug delivery technology, which is being used by drug giants including Roche, Johnson & Johnson, and Bristol-Myers Squibb. As a result of the reorganization, Halozyme said it will terminate 55% of its headcount, approximately 160 positions. More than 80% of the roles are expected to be cut by January 2020. As the company moves forward, Halozyme said the company will consist of about 120 employees who will focus on the growth of its Enhanze platform. Learn More