Halozyme Surrenders Most Of Its Pre-Market Gains

Halozyme Therapeutics, Inc. (NASDAQ: HALO) shares are trading higher by $1.31 at $12.00 in Thursday's session. The issue spiked to $17.045 in pre-market trading but has come nowhere near that level during the regular session.

The catalyst for the brief rally was the announcement that a Phase 2 study in advanced pancreatic cancer had met its primary endpoints.

The rally was snuffed out when Adam Feuerstein of the TheStreet.com tweeted out that the announcement "cherry picked" the most positive data "while omitting" everything else less so.

As a result of the tweet, the issue went into reverse. After a higher open, it rallied to $12.43 before reversing course. the ensuing decline has found support ahead of the top of Wednesday's range ($10.79), only reaching $11.39. At this time, it attempting to remain in the $12 handle.