HALOZYME THERAPEUTICS, INC. (NASDAQ:HALO) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
Dr. Athena Countouriotis, chief medical officer, mutually agreed
that Dr. Countouriotis would leave Halozyme to pursue
professional opportunities outside the Company. The parties have
agreed that Dr. Countouriotis will continue her employment until
May 26, 2017, subject to earlier departure at her discretion.
Halozyme has appointed Dr. Dimitrios Chondros to the role of
chief medical officer, effective immediately. Dr. Chondros joined
Halozyme in 2015 from Genentech to lead the PEGPH20 clinical
development program, including leading HALO-301. He has nearly 20
years of experience in drug development including prior roles at
Genentech and Cell Genesys where he directed clinical development
programs including for GVAX immunotherapy in prostate cancer and
Avastin in gastrointestinal malignancies.
into a Transition Services Agreement and General Release of All
Claims (the Transition Agreement) to which the Company will pay
Dr. Countouriotis a severance payment of $230,000. The Company
will also continue to pay Dr. Countouriotis group health premiums
through November 30, 2017, subject to earlier termination if she
becomes eligible for group healthcare coverage through another
employer. The Transition Agreement also provides for a general
release of claims against the Company by Dr. Countouriotis and
contains customary mutual non-disparagement provisions.
into a Consulting Agreement (the Consulting Agreement) that will
become effective upon the termination of Dr. Countouriotis
employment. The Consulting Agreement, which has a term of up to
three months unless terminated to its terms, provides for up to
300 hours of clinical development consulting services by Dr.
Countouriotis at an hourly rate of $500 per hour. During the term
of the Consulting Agreement, all of Dr. Countouriotis outstanding
equity grants will continue to vest and be exercisable under the
terms of the Companys 2011 Stock Plan.
Consulting Agreement do not purport to be complete and are
qualified in their entirety by the full text of such agreements
which are attached to this Current Report on Form 8-K as exhibit
99.1, and are incorporated herein by reference.
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Exhibit No.
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Description
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99.1
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Transition Services Agreement and General Release of
All Claims, dated May 8, 2017, and Consulting Agreement, dated May 9, 2017 |
About HALOZYME THERAPEUTICS, INC. (NASDAQ:HALO)
Halozyme Therapeutics, Inc. is a biotechnology company focused on developing and commercializing oncology therapies. The Company operates in research, development and commercialization of enzymes segment. This segment also includes research and development, and bulk rHuPH20 manufacturing activities conducted under its collaborative agreements with third parties, and product sales of Hylenex recombinant. Its development pipeline consists of clinical-stage product candidates in oncology. Its lead oncology program is PEGPH20 (polyethylene glycol (PEG)ylated recombinant human hyaluronidase), a molecular entity being developed for the systemic treatment of tumors, which accumulate HA. It is in Phase II and Phase III clinical testing for PEGPH20 in stage IV pancreatic ductal adenocarcinoma (Studies 109-202 and 109-301); Phase Ib clinical testing in non-small cell lung cancer (Study 107-201), and in Phase Ib clinical testing in non-small cell lung cancer and gastric cancer (Study 107-101). HALOZYME THERAPEUTICS, INC. (NASDAQ:HALO) Recent Trading Information
HALOZYME THERAPEUTICS, INC. (NASDAQ:HALO) closed its last trading session down -0.01 at 13.84 with 729,376 shares trading hands.
