Halozyme Therapeutics, Inc. announced it secured an additional $20 million loan from Oxford Finance and Silicon Valley Bank. On December 27, 2013, Halozyme entered into an Amended and Restated Loan and Security Agreement, extending the original $30 million term loan and providing for an additional $20 million term loan, bringing the total loan balance to $50 million. The term loan was fully drawn at close on December 27, 2013 and has a maturity date of January 1, 2018.

The proceeds will be used for working capital and other near-term growth initiatives. Additional details of the credit facility are outlined in the company's Current Report on Form 8-K filed with the Securities and Exchange Commission on January 3, 2014. As of December 31, 2013, Halozyme had approximately $71 million in cash and cash equivalents.