UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

 
Halozyme Therapeutics, Inc.

(Name of Issuer)
 
Common Stock, par value $0.001 per share

(Title of Class of Securities)

	
40637H109

                                (CUSIP Number)                                	
 
October 12, 2004

(Date of Event Which Requires Filing of this Statement)
 
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
 
¨ Rule 13d-1(b)
 
x Rule 13d-1(c)
 
¨ Rule 13d-1(d)
 
*	The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.	
 
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes)

CUSIP No. 40637H109

  1.	 	Names of Reporting Persons.
 
             QVT Financial LP
 
I.R.S. Identification Nos. of above persons (entities only).
 
            11-3694008	 	 	
  2.	 	Check the Appropriate Box if a Member of a Group (See Instructions)
(a)   ¨
(b)   x	 	 	
  3.	 	SEC Use Only
 	 	 	
  4.	 	Citizenship or Place of Organization
 
            Delaware	 	 	
			
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With:	 	  5.    Sole Voting Power
 
                0

  6.    Shared Voting Power
 
                3,200,000 shares of common stock

  7.    Sole Dispositive Power
 
                0

  8.    Shared Dispositive Power
 
                3,200,000 shares of common stock	
					
  9.	 	Aggregate Amount Beneficially Owned by Each Reporting Person
 
            3,200,000 shares of common stock	 	 	
10.	 	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
 	 	¨
 	
11.	 	Percent of Class Represented by Amount in Row (9)
 
            6.72%	 	 	
12.	 	Type of Reporting Person (See Instructions)
 
            PN	 	 	
 
Page 2 of 10 pages

CUSIP No. 40637H109

  1.	 	Names of Reporting Persons.
 
             QVT Financial GP LLC
 
I.R.S. Identification Nos. of above persons (entities only).
 
            11-3694007	 	 	
  2.	 	Check the Appropriate Box if a Member of a Group (See Instructions)
(a)   ¨
(b)   x	 	 	
  3.	 	SEC Use Only
 	 	 	
  4.	 	Citizenship or Place of Organization
 
            Delaware	 	 	
			
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With:	 	  5.    Sole Voting Power
 
                0

  6.    Shared Voting Power
 
                3,200,000 shares of common stock

  7.    Sole Dispositive Power
 
                0

  8.    Shared Dispositive Power
 
                3,200,000 shares of common stock	
					
  9.	 	Aggregate Amount Beneficially Owned by Each Reporting Person
 
            3,200,000 shares of common stock	 	 	
10.	 	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
 	 	¨
 	
11.	 	Percent of Class Represented by Amount in Row (9)
 
            6.72%	 	 	
12.	 	Type of Reporting Person (See Instructions)
 
            OO	 	 	
 
Page 3 of 10 pages

CUSIP No. 40637H109

  1.	 	Names of Reporting Persons.
 
             QVT Fund LP
 
I.R.S. Identification Nos. of above persons (entities only).
 
            98-0415217	 	 	
  2.	 	Check the Appropriate Box if a Member of a Group (See Instructions)
(a)   ¨
(b)   x	 	 	
  3.	 	SEC Use Only
 	 	 	
  4.	 	Citizenship or Place of Organization
 
            Cayman Islands	 	 	
			
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With:	 	  5.    Sole Voting Power
 
                0

  6.    Shared Voting Power
 
                3,200,000 shares of common stock

  7.    Sole Dispositive Power
 
                0

  8.    Shared Dispositive Power
 
                3,200,000 shares of common stock	
					
  9.	 	Aggregate Amount Beneficially Owned by Each Reporting Person
 
            3,200,000 shares of common stock	 	 	
10.	 	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
 	 	¨
 	
11.	 	Percent of Class Represented by Amount in Row (9)
 
            6.72%	 	 	
12.	 	Type of Reporting Person (See Instructions)
 
            PN	 	 	
 
Page 4 of 10 pages

CUSIP No. 40637H109

  1.	 	Names of Reporting Persons.
 
             QVT Associates GP LLC
 
I.R.S. Identification Nos. of above persons (entities only).
 
            01-0798253	 	 	
  2.	 	Check the Appropriate Box if a Member of a Group (See Instructions)
(a)   ¨
(b)   x	 	 	
  3.	 	SEC Use Only
 	 	 	
  4.	 	Citizenship or Place of Organization
 
            Delaware	 	 	
			
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With:	 	  5.    Sole Voting Power
 
                0

  6.    Shared Voting Power
 
                3,200,000 shares of common stock

  7.    Sole Dispositive Power
 
                0

  8.    Shared Dispositive Power
 
                3,200,000 shares of common stock	
					
  9.	 	Aggregate Amount Beneficially Owned by Each Reporting Person
 
            3,200,000 shares of common stock	 	 	
10.	 	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
 	 	¨
 	
11.	 	Percent of Class Represented by Amount in Row (9)
 
            6.72%	 	 	
12.	 	Type of Reporting Person (See Instructions)
 
            OO	 	 	
 
Page 5 of 10 pages

													
Item 1.	 	(a)	  	Name of Issuer 	  	 	  	 	
 	 	 	  	Halozyme Therapeutics, Inc. (the “Issuer”)	  	 	  	 	
					
Item 1.	 	(b)	  	Address of Issuer’s Principal Executive Offices	  	 	  	 	
					
 	 	 	  	The address of the Issuer’s principal executive offices is:	  	 	  	 	
					
 	 	 	  	11588 Sorrento Valley Road, Suite 17, San Diego, CA 92121	  	 	  	 	
					
Item 2.	 	(a)	  	Name of Person Filing	  	 	  	 	
					
Item 2.	 	(b)	  	Address of Principal Business Office or, if none, Residence	  	 	  	 	
					
Item 2.	 	(c)	  	Citizenship	  	 	  	 	
					
 	 	 	  	QVT Financial LP
527 Madison Avenue, 8th Floor
New York, New York 10022
Delaware Limited Partnership	  	 	  	 	
					
 	 	 	  	QVT Financial GP LLC
527 Madison Avenue, 8th Floor
New York, New York 10022
Delaware Limited Liability Company	  	 	  	 	
					
 	 	 	  	QVT Fund LP
Walkers SPV, Walkers House
P.O. Box 908GT
Mary Street
George Town, Grand Cayman, Cayman Islands
Cayman Islands Limited Partnership	  	 	  	 	
					
 	 	 	  	QVT Associates GP LLC
527 Madison Avenue, 8th Floor
New York, New York 10022
Delaware Limited Liability Company	  	 	  	 	
					
Item 2.	 	(d)	  	Title of Class of Securities	  	 	  	 	
					
 	 	 	  	The title of the securities is common stock, par value $0.001 per share (the “Common Stock”).	  	 	  	 	
					
Item 2.	 	(e)	  	CUSIP Number 	  	 	  	 	
					
 	 	 	  	The CUSIP number of the Common Stock is 40637H109.	  	 	  	 	
 
Page 6 of 10 pages

													
			
Item 3.	 	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:	  	 	
				
 	 	(a)	  	¨	  	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).	
				
 	 	(b)	  	¨	  	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).	
				
 	 	(c)	  	¨	  	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).	
				
 	 	(d)	  	¨	  	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).	
				
 	 	(e)	  	¨	  	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);	
				
 	 	(f)	  	¨	  	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);	
				
 	 	(g)	  	¨	  	A parent holding company or control person in accordance with § 240.13d-1(b)(ii)(G);	
				
 	 	(h)	  	¨	  	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);	
				
 	 	(i)	  	¨	  	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);	
				
 	 	(j)	  	¨	  	Group, in accordance with § 240.13d-1(b)(1)(ii)(J).	

				
Item 4.	  	Ownership.	  	 	  	 	
					
 	  	(a)	  	Amount beneficially owned:	  	 	  	 	
					
 	  	 	  	QVT Financial LP (“QVT Financial”) is the investment manager for QVT Fund LP (the “Fund”), which beneficially owns 3,200,000 shares of Common Stock, which were purchased from the Issuer in a private placement. QVT Financial has the power to direct the vote and disposition of the Common Stock held by the Fund. Accordingly, QVT Financial may be deemed to be the beneficial owner of the 3,200,000 shares of Common Stock owned by the Fund.	  	 	  	 	
					
 	  	 	  	QVT Financial GP LLC, as General Partner of QVT Financial, may be deemed to beneficially own the same number of shares of Common Stock reported by QVT Financial.	  	 	  	 	
					
 	  	 	  	The Fund beneficially owns 3,200,000 shares of Common Stock. QVT Associates GP LLC, as General Partner of the Fund, may be deemed to beneficially own the same number of shares of Common Stock reported by the Fund.	  	 	  	 	
					
 	  	 	  	The Fund also owns warrants to purchase additional shares of Common Stock, which are not exercisable until after April 15, 2005.	  	 	  	 	
					
 	  	 	  	Each of QVT Financial and QVT Financial GP LLC disclaim beneficial ownership of the 3,200,000 shares of Common Stock owned by the Fund.	  	 	  	 	
					
 	  	(b)	  	Percent of class:	  	 	  	 	
					
 	  	 	  	See Item 11 of the Cover Pages to this Schedule 13G.	  	 	  	 	
 
Page 7 of 10 pages

											
					
 	  	(c)	  	Number of shares as to which the person has:	  	 	  	 	
						
 	  	 	  	(i)	  	Sole power to vote or to direct the vote	  	 	  	 	
						
 	  	 	  	 	  	0	  	 	  	 	
						
 	  	 	  	(ii)	  	Shared power to vote or to direct the vote	  	 	  	 	
						
 	  	 	  	 	  	See item (a) above.	  	 	  	 	
						
 	  	 	  	(iii)	  	Sole power to dispose or to direct the disposition of	  	 	  	 	
						
 	  	 	  	 	  	0	  	 	  	 	
						
 	  	 	  	(iv)	  	Shared power to dispose or to direct the disposition of	  	 	  	 	
						
 	  	 	  	 	  	See item (a) above.	  	 	  	 	
			
Item 5.	  	Ownership of Five Percent or Less of a Class	  	 	
			
 	  	If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following…..[    ].	  	 	
				
Item 6.	  	Ownership of More than Five Percent on Behalf of Another Person.	  	 	  	 	
				
 	  	Not Applicable	  	 	  	 	
		
Item 7.	  	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company	
		
 	  	Not Applicable	
				
Item 8.	  	Identification and Classification of Members of the Group	  	 	  	 	
				
 	  	Not Applicable	  	 	  	 	
				
Item 9.	  	Notice of Dissolution of Group	  	 	  	 	
				
 	  	Not Applicable	  	 	  	 	
				
Item 10.	  	Certification	  	 	  	 	
				
 	  	By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.	  	 	  	 	
 
Page 8 of 10 pages

SIGNATURE
 
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
 
Dated: October 21, 2004

QVT FINANCIAL LP	 	QVT FUND LP	
		
By QVT Financial GP LLC,	 	By QVT Associates GP LLC,	
its General Partner	 	its General Partner	
				
By:	 	/s/ Daniel A. Gold
	 	By:	 	/s/ Daniel A. Gold
	
Name:	 	Daniel A. Gold	 	Name:	 	Daniel A. Gold	
Title:	 	Managing Member	 	Title:	 	Managing Member	
				
By:	 	/s/ Tracy Fu
	 	By:	 	/s/ Tracy Fu
	
Name:	 	Tracy Fu	 	Name:	 	Tracy Fu	
Title:	 	Managing Member	 	Title:	 	Managing Member	
		
QVT FINANCIAL GP LLC	 	QVT ASSOCIATES GP LLC	
				
By:	 	/s/ Daniel A. Gold
	 	By:	 	/s/ Daniel A. Gold
	
Name:	 	Daniel A. Gold	 	Name:	 	Daniel A. Gold	
Title:	 	Managing Member	 	Title:	 	Managing Member	
				
By:	 	/s/ Tracy Fu
	 	By:	 	/s/ Tracy Fu
	
Name:	 	Tracy Fu	 	Name:	 	Tracy Fu	
Title:	 	Managing Member	 	Title:	 	Managing Member	
 
Page 9 of 10 pages

EXHIBIT A
JOINT FILING AGREEMENT
 
The undersigned hereby agree that the statement on Schedule 13G signed by each of the undersigned shall be filed on behalf of each of the undersigned pursuant to and in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended.
 
Dated: October 21, 2004

QVT FINANCIAL LP	 	QVT FUND LP	
		
By QVT Financial GP LLC,	 	By QVT Associates GP LLC,	
its General Partner	 	its General Partner	
				
By:	 	/s/ Daniel A. Gold
	 	By:	 	/s/ Daniel A. Gold
	
Name:	 	Daniel A. Gold	 	Name:	 	Daniel A. Gold	
Title:	 	Managing Member	 	Title:	 	Managing Member	
				
By:	 	/s/ Tracy Fu
	 	By:	 	/s/ Tracy Fu
	
Name:	 	Tracy Fu	 	Name:	 	Tracy Fu	
Title:	 	Managing Member	 	Title:	 	Managing Member	
		
QVT FINANCIAL GP LLC	 	QVT ASSOCIATES GP LLC	
				
By:	 	/s/ Daniel A. Gold
	 	By:	 	/s/ Daniel A. Gold
	
Name:	 	Daniel A. Gold	 	Name:	 	Daniel A. Gold	
Title:	 	Managing Member	 	Title:	 	Managing Member	
				
By:	 	/s/ Tracy Fu
	 	By:	 	/s/ Tracy Fu
	
Name:	 	Tracy Fu	 	Name:	 	Tracy Fu	
Title:	 	Managing Member	 	Title:	 	Managing Member	
 
Page 10 of 10 pages