UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
SCHEDULE 13G
 
Under the Securities Exchange Act of 1934
(Amendment No. 3)*

 
 
Halozyme Therapeutics, Inc.
	
(Name of Issuer)	

Common Stock, par value $0.001 per share
	
(Title of Class of Securities)	

40637H109
	
(CUSIP Number)	

December 31, 2007
	
(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).
 
Page 1 of 9 pages

CUSIP No. 40637H109

  1.	 	Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
 
             QVT Financial LP
            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…
 
            5,629,374	
	 	  7.    Sole Dispositive Power…
 
            0	
	 	  8.    Shared Dispositive Power…
 
            5,629,374	
					
  9.	 	Aggregate Amount Beneficially Owned by Each Reporting Person…
 
            5,629,374	 	 	
10.	 	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
 
 	 	¨
 	
11.	 	Percent of Class Represented by Amount in Row (9)
 
            7.25%	 	 	
12.	 	Type of Reporting Person (See Instructions)
 
            PN	 	 	
 
Page 2 of 9 pages

CUSIP No. 40637H109

  1.	 	Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
 
             QVT Financial GP LLC
            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…
 
            5,629,374	
	 	  7.    Sole Dispositive Power…
 
            0	
	 	  8.    Shared Dispositive Power…
 
            5,629,374	
					
  9.	 	Aggregate Amount Beneficially Owned by Each Reporting Person…
 
            5,629,374	 	 	
10.	 	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
 
 	 	¨
 	
11.	 	Percent of Class Represented by Amount in Row (9)
 
            7.25%	 	 	
12.	 	Type of Reporting Person (See Instructions)
 
            OO	 	 	
 
Page 3 of 9 pages

CUSIP No. 40637H109

  1.	 	Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
 
             QVT Fund LP
            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…
 
            4,790,442	
	 	  7.    Sole Dispositive Power…
 
            0	
	 	  8.    Shared Dispositive Power…
 
            4,790,442	
					
  9.	 	Aggregate Amount Beneficially Owned by Each Reporting Person……
 
            4,790,442	 	 	
10.	 	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
 
 	 	¨
 	
11.	 	Percent of Class Represented by Amount in Row (9)
 
            6.17%	 	 	
12.	 	Type of Reporting Person (See Instructions)
 
            PN	 	 	
 
Page 4 of 9 pages

CUSIP No. 40637H109

  1.	 	Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
 
             QVT Associates GP LLC
            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……
 
            5,330,303	
	 	  7.    Sole Dispositive Power…
 
            0	
	 	  8.    Shared Dispositive Power……
 
            5,330,303	
					
  9.	 	Aggregate Amount Beneficially Owned by Each Reporting Person……
 
            5,330,303	 	 	
10.	 	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
 
 	 	¨
 	
11.	 	Percent of Class Represented by Amount in Row (9)
 
            6.87%	 	 	
12.	 	Type of Reporting Person (See Instructions)
 
            OO	 	 	
 
Page 5 of 9 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
1177 Avenue of the Americas, 9th Floor
New York, New York 10036
Delaware Limited Partnership	  		  		
					
	 		  	QVT Financial GP LLC
1177 Avenue of the Americas, 9th Floor
New York, New York 10036
Delaware Limited Liability Company	  		  		
					
	 		  	QVT Fund LP
Walkers SPV, Walkers House
Mary Street
George Town, Grand Cayman, KY1 9001 Cayman Islands
Cayman Islands Limited Partnership	  		  		
					
	 		  	QVT Associates GP LLC
1177 Avenue of the Americas, 9th Floor
New York, New York 10036
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.	  		  		
			
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)(1)(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).	
 
Page 6 of 9 pages

											
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 4,790,442 shares of Common Stock, and for Quintessence Fund L.P. (“Quintessence”), which beneficially owns 539,861 shares of Common Stock. QVT Financial is also the investment manager for a separate discretionary account managed for Deutsche Bank AG (the “Separate Account”), which holds 299,071 shares of Common Stock. QVT Financial has the power to direct the vote and disposition of the Common Stock held by the Fund, Quintessence and the Separate Account. Accordingly, QVT Financial may be deemed to be the beneficial owner of an aggregate amount of 5,629,374 shares of Common Stock, consisting of the shares owned by the Fund, Quintessence and the shares held in the Separate Account.
 
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. QVT Associates GP LLC, as General Partner of the Fund and Quintessence, may be deemed to beneficially own the aggregate number of shares of Common Stock owned by the Fund and Quintessence, and accordingly, QVT Associates GP LLC may be deemed to be the beneficial owner of an aggregate amount of 5,330,303 shares of Common Stock.
 
Each of QVT Financial and QVT Financial GP LLC disclaim beneficial ownership of the shares of Common Stock owned by the Fund, Quintessence and the Separate Account. QVT Associates GP LLC disclaims beneficial ownership of all shares of Common Stock owned by the Fund and Quintessence, except to the extent of its pecuniary interest therein.
 
The percentage disclosed in Item 11 of the Cover Pages for each reporting person is calculated based upon 77,618,791 shares of Common Stock outstanding, which is the total number of shares of Common Stock issued and outstanding as reported in the Issuer’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2007.	  		  		
					
	  	(b)	  	Percent of class:	  		  		
					
	  		  	See Item 11 of the Cover Pages to this Schedule 13G.	  		  		
					
	  	(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 7 of 9 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: January 30, 2008

QVT FINANCIAL LP	 		 	QVT FUND LP	
			
By QVT Financial GP LLC,	 		 	By QVT Associates GP LLC,	
its General Partner	 		 	its General Partner	
					
By:	 	/s/ Oren Eisner	 		 	By:	 	/s/ Oren Eisner	
Name:	 	Oren Eisner	 		 	Name:	 	Oren Eisner	
Title:	 	Authorized Signatory	 		 	Title:	 	Authorized Signatory	
			
QVT FINANCIAL GP LLC	 		 	QVT ASSOCIATES GP LLC	
					
By:	 	/s/ Oren Eisner	 		 	By:	 	/s/ Oren Eisner	
Name:	 	Oren Eisner	 		 	Name:	 	Oren Eisner	
Title:	 	Authorized Signatory	 		 	Title:	 	Authorized Signatory	
 
Page 8 of 9 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: January 30, 2008

QVT FINANCIAL LP	 		 	QVT FUND LP	
			
By QVT Financial GP LLC,	 		 	By QVT Associates GP LLC,	
its General Partner	 		 	its General Partner	
					
By:	 	/s/ Oren Eisner	 		 	By:	 	/s/ Oren Eisner	
Name:	 	Oren Eisner	 		 	Name:	 	Oren Eisner	
Title:	 	Authorized Signatory	 		 	Title:	 	Authorized Signatory	
			
QVT FINANCIAL GP LLC	 		 	QVT ASSOCIATES GP LLC	
					
By:	 	/s/ Oren Eisner	 		 	By:	 	/s/ Oren Eisner	
Name:	 	Oren Eisner	 		 	Name:	 	Oren Eisner	
Title:	 	Authorized Signatory	 		 	Title:	 	Authorized Signatory	
 
Page 9 of 9 pages