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NEW YORK ( TheStreet) -- Savient Pharmaceuticals (Nasdaq: SVNT) hit a new 52-week low Tuesday as it is currently trading at $3.51, below its previous 52-week low of $3.53 with 1.7 million shares traded as of 2:15 p.m. ET. Average volume has been 1.8 million shares over the past 30 days. Savient has a market cap of $292.7 million and is part of the health care sector and drugs industry. Shares are down 66.6% year to date as of the close of trading on Monday. Savient Pharmaceuticals, Inc., a specialty biopharmaceutical company, focuses on developing KRYSTEXXA, a biologic PEGylated uricase in the United States. The KRYSTEXXA is being developed as a treatment for chronic gout in patients refractory to conventional therapy.