Business
Halozyme Provides 2020 Business Update And Financial Guidance
- 2020 Guidance of $230 Million to $245 Million in Revenues and $0.60 to $0.75 in Earnings Per Share - - Anticipated ENHANZE® Partner Progress in 2020
About this update from Halozyme Therapeutics, Inc.
[{"type":"text","content":"- 2020 Guidance of $230 Million to $245 Million in Revenues and $0.60 to $0.75 in Earnings Per Share -\n - Anticipated ENHANZE® Partner Progress in 2020 Includes At Least One Potential FDA Approval, Three New Phase 3, One New Phase 2 and Five New Phase 1 Trial Initiations -\n - $200 Million of $550 Million Three Year Share Repurchase Program to Be Completed in First Quarter of 2020 -\n\n\nSAN DIEGO, Jan. 14, 2020 /PRNewswire/ -- Halozyme Therapeutics, Inc. (NASDAQ: HALO) today provided an update on its outlook for 2020, including financial guidance.\n\"We have made tremendous progress repositioning the company to focus solely on driving the growth and profitability of our ENHANZE® business,\" said Dr. Helen Torley, president and chief executive officer. \"Looking ahead, we anticipate a number of value-creating financial and ENHANZE-related milestones will be achieved during 2020.\"\nAnticipated 2020 ENHANZE® Key Events\nU.S. Food and Drug Administration (FDA) decision on the approval of the Biologics License Application submitted by ENHANZE® collaboration partner Janssen Biotech, Inc. (Janssen) in July 2019 for Daratumumab SC. European Medicines Agency (EMA) decision on the approval of the extension application submitted by Janssen-Cilag International NV (Janssen) in July 2019 for Daratumumab SC. Completion in Q1 2020 of regulatory submissions to the FDA and EMA by Roche seeking approval for the fixed-dose combination of Perjeta® and Herceptin® utilizing ENHANZE® in combination with intravenous chemotherapy. At least 3 new Phase 3 and 1 Phase 2 clinical trial initiations by ENHANZE® collaboration partners. Initiation of at least five new Phase 1 clinical trials with partner products utilizing the ENHANZE® drug delivery technology.Update on Capital Return Program\nOn November 4, 2019 the Company announced its Board of Directors approved a plan to repurchase up to $350 million in stock over the next three years. Subsequently, on November 12, 2019 the Company announced the Board further approved the repurchase of an additional $200 million worth of shares in conjunction with an offering of convertible senior notes, due 2024, resulting in a total three-year share repurchase authorization of up to $550 million. \nAs of December 31, 2019, the Company had repurchased 8.5 million shares of Halozyme stock under this program. In addition,...