Business
Halozyme Provides 2023 Financial Guidance and Outlook
2023 Total Revenue Guidance of $815 to $845 Million Representing >20% Growth Over Expected 2022 Revenue 2023 Recurring Revenues from Royalties Projected to
About this update from Halozyme Therapeutics, Inc.
[{"type":"text","content":"2023 Total Revenue Guidance of $815 to $845 Million Representing >20% Growth Over Expected 2022 Revenue\n2023 Recurring Revenues from Royalties Projected to Grow by >20% to $445 to $455 Million\n2023 EBITDA Projected to Grow by >30% Year-Over-Year to $415 to $440 Million\n2023 Non-GAAP Diluted EPS Guidance of $2.50 to $2.65 \nSAN DIEGO, Jan. 10, 2023 /PRNewswire/ -- Halozyme Therapeutics, Inc. (NASDAQ: HALO) today announced its 2023 financial guidance and commented on its outlook for the upcoming year.\n\"In 2022, we project we achieved record revenue of greater than $655 million and we completed the acquisition of Antares Pharma, opening up an expanded set of opportunities for our subcutaneous drug delivery business,\" said Dr. Helen Torley, president and chief executive officer. \"In 2023, we project record revenue of $815 to $845M and greater than 30% growth in EBITDA to $415 to $440 million. As our ENHANZE pipeline advances, we are excited about the future royalty revenue opportunities represented in 2023 by the potential for two new commercial launches, SC efgartigimod and SC atezolizumab.\"\nAnticipated 2023 Key Events:Projected growth of >20% in the Company's high-margin, recurring revenue stream from royalties to approximately $445 to $455 million driven by continued strength in Wave 2 products, including DARZALEX® SC (daratumumab) and Phesgo® (pertuzumab, trastuzumab and hyaluronidase) utilizing ENHANZE® technology, as well as full year auto-injector royalty contribution.Two ENHANZE® subcutaneous (SC) approvals and commercial launches by collaboration partners, including SC efgartigimod and SC atezolizumab.Four Phase 3 study data readouts from products utilizing ENHANZE® by the Company's collaboration partnersSC efgartigimod in CIDP, ITP and Pemphigus (autoimmune disorders of the nervous system, blood and skin)SC ocrelizumab for certain patients with multiple sclerosisAt least 2 new products utilizing ENHANZE® entering Phase 1 development by the Company's collaboration partners.At least one new collaboration and licensing agreement for ENHANZE®, for a partner to test our developmental large volume auto-injector plus ENHANZE®, and for our small volume auto-injector.Initiation of a clinical study to continue to evaluate the feasibility testing of our large volume auto-injector.Up to $150 million in share repurchases, depe...