Business
Halozyme Reiterates 2024 Financial Guidance and Raises 2025 and Multi-Year Financial Guidance
Reports Preliminary 2024 Unaudited Estimated Ranges Consistent with Previous Financial Guidance Raises 2025 Financial Guidance Ranges for Total Revenue to
About this update from Halozyme Therapeutics, Inc.
[{"type":"text","content":"Reports Preliminary 2024 Unaudited Estimated Ranges Consistent with Previous Financial Guidance \nRaises 2025 Financial Guidance Ranges for Total Revenue to $1,150 - $1,225 million, Representing YoY Growth of 16% - 23%, Adjusted EBITDA of $755 - $805 million, Representing YoY Growth of 24% - 32%, and non-GAAP Diluted EPS of $4.95 - $5.35, Representing YoY Growth of 21% - 30%1,2\nAnnounces New $250 million Accelerated Share Repurchase\nConference Call Scheduled Today at 5:30am PT/8:30am ET\nSAN DIEGO, Jan. 8, 2025 /PRNewswire/ -- Halozyme Therapeutics, Inc. (NASDAQ: HALO) (\"Halozyme\" or the \"Company\") today provided a financial update, reiterating full year 2024 financial guidance and raising full year 2025 and multi-year financial guidance. The Company also announced it has recently entered into a new $250 million accelerated share repurchase (ASR) program under its previously announced $750 million share repurchase program.\n\"Halozyme is at the forefront of drug delivery innovation, fostering a high-growth and durable business underpinned by our proprietary ENHANZE drug delivery technology. This leadership position is reflected in the global launch of nine ENHANZE co-formulated products, a robust pipeline and continuing interest from potential new partners,\" said Dr. Helen Torley, president and chief executive officer. \"Our 2025 guidance, with projected revenue growth of 16% to 23% and adjusted EBITDA growth of 24% to 32%, is largely driven by VYVGART Hytrulo, which has received strong early acceptance in generalized myasthenia gravis, and is now seeing growing adoption in CIDP following the June 2024 U.S. approval, and by the continued strong growth of Darzalex SC and Phesgo. Three additional products, Ocrevus Zunovo, Tecentriq Hybreza and Opdivo Qvantig, which are in the early stages of commercialization following recent approvals, are projected to contribute modestly in 2025, growing meaningfully from 2026 onwards. The combined continued projected growth of each product in this exciting de-risked portfolio is what resulted in our also raising our multi-year guidance.\"\nTable 1. 2024 Unaudited Preliminary Estimates of Results for the Twelve Months Ended December 31, 2024\n2024 Estimate\nTotal Revenue\n$970 to $1,020 million\nRoyalty Revenue\n$550 to $565 million\nNet Income\n$419 to $443 million\nAdjusted EBITDA\n$595...