Business
Halozyme Reports First Quarter 2021 Results
- First Quarter Revenue of $89.0 million, Up from $25.4 million in First Quarter of 2020 - - Record Quarterly Royalties in the First Quarter of $36.9 million
About this update from Halozyme Therapeutics, Inc.
[{"type":"text","content":"- First Quarter Revenue of $89.0 million, Up from $25.4 million in First Quarter of 2020 -\n - Record Quarterly Royalties in the First Quarter of $36.9 million Representing 119% Growth over First Quarter 2020 -\n - Reiterate 2021 Revenue Guidance of $375 Million to $395 Million Representing 40% to 48% Growth over 2020 Revenue -\n - Reiterate 2021 GAAP Operating Income Guidance of $215 million to $235 million, Representing 49%-63% Growth over 2020 GAAP Operating Income -\n\n\n SAN DIEGO, May 10, 2021 /PRNewswire/ -- Halozyme Therapeutics, Inc. (NASDAQ: HALO) today reported financial results for the first quarter ended March 31, 2021 and provided an update on its recent corporate activities and outlook.\n\"The first quarter marked a strong start to 2021 highlighted by record quarterly royalty revenue driven by the continued successful launch of subcutaneous DARZALEX® worldwide,\" said Dr. Helen Torley, president and chief executive officer. \"Our pipeline of partnered product candidates using ENHANZE® technology continues to build momentum with four new clinical study starts in the first quarter. Additionally, we were able to strengthen our balance sheet on highly attractive terms reflective of the strong anticipated cash flow generation and growth prospects for Halozyme.\"\n Recent Partner Highlights: \nJanssen achieved several important successes related to the subcutaneous formulation of DARZALEX® (daratumumab) using ENHANZE® technology during the first quarter and since including: Janssen Pharmaceutical K.K. announced approval from Japan's Ministry of Health, Labour and Welfare (MHLW) in March for the subcutaneous formulation of DARZALEX® (known as DALACURO® in Japan) for the treatment of multiple myeloma. Accordingly, Halozyme recognized $5 million in milestone revenues. The Janssen Pharmaceutical Companies of Johnson & Johnson announced Health Canada approved DARZALEX® SC (daratumumab injection), a subcutaneous (SC) formulation of daratumumab, in combination with bortezomib, cyclophosphamide and dexamethasone (D-VCd, also known as DCyBorD) in April for the treatment of adult patients with newly diagnosed light chain (AL) amyloidosis. There were previously no approved therapies for the disease. Janssen Biotech, Inc. received U.S. Food and Drug Administration accelerated approval in January for DARZALEX FASPRO® (daratumumab an...