Business
Halozyme Reports First Quarter 2022 Results
First Quarter Revenue of $117.3 million, Representing a 32% YOY Increase, with GAAP Diluted Earnings per Share of $0.43 and Non-GAAP Diluted Earnings per
About this update from Halozyme Therapeutics, Inc.
[{"type":"text","content":"First Quarter Revenue of $117.3 million, Representing a 32% YOY Increase, with GAAP Diluted Earnings per Share of $0.43 and Non-GAAP Diluted Earnings per Share of $0.47\nRecord Quarterly Royalties in the First Quarter of $69.6 million, Representing 89% Growth over First Quarter 2021 \nReiterate 2022 Revenue Guidance of $530 Million to $560 Million, Representing 20-26% Growth over Reported 2021 Revenue\nReiterate 2022 GAAP Operating Income Guidance of $350 million to $380 million, Representing 27%-38% Growth over 2021 GAAP Operating Income\nSAN DIEGO, May 10, 2022 /PRNewswire/ -- Halozyme Therapeutics, Inc. (NASDAQ: HALO) (\"Halozyme\") today reported financial results for the first quarter ended March 31, 2022 and provided an update on its recent corporate activities and outlook.\n\"We started 2022 strongly, achieving record royalty revenues with significant growth that was in-line with our guidance for 2022, and with the signing of a new ENHANZE collaboration and licensing agreement with Chugai Pharmaceutical,\" said Dr. Helen Torley, president and chief executive officer of Halozyme. \"We were delighted to recently announce our plans to acquire Antares Pharma, Inc., which is expected to increase our top and bottom-line growth for the long term. We look forward to a transformative year as we add three commercial products and explore our combined platform capabilities and build on the strong momentum of our ENHANZE® royalty business.\nRecent Partner Highlights:\nIn March 2022, argenx announced positive topline results from its ADAPT-SC study evaluating subcutaneous (SC) efgartigimod (1000mg efgartigimod-PH20) using ENHANZE® drug delivery technology for the treatment of generalized myasthenia gravis. The study met its primary endpoint, demonstrating noninferior total IgG reduction at day 29 with subcutaneously administered efgartigimod compared to intravenous (IV) administration. Based on these results, argenx has stated it plans to submit a Biologics License Application to the U.S. Food and Drug Administration by the end of 2022. Efgartigimod SC is on track to be the first of Halozyme's Wave 3 potential partner launches that are projected to occur between 2023 and 2025. In March 2022, Halozyme and Chugai Pharmaceutical entered into a global collaboration and license agreement for ENHANZE® technology. Halozyme received upfront pa...