Business
HALOZYME REPORTS FIRST QUARTER 2024 FINANCIAL AND OPERATING RESULTS
Revenue Increased 21% YOY to $196 million; Net Income of $77 million; Adjusted EBITDA of $116 million; GAAP Diluted EPS of $0.60 and Non-GAAP Diluted EPS of
About this update from Halozyme Therapeutics, Inc.
[{"type":"text","content":"Revenue Increased 21% YOY to $196 million; Net Income of $77 million; Adjusted EBITDA of $116 million; GAAP Diluted EPS of $0.60 and Non-GAAP Diluted EPS of $0.791\nRoyalty Revenue Increased 21% YOY to $121 million\nReiterating 2024 Financial Guidance: Total Revenue of $915 - $985 million, Representing YOY Growth of 10% - 19%, Adjusted EBITDA of $535 - $585 million, Representing YOY Growth of 26% - 37% and Non-GAAP Diluted EPS of $3.55 - $3.90, Representing YOY Growth of 28% - 41%\nAnnounced New $750 million Share Repurchase Program\nSAN DIEGO, May 7, 2024 /PRNewswire/ -- Halozyme Therapeutics, Inc. (NASDAQ: HALO) (\"Halozyme\" or the \"Company\") today reported its financial and operating results for the first quarter ended March 31, 2024, and provided an update on its recent corporate activities and outlook.\n\"We are pleased to report another quarter of double-digit revenue and earnings growth, which keeps us on track to meet our financial guidance for the full year. We entered the new year with continued strong advancement of our ENHANZE partner products and pipeline. Our partnership with argenx represents a significant growth opportunity following the approval for VYVDURA, efgartigimod co-formulated with ENHANZE, for generalized myasthenia gravis in Japan and with the potential U.S. approval for VYVGART Hytrulo for CIDP in June 2024. Following European approval of Roche's Tecentriq SC, we look forward to potential U.S. approval for Tecentriq SC in September 2024. Roche has also received a recommendation for approval of ocrelizumab SC by the European Medicines Agency's Committee for Medicinal Products for Human Use, with final approval expected mid-year and a potential U.S. approval in September 2024. Continuing our strong Wave 3 progress, BMS recently announced a U.S. Prescription Drug User Fee Act goal date of February 28, 2025 for nivolumab SC,\" said Dr. Helen Torley, president and chief executive officer of Halozyme. \"Our leading innovations are the driver of our robust portfolio and patent estate that is resulting in new revenue opportunities and durable revenue and EBITDA growth.\"\nRecent Partner Highlights:\nIn May 2024, Bristol Myers Squibb announced that the U.S. Food and Drug Administration (\"FDA\") accepted its Biologics License Application for the subcutaneous formulation of Opdivo® (nivolumab) co-formulated ...