Business
HALOZYME REPORTS SECOND QUARTER 2023 FINANCIAL AND OPERATING RESULTS
Revenue Increased 45% YOY to $221.0 million; GAAP Diluted EPS of $0.56 and Non-GAAP Diluted EPS of $0.741 Royalty Revenue Increased 31% YOY to Record $111.7
About this update from Halozyme Therapeutics, Inc.
[{"type":"text","content":"Revenue Increased 45% YOY to $221.0 million; GAAP Diluted EPS of $0.56 and Non-GAAP Diluted EPS of $0.741 \nRoyalty Revenue Increased 31% YOY to Record $111.7 million\nRaised 2023 Non-GAAP Diluted EPS Guidance to $2.65-$2.75\nUpdated Revenue Guidance to $825-$845 million, Representing 25-28% YOY Growth, and EBITDA Guidance to $420-$440 million, Representing >30% YOY Growth1 \nSAN DIEGO, Aug. 8, 2023 /PRNewswire/ -- Halozyme Therapeutics, Inc. (NASDAQ: HALO) (\"Halozyme\" or the \"Company\") today reported its financial and operating results for the second quarter ended June 30, 2023 and provided an update on its recent corporate activities and outlook.\n\"Our strong second quarter results with record revenue of $221 million and non-GAAP EPS of $0.74 were complemented with significant commercial and clinical advancements with our ENHANZE product pipeline,\" said Dr. Helen Torley, president and chief executive officer of Halozyme. \"The FDA approval for argenx's VYVGART Hytrulo with ENHANZE for generalized myasthenia gravis expanded our commercialized partnered products to six products generating royalty revenue. In addition, argenx's VYVGART Hytrulo achieved positive data in a second indication for CIDP and Roche's SC ocrelizumab with ENHANZE met the phase 3 study primary and secondary endpoints, which support the near-term additional opportunities for growth. We expect our commercialized partnered products to further expand with the potential FDA approval of Roche's SC atezolizumab later this year. We also look forward to late-stage clinical data from argenx for ITP and pemphigus, which will support our future growth trajectory. We are well positioned for another record year with our updated guidance.\"\nRecent Partner Highlights: \nIn July 2023, argenx reported positive data from the ADHERE study evaluating VYVGART® Hytrulo with ENHANZE® in adults with chronic inflammatory demyelinating polyneuropathy (\"CIDP\"). The study met its primary endpoint resulting in a 61% reduction in risk of relapse compared to placebo.In July 2023, Roche announced that the Phase III OCARINA II trial evaluating OCREVUS® (ocrelizumab) with ENHANZE® as a twice a year 10-minute subcutaneous injection met its primary and secondary endpoints in patients with relapsing forms of multiple sclerosis (\"MS\") or primary progressive MS (\"RMS\" or \"PPMS\").In...