Business
Halozyme Reports Third Quarter 2021 Results
- Record Quarterly Royalties in the Third Quarter of $58.6 million Representing 145% Growth over Third Quarter 2020 - - Third Quarter Revenue of $115.8
About this update from Halozyme Therapeutics, Inc.
[{"type":"text","content":"- Record Quarterly Royalties in the Third Quarter of $58.6 million Representing 145% Growth over Third Quarter 2020 -\n - Third Quarter Revenue of $115.8 million with GAAP Diluted Earnings per Share of $1.48 and Non-GAAP Diluted Earnings per Share of $0.55 -\n - Increasing Lower End of Revenue and Operating Income 2021 Guidance Ranges to Reflect Strong Third Quarter Results -\n - Increasing GAAP Diluted Earnings per Share 2021 Guidance to Reflect an Income Tax Benefit Related to the Release of a Valuation Allowance for Deferred Tax Assets, Increasing Lower End of Non-GAAP Diluted Earnings per Share 2021 Guidance -\n\n\nSAN DIEGO, Nov. 2, 2021 /PRNewswire/ -- Halozyme Therapeutics, Inc. (NASDAQ: HALO) today reported financial results for the third quarter ended September 30, 2021 and provided an update on its recent corporate activities and outlook.\n\"Our strong 2021 performance continued in the third quarter fueled by 145% growth over the prior year period in revenue from royalties. We continue to project that full year royalty revenue in 2021 will be more than double 2020 royalty revenue. Our topline growth in turn resulted in strong profitability for the quarter,\" said Dr. Helen Torley, president and chief executive officer. \"We look forward to additional study starts before year-end as our partners continue making progress in the clinic developing products utilizing our ENHANZE® technology, with the goal of providing patients with additional treatment options.\"\nRecent Partner Highlights: \nIn July 2021, Janssen elected the target HIV reverse transcriptase, representing the third target selected by Janssen for development with ENHANZE®. In July 2021, Janssen received U.S. Food and Drug Administration approval for DARZALEX FASPRO® in combination with pomalidomide and dexamethasone for patients with multiple myeloma after first or subsequent relapse. In October 2021, Janssen's DARZALEX FASPRO® was approved by the China National Medical Products Administration (NMPA) for the treatment of primary light chain amyloidosis, in combination with bortezomib, cyclophosphamide and dexamethasone (D-VCd) in newly diagnosed patients. This followed a similar approval Janssen Pharmaceutical K.K. received in August 2021 from Japan's Ministry of Health, Labour and Welfare (MHLW) for DARZQURO® (Daratumumab SC) for the additional indication o...