Business
HALOZYME REPORTS THIRD QUARTER 2023 FINANCIAL AND OPERATING RESULTS
Royalty Revenue Increased 15% YOY to Record $114.4 million Announces Acceleration into 2023 of Remaining $250M Share Repurchase through ASR GAAP Diluted EPS
About this update from Halozyme Therapeutics, Inc.
[{"type":"text","content":"Royalty Revenue Increased 15% YOY to Record $114.4 million\nAnnounces Acceleration into 2023 of Remaining $250M Share Repurchase through ASR\nGAAP Diluted EPS of $0.61 and Non-GAAP Diluted EPS of $0.751\nMaintained Revenue Guidance and Raised 2023 EBITDA Guidance to $430-$445 million and Non-GAAP EPS Guidance to $2.70-$2.80 \nSAN DIEGO, Nov. 6, 2023 /PRNewswire/ -- Halozyme Therapeutics, Inc. (NASDAQ: HALO) (\"Halozyme\" or the \"Company\") today reported its financial and operating results for the third quarter ended September 30, 2023 and provided an update on its recent corporate activities and outlook.\n\"I am delighted that our strong operating performance and expense management throughout the year have resulted in an increase to EBITDA and non-GAAP EPS guidance. Today, we also announced an acceleration into this year of the remaining $250 million under the current approved $750 million share repurchase plan, authorized in 2021. This action is part of our disciplined and balanced approach to capital allocation and reflects our assessment that share repurchases today are a strong return on investment opportunity,\" said Helen Torley, president and CEO of Halozyme. \"Supporting our conviction in long-term revenue growth and durability, the third quarter was remarkable, with multiple, meaningful, de-risking events and progress for our upcoming series of Wave 3 potential product launches, projected for 2023-2025. I am also pleased with the progress in the quarter in advancing discussions on development of our HVAI.\"\nRecent Corporate Highlights: \nAnnounced an acceleration, into this year, of the remaining $250 million under the current approved $750 million share repurchase plan authorized in 2021. The Company intends to execute the $250 million share repurchase by entering into an accelerated share repurchase (\"ASR\") transaction with a financial Institution, immediately, subject to market conditions.In August 2023, the Company announced positive results of a clinical study with its high-volume auto-injector demonstrating SC administration of 10 mL of a representative biologic product co-formulated with our ENHANZE® drug delivery technology in approximately 30 seconds. The results were presented at the 13th annual Partnership Opportunities in Drug Delivery (\"PODD\") conference in October 2023.Recent Partner Highlights: \nI...