Halozyme Therapeutics, Inc. · NASDAQ:HALO
Halozyme Therapeutics — Q2 2022 Earnings Presentation
17 slides from Halozyme Therapeutics's earnings presentation, Aug 9, 2022
Slide 1: Second Quarter 2022 Financial and Operating Results
Second Quarter 2022 Financial and Operating Results Nasdaq: HALO August 9, 2022 Halozyme Confidential and Proprietary
Slide 2: Forward-Looking Statements
Forward-Looking Statements In addition to historical information, the statements set forth in this presentation include forward-looking statements including, without limitation, statements concerning the Company’s expected future financial performance (including the Company's financial outlook for 2
Slide 3: Halozyme 2Q 2022 Financial and Operating Highlights
Halozyme 2Q 2022 Financial and Operating Highlights 2Q 2022 revenue increased 12% YOY to $152.4 million with GAAP diluted EPS of $0.16 and non- GAAP diluted EPS of $0.53 Record 2Q 2022 royalty revenue increased 86% YOY to $85.3 million Completed Antares Pharma acquisition on May 24, 2022 supporting
Slide 4: Strong Royalty Growth Driven By ENHANZE and Device Royalties
Halozyme Strong Royalty Growth Driven By ENHANZE ® and Device Royalties 86% year-over-year growth Project ~>65% year-over-year growth in 23% sequential growth in Q2 2022 2022 Quarterly Royalty Revenue ($M) Annual Royalty Revenue ($M) $340-$350 $85.3 $69.6 $62.6 $58.6 $203.9 $45.8 $36.9 $32.0 $88.6 $
Slide 5: Total DARZALEX, DARZALEX FASPRO and DARZALEX SC Growth
Total DARZALEX, DARZALEX FASPRO® and DARZALEX SC Wave 1 2 3 4 Growth Total Daratumumab Sales Reported DARZALEX FASPRO® Share of Total EU Conversion3 IV+SC ($B) 1 US DARZALEX® Sales2 $11.8 $10.8 $9.8 80% 83% 72% 76% $8.6 66% $7.3 $6.0 $4.2 80% 2020 2021 2022E 2023E 2024E 2025E 2026E Q2 2021 Q3 2021 Q
Slide 6: ENHANZE: Durable Revenue Potential and Strong Future Growth Opportunities
ENHANZE®: Durable Revenue Potential and Strong Future Growth Opportunities Wave 1 & 2 Wave 3 Wave 4 Wave 5 5 Globally Approved 4 Product Candidates 11 Product Candidates New Nominations Products in Phase 3 in Phase 1 from Current and Atezolizumab SC New Partners Efgartigimod SC Nivolumab SC Ocrelizu
Slide 7: Wave 3 Update
Wave 3 Update Wave 1 2 3 4 Tecentriq® SC and Efgartigimod with ENHANZE® Tecentriq® Efgartigimod Halozyme Second Potential Wave 3 Launch Halozyme First Potential Wave 3 Launch Monoclonal antibody representing first I.V. cancer First-in-class anti-FcRn for serious auto-immune conditions immunotherapy
Slide 8: ENHANZE Partner Product Development Pipeline
ENHANZE® Partner Product Development Pipeline Expected in 2022: At Least 2 New Product Candidates to Enter Clinic and >6 New Phase 2/3 Starts Current Program/Product Indications Phase 1 Phase 2 Phase 3 Filed Wave 3 Efgartigimod (argenx) MG BLA submission expected in 2022 Atezolizumab (Roche) NSCLC M
Slide 9: Diversified Platform Royalty Business and Commercial Portfolio
Diversified Platform Royalty Business and Commercial Portfolio ROYALTY BUSINESS PROPRIETARY PRODUCTS Commercial Development Commercial Generic EpiPen Generic Forsteo Generic Forteo Generic Imitrex (Sumatriptan) Selatogrel Makena Undisclosed Assertio Holdings For the twelve months ended December 31,
Slide 10: Antares Immediately Accelerates Halozyme Growth Prospects and Adds Long-Term Durability of Revenues
Antares Immediately Accelerates Halozyme Growth Prospects and Adds Long-Term Durability of Revenues PROJECTED REVENUE POTENTIAL $1B Drivers Drivers Drivers Current Portfolio • Wave 5 ENHANZE® Products Current Portfolio • Co-formulation patents • Waves 1, 2, 3 and 4 Products submitted 2022-2027 Updat
Slide 11: Strategic Growth and Capital Allocation Priorities
Strategic Growth and Capital Allocation Priorities Leverage drug delivery technology Continue to return capital ENHANZE® and auto-injector to shareholders Identify opportunities for Grow commercial revenue external growth Halozyme Confidential and Proprietary 11
Slide 12: Second Quarter 2022 Financial Highlights
Second Quarter 2022 Financial Highlights1 $ U.S. in Millions, except EPS (unaudited) Q2 2022 Q2 2021 % Change Royalties $85.3 $45.8 86% Product sales, net $46.3 $30.4 53% Collaboration Revenues $20.7 $60.3 (66%) Total Revenues $152.4 $136.5 12% Cost of product sales $33.9 $23.0 47% Amortization of i
Slide 13: Halozyme Updated 2022 Financial Guidance Highlights
Halozyme Updated 2022 Financial Guidance Highlights Prior 2022 Updated 2022 2021 Guidance Guidance • ~48-55% YoY growth • Includes Antares beginning May 24, 2022 which is expected to contribute $115M - $125M Total Revenue $443.3M $530M-$560M $655M-$685M • Milestone revenue similar to 2021 • Product
Slide 14: Thank You!
Thank You! Halozyme Confidential and Proprietary
Slide 15: Q2 2022 Financial Results Appendix
Q2 2022 Financial Results Appendix Halozyme Confidential and Proprietary
Slide 16: GAAP to Non-GAAP Reconciliation: Net Income and Diluted EPS
GAAP to Non-GAAP Reconciliation: Net Income and Diluted EPS $ U.S. in thousands, except per share amounts (unaudited) Dollar amounts, as presented, are rounded. Consequently, totals may not add up. (1) Amount represents incremental costs including legal fees, accounting fees and advisory fees incurr
Slide 17: GAAP to Non-GAAP Reconciliation: Net Income and Diluted EPS 2022 Guidance
GAAP to Non-GAAP Reconciliation: Net Income and Diluted EPS 2022 Guidance $ U.S. in Millions, except EPS (unaudited) Dollar amounts, as presented, are rounded. Consequently, totals may not add up. Halozyme Confidential and Proprietary 17
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