Halozyme Therapeutics, Inc. · NASDAQ:HALO
Halozyme Therapeutics — FY2021 Earnings Presentation
15 slides from Halozyme Therapeutics's earnings presentation, Feb 22, 2022
Slide 1: Fourth Quarter and Full Year 2021 Financial Results Presentation
Fourth Quarter and Full Year 2021 Financial Results Presentation February 22, 2022
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: Continued Strong Royalty Growth Primarily Driven by DARZALEX SC Launch
Continued Strong Royalty Growth Primarily Driven by DARZALEX® (daratumumab) SC Launch Quarterly Royalty Revenue ($M) Annual Royalty Revenue ($M) 96% year-over-year growth and 7% 130% year-over-year growth in FY 2021 sequential growth in Q4 2021 ~300 62.6 58.6 203.9 45.8 36.9 32.0 23.9 88.6 69.9 Q3 Q
Slide 4: Five Partner Products Commercialized in Global Markets: Wave 1 and 2 Launches
Five Partner Products Commercialized in Global Markets: Wave 1 and 2 Launches Wave 1 / / Wave 2 / DARZALEX® SC 4
Slide 5: Growth in DARZALEX FASPRO in the U.S.
Growth in DARZALEX FASPRO® in the U.S. Reported DARZALEX FASPRO® Share of Total US DARZALEX® Reported DARZALEX Faspro® Share of Total US Sales (US) in Last Month of Trailing Four Quarters¹ DARZALEX® Sales (US) End December 2021¹ 90% 80% 70% 60% 50% 40% 30% 76% 20% 10% 0% Mar 2021 Jun 2021 Sep 2021 D
Slide 6: 15 Partner Products in Development as of February 2022
15 Partner Products in Development as of February 2022 Phase 1 Phase 1 Phase 2 Phase 3 Current Program / Product Indications New Starts Ongoing Trial Starts Trial Starts ARGX-117 (argenx) Multifocal motor neuropathy Nivolumab+Relatlimab (BMS) Solid tumors Anti-TIM3 (BMS) Solid tumors CAP256V2LS (CAP
Slide 7: Pipeline and New Deal Progress Drives Significant Revenue Year Forward Milestone Revenue Projection
Pipeline and New Deal Progress Drives Significant Revenue 3 Year Forward Milestone Revenue Projection 2019 2020 2021 2022 2023 2024 $225 - $300M End 2018 Projection Actual: $318M Revenue Guidance Range exceeded $350 - $450M Projection Updated End 2019 Actual: $258M On track after year 2 $400 - $450M
Slide 8: ENHANZE: A Royalty Growth Story
ENHANZE® A Royalty Growth Story Projected Royalty Revenue Potential Drivers $1B Drivers • Wave 5 ENHANZE® Current Portfolio Products • Co-formulation patents • Waves 1, 2, 3 and 4 submitted 2022-2027 Products • NEW rHuPH20 with • Granted and submitted extended room temp. $203.9M co-formulation paten
Slide 9: Fourth Quarter 2021 Financial Highlights
Fourth Quarter 2021 Financial Highlights1 $ U.S. in Millions, except EPS (unaudited) Q4 2021 Q4 2020 % Change Royalties $62.6 $32.0 96% Product sales, net $27.1 $32.5 (17)% Collaboration Revenues $12.3 $57.3 (78)% Total Revenues $102.0 $121.7 (16)% Cost of product sales $21.6 $26.3 (18)% R&D Expense
Slide 10: Full Year 2021 Financial Highlights
Full Year 2021 Financial Highlights1 $ U.S. in Millions, except EPS FY 2021 FY 2020 % Change Royalties $203.9 $88.6 130% Product sales, net $104.2 $56.0 86% Collaboration Revenues $135.2 $123.0 10% Total Revenues $443.3 $267.6 66% Cost of product sales $81.4 $43.4 88% R&D Expense $35.7 $34.2 4% SG&A
Slide 11: 2022 Financial Guidance Highlights
2022 Financial Guidance Highlights 2021 2022 • ~20-26% growth • Includes one new deal upfront milestone Total Revenue $443.3M $530M-$560M • API and milestone revenue overall similar to 2021 • First time annual revenue >$500M • Project ~50% YoY Growth Royalty Revenue $203.9M ~$300M • Second year of p
Slide 12: Capital Allocation Priorities
Capital Allocation Priorities Invest to Maximize Continue to Return Identify ENHANZE® Growth Capital to Opportunities for and Durability Shareholders External growth Potential M&A expanding platform technologies 12
Slide 13: Q4 and FY 2021 Financial Results Appendix
Q4 and FY 2021 Financial Results Appendix 13
Slide 14: 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) (1) In 2021, the Company recognized a non-cash tax benefit of approximately $154 million related to the release of substantially all of its valuation allowance against its deferred t
Slide 15: 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. 15