Halozyme Therapeutics, Inc. · NASDAQ:HALO
Halozyme Therapeutics — Q1 2022 Earnings Presentation
19 slides from Halozyme Therapeutics's earnings presentation, May 10, 2022
Slide 1: First Quarter 2022 Financial Results Presentation
First Quarter 2022 Financial Results Presentation May 10, 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: Halozyme Strategic and Capital Allocation Priorities
Halozyme Strategic and Capital Allocation Priorities Invest to Maximize Continue to Return Identify ENHANZE® Capital to Opportunities for Revenue Growth Shareholders External growth and Durability Potential M&A expanding platform technologies 3
Slide 4: 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) 89% year-over-year growth and 11% Project 50% year-over-year growth in FY 2022 sequential growth in Q1 2022 ~300 69.6 62.6 58.6 203.9 45.8 36.9 32.0 88.6 6
Slide 5: 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 ® 5
Slide 6: Growth in DARZALEX FASPRO in the U.S.
Growth in DARZALEX FASPRO® in the U.S. Reported DARZALEX FASPRO® Share of Total US Reported DARZALEX Faspro Share of Total US ® DARZALEX® Sales (US) End March 2022¹ DARZALEX® Sales (US) in Last Month of Trailing Four Quarters¹ 90% 80% 70% 60% 50% 40% 80% 30% 20% 10% 0% Jun 2021 Sep 2021 Dec 2021 Mar
Slide 7: ENHANZE: A Royalty Growth Story
ENHANZE® A Royalty Growth Story Projected Royalty Revenue Potential Recent Progress: • Efgartigimod SC positive ADVANCE-SC trial results • Roche Ocrevus Phase 3 study initiated • ViiV N6LS Phase 1 study initiated Drivers $1B Drivers • Wave 5 ENHANZE® Current Portfolio Products • Co-formulation paten
Slide 8: argenx Announces ADAPT-SC, Evaluating Efgartimod SC with ENHANZE Met Primary Endpoint
argenx Announces ADAPT-SC, Evaluating Efgartimod SC with ENHANZE Met Primary Endpoint Topline Results: ADAPT-SC Bridging Study in gMG. Investor Call March 22, 2022 8
Slide 9: Partner Products in Development as of May 2022
15 Partner Products in Development as of May 2022 Current Program/ Product Indications Phase 1 New Starts Phase 1 Ongoing Phase 2 Trial Starts Phase 3 Trial Starts Phase 3 Ongoing ARGX-117 (argenx) Multifocal motor neuropathy Nivolumab+Relatlimab (BMS) Solid tumors Anti-TIM3 (BMS) Solid tumors Recen
Slide 10: ENHANZE: A Royalty Growth Story
ENHANZE® A Royalty Growth Story Projected Royalty Revenue Potential Recent Progress: Recent Progress: • Signed new agreement • Efgartigimod SC positive ADVANCE-SC trial results with Chugai • Roche Ocrevus Phase 3 study initiated • ViiV N6LS Phase 1 study initiated Drivers $1B Drivers • Wave 5 ENHANZ
Slide 11: Year Forward Milestone Revenue Projection
Pipeline and New Deal Progress Drives Significant Revenue 3 Year Forward Milestone Revenue Projection 2020 2021 2022 2023 2024 $350 - $450M Projection Updated End 2019 Actual : $283M $400 - $450M Projection End 2020 Actual : $160M $450 - $500M Projection End 2021 $25M Includes development, commercia
Slide 12: Halozyme's Strategic and Capital Allocation Priorities
Halozyme's Strategic and Capital Allocation Priorities Invest to Maximize ENHANZE® Revenue Growth Identify Opportunities for Return Capital to and Durability External Growth Shareholders Strategic & Potential BD Expanding Capital Allocation Platform Technologies Priorities Differentiated platform Bu
Slide 13: Leveraging Our Joint Expertise to Unlock High Volume Drug Delivery Opportunity
Leveraging Our Joint Expertise to Unlock High Volume Drug Delivery Opportunity Commercially validated ENHANZE® Leading auto injector platform and platform technology, world-class domain expertise partners Flexible delivery force, injection Partner of Choice for Potential to support rapid delivery sp
Slide 14: First Quarter 2022 Financial Highlights
First Quarter 2022 Financial Highlights1 $ U.S. in Millions, except EPS (unaudited) Q1 2022 Q1 2021 % Change Royalties $69.6 $36.9 89% Product sales, net $22.1 $21.8 1.7% Collaboration Revenues $25.5 $30.3 (16)% Total Revenues $117.3 $89.0 32% Cost of product sales $15.9 $18.2 (13)% R&D Expense $11.
Slide 15: 2022 Financial Guidance Highlights
2022 Financial Guidance Highlights 2021 2022 Total Revenue $443.3M $530M-$560M • ~20-26% growth • Includes one new deal upfront milestone • API and milestone revenue overall similar to 2021 • First time annual revenue >$500M Royalty Revenue $203.9M ~$300M • Project ~50% YoY Growth • Second year of p
Slide 16: Halozyme Strategic and Capital Allocation Priorities
Halozyme Strategic and Capital Allocation Priorities Invest to Maximize Continue to Return Identify ENHANZE® Capital to Opportunities for Revenue Growth Shareholders External growth and Durability Potential M&A expanding platform technologies 16
Slide 17: Q1 2022 Financial Results Appendix
Q1 2022 Financial Results Appendix 17
Slide 18: 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) Estimated income tax effect of the Non-GAAP reconciling items are calculated using applicable statutory tax rates, taking into consideration of any valuation allowance. Dollar am
Slide 19: 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. 19
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