Halozyme Therapeutics, Inc. · NASDAQ:HALO
Halozyme Therapeutics — Q3 2021 Earnings Presentation
15 slides from Halozyme Therapeutics's earnings presentation, Nov 2, 2021
Slide 1: Third Quarter 2021 Financial Results Presentation
Third Quarter 2021 Financial Results Presentation November 2, 2021
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) 145% year-over-year growth and 28% sequential growth in Q3 2021 driven largely by DARZALEX® SC utilizing ENHANZE® 58.6 45.8 36.9 88.6 32.0 69.9 23.9 15.8 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 September 2021¹ 80% 70% 60% 50% 40% 30% 72% 20% 10% 0% Dec 2020 Mar 2021 Jun 2021 Sep
Slide 6: Project 16 Products In Development by YE 2021
Project 16 Products In Development by YE 2021 Phase 1 Phase 1 Phase 2 Phase 3 Current Program / Product Indications New Starts Ongoing Trial Starts Trial Starts Teprotumumab-trbw (Horizon) Thyroid Eye Disease N6LS bnAb (VRC) HIV (treatment) ARGX-117 (argenx) Multifocal motor neuropathy Anti-TIM3 (BM
Slide 7: Projected Milestones Drive Revenue and Free Cash Flow
Projected Milestones Drive Revenue and Free Cash Flow 3 Year Forward Milestone Revenue Projection 2019 2020 2021 2022 2023 End 2018 $225 - $300M Projection Actual: $183M (2019 & 2020) $122M $305M through September 2021 End 2019 $350 - $450M Updated Projection Actual: $123M $122M $245M through Septem
Slide 8: Third Quarter 2021 Revenue Highlights
Third Quarter 2021 Revenue Highlights1 $ U.S. in Millions (unaudited) Q3 2021 Q3 2020 % Change Total Revenue $115.8 $65.3 77% Royalty Revenue $58.6 $23.9 145% Product Sales (incl. bulk rHuPH20 and Hylenex® $25.0 $9.0 177% (Hyaluronidase Human Injection)) Collaboration Revenue $32.2 $32.3 - 1) Dollar
Slide 9: Third Quarter 2021 Financial Highlights
Third Quarter 2021 Financial Highlights1 $ U.S. in Millions, except EPS (unaudited) Q3 2021 Q3 2020 % Change Total Revenue $115.8 $65.3 77% Total Operating Expense $40.2 $25.0 61% Cost of Product Sales $18.6 $5.6 234% R&D Expense $8.5 $7.7 10% SG&A Expense $13.2 $11.7 13% Operating Income $75.6 $40.
Slide 10: 2021 Annual Financial Guidance
2021 Annual Financial Guidance Prior New Comment - Updated guidance represents growth of 61%-66% over 2020 - Revenues from royalties projected to more than double Net Revenue $425 - $445M $430 - $445M - Revenues from product sales projected to increase 79 – 88% - Revenues under collaborative agreeme
Slide 11: Continue to Return Significant Capital to Shareholders
Continue to Return Significant Capital to Shareholders Capital Allocation Priorities Maintain Share Internal and Strong Repurchases External Balance Sheet Growth • Cash, cash equivalents • $550M three-year • Continue to & marketable securities repurchase program maximize ENHANZE® $816M at September
Slide 12: Potential Value-Driving Events in 2021
Potential Value-Driving Events in 2021 Continued product launch momentum: DARZALEX® SC: US and International Phesgo® US and EU Launch 3 New phase1 study starts resulting in 16 products in development Potential for new partners, new nominations/trial starts Potential for growth through M&A 12
Slide 13: Q3 2021 Financial Results Appendix
Q3 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) Three Months Ended September 30, 2021 2020 GAAP Net Income $ 216,587 $ 36,207 Adjustments: Share-based compensation 5,399 4,220 Amortization of debt discount 968 3,552 Income tax ben
Slide 15: GAAP to Non-GAAP Reconciliation: Net Income and Diluted EPS 2021 Guidance
GAAP to Non-GAAP Reconciliation: Net Income and Diluted EPS 2021 Guidance $ U.S. in Millions, except EPS (unaudited) Dollar amounts, as presented, are rounded. Consequently totals may not add up. 15
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