Halozyme Therapeutics, Inc. · NASDAQ:HALO
Halozyme Therapeutics — Q2 2021 Earnings Presentation
16 slides from Halozyme Therapeutics's earnings presentation, Aug 9, 2021
Slide 1: Second Quarter 2021 Financial Results Presentation
Second Quarter 2021 Financial Results Presentation August 9, 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: ViiV Healthcare - Deal Highlights
ViiV Healthcare - Deal Highlights • 11th ENHANZE® collaboration and license agreement • 4 targets with a goal of developing of "ultra-long-acting" medicines for HIV • $40 million upfront payment with up to $175 million per target in development and commercial milestones • Potential for mid-single di
Slide 4: Continued Strong Royalty Growth Primarily Driven by DARZALEX SC Launch
Continued Strong Royalty Growth Primarily Driven by DARZALEX® (daratumumab) SC Launch Quarterly Royalty Revenue ($M) Annual Royalty Revenue ($M) 189% year-over-year growth and 24% sequential growth in Q2 2021 driven by DARZALEX® SC utilizing ENHANZE® 45.8 36.9 32.0 88.6 69.9 23.9 16.8 15.8 Q1 Q2 Q3
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 June 2021¹ 70% 60% 50% 40% 30% 66% 20% 10% 0% Sep 2020 Dec 2020 Mar 2021 Jun 2021 1. S
Slide 6: 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 6
Slide 7: 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 8: 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) $91M $274M through June 2021 End 2019 $350 - $450M Updated Projection Actual: $123M $91M $214M at Half-way Point End
Slide 9: Second Quarter 2021 Revenue Highlights
Second Quarter 2021 Revenue Highlights1 $ U.S. in Millions (unaudited) Q2 2021 Q2 2020 % Change Total Revenue $136.5 $55.2 147% Royalty Revenue $45.8 $15.8 189% Product Sales (incl. bulk rHuPH20 and ENHANZE® Drug Product Sales, and $30.4 $6.3 379% Hylenex® (Hyaluronidase Human Injection)) Collaborat
Slide 10: Second Quarter 2021 Financial Highlights
Second Quarter 2021 Financial Highlights1 $ U.S. in Millions, except EPS (unaudited) Q2 2021 Q2 2020 % Change Total Revenue $136.5 $55.2 147% Total Operating Expense $43.4 $25.7 69% Cost of Product Sales $23.0 $5.7 302% R&D Expense $8.1 $9.0 (10%) SG&A Expense $12.3 $11.0 12% Operating Income $93.0
Slide 11: 2021 Annual Financial Guidance
2021 Annual Financial Guidance Prior New Comment - Updated guidance represents growth of 59%-66% over 2020 - Revenues from royalties projected to more than double Net Revenue $375 - $395M $425 - $445M - Revenues from product sales projected to increase 70 – 80% - Revenues under collaborative agreeme
Slide 12: Continue to Return Significant Capital to Shareholders
Continue to Return Significant Capital to Shareholders Capital Allocation Priorities 1 Maintain Strong Balance Sheet 2 Share Repurchases 3 Internal and External Growth • Cash, cash equivalents • $550M repurchase • Continue to & marketable securities program 2019-2022 maximize ENHANZE® $755M at June
Slide 13: Potential Value-Driving Events in 2021
Potential Value-Driving Events in 2021 Continued product launch momentum (Wave 2): DARZALEX® SC: US and International Phesgo® US and EU Launch 3 products in Phase 3 in 6 Indications: Potential Wave 3 launches 5 NEW phase 1 starts resulting in 13 ongoing Phase 1: Potential Wave 4 launches New partner
Slide 14: Q2 2021 Financial Results Appendix
Q2 2021 Financial Results Appendix 14
Slide 15: 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 1 Dollar amounts and percentages, as presented, are rounded. Consequently totals may not add up. 2 Estimated income tax effect of the Non-GAAP reconciling items are calculated using
Slide 16: 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)1 1 Dollar amounts and percentages, as presented, are rounded. Consequently totals may not add up. 16
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