Halozyme Therapeutics FY Conference Summary Company Overview - **Company**: Halozyme Therapeutics (NasdaqGS: HALO) - **Event**: FY Conference held on December 02, 2025 - **Key Speaker**: Dr. Helen Torley, CEO Core Business and Technologies - Halozyme is experiencing significant adoption of its technologies, particularly with argenx's VYVGART Hytrulo and the success of DARZALEX SubQ, where 96% of patients in the US utilize the SubQ version [2][4] - The recent acquisition of Elektrofi for its HyperCon technology aims to enhance home delivery of biologic therapies through autoinjectors, expanding Halozyme's portfolio to three leading technologies [2][5] Financial Performance - Halozyme has raised its revenue guidance to $1.3-$1.375 billion, driven by a 50% year-over-year growth in royalties, expected to reach $850-$880 million [4] - EBITDA is projected to grow nearly 50%, reaching between $880 million and $930 million [4] Product Portfolio and Future Growth - Key products driving revenue include DARZALEX, PHESGO, and VYVGART Hytrulo, with expectations for new products like SubQ OCREVUS, OPDIVO, TECENTRIQ, and RYBREVANT to contribute significantly in the coming years [6][7] - DARZALEX is projected to grow from $14-$15 billion this year to $18 billion by 2028, with over 90% of its use being SubQ with ENHANZE [8] - PHESGO is expected to grow to $3-$3.5 billion, while VYVGART Hytrulo is anticipated to reach $4 billion, with projections of $8 billion based on current indications [9] Regulatory Environment and IRA Impact - Concerns regarding the IRA price negotiation have been downplayed, with Halozyme confident that its products will not be significantly impacted due to their classification and the presence of biosimilars [11][14] - The One Big Beautiful Bill Act clarifies that products with multiple orphan indications will not be included in IRA negotiations, benefiting Halozyme's portfolio [12][13] Elektrofi Acquisition Insights - The acquisition of Elektrofi is seen as timely, as the company has secured major deals and is at a value inflection point with products expected to enter clinical trials soon [16][17] - HyperCon technology allows for higher concentration drug delivery, with IP protection extending to the mid-2040s, providing additional revenue opportunities [18][19] Litigation and Patent Portfolio - Halozyme is currently in litigation with Merck regarding its MDASE patent portfolio, which is separate from its ENHANZE portfolio, ensuring no risk to ENHANZE royalties [23][24] - The company is pursuing a permanent injunction and triple damages in the litigation, while remaining open to licensing agreements with Merck [24] Strategic Partnerships and Deal Structure - Halozyme is shifting towards non-exclusive deals for bispecific products, allowing for greater flexibility and collaboration with multiple partners [27][28] - The company aims to continue adding new products and royalty streams to sustain its growth trajectory [10][29] Conclusion - Halozyme is positioned for strong growth driven by its ENHANZE technology and the new HyperCon technology, with a robust pipeline of products and a favorable regulatory outlook [29][30]

Core Viewpoint - Halozyme Therapeutics (HALO) has received an upgrade to a Zacks Rank 2 (Buy), indicating a positive outlook based on rising earnings estimates, which are a significant factor influencing stock prices [1][4]. Earnings Estimates and Stock Ratings - The Zacks rating system is primarily driven by changes in a company's earnings picture, with the Zacks Consensus Estimate tracking EPS estimates from sell-side analysts [2]. - The Zacks rating system is beneficial for investors as it provides a clearer picture of stock ratings compared to subjective Wall Street analyst upgrades [3]. Impact of Earnings Estimates on Stock Prices - Changes in future earnings potential, reflected in earnings estimate revisions, are strongly correlated with near-term stock price movements, influenced by institutional investors [5]. - For Halozyme Therapeutics, the increase in earnings estimates and the rating upgrade suggest an improvement in the company's underlying business, likely leading to higher stock prices [6]. Importance of Tracking Earnings Revisions - Empirical research supports the correlation between earnings estimate revisions and stock movements, making it advantageous for investors to track these revisions [7]. - The Zacks Rank system effectively utilizes earnings estimate revisions to classify stocks, with a strong historical performance of Zacks Rank 1 stocks generating an average annual return of +25% since 1988 [8]. Current Earnings Estimates for Halozyme Therapeutics - For the fiscal year ending December 2025, Halozyme is expected to earn $6.28 per share, with a 2.1% increase in the Zacks Consensus Estimate over the past three months [9]. Zacks Rating System Overview - The Zacks rating system maintains a balanced distribution of "buy" and "sell" ratings across over 4,000 stocks, with only the top 20% receiving favorable ratings [10][11]. - The upgrade of Halozyme Therapeutics to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating strong potential for market-beating returns in the near term [11].

Meridian Funds, managed by ArrowMark Partners, released its “Meridian Growth Fund” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. Equities hit a record high in the third quarter, fueled by continued gains in technology and falling bond yields. Easing tariff rhetoric and renewed AI infrastructure investments boosted large tech stocks. In mid-September U.S. Federal Reserve lowered rates by 25 basis points. Against this backdrop, the fund returned -1.78% (net) compared to the ...

Core Insights - Halozyme Therapeutics, Inc. (NASDAQ:HALO) is recognized as one of the best small-cap stocks with significant upside potential according to Reddit discussions [2] - The company focuses on oncology therapies targeting the tumor microenvironment and has recently acquired Elektrofi to enhance its drug delivery capabilities [2] - The stock has appreciated approximately 54% year-to-date [2] Financial Performance - Halozyme reported a revenue growth of 22% year-over-year in its latest quarterly results, with royalty revenue increasing by 52% [3] - The company raised its full-year guidance in May, indicating strong earnings performance [4] Product Developments - The FDA approved Darzalex Faspro, an injectable version of the multiple myeloma therapy daratumumab, developed by Johnson & Johnson and Halozyme, as a front-line treatment for light chain amyloidosis [3] Market Sentiment - Artisan Small Cap Fund noted that despite strong earnings and raised guidance, Halozyme's shares faced pressure due to uncertainty regarding new draft guidance from the Centers for Medicare and Medicaid Services (CMS) on drug pricing [4] - The fund expressed a belief that while Halozyme has investment potential, some AI stocks may offer greater returns with limited downside risk [4]

Core Insights - Halozyme Therapeutics, Inc. will present at the 8th Annual Evercore Healthcare Conference on December 2, 2025, at 10:20 am PT / 1:20 pm ET, hosted by Dr. Helen Torley, the president and CEO [1] Company Overview - Halozyme is a biopharmaceutical company focused on innovative solutions to enhance patient experiences and outcomes for both emerging and established therapies [3] - The company is known for its ENHANZE® drug delivery technology, which utilizes the proprietary enzyme rHuPH20 to facilitate subcutaneous delivery of injected drugs, improving convenience and reducing treatment burden [4] - ENHANZE® has impacted over one million patients through ten commercialized products across more than 100 global markets, with partnerships involving major pharmaceutical companies such as Roche, Takeda, and Pfizer [4] Technology Development - Halozyme is developing Hypercon™, a microparticle technology aimed at hyper-concentration of drugs and biologics, which is expected to reduce injection volume while expanding at-home and healthcare provider administration opportunities [5] - The Hypercon™ technology has been licensed to leading biopharmaceutical partners, including Johnson & Johnson and Eli Lilly, enhancing the company's drug delivery capabilities [5] Product Portfolio - The company also develops drug-device combination products using advanced auto-injector technologies to improve patient comfort and adherence, with proprietary products like Hylenex® and XYOSTED® [6] - Halozyme has ongoing development programs in collaboration with Teva Pharmaceuticals and McDermott Laboratories Limited, an affiliate of Viatris Inc. [6] Corporate Information - Halozyme is headquartered in San Diego, California, with additional offices in Ewing, New Jersey; Minnetonka, Minnesota; and Boston, Massachusetts [7]

Core Insights - Halozyme Therapeutics (HALO) has shown a significant upward movement in its stock price following the release of better-than-expected financial results for its third quarter, indicating a positive market reaction to the company's performance [1]. Company Summary - Halozyme Therapeutics specializes in medical technology and collaborates with major pharmaceutical companies such as Johnson & Johnson (JNJ), Bristol Myers Squibb (BMY), and Roche (RHHBY) by providing drug delivery technology in exchange for royalties [1]. Market Performance - The stock of Halozyme Therapeutics is climbing off the bottom of a consolidation pattern, suggesting a potential for further growth and possibly reaching record highs in the near future [4].

Core Insights - Halozyme Therapeutics has successfully completed the acquisition of Elektrofi, a biopharmaceutical company specializing in ultra-high concentration microparticle formulation technology for biologics, branded as Hypercon™ [1] Group 1: Acquisition Details - The acquisition follows the expiration of the Hart-Scott-Rodino waiting period and the satisfaction of all closing conditions [1] - The initial partner targets for Halozyme include derisked Mechanisms of Action (MoAs) that are currently approved blockbusters [1] Group 2: Future Projections - Royalty revenue contribution from the acquisition is expected to begin as early as 2030 [1] - Two of Elektrofi's partners are projected to start clinical development of Hypercon™ formulated products by the end of 2026 or earlier [1] Group 3: Business Model and IP - The licensing model is highly scalable with a long duration of intellectual property extending into the 2040s [1] - There is potential for individual product intellectual property extension through proprietary reformulation [1]

Group 1: Rubrik - Rubrik achieved a sales growth of 55% in the last quarter and is currently trading at 79 times free cash flow (FCF) [1] - The company is recognized as the No. 1 player in its niche, holding a "leader" designation from Gartner and has an impressive +80 Net Promoter Score, ranking it among the top 1% of enterprise software companies [1] Group 2: Rocket Lab - Rocket Lab's sales grew by 48% in the last quarter, and its next-generation Neutron rocket is expected to launch in the first quarter of 2026 [4] - The company holds a market cap of approximately $25 billion and is positioned as the No. 2 player in a space industry projected to exceed $1 trillion by 2035 [2] Group 3: Dutch Bros - Dutch Bros reported a 25% sales growth in the last quarter, but its stock has dropped by 33% from its all-time high due to decelerating revenue growth [7] - The company aims to expand to 2,029 total shops by 2029, doubling its current total, and is now funding store construction through its own cash flow [8] Group 4: Halozyme Therapeutics - Halozyme Therapeutics holds a near monopoly on subcutaneous drug deliveries, significantly reducing the time required for drug administration [9] - The company has increased sales by 38% annually over the last decade and is trading at 15 times FCF, indicating strong growth potential [10] Group 5: Global-e Online - Global-e Online facilitates international sales for brands, with its technology being utilized by major e-commerce platforms like Shopify [11] - Despite a 28% sales growth in the last quarter and a 40% drop in share price from its peak, the company remains a dominant player in its niche, trading at 42 times FCF [12] Group 6: Wingstop - Wingstop has experienced a decline in same-store sales for two consecutive quarters, leading to a 37% drop in its stock price [13] - Management believes the company can quadruple its store count, indicating potential for future growth despite recent challenges [15] Group 7: The Trade Desk - The Trade Desk's stock has fallen by 69%, but it still managed a 26% sales growth over the past year [16] - The company is trading at 25 times forward earnings, with improving adoption rates for its new AI-powered platform, Kokai [17] Group 8: Kinsale Capital - Kinsale Capital specializes in excess and surplus insurance lines, achieving 45% annualized net income growth over the last decade [18] - The company is currently trading at its lowest-ever P/E ratio of 19, making it an attractive investment opportunity [20] Group 9: SPS Commerce - SPS Commerce has delivered 99 consecutive quarters of sales growth but has guided for only 8% growth in 2026, resulting in a 59% drop in stock price [21] - The company trades at 21 times free cash flow, significantly below its five-year average, suggesting a potential buying opportunity [22] Group 10: MercadoLibre - MercadoLibre has shown a 39% sales increase in its last quarter and has become a core player in the Latin American economy with 77 million active e-commerce buyers [23] - The company is trading at 52 times forward earnings, which is considered reasonable given its strong growth trajectory [24]

Core Insights - Merus N.V. and Halozyme Therapeutics, Inc. have entered into a global non-exclusive collaboration and license agreement to develop and potentially commercialize the subcutaneous administration of petosemtamab, an EGFR x LGR5 bispecific antibody [1][2][3] Company Overview - Halozyme is a biopharmaceutical company known for its ENHANZE drug delivery technology, which facilitates subcutaneous delivery of injected drugs, aiming to improve patient experience and treatment efficiency [4][5] - Merus specializes in developing innovative full-length multispecific antibodies and antibody drug conjugates, referred to as Multiclonics, which have shown promising results in clinical studies [7][8] Collaboration Details - Under the agreement, Merus will make an upfront payment to Halozyme, along with potential future milestone payments based on commercial and sales achievements, if approved [3] - Halozyme is entitled to receive low to mid-single digit royalties on net sales of petosemtamab formulated with the ENHANZE technology during the royalty term [3] Clinical Potential - Petosemtamab has shown encouraging results in clinical studies across various solid tumor cancers and is positioned to potentially become a first and best-in-class treatment for head and neck cancer and other indications [2][3]

Core Insights - Halozyme Therapeutics (HALO) has seen a significant upgrade in its Relative Strength (RS) Rating, moving to 82 from 69, indicating strong market performance and placing it among the top stocks [1][3] - The company reported better-than-expected third-quarter earnings on November 3, contributing to a rise in stock price, which has closed higher in seven of the last nine trading sessions [2] - Halozyme holds a Composite Rating of 98 out of 99, reflecting strong growth potential, with an Earnings Per Share Rating of 98 and a moderate Accumulation/Distribution Rating of B- [3][4] Financial Performance - Halozyme reported quarterly earnings growth of 54%, 41%, 69%, and 35% over the past year, with the latest earnings at $1.72 per share [4] - Revenue increased by 34%, 30%, 35%, and 41% in the same period, reaching $325.7 million in the most recent report [4] Market Position - Halozyme ranks No. 4 among its peers in the Medical-Biomed/Biotech industry group, which consists of 668 stocks, with Genmab (GMAB) being the top-ranked stock [5] - The stock is attempting to complete a consolidation phase with a key entry point at $79.50, which is also its all-time high reached on September 23 [4]