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Halozyme Therapeutics, Inc. (HALO) reported second-quarter 2024 adjusted earnings of 91 cents per share, which surpassed the Zacks Consensus Estimate of 78 cents. The company had recorded earnings of 74 cents per share in the year-ago period. Total revenues increased almost 5% year over year to $231.4 million in the second quarter. Revenues surpassed the Zacks Consensus Estimate of $211 million. The top line was driven by higher royalty payments from Roche (RHHBY) for Phesgo and higher sales of proprietary ...

Financial Data and Key Metrics Changes - Total revenue in Q2 2024 grew to $231 million, supporting full-year growth expectations of 13% to 22% [6][35] - Royalty revenue reached $125 million, an increase of 12% year-over-year, marking the 16th consecutive quarter of double-digit year-on-year royalty growth [6][35] - Adjusted EBITDA grew by 19% to $137 million, with non-GAAP diluted earnings per share increasing by 23% to $0.91 [6][37] Business Line Data and Key Metrics Changes - The ENHANZE IP portfolio was strengthened with a new patent granted in Europe, extending coverage to March 6, 2029 [7][8] - The approval of OCREVUS subcutaneous and VYVGART Hytrulo expanded ENHANZE's reach into neurology and autoimmune diseases [9][10] - Sales of DARZALEX in Q2 were $2.9 billion, a 21.3% increase year-over-year, driven by share gains across therapy lines [15][16] Market Data and Key Metrics Changes - OCREVUS subcutaneous has a PDUFA action date of September 13, 2024, with the brand maintaining a 26% global patient share [25][26] - Phesgo sales increased by 60% to almost CHF800 million in the first half of 2024, with Roche expecting global conversion to reach 50% by 2026 [17] - Nivolumab IV sales grew 16% to $2.4 billion in Q2, with expectations for significant conversion to subcutaneous formulations [27] Company Strategy and Development Direction - The company aims to achieve $1 billion in royalty revenue by 2027, driven by strong performance from Wave 2 products and new royalty streams from Wave 3 products [14] - The focus remains on expanding ENHANZE technology into new treatment areas, with ongoing discussions for new partnerships [41][50] - The company is actively seeking M&A opportunities, particularly in drug delivery and licensing models that align with its high-margin business profile [74] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving financial targets, citing a strong pipeline of launches and growing awareness of subcutaneous technology [39] - The company anticipates continued growth in royalty revenue, particularly in the second half of the year, following the reinstatement of full royalty rates [38][70] - Management noted that external factors like election uncertainty have not impacted partnership discussions [54] Other Important Information - The company completed a $250 million ASR, bringing total shareholder returns via share repurchases to $1.3 billion over five years [34] - Cash and marketable securities increased to $529 million as of June 30, 2024, reflecting strong operational cash generation [35] Q&A Session Summary Question: Overview of new partnership activities - Management is confident in securing additional deals, primarily focused on ENHANZE technology, with a mix of established and early-stage products [41] Question: Drivers of higher-than-expected API sales - API sales were higher due to partner demand shifts, with expectations for flat sales in Q3 [42][43] Question: Potential partnerships in the myostatin pathway - The company is interested in targeting obesity and muscle loss areas and is actively reaching out to relevant companies [46] Question: Updates on undisclosed Roche and Chugai products - Details on these products remain confidential, and no near-term disclosure plans have been indicated by partners [49] Question: Impact of PALOMA 3 results on partnership discussions - The PALOMA 3 results have generated interest, particularly in areas like nucleic acids and mRNA, but further data is needed [51] Question: Expectations for new ENHANZE deals - Management remains optimistic about signing new deals this year, with ongoing discussions with around 10 companies [70][71]

Halozyme Therapeutics (HALO) came out with quarterly earnings of $0.91 per share, beating the Zacks Consensus Estimate of $0.78 per share. This compares to earnings of $0.74 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 16.67%. A quarter ago, it was expected that this biopharmaceutical company would post earnings of $0.69 per share when it actually produced earnings of $0.79, delivering a surprise of 14.49%. Over the last f ...

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SAN DIEGO, July 23, 2024 /PRNewswire/ -- Halozyme Therapeutics, Inc. (NASDAQ: HALO) ("Halozyme") today announced it will release its second quarter 2024 financial and operating results on Tuesday, August 6, 2024, following the close of trading. Halozyme will host a conference call on Tuesday, August 6, 2024 at 1:30 p.m. PT/4:30 p.m. ET to discuss the results. The conference call may be accessed live with pre-registration via this link: https://registrations.events/direct/Q4I8719057. A live webcast and repla ...

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Growth investors focus on stocks that are seeing above-average financial growth, as this feature helps these securities garner the market's attention and deliver solid returns. But finding a growth stock that can live up to its true potential can be a tough task. In addition to volatility, these stocks carry above-average risk by their very nature. Also, one could end up losing from a stock whose growth story is actually over or nearing its end. However, the Zacks Growth Style Score (part of the Zacks Style ...

Provides an additional treatment option without the need for IV facilities, expanding accessibility for patients OCREVUS® SC is a 10-minute injection that maintains the same twice-yearly schedule as the approved IV infusion. The SC injection was designed to be administered by healthcare professionals, with the flexibility to be administered either in the clinic or in settings outside the clinic. The EC approval is based on pivotal data from the Phase III OCARINA II trial, which showed non-inferior levels of ...

SAN DIEGO, June 21, 2024 /PRNewswire/ -- Halozyme Therapeutics, Inc. (NASDAQ: HALO) ("Halozyme") today announced that argenx received U.S. Food and Drug Administration (FDA) approval for VYVGART® Hytrulo (efgartigimod alfa and hyaluronidase-qvfc) co-formulated with ENHANZE®, Halozyme's proprietary recombinant human hyaluronidase enzyme, rHuPH20, for the treatment of adults with chronic inflammatory demyelinating polyneuropathy (CIDP). "With this approval, CIDP patients in the U.S. will have access to the fi ...