Halozyme Thrp Stock Price, News & Analysis

Halozyme (NASDAQ: HALO) has submitted a non-binding proposal to acquire Evotec SE (NASDAQ: EVO) for €11.00 per share in cash, valuing the company at €2.0 billion. The offer represents a 109% premium to Evotec's share price on October 15, 2024, and a 77% premium to its three-month volume weighted average price.

The proposed combination aims to create a global innovative services company, integrating Evotec's drug discovery platform and Just – Evotec Biologics manufacturing capabilities with Halozyme's ENHANZE® technology. The merger would diversify and extend Halozyme's revenue and EBITDA growth well into the next decade, with no financing contingency required for the transaction.

Halozyme (HALO) reported strong Q3 2024 financial results with total revenue increasing 34% YOY to $290.1 million, driven by 36% growth in royalty revenue to $155.1 million. Net income rose 67% to $137 million, while adjusted EBITDA grew 60% to $184 million. The company raised its 2024 guidance, now expecting total revenue of $970-$1,020 million (17-23% YOY growth) and adjusted EBITDA of $595-$625 million (40-47% YOY growth). Key highlights include FDA approvals for Roche's TECENTRIQ HYBREZA and OCREVUS ZUNOVO with ENHANZE technology, plus expanded partnerships with argenx and ViiV Healthcare.

Halozyme Therapeutics (NASDAQ: HALO) announced that the European Patent Office (EPO) revoked one of Janssen's co-formulation patents for DARZALEX® SC. The company affirms this decision will not impact its 2024 royalty revenue guidance of $520-555 million or its projection to exceed $1 billion in royalty revenues by 2027. The company maintains that U.S. and European royalty revenues from DARZALEX FASPRO® and SC will remain unaffected through 2032. The decision does not affect Halozyme's composition of matter patents for ENHANZE® or other licensees' ability to obtain co-formulation patents.

Halozyme Therapeutics (NASDAQ: HALO) has announced it will release its third quarter 2024 financial and operating results on Thursday, October 31, 2024, after market close. The company will host a conference call the same day at 1:30 p.m. PT/4:30 p.m. ET to discuss the results. Investors can access the call through pre-registration and view a live webcast through the company's investor relations website.

Halozyme Therapeutics (NASDAQ: HALO) announced an expansion of its global collaboration with argenx for the ENHANZE® drug delivery technology. argenx has nominated four new targets, bringing the total to six exclusively licensed targets, including the neonatal Fc receptor (FcRn) for VYVGART® Hytrulo. Halozyme will receive a total upfront payment of $30 million for exclusive rights to these targets.

The agreement includes potential future milestone payments of up to $85 million per nominated target and a tiered mid-single digit royalty rate based on annual net sales. This expansion strengthens Halozyme's relationship with argenx, a leader in immunology, and supports argenx's goal of expanding their immunology pipeline with subcutaneous delivery of therapeutics.

Halozyme Therapeutics (NASDAQ: HALO) announced FDA approval of Roche's OCREVUS ZUNOVO™, a subcutaneous formulation incorporating Halozyme's ENHANZE® technology, for treating relapsing and primary progressive multiple sclerosis. This new formulation offers a twice-yearly, 10-minute injection, expanding treatment options to centers without IV infrastructure. The approval is based on the Phase III OCARINA II trial, which demonstrated non-inferior blood levels and a comparable safety and efficacy profile to the IV formulation. The subcutaneous version showed 97% suppression of relapse activity and MRI lesions through 48 weeks, with over 92% of patients reporting satisfaction with the administration method.

Halozyme Therapeutics (NASDAQ: HALO) announced FDA approval for Roche's Tecentriq Hybreza™, the first subcutaneous anti-PD-(L)1 cancer immunotherapy. This treatment, incorporating Halozyme's ENHANZE® technology, can be administered in about 7 minutes, compared to 30-60 minutes for standard IV infusion. Tecentriq Hybreza™ is approved for all adult indications of IV Tecentriq®, including certain types of lung, liver, skin, and soft tissue cancers. The approval is based on Roche's Phase IB/III IMscin001 study, which demonstrated comparable blood levels of Tecentriq® when given subcutaneously, with a consistent safety and efficacy profile to the IV formulation.

Halozyme Therapeutics (NASDAQ: HALO) has announced its participation in three upcoming investor conferences in September 2024. The company's leadership, including Dr. Helen Torley, President and CEO, and Tram Bui, VP of Investor Relations, will be presenting and hosting investor meetings at these events.

The conferences include the 2024 Wells Fargo Healthcare Conference in Boston on September 4, the Morgan Stanley 22nd Annual Global Healthcare Conference in New York on September 5, and the H.C. Wainwright 26th Annual Global Investment Conference in New York on September 10. Presentations at Wells Fargo and H.C. Wainwright will be in a fireside chat format, while the Morgan Stanley event will feature 1x1 meetings only.

Live audio webcasts of the presentations will be available on Halozyme's website, with replays accessible for 90 days after each conference.

Halozyme Therapeutics reported strong Q2 2024 financial results, with total revenue of $231 million, a 5% year-over-year increase. Royalty revenue grew 12% to $125 million. The company maintained its recently increased 2024 financial guidance, projecting total revenue of $935-$1,015 million (13-22% YOY growth) and adjusted EBITDA of $555-$615 million (30-44% YOY growth).

Key highlights include partner approvals for Ocrevus SC in Europe and the UK, and VYVGART Hytrulo for CIDP in the U.S. Halozyme expects 10 approved products with ENHANZE by 2025, including potential U.S. approvals for Roche's Tecentriq SC and Ocrevus SC in September 2024.