Welcome to our dedicated page for Halozyme Thrp news (Ticker: HALO), a resource for investors and traders seeking the latest updates and insights on Halozyme Thrp stock.
Halozyme Therapeutics, Inc. develops and commercializes drug-delivery technologies for subcutaneous administration of biologics and other injectable therapies. News about HALO commonly covers ENHANZE licensing agreements, Hypercon and Surf Bio hyperconcentration collaborations, partner product regulatory approvals, royalty-based revenue updates, and financial guidance.
The company also reports developments tied to its proprietary products Hylenex and XYOSTED, drug-device combination products using auto-injector technologies, and collaborations with pharmaceutical and biotechnology companies in oncology, inflammatory disease and other therapeutic areas.
Halozyme Therapeutics (NASDAQ: HALO) has announced its executive leadership team's upcoming presentations at two major investor conferences on December 4, 2024. Chief Financial Officer Nicole LaBrosse will present at the Piper Sandler 36th Annual Healthcare Conference in New York at 10:30am PT, while President and CEO Helen Torley will speak at the 7th Annual Evercore ISI HealthCONx Conference in Miami at 9:30am PT.
Both events will feature fireside chats and one-on-one meetings. Live audio webcasts will be available on the company's Investor Relations website, with replays accessible for 90 days after the conferences.
Halozyme Therapeutics (NASDAQ: HALO) has withdrawn its non-binding proposal to acquire Evotec SE (NASDAQ: EVO) for €11.00 per share in cash, which valued Evotec at €2.0 billion. The withdrawal comes after Evotec's unwillingness to engage in discussions about the potential combination. Despite Halozyme's attempts to engage with Evotec's leadership, including informal discussions with a Supervisory Board member, their requests were not accepted. Halozyme maintains its 2024 guidance with revenue of $970-$1,020 million and adjusted EBITDA of $595-$625 million, and projects 10 approved products with ENHANZE® by 2025 and $1 billion in royalty revenue by 2027.
Halozyme (NASDAQ: HALO) has provided an update on its non-binding proposal to acquire Evotec SE for €11.00 per share in cash, valuing the company at €2.0 billion. The proposed combination would create a leading global innovative pharma services company with projected annual revenue of $2 billion in 2025. The acquisition would combine Evotec's drug discovery and biologics manufacturing capabilities with Halozyme's ENHANZE® drug delivery technology. The all-cash transaction would be funded through cash reserves and new debt, with projected net leverage less than 2x within two years post-close. Halozyme expects to have over $800 million in cash by year-end 2024, maintaining a 15-20%+ revenue CAGR through 2023-2028 and achieving 45-50% adjusted EBITDA margin by 2026.
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.