Halozyme reports Q2 non-GAAP EPS 91c, consensus 78c

Reports Q2 revenue $231M, consensus $208.94M. “Our strong financial results reflect another quarter of double-digit royalty revenue, EBITDA and earnings growth. We remain on track to deliver on our financial guidance for the full year that was recently raised following the issuance and validation of a new EU patent covering the ENHANZE rHuPH20 product. In the quarter, we also expanded ENHANZE into neurology treatment with Roche’s EU and UK approval of Ocrevus SC, while also extending our reach into auto-immune diseases with argenx’s FDA approval for VYVGART Hytrulo for the treatment of CIDP,” said Helen Torley, president and CEO. “Looking ahead, we have a robust pipeline with clear line of sight to 10 approved products with ENHANZE in 2025. This includes the potential U.S. approvals for Roche’s Tecentriq SC and Ocrevus SC in September 2024. Building on this momentum, we project U.S. approval for BMS’ nivolumab SC at the end of the year and Johnson & Johnson’s amivantamab SC is on track for potential U.S. and EU launches in 2025. We are now 10 for 10 in terms of success in IV to SC Phase 3 studies, further cementing ENHANZE as the gold standard for rapid SC delivery.”