- Halozyme Therapeutics Inc (NASDAQ: HALO) reported Q2 revenue of $152.4 million, +12% Y/Y, surpassing the consensus of $138.78 million.
- The increase was primarily driven by an increase in royalty revenue primarily attributable to subcutaneous Darzalex (daratumumab) and the addition of product sales due to the Antares Pharma acquisition.
- Revenue for Q2 included $85.3 million in royalties.
- Adjusted EPS of $0.53 was down from $0.66 a year ago and better than the consensus of $0.50.
- The Company reported an operating income of $34.1 million, down from $93 million a year ago.
- "Two of our four Wave 3 launch products with the potential for launch 2023-2025. As planned, we project at least six Phase 2 or Phase 3 study starts in 2022," said Helen Torley, president & CEO.
- FY22 Guidance: After closing the Antares Pharma transaction, Halozyme expects FY22 revenues of $655-$685 million (consensus of $610.87 million), up from previous guidance of $530-$560 million.
- Operating income is expected to be 240-$265 million, a decrease from prior guidance of $350-$380 million, due to one-time transaction costs related to the Antares Pharma acquisition.
- Adjusted EPS is forecasted to be $2.10-$2.25 (consensus of $2.23), higher than the $2.05- $2.20 expected earlier.
- Price Action: HALO shares closed 8.72% higher at $47.11 during after-hours trading on Tuesday.
Read at Benzinga