Halozyme Therapeutics Inc. (NASDAQ:HALO) has announced Q3 financial results in which revenue was $65.3 million and EPS of $0.25 and also provided an updated on corporate operations.
Halozyme raises its full-year guidance
The company’s CEO and President Helen Torley said that they are delighted to report the first quarter of what Halozyme’s projects be like for sustainable royalty revenue growth. The sustainable growth is driven by robust uptake of Janssen’s DARZALEX® SC with the company’s ENHANZE® technology. The CEO confirmed that the company generated more milestone-related revenues in Q3 driven by partner clinical study progress.
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The company is increasing its full-year 2020 financial guidance based on enhanced royalties and anticipated milestone revenues. For the full year, the company expects revenue of $250 to $260 million and earnings per share of between $0.8 and $0.85. Helen stated that the recent product launches and progress in partner programs position the company to deliver sting growth going forward. The solid growth guidance supports Halozyme’s commitment to capital return that so far has resulted in $312.4 million of share repurchases under the 3-year $550 million stock repurchase program announced last year.
Companies making progress in trials with ENHANZE®
Recently the argenx announced that it is advancing efgartigimod SC development with the company’s ENHANZE® technology for pemphigus, an autoimmune group of skin disorders. Argenx plans to initiate the global third phase ADDRESS study evaluating efgartigimod SC in 150 pemphigus patients, and it will result in milestone payment for Halozyme. Also, Argenx initiated a Phase 1 healthy volunteer study of IV ARGX-117 and subcutaneous ARGX-117 using ENHANZE® technology to target component C2. In early October, Argnex expanded its global partnership and license agreement to gain exclusive access to the ENHANZE drug delivery tech for three other targets.
In September Roche presented a poster from its Phase 1b study evaluating atezolizumab for subcutaneous administration using ENHANZE® technology in metastatic and locally advanced non-small-cell lung cancer. The company also announced that Jannsen had submitted supplemental BLA for DARZALEX FASPRO™ approval for light chain (AL) amyloidosis.