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Mar 31, 2020
Halozyme Q1 2020 Earnings Report
Halozyme reported first quarter 2020 results, highlighting FDA approval for DARZALEX FASPROTM and a positive CHMP opinion.
Key Takeaways
Halozyme Therapeutics, Inc. reported a decrease in revenue for the first quarter of 2020, primarily due to a $30 million upfront payment from argenx in the prior year period. The company experienced a net loss of $6.1 million, or $0.04 per share, compared to a net income of $1.8 million, or $0.01 per share, in the first quarter of 2019. Despite these challenges, Halozyme reaffirmed its 2020 financial guidance, expecting revenues between $230 million and $245 million and earnings per share between $0.60 and $0.75.
Received U.S. FDA approval for DARZALEX FASPROTM with a subcutaneous administration time of 3-5 minutes.
Obtained a positive CHMP opinion recommending approval of DARZALEX® SC formulation in multiple current IV DARZALEX® indications.
BLA accepted for subcutaneous fixed-dose combination of Perjeta® and Herceptin® utilizing ENHANZE® with FDA action date of October 18, 2020.
Maintained 2020 financial guidance of $230 to $245 million in revenues and $0.60 to $0.75 earnings per share.
Revenue by Segment
Forward Guidance
The Company's 2020 financial guidance remains unchanged from that first provided on January 14, 2020. For 2020 Halozyme continues to expect Revenues of $230 million to $245 million, representing growth of 17% to 25%; Earnings per share on a GAAP basis of $0.60 to $0.75 with the first quarter of sustainable profitability beginning in Q2 2020.
Positive Outlook
- Revenues of $230 million to $245 million, representing growth of 17% to 25%
- Earnings per share on a GAAP basis of $0.60 to $0.75
- First quarter of sustainable profitability beginning in Q2 2020
- Continued monitoring of the impact of the COVID-19 pandemic on its business
- Updates from partners and suppliers on how their businesses are affected
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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