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- Halozyme Therapeutics Inc HALO reported Q2 revenue of $136.5 million compared to $55.2 million a year ago, beating the consensus of $103.16 million.
- The increase was primarily driven by $60.0 million in milestone revenues, including $40 million from ViiV and $20 million from Janssen earned upon achieving a commercial milestone related to subcutaneous Darzalex, an increase in royalty revenue from subcutaneous Darzalex, and an increase in product sales.
- Operating expenses as a percentage of revenue decreased from 46.5% to 31.8%.
- The operating margin expanded from 53.5% to 68.2%.
- Cash, cash equivalents, and marketable securities were $755.3 million.
- FY21 Guidance: Halozyme expects revenues of $425 million - $445 million (consensus $404.56 million), up 59% - 66% Y/Y, and up from prior guidance of $375 million - $395 million.
- Expects adjusted EPS of $1.85 - $2.00 (consensus $1.41), up from $1.55 - $1.70 guided previously.
- Forecasts operating income of $260 million - $280 million, up 80% - 94% Y/Y.
- Price Action: HALO shares traded higher by 11.28% in premarket at $45.00 on the last check Tuesday.
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