>>> Halozyme Therapeutics, Inc. (NASDAQ: HALO) today announced its 2023 financial guidance and commented on its outlook for the upcoming year.
>>> “In 2022, we project we achieved record revenue of greater than $655 million and we completed the acquisition of Antares Pharma, opening up an expanded set of opportunities for our subcutaneous drug delivery business," said Dr. Helen Torley, president and chief executive officer. "In 2023, we project record revenue of $815 to $845M and greater than 30% growth in EBITDA to $415 to $440 million. <<<< >>>> As our ENHANZE pipeline advances, we are excited about the future royalty revenue opportunities represented in 2023 by the potential for two new commercial launches, SC efgartigimod and SC atezolizumab."
>>>> Anticipated 2023 Key Events:
Projected growth of >20% in the Company's high-margin, recurring revenue stream from royalties to approximately $445 to $455 million driven by continued strength in Wave 2 products, including DARZALEX® SC (daratumumab) and Phesgo® (pertuzumab, trastuzumab and hyaluronidase) utilizing ENHANZE® technology, as well as full year auto-injector royalty contribution.
Two ENHANZE® subcutaneous (SC) approvals and commercial launches by collaboration partners, including SC efgartigimod and SC atezolizumab.
Four Phase 3 study data readouts from products utilizing ENHANZE® by the Company's collaboration partners
SC efgartigimod in CIDP, ITP and Pemphigus (autoimmune disorders of the nervous system, blood and skin)
SC ocrelizumab for certain patients with multiple sclerosis
>>>> At least 2 new products utilizing ENHANZE® entering Phase 1 development by the Company's collaboration partners.
At least one new collaboration and licensing agreement for ENHANZE®, for a partner to test our developmental large volume auto-injector plus ENHANZE®,
and for our small volume auto-injector.
Initiation of a clinical study to continue to evaluate the feasibility testing of our large volume auto-injector.
>>>> Up to $150 million in share repurchases, dependent on market conditions and other factors, as part of the $750 million three-year share repurchase plan authorized by Halozyme's board of directors in December 2021 demonstrating the Company's continued commitment to a balanced capital allocation strategy.
2023 Financial Guidance:
Revenue: >>>> Halozyme expects total revenue of $815 million to $845 million, representing growth of >20% over 2022 expected total revenue. The Company expects revenue from royalties to increase >20% over expected revenue from royalties in 2022, to a range of $445 million to $455 million.
EBITDA: Halozyme expects EBITDA of $415 million to $440 million, representing growth of >30% over 2022 expected EBITDA and excludes the impact of amortization costs in 2023 related to the Antares Pharma acquisition. <<<<
SEEMS PRETTY DARN GOOD REVENUES & PROJECTIONS GOING FORWARD <<<<
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