Why Halozyme Therapeutics (HALO) Shares Are Trading Higher Premarket Today - Halozyme Therapeutics (NASDAQ:HALO)

Halozyme Therapeutics Inc 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.

Overview Rating:

Good

0100

Halozyme Therapeutics Shares Jump On Better Than Expected Annual Guidance