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SAN DIEGO - Halozyme Therapeutics , Inc. (NASDAQ:HALO) saw its shares jump 6.2% after the biotechnology company reported fourth-quarter earnings and revenue that surpassed analyst expectations, while also providing an optimistic forecast for 2025.
The company posted adjusted earnings per share of $1.26 for Q4, beating the analyst estimate of $1.15. Revenue for the quarter came in at $298 million, topping the consensus forecast of $294.15 million. Compared to the same period last year, total revenue increased 30% while royalty revenue surged 40% to $170.4 million.
Halozyme’s strong performance was primarily driven by continued growth of key products utilizing its ENHANZE drug delivery technology, including DARZALEX SC, VYVGART Hytrulo, and Phesgo.
For the full year 2024, Halozyme reported total revenue of $1.015 billion, marking the first time the company has exceeded $1 billion in annual revenue. This represents a 22% increase from 2023.
Looking ahead, Halozyme reiterated its guidance for fiscal year 2025, projecting total revenue between $1.15 billion and $1.225 billion, representing year-over-year growth of 13% to 21%. The company expects adjusted earnings per share in the range of $4.95 to $5.35, above the current analyst consensus of $5.05.
"Our 2024 royalty revenue exceeded guidance driven by continued strong growth of DARZALEX SC and Phesgo, with modest initial contribution from VYVGART Hytrulo," said Dr. Helen Torley, president and CEO of Halozyme. "These three products will continue to drive our 2025 royalty revenues, with VYVGART Hytrulo becoming the largest dollar growth contributor in 2025."
The company also highlighted recent regulatory approvals for several products using its ENHANZE technology, positioning Halozyme for continued growth beyond 2025.
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