Halozyme announces CTO retirement, effective immediately

SAN DIEGO, CA – Halozyme Therapeutics , Inc. (NASDAQ:HALO), a biopharmaceutical company with over $1 billion in annual revenue and impressive 22.4% year-over-year growth, announced today that Michael J. LaBarre, its Senior Vice President and Chief Technical Officer, has retired effective as of Monday. Mr. LaBarre’s decision to retire marks the end of his tenure with the company where he contributed significantly to the development of Halozyme’s ENHANZE® drug delivery technology.

The company expressed its gratitude to Mr. LaBarre for his years of dedicated service and the pivotal role he played in advancing their proprietary technology. Under his technical leadership, Halozyme has achieved a perfect Piotroski Score of 9, according to InvestingPro data, indicating exceptional financial strength. Halozyme’s ENHANZE® platform is a cornerstone of their business, designed to facilitate the subcutaneous delivery of injectable drugs, potentially improving the overall treatment experience for patients.

As of now, Halozyme has not publicly announced a successor for the CTO position. The departure of a senior executive such as Mr. LaBarre is a notable event for the company, as it may signal a period of transition within its leadership team.

Halozyme Therapeutics, headquartered at 12390 El Camino Real in San Diego, operates within the biotechnology industry, focusing on developing and commercializing novel cancer treatments as well as their drug delivery technology. The company is incorporated in Delaware with a fiscal year ending on December 31.

Investors and industry watchers will be keeping a close eye on Halozyme’s next moves, including any announcements related to the replacement of the Chief Technical Officer or potential shifts in the company’s strategic direction following Mr. LaBarre’s retirement.

This news is based on a recent SEC filing and reflects the company’s current state as of the latest report. Halozyme Therapeutics, Inc. is listed on The Nasdaq Stock Market LLC under the ticker symbol HALO.

In other recent news, Halozyme Therapeutics reported fourth-quarter earnings and revenue that exceeded analyst expectations. The company posted adjusted earnings per share of $1.26, surpassing the analyst estimate of $1.15, while revenue reached $298 million, topping the consensus forecast of $294.15 million. For the full year 2024, Halozyme achieved total revenue of $1.015 billion, marking a 22% increase from the previous year and exceeding $1 billion for the first time. Looking forward, Halozyme projects total revenue for 2025 between $1.15 billion and $1.225 billion, with adjusted earnings per share expected to range from $4.95 to $5.35.

In light of these developments, H.C. Wainwright raised its price target for Halozyme to $72, maintaining a Buy rating, while JMP Securities increased its target to $78, reiterating a Market Outperform rating. The financial outlook is bolstered by strong royalty revenues from products like DARZALEX Faspro, Phesgo, and VYVGART Hytrulo. Meanwhile, a patent dispute with Merck (NSE:PROR) over Halozyme’s hyaluronidase enzyme platform remains a significant issue, as Merck seeks to introduce a competing product. Analysts from both H.C. Wainwright and JMP Securities view the patent challenge as a pivotal moment for Halozyme, with potential implications for future revenue and market share.

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