HALOZYME THERAPEUTICS, INC. HALO
Halozyme Therapeutics, Inc. is a biopharmaceutical company advancing disruptive solutions to improve patient experiences and outcomes for emerging and established therapies.
As the innovators of ENHANZE® drug delivery technology ("ENHANZE") with our proprietary enzyme, rHuPH20, our commercially validated solution is used to facilitate the subcutaneous ("SC") delivery of injected drugs and fluids, with the goal of improving the patient experience with rapid SC delivery and reduced treatment burden. We license our technology to biopharmaceutical companies to collaboratively develop products that combine ENHANZE with our partners' proprietary compounds. We are also developing partner products with Hypercon™ drug delivery technology ("Hypercon technology") and developing the Surf Bio drug delivery technology to expand the breadth of our drug delivery technology portfolio. Hypercon technology is an innovative microparticle technology that has been demonstrated in non-clinical testing to enable hyperconcentration of drugs and biologics and reduce the injection volume for the same dosage, potentially expanding opportunities for at-home and health care provider administration. The Surf Bio hyperconcentration technology is being developed to create high antibody and biologic concentrations of up to 500 mg/mL, for delivery in a single auto-injector shot for at-home or in a health care provider's office use. We also develop, manufacture and commercialize, for ourselves or with our partners, drug-device combination products using our advanced auto-injector technologies that are designed to provide commercial or functional advantages such as improved convenience, reliability and tolerability, and enhanced patient comfort and adherence.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.40B | $1.02B | $829.3M | $660.1M | $443.3M | $267.6M | $196.0M | $151.9M | $316.6M | $146.7M |
| Cost of revenue | $228.8M | $159.4M | $192.4M | $139.3M | $81.4M | $43.4M | $45.5M | $10.1M | $31.2M | $33.2M |
| Gross profit | $1.17B | $855.9M | $636.9M | $520.8M | $361.9M | $224.2M | $150.4M | $141.7M | $285.5M | $113.5M |
| R&D | — | $79.0M | $76.4M | $66.6M | $35.7M | $34.2M | $140.8M | $150.3M | $150.6M | $150.8M |
| SG&A | $207.1M | $154.3M | $149.2M | $143.5M | $50.3M | $45.7M | $77.3M | $60.8M | $53.8M | $45.9M |
| Total operating expenses | $927.6M | $463.8M | $491.7M | $392.6M | $167.4M | $123.3M | $263.6M | $221.2M | $235.6M | $229.9M |
| Operating income | $469.0M | $551.5M | $337.6M | $267.5M | $275.9M | $144.3M | -$67.6M | -$69.3M | $81.0M | -$83.2M |
| Interest expense | $18.1M | $18.1M | $18.8M | $16.9M | $7.5M | $20.4M | $11.6M | $18.0M | $22.0M | $20.0M |
| Pre-tax income | $466.9M | $557.1M | $348.3M | $248.9M | $248.5M | $129.3M | -$72.3M | -$79.8M | $61.6M | -$101.9M |
| Income tax | $150.0M | $113.0M | $66.7M | $46.8M | $154.2M | $217.0K | $11.0K | $537.0K | $1.4M | $1.2M |
| Net income | $316.9M | $444.1M | $281.6M | $202.1M | $402.7M | $129.1M | -$72.2M | -$80.3M | $63.0M | -$103.0M |
| EPS, basic | 2.64 | 3.50 | 2.13 | 1.48 | 2.86 | 0.95 | -0.50 | -0.56 | 0.46 | -0.81 |
| EPS, diluted | 2.56 | 3.43 | 2.10 | 1.44 | 2.74 | 0.91 | -0.50 | -0.56 | 0.45 | -0.81 |
| Shares, diluted (wtd. avg.) | $123.9M | $129.4M | $134.2M | $140.6M | $146.8M | $141.5M | $144.3M | $143.6M | $139.1M | $128.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $133.8M | $115.8M | $118.4M | $234.7M | $119.2M | $148.2M | $120.7M | $58.4M | $169.2M | $67.3M |
| Short-term investments | — | — | — | $128.6M | $622.2M | $220.3M | $301.1M | — | — | — |
| Receivables | $426.3M | $288.2M | $233.3M | $231.1M | $91.0M | $97.7M | $59.4M | $30.0M | $22.1M | $15.7M |
| Inventory | $176.5M | $141.9M | $127.6M | $100.1M | $53.9M | $60.7M | $29.4M | $22.6M | $5.1M | $14.6M |
| Total current assets | $825.2M | $1.09B | $746.4M | $739.0M | $926.3M | $554.8M | $543.4M | $427.8M | $510.4M | $256.5M |
| Property, plant and equipment | $44.4M | $40.9M | $38.1M | $35.1M | $6.8M | $7.3M | $10.9M | $7.5M | $3.5M | $4.3M |
| Goodwill | $580.4M | $416.8M | $416.8M | $409.0M | $0 | — | — | — | — | — |
| Other intangibles | $981.5M | $401.8M | $472.9M | $546.7M | $0 | — | — | — | — | — |
| Total assets | $2.53B | $2.06B | $1.73B | $1.84B | $1.10B | $579.9M | $565.9M | $440.2M | $519.9M | $261.5M |
| Accounts payable | $20.9M | $10.2M | $11.8M | $17.7M | $1.5M | $1.9M | $6.4M | $4.1M | $7.9M | $3.6M |
| Short-term debt | $0 | $0 | $0 | $13.3M | $89.4M | $397.2M | $19.5M | $91.5M | $77.2M | $17.4M |
| Total current liabilities | $177.1M | $139.1M | $112.5M | $130.8M | $117.1M | $421.4M | $85.6M | $149.4M | $131.3M | $54.6M |
| Long-term debt | $2.14B | $1.51B | $1.50B | $1.49B | $787.3M | $0 | $383.0M | $34.9M | $125.1M | $199.2M |
| Total liabilities | $2.48B | $1.70B | $1.65B | $1.67B | — | — | — | — | — | — |
| Retained earnings | $54.8M | $359.9M | $90.5M | $143.2M | -$58.9M | -$474.6M | -$603.7M | -$531.4M | -$522.4M | -$585.3M |
| Total equity | $48.8M | $363.8M | $83.8M | $169.8M | $197.0M | $151.0M | $91.8M | $248.9M | $208.4M | -$32.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $651.6M | $479.1M | $388.6M | $240.1M | $299.4M | $55.5M | -$85.4M | -$49.5M | $134.1M | -$50.4M |
| Depreciation and amortisation | $11.4M | $10.3M | $11.1M | $6.5M | $3.0M | $3.3M | $4.1M | $2.4M | $2.2M | $2.4M |
| Stock-based compensation | $51.6M | $43.4M | $36.6M | $24.4M | $20.8M | $17.2M | $34.8M | $35.7M | $30.7M | $25.6M |
| Capital expenditure | $7.0M | $10.7M | $15.3M | $4.8M | $1.5M | $2.5M | $4.0M | $4.7M | $1.4M | $3.1M |
| Investing cash flow | -$545.8M | -$262.7M | -$96.9M | -$487.0M | -$406.3M | $78.4M | -$5.5M | $2.5M | -$163.7M | -$76.8M |
| Financing cash flow | -$85.2M | -$218.9M | -$408.0M | $362.4M | $77.9M | -$106.3M | $153.2M | -$63.8M | $131.7M | $150.6M |
| Buybacks | $342.4M | $250.0M | $402.4M | $200.0M | $350.1M | $150.1M | $200.0M | $0 | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001159036-26-000024.
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