Halozyme Therapeutics Issues 2022 Guidance; Projects Revenue Growth Of 23-26%

(RTTNews) - Halozyme Therapeutics, Inc. (HALO) said it expects fiscal 2022 non-GAAP earnings per share to be $2.05 to $2.20. For 2022, the company expects GAAP earnings per share of $1.90 to $2.05. For 2022, Halozyme expects GAAP net income of $270 million to $295 million and non-GAAP net income of $290 million to $315 million.

For 2022, Halozyme expects total revenue of $530 million to $560 million, representing growth of 23-26% over 2021 expected total revenue. The company expects revenue from royalties to increase approximately 50% to approximately $300 million.

"In 2022, we project at least four new products utilizing ENHANZE will enter phase 1 development, resulting in at least twenty partner programs in our pipeline. We look forward to strong continued total and royalty revenue growth, advancement of at least five ENHANZE partner programs into phase 2 and 3 development, and potential new ENHANZE collaborations and new target nominations," said Helen Torley, CEO.

The company anticipates at least one new global collaboration and license agreement for ENHANZE, which is included in revenue guidance.

Shares of Halozyme Therapeutics were down 7% in pre-market trade on Monday.