Halozyme Therapeutics, Inc. is a biopharmaceutical company that researches, develops, and commercializes proprietary enzymes and devices in the United States, Switzerland, Belgium, Japan, and internationally. Its products are based on the patented recombinant human hyaluronidase enzyme (rHuPH20), which enables the delivery of injectable biologics such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids. The company offers Hylenex recombinant, XYOSTED, Herceptin Hylecta, Phesgo, Mabthera SC, Tecentriq SC, Ocrevus SC, HYQVIA, DARZALEX, epinephrine injection, nivolumab and relatlimab, teriparatide injections, ARGX-113, and ARGX-117. It has collaborations and licensing agreements with F. Hoffmann-La Roche, Ltd. and Hoffmann-La Roche, Inc.; Takeda Pharmaceuticals International AG and Baxalta US Inc.; Pfizer Inc.; Janssen Biotech, Inc.; AbbVie, Inc.; Eli Lilly and Company; Bristol Myers Squibb Company; argenx BVBA; ViiV Healthcare; Chugai Pharmaceutical Co., Ltd.; Acumen Pharmaceuticals, Inc.; Merus N.V.; and Skye Bioscience, Inc. Founded in 1998, the company is headquartered in San Diego, California.
Halozyme Therapeutics announced the pricing of $1.3 billion aggregate principal amount of 1.50% convertible senior notes due 2033, upsized from the previously announced $1.05 billion offering, with a 13-day option granted to initial purchasers for up to an additional $200 million. The notes carry an initial conversion rate of 7.1509 shares per $1,000 principal, equivalent to a conversion price of approximately $139.84 per share, a premium of about 27.5% over the $109.68 closing price on September 17, 2026, and mature on October 1, 2033. Halozyme expects net proceeds of approximately $1.275 billion, or about $1.471 billion if the purchasers' option is exercised in full, and will use roughly $162.5 million to fund capped call transactions with a cap price of approximately $208.39 per share, a 90.0% premium. The company also agreed to repurchase approximately $151.7 million principal of its 0.25% convertible notes due 2027 for about $217.0 million and $220.0 million principal of its 1.00% convertible notes due 2028 for about $435.5 million, including accrued interest. The offering is expected to close on September 22, 2026, with the remainder of proceeds earmarked for general corporate purposes, including working capital, capital expenditures, and potential acquisitions.
Halozyme Stock Rises 36% in a Month on Strong Results
Halozyme Therapeutics shares have risen 36.4% in the past month, driven by investor confidence in its ENHANZE drug-delivery technology and a raised full-year 2026 outlook. The company reported robust second-quarter 2026 results, with royalty revenues up 46.7% year over year to $373.8 million in the first half and total product sales up 63% to $260.1 million. Halozyme now expects 2026 revenues of $1.84-$1.91 billion, up from prior guidance of $1.71-$1.81 billion, and royalty revenues of $1.22-$1.25 billion versus $1.13-$1.17 billion previously. The company has collaboration agreements with large pharma companies including Johnson & Johnson, argenx, and Roche, which use ENHANZE for subcutaneous formulations of drugs such as Darzalex, Vyvgart Hytrulo, and Phesgo. Year to date, Halozyme shares have rallied 57.7% compared with the industry's rise of 13.8%.
Halozyme Therapeutics Q2 Earnings Call: Top 5 Analyst Questions
Halozyme Therapeutics reported second-quarter revenue of $481 million, beating analyst estimates by 19% and growing 47.7% year over year, driven by record royalty growth from its ENHANZE platform. Adjusted EPS of $2.28 beat estimates by 25.5%, and the company raised full-year revenue guidance to $1.87 billion at the midpoint, a 6.4% increase. During the earnings call, analysts focused on royalty revenue acceleration, target exclusivity, Hypercon pipeline launches, deal cadence, and Merck litigation. CEO Helen Torley highlighted that five to seven product launches by the mid-2030s underpin a $1 billion royalty target, with both new and existing partner deals contributing.
Halozyme and Incyte Announce Global Collaboration for Subcutaneous Oncology Drug
Halozyme Therapeutics and Incyte Corporation announced a global collaboration and licensing deal to develop a subcutaneous formulation of Incyte's INCA033989, a first-in-class monoclonal antibody targeting mutant calreticulin-expressing myeloproliferative neoplasms. Under the agreement, Halozyme will provide its proprietary ENHANZE drug delivery technology, while Incyte will hold an option to nominate two additional targets. Halozyme will receive an upfront payment, milestone payments, and royalties on commercial sales. Both companies reported record second-quarter 2026 results, with Halozyme's revenue up 48% to $481 million and Incyte's total revenue up 38% to $1.67 billion. Halozyme raised its full-year revenue guidance to $1.835–$1.910 billion, and Incyte raised its net sales guidance to $5.13–$5.26 billion.
Biotech Stocks Hit 52-Week Highs on Earnings and Pipeline Updates
Several biotech stocks reached 52-week highs on August 7, 2026, driven by strong quarterly results and clinical progress. Halozyme Therapeutics surged 20% to $103.30 after reporting second-quarter revenue of $481 million, a 48% year-over-year increase, and estimating full-year 2026 revenues of $1.83 billion to $1.91 billion, representing 31% to 37% growth. Fennec Pharmaceuticals rose over 6% to $11.66 following a 71% jump in first-quarter net sales to $15.1 million from its PEDMARK therapy, with second-quarter results due August 11. Avalyn Pharma climbed over 3% to $34.15 after its April IPO raised about $316 million, while advancing inhaled therapies AP01 and AP02 in Phase 2 trials. Amylyx Pharmaceuticals hit $24.60 as it progresses the Phase 3 LUCIDITY trial for Avexitide and completed enrollment in a Phase 1 ALS study. Chemed Corporation reached $552.72 after revising its full-year revenue growth estimate to 8.25% to 9.25%, with a Medicare cap billing limitation of $7,000, and reporting an 8.8% second-quarter revenue increase to $673 million.
Halozyme Therapeutics raises 2026 revenue guidance after second-quarter earnings beat
Halozyme Therapeutics reported second-quarter 2026 revenue of US$481 million, up from US$325.72 million a year earlier, and raised its full-year revenue guidance to a range of US$1.835 billion to US$1.910 billion, up from a prior range of US$1.710 billion to US$1.810 billion. Net income for the quarter was US$229.91 million, with diluted earnings per share of US$1.90, compared with US$1.33 a year ago. For the first half of 2026, revenue reached US$857.71 million and diluted earnings per share were US$3.11. The company also completed two share repurchase programs: from May 1, 2026 to June 30, 2026, it bought back 2,525,425 shares, or 2.13% of its shares, for US$175.01 million, finishing the repurchase announced on May 11, 2026; and from April 1, 2026 to June 30, 2026, it repurchased a further 2,274,575 shares, or 1.92% of its shares, for US$157.63 million, completing the 13,452,356-share, US$750 million buyback program announced on February 20, 2024. Halozyme stock surged 20.24% in one day following the results.
Biotech Stocks IKT, HALO, JAZZ, CORT, LQDA Hit 52-Week Highs
Several biotech stocks reached 52-week highs on July 24, 2026, driven by upcoming quarterly reports and regulatory milestones. Inhibikase Therapeutics hit $2.53 after its lead candidate IKT-001 received FDA Orphan Drug designation for pulmonary arterial hypertension, with a global Phase 3 trial underway. Jazz Pharmaceuticals reached $256.75, supported by 19% first-quarter revenue growth to $1.1 billion and progress with Zanidatamab in breast cancer studies. Halozyme Therapeutics climbed to $82.99 following a 42% year-over-year revenue increase to $376 million in the first quarter and full-year guidance of $1.71 billion to $1.81 billion. Corcept Therapeutics touched $97.63, with first-quarter revenue rising to $164 million from $157 million a year earlier, ahead of its July 29 earnings report. Liquidia Corporation hit $91.10, buoyed by $130 million in first-quarter YUTREPIA sales and a net income of $52 million.
Halozyme and Incyte Partner on Subcutaneous Cancer Therapy
Halozyme Therapeutics has entered a global collaboration and license agreement with Incyte to develop additional subcutaneous formulations of Incyte's INCA033989, a first-in-class mutant calreticulin-targeted monoclonal antibody for a cancer indication. The partnership will evaluate subcutaneous dosing using Halozyme's proprietary ENHANZE drug delivery technology in patients with mutCALR-expressing myeloproliferative neoplasms. Incyte gains rights to develop and commercialize the ENHANZE technology with its mutCALR program and holds an option to nominate up to two additional targets. Halozyme will receive an undisclosed upfront payment, milestone payments, and royalties on future net sales. Halozyme's royalty revenues reached $240.7 million in the first quarter of 2026, up 43% year over year, driven by demand for partnered products including subcutaneous Darzalex and Phesgo.
Halozyme Therapeutics Keeps Winning in Cancer Treatment
Halozyme Therapeutics is one of the 8 Most Undervalued Growth Stocks to Buy for the Next 10 Years. On June 16, H.C. Wainwright analyst Mitchell Kapoor reiterated a Buy rating on Halozyme Therapeutics and assigned a target price of $95. The stock has risen 46% in the last 12 months. On June 13, Johnson & Johnson announced that Halozyme-partnered Darzalex Faspro, when used with its cancer drug Talvey, significantly improved survival outcomes in a late-stage trial for patients with multiple myeloma, reducing the risk of death by up to 53% compared with standard treatment. The combination also reduced the risk of cancer worsening or death by up to 72%, and at 24 months, about 89% of patients were alive compared with 79% receiving standard care. The positive trial results could benefit Halozyme by supporting continued adoption of Darzalex Faspro, which uses the company's ENHANZE technology.
Halozyme Therapeutics Shows Strong Revenue Growth but Shrinking Margins
Halozyme Therapeutics has delivered impressive revenue growth and free cash flow margins, but its adjusted operating margin has contracted significantly over the past five years. The company's annualized revenue growth over the last five years was 35.4%, and its free cash flow margin averaged 46.2% over the same period. However, its adjusted operating margin decreased by 35.1 percentage points over the last five years, with the trailing 12-month figure at 33.9%. The stock currently trades at $78.57 per share, or 9.1 times forward earnings.
Q1 Therapeutics Earnings: AbbVie Revenue Tops Estimates, Moderna Leads Growth
AbbVie reported first-quarter revenues of $15 billion, up 12.4% year on year and exceeding analysts' expectations by 1.7%. Among the 11 therapeutics stocks tracked, Moderna delivered the fastest revenue growth with $389 million, a 260% increase that beat estimates by 55.8%. United Therapeutics posted the weakest performance, with revenues of $781.5 million, down 1.6% and missing expectations by 1.9%. Vertex Pharmaceuticals reported $2.99 billion in revenue, up 8.2% and beating estimates by 1.2%, while Halozyme Therapeutics recorded $376.7 million, up 42.2% and exceeding expectations by 6.1%. Overall, the group's revenues surpassed consensus estimates by 14.5%, and share prices have risen an average of 18.9% since the latest earnings results.
Halozyme Appoints David Ramsay as President Drug Delivery
Halozyme Therapeutics has appointed David Ramsay as President Drug Delivery, effective June 30, 2026. In this newly created role, Mr. Ramsay will have an enterprise-wide, cross-technology mandate, responsible for driving the growth of Halozyme's drug delivery technologies by establishing clear strategic priorities and assuring best-in-class business development and alliance management. He will report to Helen Torley, President and Chief Executive Officer. Mr. Ramsay brings more than 30 years of strategic financial leadership across the biotechnology and life sciences sectors, and most recently served as Halozyme's Interim Chief Financial Officer from March 23 to June 8, 2026.
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