Halozyme Therapeutics Inc (HALO) News & EventsHALOHalozyme Therapeutics Inc

Hypercon Reports Q1 Revenue of $376.7M, Announces $1B Share Repurchase Program

Reports Q1 revenue $376.7M, consensus $359.05M. "I am pleased to announce our new $1B share repurchase program and that we project to repurchase at least $400M in 2026, which is a reflection of our strong cash generation and confidence in the long-term value and durability of our business. We started 2026 with exceptional momentum, highlighted by three new recent collaboration and licensing agreements with Vertex, Oruka and GSK, demonstrating the strong interest in Hypercon and ENHANZE and showcasing the real potential to exceed our goal of three new SC delivery platform deals this year...Our new multi-target agreement with GSK represents a significant opportunity for ENHANZE with multiple promising oncology targets, including its first potential application with antibody drug conjugates. This momentum creates durable new royalty opportunity beginning in the 2030s and extending to at least the mid-2040s," said CEO Helen Torley. "The five signed Hypercon agreements, which include the opportunity for 17 targets to be developed, with first approvals projected in the 2030/2031 time period represents a third exciting wave of new royalty revenue opportunity. This continued performance and progress resulted in strong first quarter financial results and we are pleased to reaffirm our 2026 outlook, including expectations for ENHANZE royalty revenue to exceed $1B for the full year".

Halozyme Enters Global Collaboration Agreement with GSK

Halozyme Therapeutics (HALO) announced the company entered into a global collaboration and license agreement with GSK (GSK). Under the collaboration, GSK has licensed Halozyme's ENHANZE drug delivery technology for the development and potential commercialization of subcutaneous administration of multiple oncology targets, including antibody drug conjugates, as well as an option for additional future drug targets. "We are excited to work with GSK to advance development of several oncology therapeutics. This agreement also marks our first collaboration on subcutaneous delivery of ADCs, where we believe subcutaneous delivery with ENHANZE may meaningfully improve the benefit-risk profile," said Dr. Helen Torley, President and Chief Executive Officer of Halozyme. "This collaboration reflects the continued recognition of ENHANZE as the gold standard for rapid, large-volume subcutaneous delivery, and underscores the value it provides to a growing number of leading pharmaceutical and biotechnology companies. Extending use of ENHANZE with ADCs represents a meaningful expansion of our potential addressable market, positions us at the forefront of a rapidly growing therapeutic class and reinforces the durability of our high-margin royalty revenue business." "Novel approaches are required to reduce treatment burden for patients with cancer and help access easier forms of treatment," said Eric Richards, SVP Head of Medicine Development Leaders Oncology, GSK. "We see significant potential for subcutaneous formulations of several promising cancer targets, including ADCs, with ENHANZE and look forward to progressing the first clinical program." GSK will make an upfront payment to Halozyme and potential future milestone payments. Halozyme will also be entitled to royalties on net sales of products that incorporate ENHANZE.