Halozyme Therapeutics, Inc. provided earnings guidance for the year 2022. For 2022, the company 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% over expected revenue from royalties in 2021, to approximately $300 million.

Product sales related to API and revenue under collaborative agreements are expected to be overall similar to 2021. For 2022, Halozyme expects GAAP operating income of $350 million to $380 million, representing growth of 32-36% over 2021 expected GAAP operating income, resulting in operating margins greater than 65%. This strong growth is anticipated despite higher projected operating expenses excluding cost of product sales resulting from the Company investing in new initiatives to drive revenue growth and extend revenue durability.

The Company notes that 2022 will be the first full fiscal year in which Halozyme will record income tax expense as part of its income statement, reflecting Halozyme's strong profitability. 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 GAAP diluted earnings per share of $1.90 to $2.05.