Halozyme Therapeutics, Inc. Reports Financial Results for the Year 2017; Provides Financial Guidance for 2018
January 13, 2018 at 02:35 am IST
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Halozyme Therapeutics, Inc. reported financial results for the year 2017. The company reported net revenues more than double from the original guidance to $310 million to $320 million, and this was driven by the 3 new ENHANZE agreements that it has signed resulted in an additional $172 million of revenue during the year. The company announced that the operating cash flow was positive in 2017.
The company provided financial guidance for 2018. The company expects, net revenue of $115 million to $125 million. This is the same as it guided at the beginning of 2017, and does not include the potential for new ENHANZE deals. It projects continued strong royalty growth of 25% to 30%, and this is driven by the RITUXAN HYCELA launch in the United States. It is projecting the API product orders sales will decline, as it had signaled during 2017, as the partners are making manufacturing transitions. Operating cash burn to be $75 million to $85 million. And expects, exiting the year in 2018 with a cash position of $305 million to $315 million.
Halozyme Therapeutics, Inc. is a biopharmaceutical company advancing disruptive solutions to improve patient experiences and outcomes for emerging and established therapies. The Companyâs ENHANZE drug delivery technology with the proprietary enzyme rHuPH20, its commercially validated solution is used to facilitate the subcutaneous (SC) delivery of injected drugs and fluids, with a focus on reducing treatment burden for patients. It also develops, manufactures, and commercializes, for itself or with partners, drug-device combination products using its advanced auto-injector technologies. The Company has two commercial proprietary products, Hylenex and XYOSTED, partnered commercial products and ongoing product development programs with several pharmaceutical companies. It markets and sells Hylenex recombinant, which is a formulation of rHuPH20. It markets and sells its proprietary product XYOSTED for SC administration of testosterone replacement therapy (TRT) in adult males.
HALOZYME THERAPEUTICS, INC. 
