Halozyme Therapeutics, Inc. reported significant financial growth in its latest quarterly results, with total revenues reaching $264.9 million for the three months ended March 31, 2025, compared to $195.9 million for the same period in 2024, marking an increase of 35%. The company's net income also saw a substantial rise, climbing to $118.1 million, or $0.93 per diluted share, up from $76.8 million, or $0.60 per diluted share, in the prior year. This growth was primarily driven by increased royalties from its ENHANZE technology and higher product sales.
The company's royalty revenue surged by 39% to $168.2 million, largely due to strong sales of partner products such as VYVGART by argenx and DARZALEX SC by Janssen. Product sales also increased significantly, with net sales rising to $78.0 million, a 33% increase from the previous year. This growth was attributed to a 157% increase in bulk rHuPH20 sales, reflecting heightened demand from partners, alongside a 14% increase in device partnered product sales.
In terms of operational developments, Halozyme has expanded its collaborations with major pharmaceutical companies, including Roche, Takeda, and Janssen, which have led to several product approvals and market expansions. Notably, the company announced that Janssen received European Commission approval for the SC formulation of RYBREVANT, marking the tenth partner product utilizing ENHANZE technology to be commercialized. Additionally, Halozyme has initiated a $750 million share repurchase program, with $250 million already executed through an Accelerated Share Repurchase agreement.
As of March 31, 2025, Halozyme's total assets stood at $2.2 billion, with cash and cash equivalents amounting to $176.3 million, up from $115.9 million at the end of 2024. The company reported total liabilities of $1.7 billion, including long-term debt of $1.5 billion. The increase in cash reserves is attributed to strong operational cash flow, which amounted to $154.2 million for the quarter, up from $129.4 million in the previous year.
Looking ahead, Halozyme anticipates continued revenue growth driven by the expanding adoption of its ENHANZE technology and the successful commercialization of partner products. The company remains focused on enhancing its product pipeline and exploring new collaborations to further strengthen its market position.
About HALOZYME THERAPEUTICS, INC.
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