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Halozyme Therapeutics Reports Third Quarter 2011 Financial Results

® in combination with Halozyme's ENHANZE™ Technology

Upcoming Anticipated Milestones

  • Reintroduce Hylenex® recombinant for the dispersion and absorption of other injected drugs and fluids in hospital and Ambulatory Surgery Centers - 4Q 2011
  • Discuss top line results from a Phase 1/2 study with HTI-501 in women with moderate to severe cellulite - 1H 2012
  • Present HannaH Phase 3 clinical trial data - 2012
  • Regulatory Submission Herceptin SC - 2012
  • Regulatory Submission Mabthera SC - 2012
  • PDUFA for Subcutaneous IgG Baxter Biosciences BLA - 2Q 2012
  • Complete Phase 2 study with Viropharma for SC Cinryze - 1H 2012

  • Third Quarter 2011 and Year-to-Date 2011 Financial ResultsThe net income for the third quarter of 2011 was $5.2 million, or $0.05 per share, compared with a net loss for the third quarter of 2010 of $(12.4) million, or $(0.13) per share. The net loss for the nine months ended September 30, 2011 was $(1.4) million, or $(0.01) per share, compared to a net loss of $(36.3) million, or $(0.39) per share, for comparable period in 2010.

  • Revenues for the third quarter of 2011 were $22.9 million, compared to $3.4 million for the third quarter of 2010. In July 2011, the Company and Baxter entered into agreements outlining certain rights, data and assets to be transferred to the Company in connection with the termination of the partnership with Baxter for the marketing rights of Hylenex recombinant. As a result, the Company recognized as revenue a one-time amount of $17.9 million from deferred revenues. Revenues in the third quarter of 2011 also consisted of a $3 million milestone payment from ViroPharma, the amortization of upfront payments received from Baxter and Roche of $0.6 million and research and development reimbursements from Baxter and Roche of $1.3 million.
  • Research and development expenses for the third quarter of 2011 were $13.5

  • SOURCE Halozyme Therapeutics, Inc.
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