SAN DIEGO, Aug. 7, 2013 /PRNewswire/ -- Halozyme Therapeutics, Inc. (NASDAQ: HALO) today reported financial results for the quarter and six months ended June 30, 2013. Financial highlights for the second quarter include revenues of $14.5 million and a net loss of $22.9 million or $0.20 per share. This compares to revenues of $7.8 million and a net loss of $14.0 million or $0.13 per share for the second quarter of 2012.
"Significant regulatory milestones were achieved with Baxter's HyQvia and Roche's Herceptin last quarter. Working with our partners, we look forward to bringing these life-changing treatments to patients and medical communities across Europe," said Gregory I. Frost, Ph.D., President and Chief Executive Officer, Halozyme. "We also announced clinical advancement of our proprietary programs in pancreatic cancer, diabetes and dermatology, further accelerating our key value drivers enabled by our technology platform."
Second Quarter and Recent Business Updates
Second Quarter and Six Months 2013 Financial Highlights
Webcast and Conference Call
Halozyme will webcast its Quarterly Update Conference Call today, August 7, 2013 at 4:30 p.m. ET/1:30 p.m. PT. During the call, management will discuss the financial results for the second quarter of 2013 and provide a business update. To listen to the live webcast please visit the "Investors" section of Halozyme's corporate website at www.halozyme.com. A webcast replay will be available shortly after the call at the same address. To participate by phone, please dial (877) 407-8037 (domestic callers) or (201) 689-8037 (international callers). A telephone replay will be available by dialing (877) 660-6853 (domestic callers) or (201) 612-7415 (international callers) using replay ID number 418819.
Halozyme Therapeutics is a biopharmaceutical company dedicated to developing and commercializing innovative products that advance patient care. With a diversified portfolio of enzymes that target the extracellular matrix, the company's research focuses primarily on a family of human enzymes, known as hyaluronidases, which increase the absorption and dispersion of biologics, drugs and fluids. Halozyme's pipeline addresses therapeutic areas, including diabetes, oncology and dermatology that have significant unmet medical need. The company markets Hylenex® recombinant (hyaluronidase human injection) and has partnerships with Roche, Pfizer, Baxter, ViroPharma and Intrexon. Halozyme is headquartered in San Diego, CA. For more information on how we are innovating, please visit our corporate website at www.halozyme.com.
Safe Harbor Statement
In addition to historical information, the statements set forth above include forward-looking statements (including, without limitation, statements concerning potential product launches and near-term revenue opportunities, the Company's future expectations and plans for the development and commercialization of product candidates and the potential benefits and attributes of such product candidates) that involve risk and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. The forward-looking statements are typically, but not always, identified through use of the words "believe," "enable," "may," "will," "could," "intends," "estimate," "anticipate," "plan," "predict," "probable," "potential," "possible," "should," "continue," and other words of similar meaning. Actual results could differ materially from the expectations contained in forward-looking statements as a result of several factors, including unexpected expenditures and costs, unexpected results or delays in development and regulatory review, regulatory approval requirements, unexpected adverse events and competitive conditions. These and other factors that may result in differences are discussed in greater detail in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 1, 2013.
Hill + Knowlton Strategies
Halozyme Therapeutics, Inc Condensed Consolidated Statements of Operations(Unaudited)Three Months Ended June 30,Six Months Ended June 30,2013201220132012REVENUES:Product sales, net
712,353Revenues under collaborative agreements
14,453,8107,757,17526,287,35015,197,354OPERATING EXPENSES:Cost of product sales
1,283,949143,1202,022,920213,881Research and development
27,990,75516,081,72950,025,19231,972,838Selling, general and administrative
7,299,7545,580,42414,855,65912,199,131Total operating expenses
(22,120,648)(14,048,098)(40,616,421)(29,188,496)Investment and other income
$ (22,911,511)$ (14,021,119)$ (42,199,880)$ (29,140,300)Basic and diluted net loss per share
(0.27)Shares used in computing basic and diluted net loss per share 112,486,211112,063,665112,451,693109,826,589
Halozyme Therapeutics, IncCondensed Consolidated Balance SheetsJune 30,December 31,20132012(Unaudited)ASSETSCurrent assets:Cash and cash equivalents
99,501,264Marketable securities, available-for-sale
48,082,636-Accounts receivable, net
2,466,9992,670,696Prepaid expenses and other assets
11,111,83312,752,888Total current assets
100,420,847130,627,935Property and equipment, net
4,576,5063,700,462Prepaid expenses and other assets
34,728,397LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilities:Accounts payable
15,289,4317,783,447Deferred revenue, current portion
6,419,6818,891,017Current portion of long-term debt, net
3,643,156-Total current liabilities
32,833,25018,946,153Deferred revenue, net of current portion
33,681,99634,954,966Long-term debt, net
26,075,50729,661,680Lease financing obligation
2,100,0001,450,000Deferred rent, net of current portion
874,208861,879Other long-term liability
678,700-Stockholders' equity:Common stock
113,286112,709Additional paid-in capital
351,843,228347,314,658Accumulated other comprehensive loss
(340,773,528)(298,573,648)Total stockholders' equity
11,143,67748,853,719Total Liabilities and Stockholders' Equity
|SOURCE Halozyme Therapeutics, Inc.|
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