Halozyme Raises Full Year Guidance and Updates 5-Year Financial Outlook

 Halozyme Therapeutics, Inc. (NASDAQ: HALO) ("Halozyme") today announced that the Company is raising its full year 2024 financial guidance and updating its 5-year financial outlook based on the grant of European Patent No. 4269578, covering the ENHANZE® rHuPH20 product obtained from Halozyme's ENHANZE® manufacturing methods that the Company provides to its current and future licensees. The new patent is licensed under all of Halozyme's ENHANZE® licenses. It will be validated in 37 European countries and expires on March 6, 2029.

"We are pleased to be able to raise our full year 2024 financial guidance and 5-year financial outlook, which now reflect the original royalty rate for DARZALEX SC in Europe from the granting of this new European patent, which is valid through March 6, 2029," said Dr. Helen Torley, president and chief executive officer of Halozyme.

Under the terms of Halozyme's ENHANZE® license with Janssen, the newly granted patent prevents the reduction in the royalty rate on sales of DARZALEX® SC in the European countries where it is validated until the patent expires. The new patent is not expected to have any impact to royalties under other ENHANZE® licenses with an issued or pending collaboration patent, as current royalty rates for these licenses already are expected to extend beyond expiration of the new patent. 

Based on the new European patent for ENHANZE®, the Company is raising its full year 2024 financial guidance and updating its 5-year financial outlook during its investor presentation.

https://www.prnewswire.com/news-releases/halozyme-raises-full-year-2024-financial-guidance-and-updates-5-year-financial-outlook-302165654.html