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
Three Months Ended June 30,
Six Months Ended June 30,
Product sales, net
Revenues under collaborative agreements
Cost of product sales
Research and development
Selling, general and administrative
Total operating expenses
Investment and other income
Basic and diluted net loss per share
Shares used in computing basic and dilutednet loss per share
Halozyme Therapeutics, Inc
Condensed Consolidated Balance Sheets
Cash and cash equivalents
Marketable securities, available-for-sale
Accounts receivable, net
Prepaid expenses and other assets
Total current assets
Property and equipment, net
Prepaid expenses and other assets
LIABILITIES AND STOCKHOLDERS' EQUITY
Deferred revenue, current portion
Current portion of long-term debt, net
Total current liabilities
Deferred revenue, net of current portion
Long-term debt, net
Lease financing obligation
Deferred rent, net of current portion
Other long-term liability
Additional paid-in capital
Accumulated other comprehensive loss
Total stockholders' equity
Total Liabilities and Stockholders' Equity
SOURCE Halozyme Therapeutics, Inc.
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