HALOZYME THERAPEUTICS, INC.

Listed Company

HALOCIK 0001159036NasdaqLarge AcceleratedBiological Products, (No Diagnostic Substances)DelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.40B

Net Income

$316.89M

Total Assets

$2.53B

Equity

$48.81M

Shares Out

118.02M

Op. Cash Flow

$651.56M

Business

HALOZYME THERAPEUTICS, INC. is a biopharmaceutical company that advances drug delivery technologies to improve patient experiences and outcomes. It develops and licenses ENHANZE®—a platform based on recombinant human hyaluronidase (rHuPH20)—and designs pressure-assisted auto-injector devices to facilitate rapid subcutaneous delivery of biologics, small molecules and fluids. Its business is organized around ENHANZE collaborations and licensing, device development and supply, and commercialization of proprietary products such as Hylenex® and XYOSTED®. Products and collaborations are marketed and distributed globally through pharmaceutical partners, wholesalers, hospitals, specialty and retail pharmacies, and third-party logistics providers.

Summary from filing dated 2025-02-18

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	1,397	1,015	829	660	443
Cost of sales	229	159	192	139	81
Amortization of intangibles	77	71	74	43	0
Research and development	81	79	76	—	—
Selling, general and administrative	207	154	149	144	50
Impairment of intangible asset	49	0	0	—	—
Acquired in-process research and development expense	285	0	0	—	—
Total operating expenses	928	464	492	393	167
Operating income	469	551	338	268	276
Investment and other income, net	21	24	16	1	1
Inducement expense related to convertible notes	−5	0	0	−3	−21
Contingent liability fair value measurement gain	0	0	13	0	0
Interest expense	−18	−18	−19	−17	—
Income before income tax expense	467	557	348	249	249
Income tax expense	150	113	67	47	−154
Net income	317	444	282	202	403
Basic (usd per share)	2.64	3.5	2.13	1.48	2.86
Diluted (usd per share)	2.56	3.43	2.1	1.44	2.74
Basic (in shares)	120	127	132	137	141
Diluted (in shares)	124	129	134	141	147

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	134	116	118	234	119
Marketable securities, available-for-sale	9	480	218	129	—
Accounts receivable, net and contract assets	441	308	234	231	—
Inventories	176	142	128	100	54
Prepaid expenses and other current assets	65	39	49	45	40
Total current assets	825	1,085	746	739	926
Property and equipment, net	82	75	75	76	9
Prepaid expenses and other assets	54	81	18	26	13
Goodwill	580	417	417	409	0
Intangible assets, net	981	402	473	547	0
Deferred tax assets, net	0	4	4	44	155
Restricted cash	3	0	0	500,000	500,000
Total assets	2,525	2,063	1,733	1,842	1,104
Accounts payable	21	10	12	18	2
Accrued expenses	156	129	101	100	24
Total current liabilities	177	139	112	131	117
Long-term debt, net	2,143	1,506	1,499	1,493	—
Other long-term liabilities	114	55	38	33	544,000
Deferred tax liabilities, net	43	0	—	—	—
Total liabilities	2,477	1,700	1,649	1,672	—
Commitments and contingencies (Note 11)	—	—	—	—	—
Preferred stock - $0.001 par value; 20,000 shares authorized; no shares issued and outstanding	0	0	0	0	0
Common stock - $0.001 par value; 300,000 shares authorized; 117,782 and 123,138 shares issued and outstanding as of December 31, 2025 and 2024, respectively	118,000	123,000	127,000	135,000	138,000
Additional paid-in capital	12	0	2	27	256
Accumulated other comprehensive (loss) income	−18	4	−9	−922,000	−620,000
Retained earnings	55	360	91	143	−59
Total stockholders equity	49	364	84	170	197
Total liabilities and stockholders equity	2,525	2,063	1,733	1,842	1,104

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Share-based compensation	52	43	37	24	21
Depreciation and amortization	11	10	11	7	3
Amortization of debt discount	8	7	7	8	4
Accretion of premium on marketable securities, net	−3	−11	−6	1	2
Realized gain on marketable securities	−171,000	−7,000	0	2	0
Loss on disposal of equipment	3	2	611,000	129,000	0
Lease payments recognized (deferred)	951,000	1	1	−903,000	−751,000
Deferred income taxes	634,000	532,000	35	40	−155
Accounts receivable, net and other contract assets	−128	−74	−3	−84	7
Inventories	3	−67	−27	−17	7
Prepaid expenses and other assets	−33	5	4	−9	−12
Accounts payable and accrued expenses	6	47	−13	25	1
Net cash provided by operating activities	652	479	389	240	299
Purchases of marketable securities	−247	−648	−293	−255	−653
Proceeds from sales and maturities of marketable securities	722	396	211	746	248
Acquisition of business, net of cash acquired	−726	0	0	−999	0
Acquisition of in-process research and development, net of cash acquired	−288	0	0	—	—
Purchases of property and equipment	−7	−11	−15	−5	−1
Net cash used in investing activities	−546	−263	−97	−487	−406
Payment for the induced conversion of 2027 and 2028 Convertible Notes	−5	0	0	—	—
Payment of debt issuance cost	−5	0	0	−7	−424,000
Repurchase of common stock	−342	−250	−402	−200	−350
Proceeds from issuance of common stock under equity incentive plans, net of taxes paid related to net share settlement	22	31	8	14	13
Net cash used in financing activities	−85	−219	−408	362	78
Net increase (decrease) in cash, cash equivalents and restricted cash	21	−3	−116	115	−29
Interest paid	11	11	11	6	3
Income taxes paid, net	135	81	32	16	−375,000
Amounts accrued for purchases of property and equipment	902,000	280,000	25,000	6	72,000
Right-of-use assets obtained in exchange for lease obligation	410,000	3	3	34	318,000
Common stock issued for conversion of 2024 Convertible Notes	0	0	125,000	1	8

Filings

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