HALO - Earnings call transcript Q2 2022 | Halozyme Therapeutics, Inc.

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Operator

Good afternoon. My name is Rex, and I will be your conference operator today. At this time, I would like to welcome everyone to the Halozyme Q2 2022 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. you. Thank Instructions] [Operator I Relations to and time, Vice Tram President, Investor Corporate would this introduce like Bui, At Communication.

You may begin your conference.

Tram Bui

Good and call. operator. quarter you, afternoon to welcome Thank Halozyme XXXX financial operating conference results and second

earnings market In addition release during that can Leading press you On call, for making XXth, filings of will to today's measures presentation the call a provide Also presentation. slide reconciled be financial to an June will Investor the measures will close, Officer, a financial risk measures call XXXX. ended Relations Dr. the be will Executive our are and Helen quarter our Torley, financial Officer, after supplementary section the release non-GAAP Nicole adjusted over issued and Torley. discussed. find President today's comparable GAAP will you today and our the or non-GAAP our Halozyme's GAAP referenced to who now call, our uncertainties. financial in the both turn SEC press Financial Chief on be results I we second and with update LaBrosse, and refer for call during Helen review The be in Chief business; forward-looking our the who I'll statements. our slide will website.

Helen Torley

Thank you, Tram three. begin afternoon everyone. slide and good on I'll

to enhance of half to first many are has illustrative Halozyme year the the in accomplishments Our growth. continue the opportunities our of

position It deliver drug the and the These differentiated strategy is I'm we're additions include vector And our augmenting established. achieve milestones. strategy. growth that business, story. track on and strengthened specialty commercial multiple opportunities, achieving to opportunity our With operational of and as our a approach thereby continue to activities of the adding this gives we to a to execution further us acquisition platform expanded development report as best-in-class delivery delivery, commercial auto-injector and our which goals time we growth integration to Antares, leading excellence, in expanded XX-day Halozyme's point, are products. company that a further corporate proceeding happy we plan drug combination and confidence specialty

the Ontario's quarter post highlights, reported the non-GAAP second now of May revenue and in we on per year-over-year close per resulted $X.XX. of share million, of $X.XX, a inclusive XXth revenues, performance share of financial acquisition GAAP Focusing increase. This adjusted earnings earnings XX% $XXX.X

devices acquisition. with Based close revenue collaboration our results, for and for result in royalty quarter Antares the the Our second together results post-close from partners continued on planned the year-to-date the revenues latest XXXX. are of ENHANCE revenues the strong from strong by and and royalty guidance expenditures auto-injector and the transaction sales driven product Antares as year, growth addition of a the were we information from raising recent of

per guidance expect an of For $XXX increase XX% year. due to X% we full $XXX XX% This to our $X.XX is $X.XX, a total of representing adjustments, $X.XX, current our $X.XX, million to GAAP share. decrease to revenue. per to range over prior to expect non-GAAP costs range an other $X.XX XXXX, the $X.XX million $X.XX acquisition-related non-GAAP growth acquisition-related be earnings costs $X.XX, revenues Adjusting for represents increase updated of to from our total and diluted to XX% to XXXX $XXX share in earnings share prior we per million. an million, of over guidance from mainly guidance year prior diluted increase of of XXXX, from $XXX to to earnings

some royalty slide and I'll to revenue more performance. X, provide move detail now on me Let

quarter representing quarter, total These XX% project revenue growth XXXX royalty stream. prior and $XX.X ongoing million, growth the of successful our royalty We million, subcutaneous royalty, an greater by royalty than quarter XXXX. revenues we growth. portion driven Wave formulations ENHANZE launches, over in In the of high-margin of encourage Janssen's growth led an for million of $XXX by X that the launches this global product growth Based This revenue stream increase close. growth in by Year-over-year we by and momentum, ENHANZE second to see second performance. include the royalty of addition the subcutaneous drug-device results sequential and DARZALEX resulting our May follows device recurring to project projected robust the driven and continue be was revenue and of to XX% now projection growth. transaction continues the be on is royalty XX% DARZALEX increase revenue Roche’s $XXX is Phesgo. also strong for the XX%, to in from revenues increased of Royalty

$X the second both provide quarter DARZALEX, Turning of on of & worldwide subcutaneous more sales Janssen’s will driven gains use sales DARZALEX and XX% uptake share now to billion, that and including of formulation. performance. some subcutaneous in color I an more operational slide Johnson parent was by X. company DARZALEX The IV forms regions, DARZALEX year-over-year subcutaneous all reported increase an notice increased on Johnson of than and continued basis. strong

Symphony from second United end an continues data. the DARZALEX, the of on SC subcutaneous quarter. is grow quarter the Moving share end XX% of share States based with at to first quarter increase This XX% during to share an in the

reported SC & XX% to grew Johnson in conversion Europe. Johnson Additionally,

that with the results the reported for ENHANZE combination breast the to recent sales their second Roche strong of now our quarter cancer for of Phesgo Roche XXXX, partner utilizes Moving by technology. treatment patients

conversion adoption. quarter be eight million, proven Phesgo CHFXXX short countries a healthcare where especially of to XX% capacity increase geographic with now in sales of an expansion, is minute limited As five with for some a XXX% infusion patients systems, were second plan administration option reporting to up Phesgo year-over-year. an is and of with attractive result countries subcutaneous ongoing to

positive, the continued frontline penetration in as through Phesgo and giredestrant accounts of expect encouraging oncology up also a oral Herceptin which with excited United to which just and We're is initiating States. opening breast a and quarter-over-quarter of a subcutaneous, also in comment strong potential Rituxan Roche ongoing And X of Hycela Hylecta. the metastatic study include subcu ER MabThera future in rest continue in called the on We for subcutaneous world products, or is a that cancer brief treatment Wave patients, regimen. Europe Herceptin result growth or launches positive

overview on focus I'll is Wave royalties continue to opportunity represent source ENHANZE the an X, are products of note biosimilar We attention I portfolio. mature Slide which product. X in from new of as that products Illustrated the the contributing nicely impact to as these of for a a modest will related recurring a ongoing IV your project these result to decline on still revenue and revenue. royalty Halozyme. X competition

potential XXXX Our opportunities and XXXX. protected Wave X between set products represent with launches of the next

we've expanded X top You Phase products, as that recent will we OCREVUS note X from including from will SC both XXXX. Wave line four study the the are now the data be to in update following available

Moving X Tecentriq with now products I'll most Wave of advanced our the to and efgartigimod. begin Slide X.

IV an with findings Tecentriq intravenous of as Medicines met or opportunity delivery, down that Roche authorities products the We metastatic of to study study were blood to study for in point. European data to end its that US time with and injected was ENHANZE recently reducing regulatory formulation non-inferior The failed. delighted XX has with immunotherapy-naive and Drug subcutaneous three believe eight in formulation of advanced for platinum Tecentriq upcoming Agency. cell The lung whom Food plans levels core Tecentriq in with demonstrate subcu subcutaneous including the consistent co-primary infusion ENHANZE results for the Most health announced advanced Phase atezolizumab, in also safety potentially serve evaluating submit III to subcutaneous IV these are further approval to Roche formulation for for ENHANZE results. positive compared medical Phase and to Tecentriq. cancer showed by recently, patients XX prior meeting these non-small the benefit treatment treatment. globally, lung the subcutaneously both Administration of III from cancer at its patients patients minutes minutes a study positive We of or our of therapy non-small profile the

of cancer in lung first Tecentriq now XXXX, intravenously, the of XX% in administered move adjuvant efgartigimod. to I'll half growing billion, year-over-year, uptick revenues setting. CHFX.X had During the reporting strong Roche and argenx with

Five announced in Myasthenia track of in March efgartigimod the the this XXXX, results first is named of US to positive in patients generalized by XXXX potential with Drug to Japan SC of efgartigimod X the efgartigimod a of Food in XXXX. Gravis approval Guard, Following year. end by Administration biologics brand for ENHANZE has track to and in adult anticipated We our launches is the Gravis. agreement December on IV, in believe on was treatment the license Myasthenia submit Wave be which XXXX FDA the with potential and of of January with for approved partner argenx

is Phase stage of $X I'll in billion X move including commented idiopathic enhanced with for continues QX. of patients patients Argenx with pipeline estimated their we for in indications out a currently Slide purpura, polyneuropathy the data important projected X,XXX were Wave be launch development. products, from with chronic of on on therapy for strong [ph]. XXXX inflammatory In in readouts diseases. thrombocytopenic new consensus with BMS million, further Penthagus second reported evaluation in four X almost demyelinating multiple closing, On study. illustrated the efgartigimod ENHANZE of XXXX, recent QX quarter this partnering sales analyst being with subcu by now XXX in global excited call, immune III argenx that with argenx $XX management evaluated With is data nivolumab efgartigimod additional to in and in their to byproduct of auto up revenues their approximately on an Slide treatment, X,

in four XXXX I products, has in are events ongoing on slide potential XXXX Our are Halozyme. with if they to number XX continue resulting in are products partner development to in goal major to to launch expand to an and these milestone to continuously completed or of development the of testing products of I have revenue Phase advance development the clinical and that many stages products wave time remains testing. Highlighted the launch Phase this launches. the payments potential These frame.

provide and just me updates I tolerability Chugai administered study antibody the to some a evaluate In is study signal collaboration to the initiated ENHANZE. of with Let of targeted pharmacokinetics, Phase I subcutaneously safety to year initiated ENHANZE. long-acting great the is This during a key It to this announced cabotegravir quarter. a pharmacodynamics over announced and notable Phase our agreement our making ViiV administered history pharmacokinetics, this since I we Phase off escalation months. and evaluate second in is agreement Chugai the fastest third is This target we dosing two that collaboration year, enrollment the at partner in this this with initiated March with a the of licensing that over time a and a trial strong our subcutaneously be start. safety single-dose in just June, ago. to

the endpoint is and States Additionally, ADVANCE-X Takeda a top the clinical end partner Globulin in and HYQVIA's and for HYQVIA, study for of plans chronic by rare Takeda line XX% with for III positive XXXX. The reported primary European Phase CIDP, Union recently demyelinating applications its our clinical is met also patients in CIDP submit of Immune of United their maintenance autoimmune polyneuropathy, approval results which called treatment regulatory to with disease. study is inflammatory ENHANZE which

new the In and addition project progress II pipeline for this We expect more starts than clinic advances will year. including trial to starts in the partner significant the expansion this six the in Phase existing first III products new enhanced in XXXX, we and half the study year, programs two for continue to or year. new of Phase further these XX remainder entering result than of more

a quarter. And to that You an have to subcutaneous by the June, subcutaneous payment. to relatlimab III million nominated BMS which development. study pleased in million announce an may development partner a target, related of in I BMS' testing which in quarter. start in resulting noted combination This is also second will concluding which nivolumab, in includes nivolumab anticipated is in I'm overview, Phase the ongoing this This in that program undisclosed ENHANZE and $X version is a add portfolio, collaboration a revenue $XX we Phase third recognized

Antares a over the acquisition transaction regarding XX. pleased and portfolio. Antares and enhanced are bit And slide We development pipeline, to the partner Summarized opportunities since is current color the more nine supporting look on give that on progress very you with we the to I'll this the forward our these progress represent. growth May closed significant integration

a new excitement a decades of custom-design development portfolio Antares across opportunities who combining regarding devices for device companies, to teams large fit a both exciting engineering, companies teams with for creating disease are development, technology. subcutaneous high, we gained volume in the the activated experience across of innovation need. are Our hitting brings the molecule unique small that opportunity see of is the patients patient-friendly up ground specialize auto-injector, that the areas drug the expand for running. internal delivery is design in whose that focus team cultural volume is treatment strong spectrum ENHANCE, have to that delivery to the auto-injector is goal offer drugs our What the we individuals and biologics. strong subcutaneous a delivery. platform made including which, underway also is it auto-injector for on by therapeutic We’ve Antares and their and meant innovative patient from approach licensing will of both with create companies number our The so large Work tailored

excited TLANDO, XYOSTED three We NAPTURNA [ph]. and products, have proprietary to are also added

testosterone June. Our executed, have is achieved delivered treatment. share replacement is weekly XYOSTED, weekly of through weeks XYOSTED patients expense previously growth. several its a focus continued I'm been number pleased we intramuscular And that auto-injector subcutaneous our ago our launched in who its of field receiving sign with force which grow TLANDO highest painless virtually and to treatment, gaining with by is prescription recently,

oral access team physicians not that on expanding replacement educating then coverage Our testosterone payer titration. does and focused is team twice-a-day treatment dose our require TLANDO field gaining is as a on

revenue revenue the growth projected Moving resulting now from is of to to ENHANZE. revenue to of from autoinjector can the platform, see we and top Antares commercial durable growth revenue through slide product strong on and sales XX, the acquisition for innovative add already

we Our growth waves projected in royalty launches from multiple just of is discussed. have from resulting the growth ENHANZE new revenues potential

continue our add now Moving maximize extend durability, acquisition our capital repurchases, the aligned were revenue through revenue to These to and and seek to allocation platform share fully to durability. that slide to growth to acquire ENHANZE to previously and with priorities. further return our priorities to XX, shareholders Antares would invest a announced technology capital

over in is to second strategy updated call beyond. for expected turn As guidance you can Nicole see Halozymes' our and from growth more our with company our XXXX results. supports prior non-GAAP the I'll revenue combined now accretive transaction to comments, to on and Nicole? the the financial be the guidance. year discuss and the provide detail line XXXX and quarter earnings to to I'll

Nicole LaBrosse

product the year beef associated the million payment revenue in for period. million million, an uptake of of the of prior of year $XXX.X you, driven due by the a Antares million million quarter $XX the Helen. in increase was with as subcutaneous strong to collaboration XX% utilizing $XXX.X XX% Thank Royalty primarily under slide by on result by year-over-year agreements collaboration Janssen's upfront compared compared for a DARZALEX revenues year-over-year an entering driven was to total Beginning was period. to of second to sales revenue ENHANZE. million million quarter the increase year decrease Cost prior acquisition. prior the increase the note per partially per was revenue in primarily a acquisition, to primarily diluted of onetime second prior in into second $XX.X decrease GAAP to million million the diluted the the addition $XX.X XX, continued current royalty sales period. comparing increase share $X.XX of Antares EPS were of The was compared was The increase and $XX a intangible for expense, an product in to to prior offset year in $XX.X year prior year non-GAAP compared period. quarter period. transaction important first by amortization On assets. acquisition, The the period. primarily Antares sales year, was income $XX prior the recorded compared Operating increase to in year-over-year The $XX.X was When share driven result period year-over-year prior a year of costs by including related basis, compared the as a driven in income earnings non-GAAP by per tax share. our in basis, diluted XXXX it's to On impacted that which $X.XX earnings was $X.XX period. $X.XX $X.XX was in year

the transaction as our and the now guidance of planned Moving on we XXXX. from are for close collaboration information raising strong well for the Based year, as and to recent expenditures Antares latest XX. results, year-to-date the partners slide

For $XXX contribution of $XXX prior total the XX% $XXX million $XXX of revenue full guidance million, guidance $XXX million, to Antares year is an the of revenue year revenue. to XXXX, to from $XXX to representing we the million business, our expect growth full XXXX from projected million. range The million increase total XX% over

events. on weighted sales tightening of the of from of terms increase over in from In Collaboration we of to quarter the million. levels revenues are XXXX to based XX% Product acquisitions. for in sales expected the royalties XXXX in $XXX by expect to substantially and what contribution be the year revenue, to the from components our royalties milestone than we to XXXX at to are achieved our for fourth similar XXXX from more due from increase $XXX expected to expected bearing greater Antares revenue revenue partner XXXX million

decline XXXX of planned assets, This to income. income million, million We and decrease acquisition, guidance operating of X% million to revenue maximize transaction XXXX $XXX of in prior related to Antares our $XXX a $XXX range costs million, operating durability. operating over to incremental the expense well a XX% from of extend royalty intangible representing expect as including $XX the $XXX investment amortization as includes onetime to million ENHANZE

of diluted of due for per our prior $X.XX guidance adjustments, acquisition in acquisition related guidance share is of to an share non-GAAP $X.XX increase year. XXXX an $X.XX, and earnings accretion X% $X.XX to of the the to over Antares the related costs XX% diluted expect projected per increase $X.XX We GAAP the from guidance non-GAAP be earnings in and diluted Adjusting $X.XX prior to This $X.XX, share to to the representing of from acquisition. share. mainly expect range $X.XX increase earnings per $X.XX, per to of decrease from a a other result we current costs range

balance less Our to which X.X with strong expect times sheet remained at XXXX, the than by debt-to-EBITDA the we net June three times ratio of reduce end to year. XX,

to rata from cash based operating facility strong access continue credit and project have activities. revolving low-cost to pro our through flows We debt

million We previously share will initiated to announced repurchase December share accelerated continue execute on $XXX three-year inclusive which repurchase program, $XXX concluded in June. million in of of XXXX, our

$XXX We factors. on back conditions to continue to to XXXX, call market for plan up other I'll in an With and Helen. depending turn the share now million repurchases that, additional in

Helen Torley

like you, the to this the would for strong quarter hard with performance Thank thank our resulted integration. I for work excellent Nicole. entire progress in that Halozyme team the and

operating call continuing open the for revenues, take resulting our And delighted income your to As heard for in questions. that, you the deliver us joining we with Operator, to we'll Thank today. today, would near-term be all long-term you growing and please growth. expand questions. to pipeline, and you strong are growing

Operator

[Operator the Mike from DiFiore. Instructions] line first Your question of comes

open. is line Your

Mike DiFiore

guys. for taking questions. the and Hi, my also Congrats thanks quarter in

launch this you drug impact be from reform lines, HALO's color affect extent may the how if and to Rx data products that And restricted in can a Just co-formulated new you it not could that offer considered of for give they would same? may be can, ICFI Thank And [ph] The of investors you any therefore, me. any the if beginning And own those on your considered the separately, line, IMS. one two in right. potential their on you. will pricing finances, TLANDO along the great. would top on lot parent products brand if color or tied to seems and on launch. the be as date, be

Helen Torley

thanks for Well, Mike. right. All the questions,

are to Let a reform. important certain do high-level comment that of Halozyme me in with have, to diversified the their to regulations a development though, of we specific Senate drug pricing answer. the a stages will I been very still portfolio the a has it's of globally. for by considering selling partners just give Obviously, one start innovative that Bill be awaiting published issued, is they be do a broad hard potentially this. have at by I type XXXX, the that do products certainly as passed that's And CMS, factors the we're picture and we'll very across co-formulation on of lot medicines think but a that so multiple too pencils and drugs that is in of more drugs think And say products that there only are different just first portfolio. available, very of expected be it's in our But that. would are XX But years early be feeling But new. be when of after little position be certainly, any helpful. performs. future assess we can a Similar look because those We to launch. bit are about to a our impacted pricing response certainly, details going to our able is portfolio, well to we're biologic these events good in impact talk the for their Mike, sharpening if

exactly until not think the an understand I this possible on or give going be to published, is opinion to it written be operationalized. how and is regulations to are that going

in regulations CMS a to up time. full be ago as our weeks certainly and for we'll launched obviously, launch, just share with come we assessment So TLANDO know, able that And assessment. our Senate a beginning the at on you waiting Bill to few those are June. work

Our market focus at on the moment access. really is

coverage and key access benefit managers. within gain to working is team the Our pharmacy

titration. oral to require therapy, talking that a oral our twice doesn't therapy them While the presenting dose physicians, day to representatives are our out

get additional for what So days to new positions key think to we important patients certainly, that educate strong a and place working continuing for And are be replacement. offering looking on in yet. access to going an just early is

Mike DiFiore

helpful. you. Thank Very

Operator

next Your of line the question from [ph]. Jacob comes Walter

open. is line Your

Helen Torley

move we next the question. Operator, maybe can to

able I think and could to maybe we're not hear Jake back come

Operator

Certainly.

comes Corinne line of the Jenkins. from Your question next

Your open. line is

Corinne Jenkins

high Maybe what business? And afternoon. on little a Good with an to Antares close infrastructure weeks in respect more initial level. you where particular and maybe deal? in two just rate, provide integration Can Great. that just be update going the of you've learned, and are that anything of the focused then post you to the commercial

Helen Torley

to Corinne. around ENHANZE. we mention, implemented, some sides, All auto-injector say contributing offering, to teams getting had Halozyme A who can nicely think, really used create in know, that high things very a you And with acquisition both of and Antares our of cultural we the concepts integration running that. in before, the were are give big to on ideas ground with right. do ideas Thanks everybody Well, be the as detailed the we place. point process I a highlights, market from that plans and of integration, and had performance the completed we couple to and integration have commented and now track, how going you thank hit of the the new I we just would a volume unique on did

bringing company and see how to hoping were power we that example of the together. indeed an with are just seeing the that's so, And

question infrastructure. a about specific commercial asked You

reps. an the at about voice that reach, beginning Antares were to to prepare up footprint top to of the for to make aware I'm coming prescribers. all and of being increase of of of is speed to new almost the the new And field year, that TLANDO that, XXX that terms with sure from everybody reps of think that of its obviously getting volume expansion product. And reps of we to was and up in to share right with we complete I to addition very and at all XX reps is expansion. speed frequency have began able this the now territories pleased the that coming filled obviously virtually the goal the say the

Now and in through disruption, are comes bit very and their deliver I'm to happening teams that of very just doing physician to some call many numbers that terrific job but up to with see and putting happy integration list modest a representatives a our disruption perform. obviously, moving that, continue that to are good any that's proud

confident XXXX result in And to this importantly, we're grow both the brands said are as our products, future. a XXXX. for as in so, great be that very to XXXX, both of going our we have going particularly And of over to -- I position grow a our for

Corinne Jenkins

that And product Thanks. your relative within into that partner color indication? any Ocrevus it you of importance the additional what to the of X on there is that maybe, pull-forward about then pulling group the on And suggests Wave provide subcu, can of products? potentially color any

Helen Torley

catch Would Corinne, parts some And repeating? I you sorry, that. so mind of couldn't

Corinne Jenkins

Sure.

What give product subcu to little any the importance Can with that was a space? Sorry. on about previously that X, of it that Wave update Roche the in in quarter? you Ocrevus on then you a notable just what additional suggests in provide Wave relative pull-forward the color that's can like And now X? sense thoughts

Helen Torley

mention That's With did XXXX. happened forward. great. their expect to in management was regard Ocrevus, It that earnings a proof recent necessarily don't update most think that they just in call to an sort data of I Roche there's

given potential now firmly with that launch into that and that a and X more the articulating move for Wave XXXX them between certainty to of confirmation able were XXXX. So,

therapy brand over in could the being you them, on to would a was last, about and to seems it to also oral I able that where the move be with calls for think, look recognizing And point marketplace. months, plan I at XX where commented the marketplace management fitting at is that over there's but subcu So look comments quarterly several they And Ocrevus growth and a that been Roche repeat fits more really its Roche as really important by provided the this clarity by again. more with regard that going in to made portfolio, being therapy. a if subcutaneous XX one be terrific seeing and we

see So signal to a with with me those important myasthenia patients comments an subcu -- they of sclerosis. as their multiple that certainly offerings part for

Corinne Jenkins

you. Thank

Operator

comes [Operator David Instructions] Risinger. Your question next from

Your line open. is

David Risinger

much. Yes. very Thanks

of please. So a I couple questions, have

First, -- EPS year figure on And -- the the updated for what is could impact projection? new TLANDO could So and But third, what us you. to was the sign non-GAAP a talk so Antares medium was about can't impact non-GAAP EPS on in tell second XXXX business could full of near you opportunities the non-GAAP your you said been And then once-daily to the has prospects, remind comment term? the quarter? what I Thank partnerships about on on quarter? potential expected then please timing? pursuing Second, second apologize. I or basis us you in a development what recall.

Helen Torley

I'll EPS? you, Nicole Thank answer to non-GAAP start, question. for And questions take on David, ask will the in the Would I order. you these the

Nicole LaBrosse

to this. do happy Yes,

of period that revenue the contribution, XXth, just quarter. that provided we on we that end detail, of acquisition the of to of $XX.X the Antares that the level did streams through did date And quarter. contribute provide the while haven't from So, the a for is time reminder May million

to is increased reflective and as we've accretion the for of non-GAAP it and guidance for see period, that diluted acquisition full update the per we've project did that the the from the share, then that year that our the I including business. year part that can updating we've that period full our $X.XX that of we for So, results. by range, adjusted full contribution And in EPS the say you'll QX year, we related for Antares and our well, that is included

Helen Torley

move And exercise duration We on the right. on don’t the a was to with TLANDO. development study provide fairly update return TLANDO which looking That is I'll expectations that. an at the of comprehensive analysis TLANDO, All at for cost that once-daily our the potential legacy. versus XR, pursue option clinical can based we to the outsized

oral, twice-daily came And development, talking we our would So, our ml auto-injector, X.XX the are done has a develop have say, ENHANZE. X? portfolio for the to incoming possible test a do and we and at by several X to their therapy a reception being our they believe now to it would we very all to find always the systematic be X companies, as into to auto-injector, exciting. been that in ml getting with you there Is was burned are And and presenting one very or we plan options, which that we the been And very assessment, partners, partners on a include calls past, replacement who say have indeed offerings of which and It also be differentiated look out and we testosterone is going already are million, weekly the just increasing, if that partners, injection done lot these current ml expressed well as auto-injector our then products of beginning X.X very with present fit. that's business see a -- excited off that I'm then been positive ml back also I'll people about a portfolio with offerings those the kicking XYOSTED the to market. Y? subcu today, to auto-injector, interest potential with a possible a virtually has can proactive to now I incoming that busy in new has the it inquiring August. terrific is do calls. very to might tell fit them call out that positive to new And ml used one be as could

volume Halozyme the of reception, design that nice disease, feedback ability how injection. is So what it's working think to from differentiated to is response I population, auto-injector with engineers the getting is. And injection, sure does desired good Antares the partners very very patient very make we're different, speed a certainly, to this to develop and device, a customized make the seem potential of is, talented whatever the it

to a start encouraging very strong based discussions. just of last several off And on and BD so weeks the

David Risinger

Thank you.

Operator

next from of line comes Jessica Your question Fye. the

open. Your line is

Jessica Fye

for thanks my guys, taking Hi, question.

repo debt update the priorities, versus I Thank versus more wondering your share if your allocation Antares could additional think us capital pay you under was about you. closed you on So when down belt, with acquisitions?

Helen Torley

Nicole ask address me that. to let Well, Yes.

Nicole LaBrosse

million utilizing share we accelerated repurchase did was our our regards be first we an continue late repurchases, say to purchase remain would program. million which in I initiated complete allocation the plan intact the that, that Jess. Thanks focused in $XXX specifically this plans on share last three-year $XXX year a across priorities, Yeah. We of capital plan. quarter existing board to with our

additional So to remaining and year. purchase that was an quarter, million to we completed months plan $XXX the of do this in the up

and have of reduce three by tracking access So net nicely. X.X our do and markets, end to less expect is a we still we which to of the -- to leverage access we times at do year. the our to that low the of end we ratio Again, to capital than monitor debt, times the quarter, continue

of type again, to of continues continuing leverage and as be the us as externally we're on for to of place as for here, success well. focused that then putting continue pieces focus grow the that integration all very that Helen to externally a and focus an we're growing So be will acquisition access in well. mentioned, us And also to area this but

Operator

questions to Instructions] There I [Operator this at the you. over turn no time. Ms. further Torley, call back are

Helen Torley

hallmark for as integrated with for you. the this everybody even exciting an thank which carries. we Obviously, of quarter We us appreciate us we believe, is operational Halozyme call. key Well, strong performance, and joining

to momentum quarter, today. And so the you attention strong continue where all and we very success. expect we look additional Bye-bye. to forward Thank for in your this updates next providing

Halozyme Therapeutics (HALO) 9 Aug 222022 Q2 Earnings call transcript