Halozyme Therapeutics, Inc. (NASDAQ:HALO) Q3 2024 Earnings Conference Call October 31, 2024 4:30 PM ET

Company Participants

Helen Torley - President, Chief Executive Officer
Nicole LaBrosse - Chief Financial Officer
Tram Bui - Vice President of Investor Relations, Corporate Communications

Conference Call Participants

Brendan Smith - TD Cowan
Mike DiFiore - Evercore ISI
Jason Butler - Citizens JMP
Corinne Jenkins - Goldman Sachs
Mitchell Kapoor - H.C. Wainwright
Mohit Bansal - Wells Fargo
David Risinger - Leerink Partners

Operator

Good afternoon. My name is Jal [ph] and I'll be your conference operator today. At this time, I would like to welcome everyone to the Halozyme Third Quarter 2024 Financial and Operating Results Conference Call.

All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. [Operator Instructions]. Please note, this event is being recorded.

I'll now turn the call over to Tram Bui, Halozyme's Vice President of Investor Relations and Corporate Communications. Please go ahead.

Tram Bui

Thank you, operator. Good afternoon and welcome to our third quarter 2024 financial and operating results conference call. In addition to the press release issued today after the market closed, you could find a supplementary slide presentation that will be referenced during today's call in the Investor Relations section of our website.

Leading the call will be Dr. Helen Torley, Halozyme's President and Chief Executive Officer, who will provide an update on our business; and Nicole LaBrosse, our Chief Financial Officer, will review our financial results as well as our outlook.

On today's call, we will be making forward-looking statements as outlined on Slide 2. I would also refer you to our SEC filings for a full list of risks and uncertainties. During the call, both GAAP and non-GAAP financial measures will be discussed. Certain non-GAAP or adjusted financial measures are reconciled with the comparable GAAP financial measures in our earnings press release and slide presentation.

I will now turn the call over to Dr. Helen Torley.

Helen Torley

Thank you, Tram, and good afternoon, everyone. Let me start on Slide 3. I am very pleased to report we delivered strong third quarter financial results with a 34% increase in total revenues to reach an all-time high of $290 million in the quarter. This was largely driven by royalty revenue, which increased 36% to another record amount of $155 million.

This performance reflects the continued expansion and broadening of adoption of our ENHANZE drug delivery technology, with continued strong growth of DARZALEX Subcutaneous, Phesgo, and VYVGART Hytrulo.