SAN DIEGO, Jan. 9, 2018 /PRNewswire/ -- Halozyme
Therapeutics, Inc. (NASDAQ: HALO), a biotechnology company
developing novel oncology and drug-delivery therapies, forecasts 25
to 30 percent royalty revenue growth in 2018 and potential for
royalty revenue to reach nearly $1
billion in 2027 based on the current and expected momentum
of partners coformulating products with its ENHANZE®
technology.
Halozyme provided these and other program updates today during
CEO Dr. Helen Torley's presentation
at the 36th annual JP Morgan Healthcare Conference.
"We enter 2018 building on the most successful year in Halozyme
history, where we established our ENHANZE technology as the go-to
standard to convert IV therapies to subcutaneous delivery,
potentially helping our partners improve their competitive
advantage and easing the treatment burden for patients," said Dr.
Torley. "With this momentum and the marquee therapies under
development or planned for development with ENHANZE – including
subcutaneous formulations of Darzalex, a Herceptin/ Perjeta
fixed-dose combination and Opdivo – we now see the potential for
ENHANZE royalty revenue to reach nearly $1
billion in 2027."
Janssen initiated four phase 3 registration studies with ENHANZE
in 2017, and Halozyme expects additional partners to begin three
phase 1 studies with new targets in 2018. The breadth of clinical
development with the ENHANZE technology follows the signing of
three global collaboration and licensing agreements in 2017. In
total, Halozyme now has eight partners with the potential to
generate an average mid-single-digit royalty on net sales of
commercialized products.
Three commercialized products coformulated with the ENHANZE
technology generated $64 million in
royalty revenue in 2017, growing 25 percent from 2016, Dr. Torley
said. The company expects to report fourth quarter and 2017
financial results in February.
Halozyme also provided updates on the clinical development of
its late-stage investigational oncology drug, PEGPH20
(pegvorhyaluronidase alfa), including its HALO-301 registration
trial in metastatic pancreatic cancer patients. As previously
announced, the company expects the study will reach the target
number of progression-free survival events late in the fourth
quarter. In addition, Halozyme may report phase 1b response rate data during the year from two
other clinical trials studying PEGPH20 in additional tumor types.
Between Halozyme- and partner-led trials, PEGPH20 is being studied
in pancreas, gastric, lung, breast, gall-bladder and bile-duct
cancers.
Dr. Torley said the company exited 2017 with $460 million to $470
million in cash and cash equivalents and is well financed
into 2020. Financial guidance for 2018 was provided during her
presentation, a replay of which may be found on the "Investors"
page of halozyme.com.
About Halozyme
Halozyme Therapeutics is a biotechnology company focused on
developing and commercializing novel oncology therapies that target
the tumor microenvironment. Halozyme's lead proprietary program,
investigational drug PEGPH20, applies a unique approach to
targeting solid tumors, allowing increased access of
co-administered cancer drug therapies to the tumor in animal
models. PEGPH20 is currently in development for metastatic
pancreatic cancer, non-small cell lung cancer, gastric cancer,
metastatic breast cancer and has potential across additional
cancers in combination with different types of cancer therapies. In
addition to its proprietary product portfolio, Halozyme has
established value-driving partnerships with leading pharmaceutical
companies including Roche, Baxalta, Pfizer, Janssen, AbbVie, Lilly,
Bristol-Myers Squibb and Alexion for its ENHANZE® drug
delivery technology. Halozyme is headquartered in San Diego. For more information visit
www.halozyme.com.
Safe Harbor Statement
In addition to historical information, the statements set forth
above include forward-looking statements concerning the Company's
future expectations and plans for 2018, timing and results of
clinical trials, the development and commercialization of product
candidates and the potential benefits and attributes of such
product candidates (including, without limitation, statements
concerning the possible activity, benefits and attributes of
PEGPH20, the possible method of action of PEGPH20, its potential
application to improve cancer therapies and statements concerning
future actions relating to the development of PEGPH20). These
statements also include forward-looking statements concerning the
possible activity, benefits and attributes of the company's ENHANZE
technology, the possible method of action of ENHANZE, its potential
application to aid in the dispersion and absorption of other
injected therapeutic drugs, the number of collaborative targets
actually chosen, the product development efforts of our ENHANZE
partners, whether such products are ultimately developed or
commercialized, whether milestones triggering milestone payments
will be achieved, and statements concerning facilitating more rapid
delivery of injectable medications through subcutaneous delivery.
The forward looking statements also include the Company's expected
financial outlook, including expectations for royalty revenue
growth in 2018 and beyond. These forward looking statements 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
fluctuations or changes in revenues from collaborators or product
sales, unexpected clinical trial delays or results, including
enrollment delays, 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 most recent Annual and Quarterly Reports filed with
the Securities and Exchange Commission.
Contacts:
Jim Mazzola
858-704-8122
ir@halozyme.com
Chris Burton
858-704-8352
ir@halozyme.com
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SOURCE Halozyme Therapeutics, Inc.