$HALO · HALOZYME THERAPEUTICS, INC.
Halozyme reported Q3 FY2026 results: total revenue $493.0M (up 39% YoY from $354.3M), royalty revenue $341.0M (up 44%), net income $247.0M, GAAP diluted EPS $2.01 and non-GAAP diluted EPS $2.39. The company raised full-year 2026 guidance to total revenue of $1.860–$1.925B, royalty revenue of $1.235–$1.255B, adjusted EBITDA of $1.240–$1.290B, and non-GAAP diluted EPS of $8.75–$9.05.
- Q3 total revenue $493.0M, up 39% YoY from $354.3M.
- Royalty revenue $341.0M, up 44% YoY from $236.0M.
- Net income $247.0M vs $175.2M a year earlier.
- Full-year 2026 revenue guidance raised to $1.860–$1.925B.
- Dutch court enjoined Merck from launching Keytruda Qlex in eight European markets.
Extended-hours last trade $115.66, down 5.94% vs the $122.96 regular close, despite the beat and raised guidance — suggesting the market may have expected more or is weighing the $1.5B convertible notes dilution.
A 39% revenue jump, raised guidance, and a patent injunction against Merck's Keytruda Qlex make this a high-signal quarter for a royalty-compounding platform.
Halozyme's ENHANZE royalty engine continues compounding as partner products (VYVGART Hytrulo, DARZALEX SC, Phesgo) scale, reinforcing its position as a drug-delivery royalty platform across large pharma partners.
The $1.5B convertible notes issuance adds potential dilution and interest expense; litigation costs tied to the Merck patent infringement case are rising SG&A.