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Halozyme Therapeutics Q4 revenue $53.7 million

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Christian Fernsby ▼ | February 25, 2020
Halozyme Therapeutics yesterday reported financial results for the fourth quarter ended December 31, 2019.
Halozyme Therapeutics
Halozyme Therapeutics   The year over year decrease was primarily driven by a $25 million upfront paymen
Revenue for the fourth quarter was $53.7 million compared to $60.2 million for the fourth quarter of 2018.

Topics: Halozyme Therapeutics

The year over year decrease was primarily driven by a $25 million upfront payment from Roche in the year ago period 2018 related to the expansion of Roche's collaboration with Halozyme, partially offset by higher API sales to our partners in the current period.

Revenue for the quarter included $17.2 million in royalties, which compared to $19.3 million in the prior year period.

Total revenues for the full year were $196.0 million, compared with $151.9 million in 2018, representing growth of 29% year over year.

Research and development expenses for the fourth quarter were $45.1 million, compared to $36.7 million for the fourth quarter of 2018.

The increase in expenses was due to $17.2 million in restructuring and one time charges related to the shift in strategic focus to the Company's ENHANZE drug delivery technology, partially offset by $9.4 million lower PEGPH20 clinical trial related costs.

Research and development expenses for the full year were $140.8 million, compared with $150.3 million in 2018.ž

Selling, general and administrative expenses for the fourth quarter were $23.9 million, compared to $18.0 million for the fourth quarter of 2018.

The increase was due to restructuring and other one time charges of $11.2 million, partially offset by lower personnel costs.

Selling, general and administrative expenses for the full year were $77.3 million, compared with $60.8 million in 2018.

Net loss for the fourth quarter was $34.4 million, or 0.24 per share, compared to a net loss in the fourth quarter of 2018 of $2.1 million, or $0.01 per share.

Net loss for the full year was $72.2 million or $0.50 per share, compared to $80.3 million or $0.56 per share in 2018.

Cash, cash equivalents and marketable securities were $421.3 million at December 31, 2019, compared to $354.5 million at December 31, 2018.


 

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