Form 8-K

8-K — HALOZYME THERAPEUTICS, INC.

Accession: 0001159036-26-000103

Filed: 2026-08-06

Period: 2026-08-06

CIK: 0001159036

SIC: 2836 (BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES))

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — halo-20260806.htm (Primary)

EX-99.1 (ex991q220268-k.htm)

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8-K

8-K (Primary)

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halo-20260806

FALSE000115903600011590362026-08-062026-08-06

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

____________________________________________

FORM 8-K

_____________________________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): August 6, 2026

HALOZYME THERAPEUTICS, INC.

(Exact name of registrant as specified in its charter)

________________________

Commission File Number 001-32335

Delaware 88-0488686

(State or other jurisdiction of incorporation) (I.R.S. Employer Identification No.)

12390 El Camino Real 92130

San Diego (Zip Code)

California

(Address of principal executive offices)

(858) 794-8889

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common Stock, $0.001 par value HALO The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On August 6, 2026, Halozyme Therapeutics, Inc. issued a press release to report its financial results for the second quarter ended June 30, 2026. A copy of the press release is attached as Exhibit 99.1, which is furnished under Item 2.02 of this report and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.

Item 9.01 Financial Statements and Exhibits.

Exhibit No. Description

99.1

Press release dated August 6, 2026

104 Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Halozyme Therapeutics, Inc

(Registrant)

Dated:

August 6, 2026

By:

/s/ Darren Snellgrove

Darren Snellgrove

Executive Vice President, Chief Financial Officer

EX-99.1

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Document

Exhibit 99.1

HALOZYME REPORTS RECORD SECOND QUARTER 2026 RESULTS, BEATS ESTIMATES AND RAISES FULL YEAR 2026 FINANCIAL GUIDANCE

Total Revenue Increased 48% YOY to $481 million

Royalty Revenue Increased 50% YOY to $308 million

Raises 2026 Financial Guidance Ranges:

Total Revenue of $1.835 - $1.910 billion, YOY Growth of 31% - 37%

Royalty Revenue of $1.220 - $1.245 billion, YOY Growth of 41% - 43%

Adjusted EBITDA of $1.225 - $1.280 billion, YOY Growth of 86% - 95%1

Non-GAAP Diluted EPS of $8.65 - $9.00, YOY Growth of 108% - 117%1

Signed Five New ENHANZE® and Hypercon™ Collaboration Agreements YTD 2026, Exceeding Goal of Three for Full Year 2026

SAN DIEGO, August 6, 2026 -- Halozyme Therapeutics, Inc. (Nasdaq: HALO) (“Halozyme” or the “Company”) today reported its financial and operating results for the second quarter ended June 30, 2026, and provided an update on its recent corporate activities.

“We delivered another quarter of strong performance, with multiple proof points demonstrating the attractive features of ENHANZE as a compounding platform engine: repeatability of success, scalability, diversification and durability of revenues,” said Dr. Helen Torley, President and Chief Executive Officer. “Total revenue increased 48% year-over-year to $481 million, royalty revenue increased 50% to $308 million and adjusted EBITDA grew 46% to $329 million, reflecting the strength of our differentiated royalty business. Based on these record results, we are raising our full year 2026 financial guidance.”

“Importantly, we are delivering on both our near-term and long-term growth objectives. The ENHANZE value proposition is attracting new partners and additional products from our current partners. We expanded our royalty revenue opportunity by signing five new ENHANZE and Hypercon collaborations through July, including agreements with Vertex, Oruka, GSK, Incyte and an undisclosed partner who is the first to license ENHANZE for a nucleic acid therapeutic. We have also demonstrated our commitment to returning significant capital to shareholders, repurchasing $333 million of shares in 2Q 2026, at an average price of $69.30. Overall, these results illustrate our continued ability to create multiple waves of revenue opportunities that will drive long-term shareholder value,” concluded Dr. Torley.

Second Quarter Corporate Highlight:

•In May 2026, the Company announced a new share repurchase program to repurchase up to $1.0 billion of its outstanding common stock by December 31, 2028, with an expectation of buying back at least $400 million of shares in 2026. During the second quarter of 2026, the Company repurchased 4.8 million shares for $332.8 million at an average price of $69.30 per

share under the May 2026 and February 2024 share repurchase programs. The February 2024 share repurchase program was completed in June 2026.

Recent Partner Highlights:

•In July 2026, Halozyme and Incyte entered into a global collaboration and license agreement to evaluate additional subcutaneous formulations of INCA033989, a first-in-class mutant calreticulin (“mutCALR”)-targeted monoclonal antibody, in patients with mutCALR-expressing myeloproliferative neoplasms (“MPNs”), utilizing Halozyme’s proprietary ENHANZE® drug delivery technology. Under the collaboration, Incyte also has the option to nominate up to two additional targets for use with ENHANZE®. Under the terms of the agreement, Incyte agreed to make an upfront payment and potential future milestone payments and royalties on net sales of products developed with ENHANZE®.

•In the third quarter of 2026, the ongoing ARGX-119 adimanebart program was expanded to include a Phase 1 SC bioavailability study with ENHANZE®.

Second Quarter Partner Highlights:

•In May 2026, Halozyme and an undisclosed company entered into a global collaboration and license agreement that provides the company access to ENHANZE® to develop a nucleic acid therapeutic.

•In May 2026, Janssen announced pivotal results from the Phase 1b/2 OrigAMI-4 study showing that subcutaneous amivantamab and hyaluronidase-lpuj delivered durable responses in patients with advanced head and neck squamous cell carcinoma previously treated with immunotherapy and chemotherapy and submitted a supplemental Biologics License Application (“sBLA”) to the U.S. Food and Drug Administration (“FDA”).

•In May 2026, Viatris initiated a Phase 1 study to evaluate the pharmacokinetics, pharmacodynamics, and tolerability of a single dose of selatogrel in Chinese adults with chronic coronary syndrome.

•In May 2026, argenx announced FDA approval of a sBLA for VYVGART® Hytrulo with ENHANZE® for the treatment of adult patients with generalized myasthenia gravis including all serotypes – anti-AChR-Ab positive, anti-MuSK-Ab positive, anti-LRP4-Ab positive, and triple seronegative.

•In May 2026, Halozyme and GSK plc (“GSK”) entered into a global collaboration and license agreement for ENHANZE® with multiple oncology targets, including the first potential application in antibody-drug conjugates. Under the terms of the agreement, GSK made an upfront payment and agreed to make potential future milestone payments and royalties on net sales of products developed with ENHANZE®.

•In May 2026, Halozyme and Oruka Therapeutics, Inc. (“Oruka”) entered into a global exclusive collaboration and license agreement for Halozyme’s Hypercon™ technology for use with ORKA-001, in development for psoriasis and related inflammatory diseases and one additional target. Under the terms of the agreement, Oruka made an upfront payment and agreed to make potential future milestone payments and mid-single digit royalties on net sales of products developed using the Hypercon™ technology.

•In May 2026, Takeda announced positive topline results from its pivotal Phase 2/3 trial of TAK-881 with ENHANZE® in Primary Immunodeficiency Disease.

•In April 2026, Halozyme and Vertex Pharmaceuticals Incorporated (“Vertex”) entered into a global exclusive collaboration and license agreement that provides Vertex access to Halozyme’s Hypercon™ technology for use in up to three targets. Under the terms of the agreement, Vertex made a $15 million upfront payment and agreed to make potential future milestone payments and royalties on net sales of products developed using the Hypercon™ technology.

Second Quarter 2026 Financial Highlights:

•Total revenue was $481.0 million, compared to $325.7 million in the second quarter of 2025. The 48% year-over-year increase was primarily driven by royalty revenue growth and an increase in product sales. Revenue included $307.7 million in royalties, an increase of 50% compared to $205.6 million in the second quarter of 2025, primarily driven by continued sales uptake of ENHANZE® partner products that have launched since 2020, predominantly by VYVGART® Hytrulo by argenx and DARZALEX® SC Janssen in all geographies and contributions from other recently launched products.

•Cost of sales was $79.2 million, compared to $46.4 million in the second quarter of 2025. The increase in cost of sales was primarily due to an increase in bulk rHuPH20 sales.

•Amortization of intangibles expense was $29.5 million, compared to $17.8 million in the second quarter of 2025. The increase in amortization of intangibles expense was due to the acquisition of Elektrofi, Inc. (“Elektrofi”) in November 2025.

•Research and development expense was $27.7 million, compared to $17.5 million in the second quarter of 2025. The increase was primarily due to the acquisition of Elektrofi and Surf Bio, Inc. (“Surf Bio”) in the fourth quarter of 2025.

•Selling, general and administrative expense was $57.0 million, compared to $41.6 million in the second quarter of 2025. The increase was primarily due to an increase in consulting and professional service fees, including litigation costs incurred in connection with patent infringement litigation, the acquisition of Elektrofi and Surf Bio, and an increase in compensation expense.

•Operating income was $287.7 million, compared to $202.4 million in the second quarter of 2025.

•Net income was $229.9 million, compared to $165.2 million in the second quarter of 2025.

•EBITDA was $321.9 million, compared to $222.9 million in the second quarter of 2025. Adjusted EBITDA was $328.8 million, compared to $225.5 million in the second quarter of 2025.1

•GAAP diluted earnings per share was $1.90, compared to $1.33 in the second quarter of 2025. Non-GAAP diluted earnings per share was $2.28, compared to $1.54 in the second quarter of 2025.1

•Cash, cash equivalents, restricted cash and marketable securities were $231.9 million on June 30, 2026, compared to $145.4 million on December 31, 2025. The increase was primarily driven by cash generated from operations.

Financial Outlook for 2026

The Company is raising its 2026 financial guidance ranges, which were last provided on May 11, 2026.

For the full year 2026, the Company expects:

•Total revenue of $1.835 billion to $1.910 billion, representing growth of 31% to 37% over 2025 total revenue, primarily driven by increases in royalty revenue and product sales from API.

•Revenue from royalties of $1.220 billion to $1.245 billion, representing growth of 41% to 43% over 2025.

•Adjusted EBITDA of $1.225 billion to $1.280 billion, representing growth of 86% to 95% over 2025, including new Hypercon™ and Surf Bio investments of approximately $60 million.

•Non-GAAP diluted earnings per share of $8.65 to $9.00, representing growth of 108% to 117% over 2025. The Company’s earnings per share guidance includes new Hypercon™ and Surf

Bio investments of approximately $60 million and does not consider the impact of potential future share repurchases.

Table 1. 2026 Financial Guidance

Previous Guidance Range New Guidance Range

Total Revenue $1.710 to $1.810 billion $1.835 to $1.910 billion

Royalty Revenue $1.130 to $1.170 billion $1.220 to $1.245 billion

Adjusted EBITDA1

$1.125 to $1.205 billion $1.225 to $1.280 billion

Non-GAAP Diluted EPS1

$7.75 to $8.25 $8.65 to $9.00

1 EBITDA, Adjusted EBITDA and Non-GAAP Diluted EPS are Non-GAAP financial measures. See “Note Regarding Use of Non-GAAP Financial Measures” below for an explanation of these measures. Reconciliations between GAAP reported and Non-GAAP financial information for actual results are provided at the end of this earnings release.

Webcast and Conference Call

Halozyme will host its Quarterly Update Conference Call for the second quarter ended June 30, 2026 today, Thursday, August 6, 2026, at 1:30 p.m. PT/4:30 p.m. ET. The conference call may be accessed live with pre-registration via link: https://events.q4inc.com/analyst/838122249?pwd=X5tkHKi. The call will also be webcast live through the “Investors” section of Halozyme’s corporate website and a recording will be made available following the close of the call. To access the webcast and additional documents related to the call, please visit Halozyme.com.

About Halozyme

Halozyme is a biopharmaceutical company advancing disruptive solutions to improve patient experiences and outcomes for emerging and established therapies. As the innovators of ENHANZE® drug delivery technology with the proprietary enzyme rHuPH20, Halozyme’s commercially-validated solution facilitates the subcutaneous delivery of injected drugs and fluids, reducing treatment burden and improving convenience. ENHANZE® has touched more than one million patient lives through ten commercialized products across over 100 global markets and is licensed to leading pharmaceutical and biotechnology companies including Roche, Takeda, Pfizer, Janssen, AbbVie, Eli Lilly, Bristol-Myers Squibb, argenx, ViiV Healthcare, Chugai Pharmaceutical, Acumen Pharmaceuticals, Merus N.V., Skye Bioscience, GSK and Incyte.

Halozyme expanded its drug delivery technology portfolio to develop partner products using Hypercon™ and Surf Bio’s hyperconcentration technology. Hypercon™ is an innovative microparticle technology expected to set a new standard in hyperconcentration of drugs and biologics by reducing injection volume for the same dosage and enabling administration in at-home and healthcare-provider settings. The addition of Surf Bio’s polymer-based hyperconcentration technology further broadens the range of biologics that can be delivered subcutaneously, meaningfully expanding the scope of opportunities across therapeutic modalities. Together, Hypercon™ and Surf Bio’s technology complement ENHANZE® by enabling creation and delivery of highly concentrated biologics. The Hypercon™ technology has been licensed to leading biopharmaceutical partners, including Janssen, Eli Lilly, argenx, Vertex Pharmaceuticals, and Oruka Therapeutics.

Halozyme also develops, manufactures and commercializes drug-device combination products using advanced auto-injector technologies designed to improve convenience, reliability and tolerability, enhancing patient comfort and adherence. The Company has two proprietary commercial products, Hylenex® and XYOSTED®, partnered commercial products and ongoing development programs with Teva Pharmaceuticals and McDermott Laboratories Limited, an affiliate of Viatris Inc.

Halozyme is headquartered in San Diego, CA, with offices in Ewing, NJ; Minnetonka, MN; and Boston, MA. Minnetonka is also the site of its operations facility.

For more information, visit www.halozyme.com and connect with us on LinkedIn.

Note Regarding Use of Non-GAAP Financial Measures

In addition to disclosing financial measures prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), this press release and the accompanying tables contain certain Non-GAAP financial measures. The Company reports earnings before interest, taxes, depreciation, and amortization (“EBITDA”), adjusted EBITDA, Non-GAAP diluted earnings per share, Non-GAAP diluted shares, and guidance with respect to those measures, in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. The Company calculates Non-GAAP diluted earnings per share excluding share-based compensation expense, amortization of debt discounts, intangible asset amortization, one-time items, if any, such as changes in contingent liabilities, inventory adjustments, impairment charges, transaction costs for business combinations and share-based compensation acceleration expenses, intellectual property litigation costs, inducement expenses related to convertible notes, and certain adjustments to income tax expense. The Company calculates Non-GAAP diluted shares excluding the dilutive impact of convertible notes which is used in calculating Non-GAAP diluted earnings per share. The Company calculates EBITDA excluding interest, taxes, depreciation and amortization. The Company calculates adjusted EBITDA excluding one-time items, if any, such as changes in contingent liabilities, inventory adjustments, impairment charges, transaction costs for business combinations and share-based compensation acceleration expenses and intellectual property litigation costs. Reconciliations between GAAP and Non-GAAP financial measures are included at the end of this press release. The Company does not provide reconciliations for forward-looking adjusted measures to GAAP due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation, including adjustments that could be made for changes in share-based compensation expense and the effects of any discrete income tax items. For the same reasons, the Company is unable to address the probable significance of the unavailable information. The Company provides Non-GAAP financial measures that it believes will be achieved; however, it cannot accurately predict all of the components of the adjusted calculations and the GAAP measures may be materially different than the Non-GAAP measures.

The Company evaluates other items of income and expense on an individual basis for potential inclusion in the calculation of Non-GAAP financial measures and considers both the quantitative and qualitative aspects of the item, including (i) its size and nature, (ii) whether or not it relates to the Company’s ongoing business operations and (iii) whether or not the Company expects it to occur as part of the Company’s normal business on a regular basis. Non-GAAP financial measures do not have any standardized meaning and are therefore unlikely to be comparable to similarly titled measures presented by other companies. These Non-GAAP financial measures are not meant to be considered in isolation and should be read in conjunction with the Company’s consolidated financial statements prepared in accordance with GAAP, and are not prepared under any comprehensive set of accounting rules or principles. In addition, from time to time in the future there may be other items that the Company may exclude for purposes of its Non-GAAP financial measures, and the Company may in the future cease to exclude items that it has historically excluded for purposes of its Non-GAAP financial measures.

The Company considers these Non-GAAP financial measures to be important because they provide useful measures of the operating performance of the Company, exclusive of factors that do not directly affect what the Company considers to be its core operating performance, as well as unusual events. The Non-GAAP measures also allow investors and analysts to make additional comparisons of the operating activities of the Company’s core business over time and with respect to other companies, as well as assessing trends and future expectations. The Company uses Non-GAAP financial information in assessing what it believes is a meaningful and comparable set of financial performance measures to evaluate operating trends, as well as in establishing portions of our performance-based incentive compensation programs.

Safe Harbor Statement

In addition to historical information, the statements set forth in this press release include forward-looking statements including, without limitation, statements concerning the Company’s financial performance (including the Company’s expected financial outlook for 2026) and expectations for future growth, profitability, revenue durability, total revenue, royalty revenue, royalty revenue duration, EBITDA, Adjusted EBITDA, and non-GAAP diluted earnings-per-share, and shareholder value and potential future share repurchases. These forward-looking statements also include statements regarding the Company’s potential receipt of upfront payments and payments associated with achievement of certain development, regulatory and sales-based milestones, and royalties on sales of commercialized products from recent collaboration agreements. Forward-looking statements regarding the Company’s ENHANZE® drug delivery technology may include the possible benefits and attributes of ENHANZE®, its potential application to aid in the dispersion and absorption of other injected therapeutic drugs and facilitating more rapid delivery and administration of higher volumes of injectable medications through subcutaneous delivery including its potential application with antibody drug conjugates. Forward-looking statements regarding the Company’s Hypercon™ and Surf Bio technologies include the possible benefits and attributes of these technologies, including the potential to reduce injection volume for the same dosage of drugs and biologics and possibly enabling administration in at‑home and healthcare‑provider settings and statements concerning certain other potential benefits of these technologies including facilitating administration of injectable medications through subcutaneous delivery by enabling creation and delivery of highly concentrated biologics and potentially lowering the treatment burden, easing treatment access and improving the treatment experience for patients. Forward-looking statements regarding the Company’s business may include potential growth and receipt of royalty and milestone payments driven by our partners’ development and commercialization efforts, potential new clinical trial study starts and advancement of partnered development programs, regulatory submissions and product launches, the size and growth prospects of our partners’ drug franchises, potential new or expanded collaborations and collaborative targets, and potential approvals of new partnered or proprietary products, and the potential timing of these events. These forward-looking statements are typically, but not always, identified through use of the words “expect,” “believe,” “enable,” “may,” “will,” “could,” “intends,” “estimate,” “anticipate,” “plan,” “predict,” “probable,” “potential,” “preliminary,” “possible,” “should,” “continue,” and other words of similar meaning and involve risk and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Actual results could differ materially from the expectations contained in these forward-looking statements as a result of several factors, including uncertainties concerning future matters such as unexpected results or delays in the Company’s repurchases of the Company’s shares under the share repurchase program, market conditions, changes in domestic and foreign business, changes in the competitive environment in which the Company operates, unexpected early expiration or termination of the patent terms for the Company’s drug delivery technologies, unexpected levels of revenues, expenditures and costs, unexpected results or delays in the growth of the Company’s business, or in the development, regulatory review or commercialization of the Company’s partnered or proprietary products, regulatory approval requirements, unexpected adverse events or patient outcomes and competitive conditions. These and other factors that may result in differences are discussed in greater detail in the Company’s most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission, including under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations”. Except as required by law, the Company undertakes no duty to update forward-looking statements to reflect events after the date of this release.

Contacts:

Tram Bui

VP, Investor Relations and Corporate Communications

609-333-7668

tbui@halozyme.com

Sydney Charlton

Teneo

917-972-8407

sydney.charlton@teneo.com

Halozyme Therapeutics, Inc.

Condensed Consolidated Statements of Operations

(Unaudited)

(In thousands, except per share amounts)

Three Months Ended Six Months Ended

June 30, June 30,

2026 2025 2026 2025

Revenues

Royalties $ 307,699 $ 205,639 $ 548,380 $ 373,831

Product sales, net 129,626 81,510 260,050 159,551

Revenues under collaborative agreements 43,674 38,570 49,277 57,198

Total revenues 480,999 325,719 857,707 590,580

Operating expenses

Cost of sales 79,171 46,359 158,409 94,762

Amortization of intangibles 29,512 17,762 59,024 35,524

Research and development 27,664 17,543 53,224 32,342

Selling, general and administrative 56,998 41,614 114,879 83,976

Total operating expenses 193,345 123,278 385,536 246,604

Operating income

287,654 202,441 472,171 343,976

Other income (expense)

Investment and other income, net 2,836 6,891 4,154 13,709

Interest expense (5,588) (4,394) (11,096) (8,919)

Income before income tax expense

284,902 204,938 465,229 348,766

Income tax expense 54,989 39,778 85,267 65,511

Net income

$ 229,913 $ 165,160 $ 379,962 $ 283,255

Earnings per share

Basic $ 1.96 $ 1.36 $ 3.23 $ 2.32

Diluted $ 1.90 $ 1.33 $ 3.11 $ 2.26

Weighted average common shares outstanding

Basic 117,274 121,343 117,707 122,274

Diluted 121,215 124,158 122,092 125,452

Halozyme Therapeutics, Inc.

Condensed Consolidated Balance Sheets

(Unaudited)

(In thousands)

June 30,

2026 December 31,

2025

ASSETS

Current assets

Cash and cash equivalents $ 163,138 $ 133,820

Marketable securities, available-for-sale 67,865 9,000

Accounts receivable, net and contract assets 455,827 441,273

Inventories 137,135 176,475

Prepaid expenses and other current assets 109,059 64,639

Total current assets 933,024 825,207

Property and equipment, net 84,271 82,137

Prepaid expenses and other assets 55,090 53,551

Goodwill 581,732 580,360

Intangible assets, net 922,443 981,467

Restricted cash 848 2,601

Total assets $ 2,577,408 $ 2,525,323

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities

Accounts payable $ 23,608 $ 20,899

Accrued expenses 111,861 156,193

Current portion of long-term debt, net 208,970 —

Total current liabilities 344,439 177,092

Long-term debt, net 1,937,684 2,142,630

Other long-term liabilities 102,681 113,863

Deferred tax liabilities, net 49,061 42,924

Total liabilities 2,433,865 2,476,509

Stockholders’ equity

Common stock 114 118

Additional paid-in capital — 12,002

Accumulated other comprehensive loss (7,830) (18,092)

Retained earnings 151,259 54,786

Total stockholders’ equity 143,543 48,814

Total liabilities and stockholders’ equity $ 2,577,408 $ 2,525,323

Halozyme Therapeutics, Inc.

GAAP to Non-GAAP Reconciliations

EBITDA

(Unaudited)

(In thousands)

Three Months Ended

June 30,

2026 2025

GAAP Net Income

$ 229,913 $ 165,160

Adjustments

Investment and other income, net (2,581) (6,891)

Interest expense 5,588 4,394

Income tax expense 54,989 39,778

Depreciation and amortization 33,967 20,502

EBITDA 321,876 222,943

Adjustments

Intellectual property litigation costs(1)

6,936 2,561

Adjusted EBITDA $ 328,812 $ 225,504

(1)Adjustment relates to litigation costs incurred by Halozyme in connection with Halozyme’s patent infringement litigation against Merck Sharp & Dohme LLC (“Merck”). These charges are excluded because the Company does not believe they are reflective of the Company’s ongoing business and operating results.

Halozyme Therapeutics, Inc.

GAAP to Non-GAAP Reconciliations

Net Income and Diluted EPS

(Unaudited)

(In thousands, except per share amounts)

Three Months Ended

June 30,

2026 2025

GAAP Net Income

$ 229,913 $ 165,160

Adjustments

Share-based compensation 17,698 12,161

Amortization of debt discount 2,253 1,852

Amortization of intangible assets 29,512 17,762

Intellectual property litigation costs(1)

6,936 2,561

Income tax effect of above adjustments(2)

(13,677) (8,158)

Non-GAAP Net Income

$ 272,635 $ 191,338

GAAP Diluted EPS

$ 1.90 $ 1.33

Adjustments

Share-based compensation 0.15 0.10

Amortization of debt discount 0.02 0.01

Amortization of intangible assets 0.25 0.14

Intellectual property litigation costs(1)

0.06 0.02

Income tax effect of above adjustments(2)

(0.11) (0.07)

Non-GAAP Diluted EPS

$ 2.28 $ 1.54

GAAP Diluted Shares 121,215 124,158

Adjustments

Adjustment for dilutive impact of 2028 Convertible Senior Notes(3)

(1,497) (199)

Non-GAAP Diluted Shares 119,718 123,959

Dollar amounts, as presented, are rounded. Consequently, totals may not add up.

(1)Adjustment relates to litigation costs incurred by Halozyme in connection with Halozyme’s patent infringement litigation against Merck. These charges are excluded because the Company does not believe they are reflective of the Company’s ongoing business and operating results.

(2)Adjustments relate to taxes for the reconciling items, as well as excess benefits or tax deficiencies from share-based compensation, and the quarterly impact of other discrete items.

(3)Adjustment made for the dilutive effect of our Convertible Senior Notes due 2028 when the effect is not the same on a GAAP and Non-GAAP basis for the reporting period.

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v3.26.1

Cover Page

Aug. 06, 2026

Cover [Abstract]

Document Type

8-K

Document Period End Date

Aug. 06, 2026

Entity Registrant Name

HALOZYME THERAPEUTICS, INC.

Entity File Number

001-32335

Entity Incorporation, State or Country Code

Entity Tax Identification Number

88-0488686

Entity Address, Address Line One

12390 El Camino Real

Entity Address, City or Town

San Diego

Entity Address, State or Province

Entity Address, Postal Zip Code

92130

City Area Code

858

Local Phone Number

794-8889

Written Communications

false

Soliciting Material

false

Pre-commencement Tender Offer

false

Pre-commencement Issuer Tender Offer

false

Title of 12(b) Security

Common Stock, $0.001 par value

Trading Symbol

HALO

Security Exchange Name

NASDAQ

Entity Emerging Growth Company

false

Amendment Flag

false

Entity Central Index Key

0001159036

- Definition

Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.

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No definition available.

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Area code of city

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Cover page.

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No definition available.

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For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

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- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

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No definition available.

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Address Line 1 such as Attn, Building Name, Street Name

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Name of the City or Town

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Code for the postal or zip code

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Name of the state or province.

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- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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- Definition

Indicate if registrant meets the emerging growth company criteria.

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- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

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No definition available.

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Two-character EDGAR code representing the state or country of incorporation.

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The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

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Local phone number for entity.

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

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-Section 13e

-Subsection 4c

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

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-Section 14d

-Subsection 2b

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- Definition

Title of a 12(b) registered security.

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-Section 12

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Name of the Exchange on which a security is registered.

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-Section 12

-Subsection d1-1

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

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-Section 14a

-Subsection 12

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Trading symbol of an instrument as listed on an exchange.

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

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-Section 425

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