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Get filing alertsHalozyme reports 42% Q1 revenue growth, announces $1B buyback program
Filed May 11, 2026 · Period ending May 11, 2026 · ~1 min read
Key Changes
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Q1 2026 revenue reached $376.7M (up 42% YoY), driven by royalty revenue of $240.7M (up 43%), primarily from DARZALEX SC, VYVGART Hytrulo, and Phesgo uptake. Net income was $150.0M vs. $118.1M in Q1 2025.
Exhibit 99.1 view on EDGAR → -
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New $1B share repurchase program authorized through Dec 2028, with at least $400M planned for 2026, reflecting strong cash generation and management confidence in business durability.
Exhibit 99.1 view on EDGAR → -
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Three new collaboration agreements signed: GSK for ENHANZE in oncology/ADCs, Oruka for Hypercon (ORKA-001 plus one target, mid-single digit royalties), and Vertex for Hypercon (three targets, $15M upfront). Royalties expected to begin in 2030s.
Exhibit 99.1 view on EDGAR → -
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2026 guidance reiterated: total revenue $1.71-$1.81B (22-30% growth), royalty revenue $1.13-$1.17B (30-35% growth), adjusted EBITDA $1.13-$1.21B (71-83% growth), non-GAAP EPS $7.75-$8.25 (87-99% growth).
Exhibit 99.1 view on EDGAR → -
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VYVGART Hytrulo received FDA approval for all gMG serotypes (expanding addressable patients), DARZALEX Faspro gained 12th and 13th indications, and Takeda reported positive Phase 2/3 data for TAK-881 in primary immunodeficiency.
Exhibit 99.1 view on EDGAR →
Summary
Halozyme delivered strong first-quarter 2026 results with revenue growth of 42% year-over-year to $376.7 million, driven primarily by a 43% increase in royalty revenue to $240.7 million. The growth reflects continued commercial uptake of partner products using the company's ENHANZE technology, particularly DARZALEX SC, VYVGART Hytrulo, and Phesgo.
Net income rose to $150.0 million from $118.1 million in the prior-year quarter. Management reiterated full-year 2026 guidance projecting 22-30% revenue growth and 87-99% non-GAAP EPS growth, signaling confidence in the business trajectory. The company announced a $1 billion share repurchase program running through December 2028, with plans to buy back at least $400 million in shares during 2026.
This capital allocation decision reflects Halozyme's strong cash generation and management's view of the stock as undervalued relative to the business's long-term prospects. Additionally, three new collaboration agreements were signed with GSK (ENHANZE for oncology/ADCs), Oruka (Hypercon technology), and Vertex (Hypercon), creating new royalty streams expected to begin in the 2030s. Partner product milestones, including VYVGART Hytrulo's expanded FDA approval for all gMG serotypes and DARZALEX Faspro's two new indications, further strengthen the revenue outlook for Halozyme's royalty-generating portfolio.
Section-by-Section Diff
Event · Exhibit 99.1
Halozyme reports Q1 2026 results with 42% revenue growth, reiterates 2026 guidance, and announces $1 billion share repurchase program.
Added in current filing · view on EDGAR →
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 (“ADCs”). Under the terms of the agreement, GSK will make an upfront payment and potential future milestone payments and royalties on net sales of products developed with ENHANZE®.
Halozyme announced three new collaboration agreements in Q1 and early Q2 2026: with GSK for ENHANZE (multiple oncology targets including first ADC application), with Oruka for Hypercon technology (ORKA-001 plus one additional target, with upfront payment and mid-single digit royalties), and with Vertex for Hypercon (three targets, $15 million upfront plus milestones and royalties). These deals create new royalty opportunities beginning in the 2030s.
Added in current filing · view on EDGAR → · paraphrased
Total revenue of $1.710 billion to $1.810 billion, representing growth of 22% to 30% over 2025 total revenue, primarily driven by increases in royalty revenue and product sales from API. Revenue from royalties of $1.130 billion to $1.170 billion, representing growth of 30% to 35% over 2025. Adjusted EBITDA of $1.125 billion to $1.205 billion, representing growth of 71% to 83% over 2025, including new Hypercon™ and Surf Bio investment of approximately $60 million. Non-GAAP diluted earnings per share of $7.75 to $8.25, representing growth of 87% to 99% over 2025.
Halozyme reiterated its full-year 2026 guidance ranges: total revenue of $1.710-$1.810 billion (22-30% growth), royalty revenue of $1.130-$1.170 billion (30-35% growth), adjusted EBITDA of $1.125-$1.205 billion (71-83% growth), and non-GAAP diluted EPS of $7.75-$8.25 (87-99% growth). The guidance includes approximately $60 million in new Hypercon and Surf Bio investment and does not reflect potential future share repurchases.
Added in current filing · view on EDGAR →
In May 2026, argenx announced U.S. Food and Drug Administration (“FDA”) approval of a supplemental Biologics License Application (“sBLA”) for VYVGART® Hytrulo with ENHANZE® for the treatment of adult patients with generalized myasthenia gravis (“gMG”) including all serotypes – anti-AChR-Ab positive, anti-MuSK-Ab positive, anti-LRP4-Ab positive, and triple seronegative.
Multiple partner products using Halozyme's ENHANZE technology achieved regulatory and clinical milestones: VYVGART Hytrulo received FDA approval for all serotypes of gMG (expanding addressable patients), DARZALEX Faspro gained its 12th and 13th approved indications in newly diagnosed and early second line multiple myeloma, and Takeda announced positive Phase 2/3 data for TAK-881 in primary immunodeficiency disease. These developments expand the revenue opportunity for Halozyme's royalty-generating products.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 9, 2026 · How we verify