Halozyme Therapeutics Incorporated (HALO) Quote

Great research! Thank you and nicely done

Been following it it since posting on it way back. Accumulating, so not saying anything.....😗......

Article points out the future, and it is reduction and concentration. Which as pointed out in the Elektron patent filings posted earlier, hyaluronidase will still be required for injection, and best way to do that is with a HALO AI.

Section 1.3 and 1.4 presents some methods being tried, as you noted.

Table 1.4 shows preclinical trial of Trastuzumab, rituximab using the Elektrofi/Hypercon method.

Looks like a match in the makings.......Like the Foundation Trilogy...oh the web they make.

More like ALL TIME HIGH !!!!
What a great month.

hello guys!
am korean investor, invested in halo and alteogen about 5years ago

you guys know s.korea's alteogen right?
IV to SC conversion is humans future!

have a good day guys

That's a good summary, thanks. I've been thinking of dipping a toe in but I want to listen to the last call before I do and haven't yet had the time to devote to it.
And, don't worry about forgetting stuff; as long as you can still find your way home at the end of the day, you're ok! LOL!

I don't have an educated opinion. Obviously, the market thinks it's a long shot. I think their biggest problem is that their phase 2/3 study has a 2031/01 estimated completion date and they estimate they will enroll 2040 patients. So they have ways to go.

Still, I bought some shares for several reasons (in no particular order):

1. I like to follow the companies Halo partners with;
2. At $2.91, its current price, the company has a market cap of about $175M. As of Jun 30, 2024 they had $281M of cash, which should support their activities into the first half of 2027. It's reasonable to expect they will release interim results sooner. There have been opportunities to buy the stock as low as $1.81. It's a very high risk but potentially high reward stock;
3. RA Capital, a good life sciences fund, has bought shares at much higher prices and has not sold;
4. I recently discovered I have the ApoE gene. Actually, it's worse. My wife reminded me that we already knew that from the 23andMe test some time ago and I forgot!

HALO new 52 Week high

Speaking of ABOS, what do you think of their chances for success in the Alzheimers space?

That might have been the rationale behind the deal with ABOS. I guess the downside is that the terms won’t be as good and it makes sense only if you are able to sign more deals.

There seems to be quite a bit of competition brewing: Alteogen’s deal with Merck, Elektrofi’s partnerships with Janssen and Lilly, hydrogel technology, etc.

Due to the convention of exclusivity, numerous mAbs, including biosimilars, are not available in association with this technology, triggering the need for alternative options.

HALO might have to rethink this approach to future deals.

Interesting articles. Thank you. But why do you say "...certainly feeds the idea that Elekrofi would be of interest to HALO..."?

Three of the authors of the first article co-founded Recobia Therapeutics, a potential competitor for Halo. They are not a clinical stage company yet, though.

"Currently, one clinical solution to address these issues is co-formulating the mAbs with the rHuPH20 drug delivery technology developed by Halozyme. This technology temporarily reduces tissue backpressure in SC tissue, allowing for increased injection volumes, improved pharmacokinetics profiles, and increased bioavailability of co-administered compounds. This solution remains the only one registered for clinical routine use. Due to the convention of exclusivity, numerous mAbs, including biosimilars, are not available in association with this technology, triggering the need for alternative options. Regarding the enzymatic approach, the window of activity through depolymerization of hyaluronic acid, which enables a local space, is limited and restricts the possibility of prolonged release. On the other hand, hydrogel technology offers a tunable formulation, supporting the development of a delayed administration strategy between two injections, appearing as an appealing option."

"Conflict of Interest
Detappe and Pivot have a patent in the field of hydrogels for subcutaneous administration of mAbs. Detappe, Boudali, and Pivot are co-founder of Recobia Therapeutics which seeks to translate the hydrogel formulation to the clinic."

https://recobiatx.com

https://finance.yahoo.com/news/halozyme-earnings-guidance-point-bullish-190349933.html

Have a well deserved perfect weekend, Helen!!
From your biggest fan.

Final Trade: LULU, VIK, HALO, CCJ https://www.cnbc.com/video/2024/08/23/final-trade-lulu-vik-halo-ccj.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard

Found it. It was last call on Fast Money Carter said much “more to come”

Which CNBC show? Thanks for sharing

HALO noted as a buy on CNBC-TV, by one of usual expert panel on at 5:55-6 pm.

I think Helen & HALO are doing JUST FINE !!
Thank you for all your hard work through the years & recently .

This is good news. They added $2B to their estimates. From JPM:

"Argenx
PT raised to €570, on higher Vyvgart ests. and adding empa. Expect outperformance as Vyvgart beats consensus in 2025, driven by CIDP uptake

By James D Gordon AC, Richard Vosser, Zain Ebrahim, John Priestner, Sophia Graeff Buhl Nielsen
Click here for the full document and disclaimers

Raising Dec-25 PT 20% to €570 (prev. Jun-25 €470), reiterate OW. We see Vyvgart beating cons. expectations in 2025, driven by CIDP launch, and we also see teens profitability delivered in 2025. We update for: (1.) strong Q2 results (first take here); (2.) Vyvgart CIDP approval / better pricing (note here); and (3.) recent R&D event, incl. empa PII data/dev plans (takeaways here). We raise Vyvgart MG peak sales from $3bn to $4bn, raise Vyvgart CIDP peak from $3bn to $4bn, and add in 50% POS of empa at c.$1bn peak in MMN. Our NPV per share is increased c.20%, to c.€570. Our updated Revenue forecasts are now broadly inline with BBG cons. for 2024, 13% ahead in 2025, and we see further share price outperformance driven by Vyvgart upgrades, as a result of a strong CIDP launch next year. We also see the company delivering ‘25 Operating profitability (JPMe $525m vs. cons. $361m). On near-term newsflow, we expect competitor Amgen’s* Uplinza PIII MG trial to have positive data at AANEM (Oct 15-18), but we expect most use to be post Vyvgart, and hence not a significant threat. We also see potential upside should Argenx’s Vyvgart Myositis PII trial progress to PIII by year end. Overall, with further Vyvgart upgrades to come in 2025, along with the company reaching strong operating profitability, we expect continued outperformance, and we reiterate our OW.

That is indeed interesting.

Thanks for sharing. From your first link, I learned something new. Apparently, Halozyme has a partnership with Merk that we did not know about. From Table 1 in the article:

Merck KGa
rHuPH20

(Enhanze, Halozyme)

Erbitux

(cetuximab)

Pre-clinical

Hmmm.......articles interested me......

Maybe this info would be of more interest to some....since the problem has been been mentioned here a few times, this is definitely worth a read..........

"What does it take to be an “active ingredient”? "

"CJEU called upon to rule on Articles 1(b) and 3(a) for Halozyme’s SPC application for Herceptin SC (C-456/24)"

"Europe’s highest court has been asked new questions to clarify which components of a medicinal product are SPC-eligible active ingredients. The answers from the CJEU may illuminate how Europe’s other pharmaceutical regulations impact SPC law.
"

Chart would agree that a pause is nigh.

No new patent application postings today, a few new acquired patents posted on Tuesday.

Two recent articles on SC and rhuph20 worth skimming thru.....certainly feeds the idea that Elektrofi would be of interest to HALO.....

"Landscape of Subcutaneous Administration Strategies for Monoclonal Antibodies in Oncology"

https://onlinelibrary.wiley.com/doi/10.1002/adma.202406604

"Hyaluronidase Drug Delivery Systems — the Synthesis and Application. Review"

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4925369

That’s not what typically happens. Usually the analysts recognize that they have underestimated the value and raise their price target to keep up.

Anyone who has been in the market for long enough has seen this pattern.

According to yahoo finance, the average analyst PT is $59.89, so another concern I have is that if there isn't some kind of positive development behind this move, we may get some downgrades. For instance, JPM is "overweight" with a Dec 25 $52 PT. It's not like they are not aware of their upcoming catalysts, halo's fundamentals, CAGR, PE, etc.

permabear...good one!

… oops I think I posted a little too early. Looks like at least one permabear has not capitulates. Thanks for your post, Maumur.

Maybe, we ate not done after all.

I wonder if we are approaching a temporary top or a pause in this uptrend.

The only reason I say this is that there are signs of capitulation in some of the halo permabears on this board and elsewhere.

One of the most adamant permabears (Easycomeandgo) has left the board and others are posting about holding until the end of the year!

I haven't sold any shares but I have way too much so I am kind of forced to start selling in a way at some point. If I had more confidence in management, I might hold longer. But there have been too many warning signs and I think it makes sense to sell at least a portion of your shares if there is no new deal or some type of unexpected good news in the next few months. If the US patent extension is granted, that may give us a little more time.

In spite of the rally, we are just a few dollars above where we were in November 2022. And if you consider how much inflation we've had... Also, one should take into account opportunity cost. There have been tremendous opportunities in biotech and the market in general in the past two years.

Thanks for sharing.

What are your thoughts?

It makes sense.

Holding until end of year. If no deals by then then I'll probably exit.

Holding or selling?

Thank you biotechinvestor...GREAT info !

Top US small cap fund manager Leo Harmon holds Halozyme shares in the Mesirow Small Company Fund that he runs with Kathryn Vorisek. As at the end of June, the position represents their third-largest holding. These two investors are among 18 of the world’s best-performing fund managers that have bought Halozyme shares – each of them among the top 3pc of the more than 10,000 equity managers whose performance and investments are tracked by financial publisher Citywire.

The conviction of these investors has led Halozyme to be given a top AAA Elite Companies rating by Citywire, which rates companies based on their ownership by the world’s smartest professional investors.

“What we really like about this company is the fact that it’s a loyalty company,” Harmon said. By that he’s referring to its deep-rooted relationships with multiple pharma partners, some of which seek approval to use Enhanze technology with several treatments, removing the need for a blockbuster or single wonder drug to make the investment pay off.

“They have multiple opportunities in various types of compounds where they can transition their underlying technology into several different drugs and collect royalties from their large pharma partners,” he said.

The company could be on course to receive between $1bn and $1.5bn in royalty revenues over the next five years purely due to the growth of the overall market, Harmon said.”

https://finance.yahoo.com/news/questor-biotech-firm-profiting-overlooked-190000187.html

You two have been saying this when we were in teens, 20’a and 30’s. You were wrong then and are fundamentally wrong now.

You forget that we have a terrific CAGR between now and 2029 without even a single new deal. Wave 3 and 4 (already signed deals but not approved products) will have a bigger total market than wave one and 2 did.

Anyone reviewing the data will know that this stock is undervalued based on the EPS growth that is already de-risked and even without a single new deal.

Of course new deals will be welcomed and are around the corner but they are not necessary for halo to continue to appreciate in share price.

That sums it up exactly. Failure to grasp this oncoming cliff is just whistling past the graveyard.

Halo is still getting about 75% of its royalties from Darzalex FasPro. According to Helen's projections, revenue growth and royalty growth slow down from 29% (royalties) and 20% (revenue) in 2027 to 5% for both in 2028. Without the EU patent extension, of course the slowdown would have been worse. If granted, the US patent extension will help until 2029 but there is no way the stock can double or appreciate significantly in the next few years without addressing the uncertainty about growth beyond 2029. The analysts at Goldman Sachs, Leerink and JPM may have been too conservative but they are not complete idiots and they have done their homework. The only way out is new deals or a significant acquisition.

I am shocked that Helen and the board are not addressing this more forcefully and with more of a sense of urgency. The deals that are bearing fruit now were signed a long, long time ago! The least they could do is stop the stock buybacks and boost their cash reserves. The longer we go without new deals, the more crucial a transformative acquisition will be.

Agreed with everything other than this rally being “technically” driven.

It’s pure fundamentals!

Nothing ever goes up in a straight line without little pull backs. I for one, would welcome an opportunity to buy more on a dip.

The key is to enjoy bargain buying just as much if not more than watching your portfolio grow.

The catalyst and reasons why halo is still great value are all still intact.

Halozyme opened up a handful of positions, including an executive director of M&A and integration. The stock is looking like it’s about to pop to new levels, especially if there is some significant news coming.

I think we just hit an all time intra-day high.

Enhanz is going to hit some competitive pressure one way or another. A company that's a one trick pony is always vulnerable to that.
One way to fend it off is to aggressively create new partnerships across a wide range of companies. Helen has failed in that mission, despite her endless delightedness. One thing I've learned through real life experience is never trust a CEO. They will lie to you right to your face. Words don't count. Only deals.

Agreed!

I don’t think you really get what I’m saying.

1. I’m very happy when the stock goes up. I bought 18 years ago at 3 and it’s catching fire finally. If Helen is as good as I think she is. (Certain people on this board have been very negative on her in the last few months) this stock can go to 150.
2. I’ve listened to every call since I’ve owned the stock. Results are great but predicting flat q3 so unless deals get done people won’t get excited.
3. This rally has been technically driven. It looks like a possibility of all time high tomorrow so let’s hope for that. Fundamentals are well known and the reason I called for trading in a range is because the market needs to see if the Antares deal is bearing fruit. This will define Helen in the future.
4. I’ve always said buybacks were a good way to deploy excess cash. This is part of the reason the stock is much higher.
5. If you go way back I’ve always said Enhanze is the future of the company. That’s when everyone was so high on Pegph20.
6. I knew Helen was good when pegph20 failed and she repositioned the company that same day. I’m pretty sure she inherited a bad deal and was forced to go forward to failure but she was ready.
7. Bottom line is I’m here until I see a major change in momentum of Enhanze and that’s a long way away if ever.
8. Meanwhile Halo is a leader in the industry and that’s hard to top. I’ve always said cash flow is king and Halo has a lot of it. Cash flow is 33% higher per year than the sock price was 18 years ago.hard to beat that.

Those are a big part of the reason I’m still hanging around. Now if Roaring Kitty could just come around I might exit sooner.

I don’t think you really get what I’m saying.

1. I’m very happy when the stock goes up. I bought 18 years ago at 3 and it’s catching fire finally. If Helen is as good as I think she is. (Certain people on this board have been very negative on her in the last few months) this stock can go to 150.
2. I’ve listened to every call since I’ve owned the stock. Results are great but predicting flat q3 so unless deals get done people won’t get excited.
3. This rally has been technically driven. It looks like a possibility of all time high tomorrow so let’s hope for that. Fundamentals are well known and the reason I called for trading in a range is because the market needs to see if the Antares deal is bearing fruit. This will define Helen in the future.
4. I’ve always said buybacks were a good way to deploy excess cash. This is part of the reason the stock is much higher.
5. If you go way back I’ve always said Enhanze is the future of the company. That’s when everyone was so high on Pegph20.
6. I knew Helen was good when pegph20 failed and she repositioned the company that same day. I’m pretty sure she inherited a bad deal and was forced to go forward to failure but she was ready.
7. Bottom line is I’m here until I see a major change in momentum of Enhanze and that’s a long way away if ever.
8. Meanwhile Halo is a leader in the industry and that’s hard to top. I’ve always said cash flow is king and Halo has a lot of it. Cash flow is 33% higher per year than the sock price was 18 years ago.hard to beat that.

Those are a big part of the reason I’m still hanging around. Now if Roaring Kitty could just come around I might exit sooner.

Yep, I didn’t love the director selling either. But then again, many of the directors were selling when halo was trading in teens and 20’s. They often sell for personal needs or to rebalance their portfolios and not have too much exposure in one name. Just like their selling did not forecast doom and gloom back at far lower prices, it does’t scare me too much now (unless they exit on mass)

CEO only sold the options she was recently rewarded and did not reduce her total holdings. She still owns 600k+ shares.