$HALO
HALOZYME THERAPEUTICS, INC.

2014 Q2 Form 10-Q Financial Statement

#000115903614000070 Filed on August 11, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $18.39M $14.45M
YoY Change 27.2% 86.33%
Cost Of Revenue $5.924M $1.284M
YoY Change 361.37% 797.15%
Gross Profit $3.570M $1.816M
YoY Change 96.59% 375.61%
Gross Profit Margin 19.42% 12.56%
Selling, General & Admin $8.752M $7.300M
YoY Change 19.89% 30.81%
% of Gross Profit 245.15% 401.98%
Research & Development $18.65M $27.99M
YoY Change -33.38% 74.05%
% of Gross Profit 522.38% 1541.35%
Depreciation & Amortization $400.0K $300.0K
YoY Change 33.33% 0.0%
% of Gross Profit 11.2% 16.52%
Operating Expenses $27.40M $35.29M
YoY Change -22.36% 62.92%
Operating Profit -$14.94M -$22.12M
YoY Change -32.46% 57.47%
Interest Expense $1.451M $849.0K
YoY Change 70.91%
% of Operating Profit
Other Income/Expense, Net $118.0K $58.00K
YoY Change 103.45% 114.98%
Pretax Income -$16.30M -$22.90M
YoY Change -28.82% 63.57%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$16.27M -$22.91M
YoY Change -28.98% 63.41%
Net Earnings / Revenue -88.51% -158.52%
Basic Earnings Per Share -$0.13
Diluted Earnings Per Share -$0.13 -$203.6K
COMMON SHARES
Basic Shares Outstanding 123.7M shares 113.2M shares
Diluted Shares Outstanding 123.7M shares

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $147.6M $76.00M
YoY Change 94.21% -25.49%
Cash & Equivalents $56.14M $27.93M
Short-Term Investments $91.50M $48.10M
Other Short-Term Assets $8.000M $11.10M
YoY Change -27.93% 8.82%
Inventory $7.114M $2.467M
Prepaid Expenses
Receivables $12.90M $10.83M
Other Receivables $0.00 $0.00
Total Short-Term Assets $175.6M $100.4M
YoY Change 74.89% -16.11%
LONG-TERM ASSETS
Property, Plant & Equipment $3.343M $4.577M
YoY Change -26.95% 128.83%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.100M $2.400M
YoY Change 29.17%
Total Long-Term Assets $6.429M $6.966M
YoY Change -7.72% 248.32%
TOTAL ASSETS
Total Short-Term Assets $175.6M $100.4M
Total Long-Term Assets $6.429M $6.966M
Total Assets $182.1M $107.4M
YoY Change 69.53% -11.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.910M $7.481M
YoY Change -47.73% 256.24%
Accrued Expenses $16.46M $15.29M
YoY Change 7.62% 103.86%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $6.203M $3.643M
YoY Change 70.26%
Total Short-Term Liabilities $31.72M $32.83M
YoY Change -3.39% 103.93%
LONG-TERM LIABILITIES
Long-Term Debt $43.60M $28.20M
YoY Change 54.61%
Other Long-Term Liabilities $2.854M $678.7K
YoY Change 320.51% -98.14%
Total Long-Term Liabilities $2.854M $678.7K
YoY Change 320.51% -98.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $31.72M $32.83M
Total Long-Term Liabilities $2.854M $678.7K
Total Liabilities $34.58M $33.51M
YoY Change 3.17% -36.17%
SHAREHOLDERS EQUITY
Retained Earnings -$424.9M -$340.8M
YoY Change 24.68%
Common Stock $480.2M $352.0M
YoY Change 36.43%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $55.30M $11.14M
YoY Change
Total Liabilities & Shareholders Equity $182.1M $107.4M
YoY Change 69.53% -11.76%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income -$16.27M -$22.91M
YoY Change -28.98% 63.41%
Depreciation, Depletion And Amortization $400.0K $300.0K
YoY Change 33.33% 0.0%
Cash From Operating Activities -$15.80M -$10.90M
YoY Change 44.95% -20.44%
INVESTING ACTIVITIES
Capital Expenditures -$400.0K -$100.0K
YoY Change 300.0% -85.71%
Acquisitions
YoY Change
Other Investing Activities -$5.500M $0.00
YoY Change
Cash From Investing Activities -$5.900M -$100.0K
YoY Change 5800.0% -85.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.200M 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -15.80M -10.90M
Cash From Investing Activities -5.900M -100.0K
Cash From Financing Activities 1.200M 0.000
Net Change In Cash -20.50M -11.00M
YoY Change 86.36% -24.14%
FREE CASH FLOW
Cash From Operating Activities -$15.80M -$10.90M
Capital Expenditures -$400.0K -$100.0K
Free Cash Flow -$15.40M -$10.80M
YoY Change 42.59% -16.92%

Facts In Submission

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Organization and Business </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Halozyme Therapeutics, Inc. is a science-driven, biopharmaceutical company committed to making molecules into medicines for patients in need. Our research focuses primarily on human enzymes that alter the extracellular matrix. The extracellular matrix is a complex matrix of proteins and carbohydrates surrounding the cell that provides structural support in tissues and orchestrates many important biological activities, including cell migration, signaling and survival. Over many years, we have developed unique technology and scientific expertise enabling us to pursue this target-rich environment for the development of therapies. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our proprietary enzymes can be used to facilitate the delivery of injected drugs and fluids, thus enhancing the efficacy and the convenience of other drugs or to alter abnormal tissue structures for clinical benefit. We have chosen to exploit our technology and expertise in a balanced way to modulate both risk and spend by: (1) developing our own proprietary products in therapeutic areas with significant unmet medical needs, such as diabetes, oncology and dermatology, and (2) licensing our technology to biopharmaceutical companies to collaboratively develop products which combine our technology with the collaborators' proprietary compounds. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The majority of the product candidates in our current pipeline are based on rHuPH20, a patented human recombinant hyaluronidase enzyme. rHuPH20 temporarily breaks down hyaluronic acid - a naturally occurring substance that is a major component of the extracellular matrix in tissues throughout the body such as skin and cartilage. We have one proprietary commercial product, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Hylenex</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174;</sup></font><font style="font-family:inherit;font-size:10pt;"> recombinant. Our proprietary pipeline consists of one approved product in the U.S. (</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Hylenex</font><font style="font-family:inherit;font-size:10pt;"> recombinant) and multiple clinical stage product candidates in diabetes, oncology and dermatology. We currently have collaborations with F. Hoffmann-La Roche, Ltd. and Hoffmann-La Roche, Inc. (&#8220;Roche&#8221;), Pfizer Inc. (&#8220;Pfizer&#8221;) and Baxter Healthcare Corporation (&#8220;Baxter&#8221;), with three products from our collaborations approved for marketing in Europe, one product candidate which has been submitted for regulatory approval in the U.S. and several others at various stages of development.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We were founded in 1998 and reincorporated from the State of Nevada to the State of Delaware in November 2007. Except where specifically noted or the context otherwise requires, references to &#8220;Halozyme,&#8221; &#8220;the Company,&#8221; &#8220;we,&#8221; &#8220;our,&#8221; and &#8220;us&#8221; in these Notes to Condensed Consolidated Financial Statements refer to Halozyme Therapeutics, Inc. and our wholly owned subsidiary, Halozyme, Inc., and Halozyme, Inc.'s wholly owned subsidiary, Halozyme Holdings Ltd.</font></div></div>
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dei Amendment Flag
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dei Document Fiscal Year Focus
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dei Document Period End Date
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2014-06-30
dei Document Type
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dei Entity Central Index Key
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0001159036
CY2014Q3 dei Entity Common Stock Shares Outstanding
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dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
HALOZYME THERAPEUTICS INC

Files In Submission

Name View Source Status
0001159036-14-000070-index-headers.html Edgar Link pending
0001159036-14-000070-index.html Edgar Link pending
0001159036-14-000070.txt Edgar Link pending
0001159036-14-000070-xbrl.zip Edgar Link pending
ex101loanamendment.htm Edgar Link pending
ex311q22014.htm Edgar Link pending
ex312q22014.htm Edgar Link pending
ex32q22014.htm Edgar Link pending
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Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
halo-20140630.xml Edgar Link completed
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halo-20140630_def.xml Edgar Link unprocessable
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halo2q2014-10q.htm Edgar Link pending
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