Halozyme shares rise as Q1 revenue beats estimates on royalty growth

Halozyme Therapeutics (NASDAQ: HALO) reported first-quarter 2026 revenue above Wall Street expectations, driven by higher royalty revenue from its ENHANZE drug-delivery platform. Shares traded at $69.15 after the earnings release, up from $66.41 beforehand. Revenue rose 42.2% year over year to $376.7 million. Non-GAAP earnings were $1.60 per share, 5.3% above consensus estimates. Royalty revenue increased 43% from a year earlier, supported by partner products including DARZALEX, VYVGART Hytrulo and PHESGO. The company guided for full-year 2026 revenue of about $1.76 billion, broadly in line with analyst estimates. Management said growth will be supported by existing ENHANZE products, investment in Hypercon manufacturing capacity, additional partner programs and 13 potential partner launches after 2029. Halozyme also cited acquisitions including Hypercon and Surf Bio as part of its strategy to expand its royalty-based business.