Hot Healthcare stock to watch: Halozyme Therapeutics, Inc. (NASDAQ: HALO)

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Halozyme Therapeutics, Inc. (NASDAQ: HALO) stock rose over 19.7% on the last four weeks (Source: Finviz.com). For the third quarter of FY 19, the company has reported the net loss for the third quarter of $25 million, compared to a net loss in the third quarter of 2018 of $27.9 million. The company has generated cash, cash equivalents and marketable securities of $238.0 million at September 30, 2019, compared to $354.5 million at December 31, 2018.

HALO in the third quarter of FY 19 has reported the adjusted loss per share of 17 cents, while reported the adjusted revenue of $46.2 million in the third quarter of FY 19. The revenue grew due to higher product sales of bulk rHuPH20 to Janssen of $20.1 million.

Additionally, in November 2019, the Company has authorized the initiation of a capital return program to repurchase up to $350 million of the Company’s outstanding common share over the next three years.

For FY 19, the company expects total revenues to be in the range of $195 million to $205 million, compared with prior guidance of $205 million to $215 million, mainly due to the movement of a planned Phase 3 trial start from 2019 to 2020, which is offset in part, by a new unplanned target nomination. The 2019 royalties are expected to be in the range of $67 million to $69 million, compared with prior guidance of $72 million to $74 million. 2019 Operating expenses are expected to be in the range of $255 million to $265 million, and operating expenses excluding cost of product sales to be in the range of $215 million to $225 million. The company expects one-time restructuring costs to be in the of $25 million to $27 million that will be booked in the fourth quarter of 2019. The restructuring costs were offset by expense savings related to the closing of the Company’s oncology operations. Operating cash burn is expected to be in the range of $50 million to $60 million, compared with prior guidance of $40 million to $50 million. Year-end cash, cash equivalents and marketable securities balance is expected to be in the range of $220 million to $230 million.

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