HALO - Halozyme Therapeutics Inc. (HALO) Q1 2024 Earnings Call Transcript

2024-05-07 19:32:07 ET

Halozyme Therapeutics, Inc. (HALO)

Q1 2024 Earnings Conference Call

May 7, 2024 4:30 p.m. ET

Company Participants

Tram Bui - Vice President of Investor Relations and Corporate Communications

Helen Torley - President and Chief Executive Officer

Nicole LaBrosse - Chief Financial Officer

Conference Call Participants

Vikram Purohit - Morgan Stanley

Jessica Fye - J.P. Morgan

Michael DiFiore - Evercore ISI

Mohit Bansal - Wells Fargo

Corinne Johnson - Goldman Sachs

Jason Butler - Citizens JMP

Brendan Smith - TD Cowen

Mitchell Kapoor - H.C. Wainwright

David Risinger - Leerink Partners

Joe Catanzaro - Piper Sandler

Presentation

Operator

Thank you for standing by. My name is [Perla] (ph), and I'll be your conference operator today. At this time, I would like to welcome everyone to the Halozyme First Quarter 2024 Financial and Operating Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] Please note this event is being recorded. Thank you.

I would now like to turn the conference over to Tram Building, Halozyme's Vice President of Investor Relations and Corporate Communications. Please go ahead.

Tram Building

Thank you, Operator. Good afternoon, and welcome to our first quarter 2024 financial and operating results conference call. In addition to the press release issued today after the market close, you could find a supplementary slide presentation that will be referenced during today's call in the Investor Relations section of our website.

Leading the call would be Dr. Helen Torley, Halozyme's President and Chief Executive Officer, who will provide an update on our business; and Nicole LaBrosse, our Chief Financial Officer, who will review our financial results as well as our outlook.

On today's call, we will be making forward-looking statements as outlined on slide two. I would also refer you to our SEC filings for a full list of risks and uncertainties. During the call, both GAAP and non-GAAP financial measures will be discussed. Certain non-GAAP or adjusted financial measures are reconciled with the comparable GAAP financial measures in our earnings press release and slide presentation.

I'll now turn the call over to Dr. Helen Torley.

Helen Torley

Thank you, Tram, and good afternoon, everyone. Beginning on slide three, I'm very pleased to report that our first quarter 2024 operational performance was in line with our expectations, and reinforces our confidence in our full-year financial guidance. There are three drivers of this confidence in our guidance: our royalties, the expected milestone payments, and our EBITDA. Let me provide now some additional details on these three key drivers, which will help you appreciate the Halozyme business model even more....

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