Halozyme Therapeutics Announced Q4 Results
Halozyme Therapeutics Inc. (NASDAQ: HALO) announced bigger than expected loss for its fourth quarter of the year. The company also reported lower revenue for the quarter.
* Halozyme Therapeutics reported its quarterly loss at $16.9 million.
* On per share basis, its loss stood at 17 cents.
The company had suffered a loss of $12.7 million or 14 cents per share during the corresponding quarter of the last year. Halozyme Therapeutics also reported lower revenue at $3.6 million. The company’s revenue during the previous year quarter was at $6.4 million. The company reported that its revenue from partnerships declined by almost 50 percent. The company also said that its research and development expenses shot up during the quarter. The company also had to charge high severance expenses due to employee layoffs.
Halozyme Therapeutics was expected to report its loss at 12 cents per share. Its revenue expectations were pegged at $5.1 million. The company is currently studying an enzyme, which is likely to be used for altering intravenous drugs. Halozyme Therapeutics is collaborating with Roche and Baxter International. The company also announced its full year loss at $53.2 million. The company’s annual revenue stood at $13.6 million.
Halozyme Therapeutics is a biopharmaceutical firm. The company is engaged in the development and marketing of extracellular matrix products. The company’s products are used for oncology, endocrinology and dermatology. Halozyme Therapeutics has strategic partnerships with various companies such as Baxter Healthcare Corporation. The company was formed in 1998. Halozyme Therapeutics is based out of San Diego in California.
The company stock is currently trading at $6.67, up 0.45 percent from its previous close. Halozyme Therapeutics stock opened at $6.53 and touched the high of $6.69. The stock’s lowest price in today’s session is $6.40. The company stock’s EPS is ($0.56). The company stock has traded in the range of $6.08 and $9.11 during the past 52 weeks. The company’s market cap is $669.89 million and its beta is 1.52.
Halozyme Therapeutics reported its total current assets at $74.442 million for the year ending Dec 31, 2009. Its total assets were worth $77.150 million for the same time period. Halozyme Therapeutics had valued its total liabilities at $70.246 million. The company had reported its revenue at $13.671 million and its gross profit for the year at $13.359 million. Halozyme Therapeutics’ net income for the year stood at ($58.361) million.
