Following the announcement of two new licensing agreements for its ENHANZE® drug-delivery technology, Halozyme Therapeutics (HALO) raised financial guidance for 2017 as follows:
- Net revenue of $245 million to $260 million, an increase of $130 million from the prior range of $115 million to $130 million, reflecting the portion of upfront payments from the new agreements expected to be recorded as revenue in 2017;
- Operating expenses of $240 million to $250 million, unchanged from prior guidance;
- Positive operating cash flow of $50 million to $60 million, an increase from the prior operating cash burn range of $75 . . .