Two Large Pharma Agreements with Halozyme in One Day. HALO Rallied

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 . . .

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