“Product Sales, Net – Product sales, net were as follows (in thousands): Six Months Ended Increase / (Decrease) June 30, 2026 2025 Dollar Percentage Proprietary product sales $ 97,301 $ 82,793 $ 14,508 18 % Bulk rHuPH20 sales 133,115 50,296 82,819 165 % Device…”10-Q · Aug 6, 2026 ↗
Halozyme Therapeutics, Inc.
HALO
Market read
Halozyme Therapeutics, Inc.'s current read is isolated; its market group is not confirming.
The latest filing evidence is available. 0 of 4 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 20 directly disclosed connections are confirming.
- Revenue increased 42.2% versus the comparable filing period.
- Operating margin fell 4.5 percentage points.
- HALO's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if HALO's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing evidence is available. 0 of 4 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 20 directly disclosed connections are confirming.
- Revenue increased 42.2% versus the comparable filing period.
- Net income increased 27.1% versus the comparable filing period.
- Operating margin fell 4.5 percentage points.
- Net margin fell 4.8 percentage points.
- HALO's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Latest annual revenue changed +37.6% year over year.
- Operating cash flow covered net income at 2.06x in the latest annual period.
- Operating margin changed -20.7 percentage points in the latest annual period.
- Net margin changed -21.0 percentage points in the latest annual period.
- Product pipeline and R&D has repeated adverse evidence across 5 filings.
- P/E is 114% above the available filing-peer median; determine whether growth and quality justify the difference.
- EV/sales is 18% below the available filing-peer median; determine whether growth and quality justify the difference.
Price as of Sep 10, 2026
106.98Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“Selling, General and Administrative – The increase in SG&A expenses was primarily due to an increase in consulting and professional service fees, including litigation costs in connection with a patent infringement litigation case, the acquisition of Elektrofi…”10-Q · Aug 6, 2026 ↗
“Income Tax Expense – Income tax expense was as follows (in thousands): Six Months Ended Increase / (Decrease) June 30, 2026 2025 Dollar Percentage Income tax expense $ 85,267 $ 65,511 $ 19,756 30 % The increase in income tax expense was primarily due to highe…”10-Q · Aug 6, 2026 ↗
“Interest Expense – Interest expense was as follows (in thousands): Six Months Ended Increase / (Decrease) June 30, 2026 2025 Dollar Percentage Interest expense $ 11,096 $ 8,919 $ 2,177 24 % The increase in interest expense is due to the issuance of the 2031 a…”10-Q · Aug 6, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 9.5× · EV/sales 10.9×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for HALO. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment · baseline
Fundamentals strengthened in the latest filing
10-Q filed 2026-05-11 against the comparable filing from 2025-05-06.
What improved
- Revenue increased 42.2% versus the comparable filing period.
- Net income increased 27.1% versus the comparable filing period.
What weakened
- Operating margin fell 4.5 percentage points.
- Net margin fell 4.8 percentage points.
Filing receipts
“The increase in cost of sales was primarily due to an increase in bulk rHuPH20 sales.”
“The increase in SG&A expenses was primarily due to an increase in consulting and professional service fees, including litigation costs in connection with a patent infringement litigation case, the acquisition of Elektrofi and Surf Bio, and an increase in compensation expense.”
“Product Sales, Net – Product sales, net were as follows (in thousands): Three Months Ended Increase / (Decrease) March 31, 2026 2025 Dollar Percentage Proprietary product sales $ 41,873 $ 36,341 $ 5,532 15 % Bulk rHuPH20 sales 73,497 27,025 46,472 172 % Device partnered product sales 15,054 14,675 379 3 % Total product sales, net $ 130,424 $ 78,041 $ 52,383 67 % The increase in product sales, net was primarily due to increased sales of bulk rHuPH20 driven by partner demand as well as contributions from our proprietary product XYOSTED driven by continued market growth.”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
The relationships behind HALO
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
TEVATeva Pharmaceutical Industries LimitedsupplierMay 11, 2026 ▾
“We have commercialized auto-injector products with Teva Pharmaceutical Industries, Ltd.”
PFEPfizer Inc.partnerMay 11, 2026 ▾
“13 Table of Contents Pfizer Collaboration In December 2012, we and Pfizer entered into a collaboration and license agreement, under which Pfizer has the worldwide license to develop and commercialize products combining our rHuPH20 enzyme with Pfizer proprieta…”
Depended on by
ORKAOruka Therapeutics, Inc.partnerMay 13, 2026 ▾
“On May 1, 2026, the Company and Halozyme Hypercon, Inc.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 21 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
HALO is currently a Early Follower in the organic co-movement group Growth Stocks. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.