Halozyme Therapeutics, Inc. (NASDAQ:HALO) Q3 2023 Earnings Call Transcript

Helen Torley: All right. Thank you for that question, Michael. We actually do have another partner that is confidential who has the non-exclusive access to the amyloid beta. And in light of that, the opportunity with Acumen was non-exclusive given that we already had somebody who has the target non-exclusively. And I think that’s a nice example as to how we’re able to do non-exclusive deals, we can licensed to multiple different partners. So I think that answered that question. And we’re excited to be working with Acumen on their novel approach to this very dreaded disease where we’re seeing significant advances and support all fee amyloid beta hypothesis as a key mechanism where we may be able to see real benefits for patients.

With regard to subcutaneous OCREVUS, what we’re hearing from Roche if you’ve been listening to the prepared remarks is Roche felt that their growth of — OCREVUS has been a little limited by the lack of infusion, the seat capacity both outside the U.S. and in the U.S. And also sites who are able to have IV infrastructure. In light of that is a lot of commentary from Roche to think about this a little bit like FASPRO became after the conversion was done which is there going to be trying to grow the overall market as a primary goal and also have some twitch but it’s going to be a little bit of a different dynamic than the one you mentioned for rituximab high seller where it was switched before biosimilars. I think we’re going to see both dynamics happening and we’re very excited by that because it means that patients who are living far away on a per access such as patients in rural communities or countries where there isn’t good access to IV therapies are going to be able to start on OCREVUS which is the leading therapy for multiple sclerosis in the U.S. and EU-5.

So we’ll see a market growth strategy and the conversion strategy because we haven’t seen exactly this dynamic happened before. It’s hard to peg exactly how much conversion will happen, but we certainly are seeing for FASPRO, I can turn your attention to that. The availability of FASPRO is what’s been fueling the dramatic growth we’re seeing of DARZALEX in the last couple of years and that’s what is projected to be taking DARZALEX from an $8 billion brand last year to $16 billion brand next year. So new way to think about it, but I think equally exciting in terms, all the opportunity, we’re going to see here for OCREVUS, where it’ll be 10 minutes subcu, two times a year instead of 3.5 to six hours IV twice a year. And very likely closer to the patient’s home.

Michael DiFiore: Super helpful. Thanks so much.

Operator: Your next question comes from the line of Corinne Jenkins with Goldman Sachs. Your line is open.

Corinne Jenkins: Great. Maybe a couple from us. First, could you just talk to us about some of the drivers of the XYOSTED gross this quarter’s I think pretty meaningful. Are you seeing an inflection and what pockets are driving that?

Helen Torley: Yes, with — Thanks, Corinne. What I said, with a focus on two drivers. First one is driving that conversion in the physician’s office to get the patient some identified who are not doing well on their IM XYOSTED and getting them on to — sorry, their IM testosterone therapy and getting them on to XYOSTED. And the second one is very careful attention in the office to make sure the office is filling in any prior operations of authorizations that might be required. But also making sure when the patient gets a prescription filled, they’re being more successfully connected with the copay assistance and other programs we put in place. So it’s that some pull through of all of the programs and a higher rate of identification of patients.

But really is driving the growth that we’re seeing and we do predict, we’re still under 5% share. All of this overall market which is dominated by the IM security, which is our conversion target that’s what we’re trying to switch patients from. So in lot of growth still to come with that this strategy that is beginning to really pay dividends.