Halozyme Therapeutics Reports Significant 2025 Growth

Biopharmaceutical company highlights accelerating royalty revenue, portfolio expansion, and new collaborations.

Published on Feb. 20, 2026

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Halozyme Therapeutics (NASDAQ:HALO) executives reported a 'significant and value-creating' 2025, citing accelerating royalty growth from ENHANZE-enabled products, expansion into additional subcutaneous drug delivery technologies, and a widening pipeline expected to support longer-term revenue durability.

Why it matters

Halozyme's ENHANZE technology enables subcutaneous administration of biologic therapies, improving patient access and convenience. The company's continued growth and diversification into new delivery platforms position it as a leader in the evolving drug delivery landscape.

The details

Key highlights from Halozyme's Q4 2025 report include: expanding the portfolio from two to four subcutaneous drug delivery technologies through acquisitions; momentum from partners on regulatory approvals and pipeline additions tied to ENHANZE; continued growth in royalty contributions from ENHANZE-enabled products like DARZALEX subcutaneous, Phesgo, and VYVGART Hytrulo; record revenue growth of 38% in 2025 to $1.4 billion; and preclinical data evaluating ENHANZE for subcutaneous delivery of antibody-drug conjugates.

  • Halozyme expanded its portfolio in the fourth quarter of 2025.
  • Halozyme expects to sign at least three new licensing agreements in 2026, including one to three new ENHANZE collaborations and one to two new Hypercon collaborations.
  • Halozyme is awaiting a scheduling order in the district court case against Merck, with both parties expected to appear before the district court in June.

The players

Halozyme Therapeutics

A biopharmaceutical company headquartered in San Diego, California, that specializes in the development and commercialization of novel drug-delivery technologies.

Dr. Helen Torley

President and CEO of Halozyme Therapeutics.

Nicole LaBrosse

Chief Financial Officer of Halozyme Therapeutics.

Chris Wahl

Chief Scientific Officer of Halozyme Therapeutics.

Johnson & Johnson

A multinational corporation that develops medical devices, pharmaceutical, and consumer packaged goods.

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