Halozyme Therapeutics (HALO), a biotechnology company developing cancer treatments, posted a narrower-than expected loss per share for Q4.
The net loss was $0.21 per share, compared with earnings per share of $0.03 in the same quarter a year earlier. Analysts in a Capital IQ poll expected loss per share of $0.30 on average.
Revenue in Q4 was $39.0 million compared with $52.2 million for the fourth quarter of 2015. That’s slightly higher than the $38.37 estimated by analysts.
The company also said it sees net revenue of $115 million to $130 million, excluding any new Enhanze collaboration agreements in the full year in 2017. That compares with FY revenue of $146.7 million in 2016, which included royalty revenue of $51 million, and is in line to below the $129.7 million mean estimate.
It expects its operating expenses in a range of $240 million to $250 million and its operating cash burn at $75 million to $85 million. It said its year-end cash balance will be $110 million to $125 million, according to a new forecast which is higher than the previous estimate of between $100 million and $110 million.