Halozyme Therapeutics slips on $1.05 bln convertible offering plans

Halozyme Therapeutics

16/09/2026 22:10

** Shares of Halozyme Therapeutics HALO.O down 1.8% at $106.51 in after hours trading as it seeks capital raise
** San Diego, California-based drug delivery firm offering privately $1.05 bln convertible bonds (CBs) due Oct 1, 2033
** Co intends to use portion of net offering proceeds to repurchase its outstanding 0.25% CBs due 2027 and 1% CBs due 2028
** Remainder earmarked for working capital, capex, potential acquisitions, future additional repurchases of existing CBs, it says
** It also intends to use some proceeds to pay cost of capped calls to mitigate potential dilution
** HALO has about $12 bln market cap
** Shares finished up 2.1% at $108.44 on Weds, up 61% YTD
** Avg rating of 10 analysts is "buy"; median PT $105, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))