Halozyme, a US-based biopharmaceutical company, reported on Monday its financial results for the first quarter ended 31 March 2021.

The company reported revenue for the first quarter of 2021 at USD89m compared to USD25.4m in the year-ago period.

The firm posted operating income on a GAAP basis for the first quarter of 2021 at USD50.7m compared to an operating loss of USD3.2m for the same period in 2020. Diluted earnings per share on a GAAP basis at USD0.19 in the first quarter of 2021 compared with a loss per share of USD0.04 in the same period in 2020. The company reported diluted earnings per share on a non-GAAP basis at USD0.37 compared with diluted earnings per share of USD0.02 in the same period in 2020.

'The first quarter marked a strong start to 2021 highlighted by record quarterly royalty revenue driven by the continued successful launch of subcutaneous DARZALEX worldwide,' said Dr. Helen Torley, president and chief executive officer. 'Our pipeline of partnered product candidates using ENHANZE technology continues to build momentum with four new clinical study starts in the first quarter. Additionally, we were able to strengthen our balance sheet on highly attractive terms reflective of the strong anticipated cash flow generation and growth prospects for Halozyme.'