US Markets
Home›US Markets›M&A & Deals›Halozyme and Incyte sign global deal for subcutaneous…
Halozyme and Incyte sign global deal for subcutaneous INCA033989
Halozyme expects to use its ENHANZE drug delivery technology, while Incyte will hold an option to add two more targets under the agreement.
Halozyme Therapeutics and Incyte announced a global collaboration and licensing deal to develop a subcutaneous formulation of Incyte's INCA033989, a first-in-class monoclonal antibody aimed at mutant calreticulin, or mutCALR, expressing myeloproliferative neoplasms. The companies said Halozyme will leverage its ENHANZE drug delivery technology to support a more convenient dosing regimen for patients, with the initial focus on this targeted oncology program.
Under the agreement, Halozyme will receive an upfront payment, milestone payments, and royalties tied to commercial sales. Incyte retains an option to nominate two additional targets, signaling that the partnership could expand beyond the first asset.
The announcement also comes as both companies posted record Q2 2026 results. Halozyme reported Q2 revenue of $481 million, up 48% year over year, and non-GAAP diluted EPS of $2.28, versus $1.79 to $1.82 expected, driven by a 50% jump in royalty revenues to $308 million and $332.8 million in share buybacks.
Incyte reported Q2 GAAP total revenue of $1.67 billion, up 38% year over year, and non-GAAP EPS of $3.09. Halozyme raised full-year 2026 revenue guidance to $1.835 billion to $1.910 billion and non-GAAP EPS guidance to $8.65 to $9.00, while Incyte raised full-year net sales guidance to $5.13 billion to $5.26 billion, Yahoo Finance said.