Halozyme Prices Upsized $1.3 Billion 1.50% Convertible Senior Notes Due 2033 Offering to Refinance 2027-2028 Maturities and Fund ENHANZE Recombinant Hyaluronidase (rHuPH20) Platform Expansion
Halozyme Therapeutics (NASDAQ: HALO) priced Thursday September 17, 2026 an upsized $1.3 billion aggregate principal amount of 1.50% convertible senior notes due 2033 — increased from the previously announced $1.05 billion offering size announced Wednesday September 16, 2026. Terms: 1.50% coupon, semi-annual interest, initial conversion rate of 7.1509 shares per $1,000 principal (approximately $139.84 per share initial conversion price). Halozyme will use approximately $652.5 million of proceeds to repurchase existing convertible notes maturing in 2027 and 2028; the balance funds general corporate purposes including working capital and potential acquisitions. Offering close targeted September 22, 2026. Halozyme is the innovator of the ENHANZE recombinant hyaluronidase drug-delivery technology (proprietary rHuPH20 enzyme), which enables subcutaneous conversion of intravenously administered biologics — deployed by 10+ marketed products across partners including Roche (Herceptin SC, Phesgo, Ocrevus Zunovo, Tecentriq Hybreza), J&J (Darzalex Faspro, Rybrevant SC), Bristol Myers Squibb (Opdivo Qvantig), argenx (Vyvgart Hytrulo), and Alteogen's competing ALT-B4 platform after Roche's separate September 8 Alteogen licensing deal.