Halo Therapeutics stock drops following weak 2023 outlook

Halozyme Therapeutics Inc.
HALO,
-10.09%
stock fell in the extended session Tuesday after the biotech drug maker’s 2023 forecast disappointed Wall Street. Halozyme shares fell as much as 8% after hours, following a 1.2% gain to close the regular session at $55.70. The company forecast annual adjusted earnings of $2.50 to $2.65 a share on revenue of $815 million to $845 million with royalties of $445 million to $455 million. Analysts surveyed by FactSet had forecast $2.55 a share on revenue of $892.5 million with royalties of $478.2 million.