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Business Combination (Tables)

12 Months Ended

Dec. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Total Purchase Price Consideration

The total purchase consideration was comprised of the following (in thousands):

Cash consideration for Antares shares outstanding as of May 24, 2022						$	956,886
Consideration for Antares equity compensation awards (a)						45,828
Consideration for seller transaction costs paid by Halozyme						22,906
Consideration related to Antares closing indebtedness settled by Halozyme						19,683
Cash consideration related to cash bonus awards paid by Halozyme						365
Total purchase consideration						$	1,045,668

(a) Consideration for Antares equity compensation awards consists of $32.2 million paid for vested equity awards as well as $13.6 million paid for the pre-combination portion of unvested equity awards that were accelerated as part of the Merger Agreement. The fair value of the unvested equity awards attributable to the post-combination period of $8.7 million is included in our consolidated statements of income in twelve months ended December 31, 2022.

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

As a result, the preliminary estimates may be revised during the measurement period. These differences could change the value of the intangible assets acquired, the contingent liability assumed, and the tax impacts related to the acquisition and could have a material impact on our results of operations and financial position.

						Amounts (in thousands)
						Amounts recognized as of Acquisition date (as initially reported)						Measurement period adjustment						Amounts recognized as of Acquisition date (as adjusted )
Total purchase consideration, net of $46,548 cash acquired						$	999,120					$	—					$	999,120
Assets:
Short-term investments						498						—						498
Accounts receivable, net						82,160						—						82,160
Inventories, net						34,379						(6,311)						28,068
Prepaid expenses and other assets						5,241						—						5,241
Property and equipment, net						28,661						—						28,661
Intangibles, net						987,500						(397,700)						589,800
Liabilities:																		—
Accounts Payable						7,197						—						7,197
Accrued expenses						33,705						7,949						41,654
Deferred revenue, current portion						2,509						—						2,509
Deferred revenue, net of current portion						1,207						—						1,207
Deferred tax liabilities, net						159,094						(88,092)						71,002
Other long-term liabilities						135,088						(114,300)						20,788
Net assets acquired, excluding goodwill						$	799,639					$	(209,568)					$	590,071
Goodwill						$	199,481					$	209,568					$	409,049

Schedule of Acquired Finite-Lived Intangible Assets by Major Class

Useful lives and preliminary values are presented in the table below.

						Amount (in thousands)						Useful life (years)
Auto-Injector technology platform						$	402,000					7
XYOSTED proprietary product						136,200						10
TLANDO product rights						2,900						10
ATRS-1902 (IPR&D)						48,700						Indefinite
Estimated fair value of intangible assets acquired						$	589,800

Schedule of Acquired Indefinite-lived Intangible Assets by Major Class

Useful lives and preliminary values are presented in the table below.

						Amount (in thousands)						Useful life (years)
Auto-Injector technology platform						$	402,000					7
XYOSTED proprietary product						136,200						10
TLANDO product rights						2,900						10
ATRS-1902 (IPR&D)						48,700						Indefinite
Estimated fair value of intangible assets acquired						$	589,800

Business Acquisition, Pro Forma Information (unaudited)

The following unaudited pro forma financial information summarizes combined results of operations of Halozyme and Antares as if the companies had been combined as of the beginning of our fiscal year 2021.

						Twelve Months Ended December 31,
						2022						2021
Total Revenues						$	712,683					$	627,292
Net income						$	218,723					$	295,634

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