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Business Combination (Tables)

12 Months Ended

Dec. 31, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [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(1)						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

(1)    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 during the year ended December 31, 2022.

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The judgments used to determine the estimated fair value assigned to each class of assets acquired and liabilities assumed, as well as asset lives, can materially impact our results of operations.

																		Amounts recognized as of 12/31/2023
Total purchase consideration, net of $46,548 cash acquired																		$	999,120
Assets
Short-term investments																		498
Accounts receivable, net																		81,960
Inventories																		28,068
Prepaid expenses and other assets																		5,241
Property and equipment, net																		28,661
Intangibles, net																		589,800
Liabilities
Accounts Payable																		7,197
Accrued expenses																		43,692
Deferred revenue, current portion																		2,509
Deferred revenue, net of current portion																		1,207
Deferred tax liabilities, net																		76,536
Other long-term liabilities																		20,788
Net assets acquired, excluding goodwill																		582,299
Goodwill																		$	416,821

Schedule of Acquired Finite-Lived Intangible Assets by Major Class

Useful lives and final 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
Fair value of intangible assets acquired						$	589,800

Schedule of Acquired Indefinite-lived Intangible Assets by Major Class

Useful lives and final 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
Fair value of intangible assets acquired						$	589,800

Schedule of Business Acquisition, Pro Forma Information

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 (in thousands).

						Year Ended December 31,
						2022						2021
Total revenues						$	712,683					$	627,292
Net income						218,723						295,634

X

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Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

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