12:34 PM EDT, 06/06/2024 (MT Newswires) -- (Updates with share price movement in the headline and first paragraph.)

Halozyme Therapeutics ( HALO ) shares were up 13% in recent trading Thursday after the company said it is raising its 2024 guidance after receiving a European patent for its Enhanze drug delivery technology.

The company said it now expects 2024 non-GAAP earnings of $3.65 to $4.05 per diluted share, up from its prior guidance of $3.55 to $3.90.

Analysts polled by Capital IQ expect $3.70.

Revenue for the year is now expected to be $935 million to $1.02 billion, compared with its earlier expectation of between $915 million and $985 million.

Analysts surveyed by Capital IQ expect $959 million.

Price: 51.68, Change: +6.03, Percent Change: +13.21