85% recurring revenue. 5x revenue growth in 5 years. The biotech royalty engine Wall Street forgot.
**TL;DR:** Halozyme ($HALO) licenses drug delivery tech that transforms hour-long IV infusions into 5-minute subcutaneous injections. 62% royalty revenue, 10 launched products with 20+ more in development, $781M owner earnings. The stock dropped 23% because GLP-1 competition is hurting some …