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Xeris Biopharma Holdings, Inc. reports news about its commercial biopharmaceutical business, including product revenue, financial guidance and operating updates tied to Recorlev®, Gvoke® and Keveyis®. The company commercializes Recorlev for endogenous Cushing’s syndrome, Gvoke ready-to-use liquid glucagon for severe hypoglycemia and Keveyis for primary periodic paralysis.
Recurring updates also cover development of XP-8121, a Phase 3-ready once-weekly subcutaneous levothyroxine candidate for hypothyroidism, and programs using Xeris’ XeriSol® and XeriJect® technology platforms. Company news includes intellectual property developments for Recorlev, partnership-related revenue, and equity inducement grants under Nasdaq listing rules.
Xeris Biopharma Holdings reported Q1 2022 net product revenue of $21.9M, reflecting a 33% increase year-over-year on a pro forma basis. The company ended the quarter with $132.1M in cash and equivalents, affirming 2022 revenue guidance of $105M - $120M and aiming for cash flow breakeven by year-end 2023. Key products like Gvoke achieved over 30,000 prescriptions, a growth of 88%. However, net loss for the quarter stood at $33.7M, compared to $18.4M in Q1 2021.
Xeris Biopharma Holdings, Inc. (Nasdaq: XERS) will announce its first quarter 2022 financial results before the U.S. market opens on May 11, 2022. A conference call and webcast will follow at 8:30 a.m. ET for investors to discuss the results. Xeris specializes in unique therapies for endocrinology, neurology, and gastroenterology, with three available products: Gvoke®, Keveyis®, and Recorlev®. The company aims to expand its pipeline with novel treatments utilizing its proprietary formulation technologies.
Xeris Biopharma Holdings (Nasdaq: XERS) announced the availability of the Gvoke® Kit, a ready-to-use glucagon injection for severe hypoglycemia, now accessible by prescription. This kit includes a single-dose sterile syringe and vial, designed for those at risk of low blood sugar events. The Gvoke products received FDA approval in September 2019 and August 2021. The company, headquartered in Chicago, aims to meet the growing demand among patients to keep Gvoke readily available for emergencies.
Xeris Biopharma Holdings (XERS) completed the acquisition of Strongbridge Biopharma, realizing $50M in synergies by year-end 2022. Pro forma net product revenues rose to $79M in FY '21, a 56% increase. Expected growth for 2022 is $105M-$120M with cash resources projected at $90M-$110M by year-end. The company anticipates reaching cash flow breakeven by the end of 2023. Key product sales, including Gvoke and Recorlev, are driving growth, alongside a strong cash position bolstered by recent financing moves.
Xeris Biopharma Holdings, Inc. (Nasdaq: XERS) has secured a $150 million senior secured term loan from Hayfin Capital Management. The initial drawdown of $100 million will repay existing debts and enhance working capital. Xeris aims for cash flow breakeven by year-end 2023, leveraging a total capital base of approximately $180 million. The debt facility has a five-year maturity with a 9% interest rate and provides additional borrowing flexibility. Xeris' CFO noted this agreement increases financial strength while protecting shareholder interests through non-dilutive capital.
Xeris Biopharma Holdings, Inc. (Nasdaq: XERS) announces the release of its fourth quarter and full year 2021 financial results on March 10, 2022, prior to U.S. market open. A conference call and webcast will follow at 8:30 a.m. ET to discuss the results. The company specializes in developing therapies for endocrinology, neurology, and gastroenterology, with products like Gvoke® and Keveyis®. Xeris also has ongoing development programs supported by proprietary formulation technologies.
Xeris Biopharma (Nasdaq: XERS) announced that its CEO, Paul R. Edick, will participate in the 11th Annual SVB Leerink Global Healthcare Conference on February 16, 2022, at 12:00pm Eastern Time. The event will include a fireside chat format and will be accessible via a live webcast on the company's investor relations website. Xeris is focused on developing unique therapies in endocrinology, neurology, and gastroenterology, with products like Gvoke® for severe hypoglycemia and Recorlev® for Cushing’s syndrome, among others.
Xeris Biopharma Holdings (NASDAQ: XERS) announced that its drug Recorlev (levoketoconazole) is now exclusively available through PANTHERx Rare Specialty Pharmacy. This FDA-approved treatment for Cushing's syndrome enhances patient access through the Xeris CareConnection program, offering $0 co-pay for insured individuals and comprehensive support services. Recorlev aims to address the needs of patients unable to undergo surgery. It received positive Phase 3 study results, demonstrating significant efficacy in reducing cortisol levels.
Xeris Biopharma Holdings (NASDAQ: XERS) reported preliminary full-year 2021 pro forma net sales between $76-80 million, reflecting approximately 55% growth from 2020. The company ended the year with around $102 million in cash and equivalents. As of January 1, 2022, over 20 million Medicaid lives across IL, TN, PA, OH, and CA gained unrestricted access to Gvoke®. The company also anticipates launching Recorlev® soon, bolstered by an additional $30 million raised in capital. Actual financial results will be reported in March 2022.
PANTHERx Rare has been chosen by Xeris Pharmaceuticals as the exclusive U.S. distribution partner for Recorlev (levoketoconazole), a newly FDA-approved treatment for endogenous hypercortisolemia in adults with Cushing's syndrome. This medication is crucial for patients for whom surgery is not viable. Cushing's syndrome is prevalent in adults aged 30-50, particularly affecting women. Recorlev will be available commercially in Q1 2022. Important safety warnings include hepatotoxicity and QT prolongation risks.