Xeris Expects to Exceed Full-Year 2024 Financial Guidance
Xeris Biopharma Holdings (XERS) has announced it expects to exceed its 2024 financial guidance with projected total revenue of $203 million, surpassing previous guidance of $198-$202 million. The company anticipates ending 2024 with over $71 million in cash, cash equivalents, and short-term investments, achieving positive cash flow in Q4.
Q4 2024 highlights include $60 million in total revenue, representing 35% growth, with Recorlev® net revenue increasing approximately $5 million (28%) sequentially. Gvoke® achieved approximately 35% market share, while Keveyis® maintained stable patient numbers. The company received a $3 million milestone payment from Beta Bionics for developing a XeriSol® glucagon formulation. However, Amgen terminated its exclusive worldwide license agreement following a portfolio assessment.
Xeris Biopharma Holdings (XERS) ha annunciato che prevede di superare le proprie previsioni finanziarie per il 2024, con un fatturato totale previsto di 203 milioni di dollari, superando le precedenti stime di 198-202 milioni di dollari. L'azienda prevede di chiudere il 2024 con oltre 71 milioni di dollari in contante, equivalenti in contante e investimenti a breve termine, realizzando un flusso di cassa positivo nel quarto trimestre.
I punti salienti del quarto trimestre del 2024 includono 60 milioni di dollari di fatturato totale, rappresentando una crescita del 35%, con un aumento della fatturazione netta di Recorlev® di circa 5 milioni di dollari (28%) rispetto al trimestre precedente. Gvoke® ha raggiunto circa il 35% di quota di mercato, mentre Keveyis® ha mantenuto numeri stabili di pazienti. L'azienda ha ricevuto un pagamento milestone di 3 milioni di dollari da Beta Bionics per lo sviluppo di una formulazione di glucagone XeriSol®. Tuttavia, Amgen ha terminato il suo accordo di licenza esclusiva mondiale dopo una valutazione del portafoglio.
Xeris Biopharma Holdings (XERS) ha anunciado que espera superar sus proyecciones financieras para 2024, con unos ingresos totales proyectados de 203 millones de dólares, superando la guía anterior de 198 a 202 millones de dólares. La compañía anticipa cerrar 2024 con más de 71 millones de dólares en efectivo, equivalentes de efectivo e inversiones a corto plazo, logrando flujo de caja positivo en el cuarto trimestre.
Los aspectos destacados del cuarto trimestre de 2024 incluyen 60 millones de dólares en ingresos totales, lo que representa un crecimiento del 35%, con un aumento en los ingresos netos de Recorlev® de aproximadamente 5 millones de dólares (28%) secuencialmente. Gvoke® logró aproximadamente el 35% de participación de mercado, mientras que Keveyis® mantuvo números estables de pacientes. La compañía recibió un pago por logro de 3 millones de dólares de Beta Bionics por el desarrollo de una formulación de glucagón XeriSol®. Sin embargo, Amgen rescindió su acuerdo de licencia mundial exclusiva tras una evaluación de la cartera.
Xeris Biopharma Holdings (XERS)는 2024년 재정 지침을 초과할 것으로 예상하며 총 수익이 2억 3백만 달러에 이를 것으로 보인다고 발표했습니다. 이는 이전 지침의 1억 9천 8백만 달러에서 2억 2백만 달러를 초과하는 수치입니다. 이 회사는 2024년을 7천 1백만 달러 이상의 현금, 현금 등가물 및 단기 투자로 마감할 것으로 예상하며, 4분기에는 긍정적인 현금 흐름을 달성할 것입니다.
2024년 4분기의 주요 사항은 6천만 달러의 총 수익이 포함되며, 이는 35%의 성장을 나타내고, Recorlev®의 순수익이 약 5백만 달러 (28%) 증가했습니다. Gvoke®는 약 35%의 시장 점유율을 달성했으며, Keveyis®는 환자 수를 안정적으로 유지했습니다. 이 회사는 XeriSol® 글루카곤 제형 개발을 위해 Beta Bionics로부터 3백만 달러의 이정표 지급을 받았습니다. 그러나 Amgen은 포트폴리오 평가 후 독점 전세계 라이선스 계약을 종료했습니다.
Xeris Biopharma Holdings (XERS) a annoncé qu'elle s'attend à dépasser ses prévisions financières pour 2024, avec un chiffre d'affaires total projeté de 203 millions de dollars, dépassant les prévisions antérieures de 198 à 202 millions de dollars. L'entreprise prévoit de terminer 2024 avec plus de 71 millions de dollars en espèces, équivalents de trésorerie et investissements à court terme, réalisant un flux de trésorerie positif au quatrième trimestre.
Les points forts du quatrième trimestre 2024 comprennent 60 millions de dollars de chiffre d'affaires total, représentant une croissance de 35%, avec des revenus nets de Recorlev® augmentant d'environ 5 millions de dollars (28%) par rapport au trimestre précédent. Gvoke® a atteint environ 35% de part de marché, tandis que Keveyis® a maintenu un nombre stable de patients. L'entreprise a reçu un paiement de jalon de 3 millions de dollars de Beta Bionics pour le développement d'une formulation de glucagon XeriSol®. Cependant, Amgen a mis fin à son accord de licence exclusive mondiale suite à une évaluation de portefeuille.
Xeris Biopharma Holdings (XERS) hat angekündigt, dass sie erwartet, ihre finanziellen Vorgaben für 2024 zu übertreffen, mit einem voraussichtlichen Gesamtumsatz von 203 Millionen Dollar, was die vorherige Prognose von 198 bis 202 Millionen Dollar übertrifft. Das Unternehmen plant, 2024 mit über 71 Millionen Dollar an Bargeld, Barmitteln und kurzfristigen Investitionen abzuschließen und im vierten Quartal einen positiven Cashflow zu erzielen.
Zu den Highlights des vierten Quartals 2024 gehören 60 Millionen Dollar an Gesamterlösen, was einem Wachstum von 35% entspricht, während die Nettoumsätze von Recorlev® um etwa 5 Millionen Dollar (28%) im Vergleich zum Vorquartal gestiegen sind. Gvoke® erreichte einen Marktanteil von etwa 35%, während Keveyis® stabile Patientenzahlen aufwies. Das Unternehmen erhielt eine 3 Millionen Dollar milestone-Zahlung von Beta Bionics für die Entwicklung einer XeriSol® Glukagonformulierung. Amgen kündigte jedoch nach einer Portfolio-Bewertung seinen exklusiven Lizenzvertrag weltweit.
- Total revenue projected at $203M for 2024, exceeding guidance
- Q4 revenue growth of 35% to $60M
- Recorlev revenue increased 28% sequentially in Q4
- Positive cash flow achieved in Q4
- $3M milestone payment received from Beta Bionics
- Strong cash position of $71M+ expected at year-end
- Gvoke reached 35% market share
- Amgen terminated worldwide license agreement
Insights
The Q4 and FY2024 preliminary results showcase robust financial performance. Total revenue of
Recorlev's sequential growth of
The market positioning shows impressive gains across key products. Gvoke's
The Beta Bionics partnership progress with XeriSol formulation demonstrates technological validation, though Amgen's exit highlights pipeline development risks. The company's commercial infrastructure is delivering results, with the
The commercial execution across both rare disease (Keveyis, Recorlev) and broader market (Gvoke) products demonstrates portfolio balance. Recorlev's acceleration is particularly noteworthy given the complexities of launching in Cushing's syndrome. The stable Keveyis patient numbers indicate effective patient retention in a rare disease setting.
The formulation success with Beta Bionics validates the XeriSol platform's versatility, despite the Amgen setback. The Phase 3 ready XP-8121 program represents a significant near-term catalyst. With strengthened financials and proven commercial capabilities, Xeris is well-positioned to advance both marketed products and pipeline assets in 2025.
Full-year 2024 total revenue projected to be
Year-end 2024 cash position expected to be over
Recorlev® net revenue Q4 2024 anticipated to increase by approximately
2024 financial results and 2025 outlook expected on March 6, 2025
“We achieved another record quarter of exceptional total revenue growth with revenues expected to be
Other Fourth Quarter 2024 Updates
- Recorlev® achieved record number of new starts and referrals.
-
Gvoke® ended the year with approximately
35% market share. - Keveyis® maintained a similar number of patients on therapy as Q3 2024.
-
Beta Bionics, Inc.: Xeris successfully formulated a unique XeriSol® formulation of glucagon for bi-hormonal pumps and pump systems. This triggered a milestone payment of
$3 million - Amgen: Amgen chose to terminate its exclusive worldwide license agreement with Xeris following a broader company portfolio assessment. Their decision was not related to the performance of the XeriJect® formulation technology. The termination will not have a material impact on Xeris’ outlook.
About Xeris
Xeris (Nasdaq: XERS) is a growth-oriented biopharmaceutical company committed to improving patient lives by developing and commercializing innovative products across a range of therapies. Xeris has three commercially available products: Recorlev®, for the treatment of endogenous Cushing’s syndrome; Gvoke®, a ready-to-use liquid glucagon for the treatment of severe hypoglycemia; and Keveyis®, a proven therapy for primary periodic paralysis. Xeris also has a pipeline of development programs led by XP-8121, a Phase 3-ready, once-weekly subcutaneous injection for hypothyroidism, as well as multiple early-stage programs leveraging Xeris’ technology platforms, XeriSol® and XeriJect®, for its partners.
Xeris Biopharma Holdings is headquartered in
Forward-Looking Statements
Any statements in this press release other than statements of historical fact are forward-looking statements. Forward-looking statements include, but are not limited to, statements about future expectations, plans and prospects for Xeris Biopharma Holdings, Inc. including statements regarding the financial outlook for 2024, including quarterly product revenue, projections regarding year-end 2024 cash estimates and total revenue, company performance in 2025, the potential for growth of revenue, the market, demand and therapeutic potential of its products and product candidates, the potential utility of its formulation platforms, the advancement of its pipeline (including XP-8121), the impact of the termination of the Amgen license agreement on our outlook, the timing of the release of our financial results and outlook, and other statements containing the words “will,” “would,” “continue,” “expect,” “should,” “anticipate” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on numerous assumptions and assessments made in light of Xeris’ experience and perception of historical trends, current conditions, business strategies, operating environment, future developments, geopolitical factors and other factors it believes appropriate. By their nature, forward-looking statements involve known and unknown risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. The various factors that could cause Xeris’ actual results, performance or achievements, industry results and developments to differ materially from those expressed in or implied by such forward-looking statements, include, but are not limited to, its financial position and need for financing, including to fund its product development programs or commercialization efforts, whether its products will achieve and maintain market acceptance in a competitive business environment, its reliance on third-party suppliers, including single-source suppliers, its reliance on third parties to conduct clinical trials, the ability of its product candidates to compete successfully with existing and new drugs, and its and collaborators’ ability to protect its intellectual property and proprietary technology. No assurance can be given that such expectations will be realized and persons reading this communication are, therefore, cautioned not to place undue reliance on these forward-looking statements. Additional risks and information about potential impacts of financial, operational, economic, competitive, regulatory, governmental, technological, and other factors that may affect Xeris can be found in Xeris’ filings, including those other risk factors identified in the “Risk Factors” and “Management's Discussion and Analysis of Financial Condition and Results of Operations” sections of Xeris' Annual Report on Form 10-K for the year ended December 31, 2023, and subsequent Quarterly Reports on Form 10-Q, as filed with the Securities and Exchange Commission (SEC), the contents of which are not incorporated by reference into, nor do they form part of, this communication. You are encouraged to read our filings with the SEC, available at www.sec.gov and www.xerispharma.com, for a discussion of these and other risks and uncertainties. Forward-looking statements in this communication are based on information available to us, as of the date of this communication and, while we believe our assumptions are reasonable, actual results may differ materially. Subject to any obligations under applicable law, we do not undertake any obligation to update any forward-looking statement whether as a result of new information, future developments or otherwise, or to conform any forward-looking statement to actual results, future events, or to changes in expectations. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250110463157/en/
Allison Wey
Senior Vice President, Investor Relations and Corporate Communications
awey@xerispharma.com
Source: Xeris Biopharma Holdings, Inc.
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