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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 Pharmaceuticals, Inc. (Nasdaq: XERS) will release its second quarter 2021 financial results on August 5, 2021, before the U.S. market opens. A conference call will be held at 8:30 a.m. ET to discuss financial and operational results. Xeris specializes in ready-to-use injectable formulations, with its proprietary technologies such as XeriSol™ and XeriJect™, aimed at simplifying administration and enhancing stability. The company's first commercial product is Gvoke®. Investors can register for the call and access a replay later.
Xeris Pharmaceuticals (Nasdaq: XERS) announced executive changes to strengthen its commercial strategy, particularly ahead of the acquisition of Strongbridge Biopharma. CFO Barry Deutsch has stepped down but will assist during the transition until the merger's expected completion in Q4 2021. Steven Pieper, with 20 years of healthcare finance experience, has been promoted to CFO. He previously helped launch Xeris's first commercial product, Gvoke®. The company continues to focus on innovative, ready-to-use injectable drug formulations to enhance patient care.
Xeris Pharmaceuticals (Nasdaq: XERS) has entered an exclusive agreement with Tetris Pharma for the commercialization of Ogluo® in the European Economic Area, the UK, and Switzerland, aimed at treating severe hypoglycaemia in diabetes patients. Xeris is set to receive up to $71 million in milestone payments and royalties on net sales. The partnership is expected to enhance Ogluo's accessibility to insulin-dependent diabetes patients, where the demand is significant, yet current glucagon prescriptions remain low.
Xeris Pharmaceuticals, Inc. (Nasdaq: XERS) disclosed that on July 1, 2021, it granted 80,250 restricted stock units to 37 new employees through its Inducement Equity Plan. This plan targets new hires as incentives for accepting employment. The stock options will vest over four years, with various vesting schedules based on employment duration. Xeris specializes in ready-to-use injectable formulations, aiming to simplify medication delivery and reduce healthcare costs. Its proprietary technologies, XeriSol™ and XeriJect™, enhance stability and ease of use for patients and providers.
Xeris Pharmaceuticals (XERS) has announced an agreement to acquire Strongbridge Biopharma (SBBP) for approximately $267 million in stock and contingent value rights (CVRs). Strongbridge shareholders will receive a fixed exchange ratio of 0.7840 shares of the new entity, Xeris Biopharma Holdings, and potential CVRs based on sales milestones of KEVEYIS® and RECORLEV®. This merger aims to create a diversified biopharmaceutical company focused on rare diseases, enhancing revenue growth with commercial assets like Gvoke® and RECORLEV®. The transaction is expected to close in Q4 2021.
Xeris Pharmaceuticals (XERS) announced its acquisition of Strongbridge Biopharma (SBBP) for approximately $267 million, combining their operations into Xeris Biopharma Holdings. Strongbridge shareholders will receive 0.7840 shares of Xeris for each of their shares, translating to about $2.72 per share, a 12.9% premium. Contingent value rights (CVRs) could add up to $1.00 per share based on sales targets for KEVEYIS and RECORLEV. Post-acquisition, current Xeris shareholders will hold 60% of the company.
Xeris Pharmaceuticals has announced a definitive agreement to acquire Strongbridge Biopharma for approximately $267 million, including stock and contingent value rights (CVRs). The transaction values Strongbridge at about $2.72 per share, reflecting a 12.9% premium based on its closing price on May 21, 2021. The deal, unanimously approved by both companies' boards, is expected to close in early Q4 2021. This merger will create Xeris Biopharma Holdings, combining their product portfolios and commercial infrastructures to enhance revenue growth and operational efficiencies in the specialty and rare disease markets.
Xeris Pharmaceuticals, Inc. (XERS) reported its first quarter 2021 results, highlighting strong financial performance despite pandemic challenges. Gvoke prescriptions exceeded 16,000, marking over 400% growth year-over-year. The company received EU approval for Ogluo and is targeting a Q4 2021 launch. Financially, Gvoke net sales reached $8.1 million, with a net loss of $18.4 million, improved from $29.2 million in the same quarter last year. As of March 31, 2021, Xeris held $135.9 million in cash and equivalents. Management is optimistic about market stability and product development.
Xeris Pharmaceuticals, Inc. (Nasdaq: XERS) announced that CEO Paul R. Edick will participate in several virtual events, including:
- The diaTribe Foundation Musings event on May 13, 2021
- RBC Capital Markets Global Healthcare Conference on May 19, 2021
- Jefferies Global Healthcare Conference on June 2, 2021
The presentations are accessible via the Company's website. Xeris focuses on innovative injectable drug formulations and has developed technologies that enhance the ease of use for patients and caregivers, including its Gvoke® product in the U.S.
Xeris Pharmaceuticals, Inc. (Nasdaq: XERS) will announce its Q1 2021 financial results before the U.S. market opens on May 13, 2021. A conference call will follow at 8:30 a.m. ET for management to discuss the financial and operational outcomes. Xeris is focused on developing innovative, ready-to-use injectable and infusible therapies, leveraging proprietary technologies like XeriSol™ and XeriJect™ to simplify drug administration. The company aims to improve patient experiences while reducing healthcare costs.