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) 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.
Xeris Pharmaceuticals (Nasdaq: XERS) announced an amendment to its loan agreement with Oxford Finance and Silicon Valley Bank, extending interest-only payments for up to 12 months. This allows the company to defer principal payments of $17.4 million initially due between January and December 2022 to January 2023. The final maturity date of the debt facility is set for June 1, 2024. CEO Paul R. Edick emphasized the flexibility this provides to conserve cash while advancing Gvoke's sales, which treats hypoglycemia.
Xeris Pharmaceuticals (Nasdaq: XERS) has received approval from the UK’s Medicines and Healthcare Regulatory Agency for Ogluo® (glucagon) injection, indicated for treating severe hypoglycemia in patients aged 2 and above with diabetes. Previously, Ogluo was approved by the European Commission in February 2021. The marketing authorization is recognized in the UK and 27 EU countries. Xeris is actively seeking commercialization partners, aiming for a fourth quarter 2021 launch in select EU regions. Gvoke, a similar product, was FDA-approved in September 2019.
Xeris Pharmaceuticals, Inc. (Nasdaq: XERS) announced the grant of 15,250 restricted stock units to 10 new employees on March 31, 2021. This action was made under Xeris' Inducement Equity Plan, which incentivizes new hires with equity awards. The stock options will vest over four years, with specific vesting schedules tied to continued employment. Xeris specializes in ready-to-use injectable and infusible drug formulations, aimed at improving patient and healthcare experiences.