Xeris Biopharma Updates Its Outlook for 2023
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The company's announcement of expected cash flow positivity in the fourth quarter is a significant indicator of its operational efficiency and financial health. Achieving the high end of revenue guidance suggests strong sales performance and effective market penetration. The cash, cash equivalents and short-term investments exceeding projections provide a robust liquidity position, which is essential for funding ongoing operations and potential strategic initiatives. This financial cushion can be crucial in navigating economic downturns or investing in growth opportunities.
Investors should consider the implications of these figures in the context of the company's historical performance, industry benchmarks and future growth prospects. A higher cash reserve than anticipated may also indicate prudent financial management, possibly leading to increased investor confidence.
Reporting total revenue at the high end of the guidance range can reflect competitive strengths and effective demand-generation strategies. It is important to analyze the underlying drivers of revenue growth, such as new product adoption, market expansion, or pricing power. Additionally, these financial outcomes may influence market sentiment and stock valuation, potentially leading to re-rating if they significantly deviate from analyst expectations.
Understanding the sector's dynamics, including consumer behavior and competitive landscape, will be critical in assessing the sustainability of the company's revenue growth. Investors may also look for insights into market share gains or losses, which can be pivotal for long-term strategic positioning.
Being cash flow positive is an important economic indicator that the company is generating more cash than it is using, which is a healthy sign for sustainability and can fund future expansion without the need for external financing. The company's ability to exceed its cash and equivalents guidance suggests a strong macroeconomic position relative to its operational execution and financial planning.
In the broader economic context, this performance could be indicative of favorable industry trends or effective adaptation to macroeconomic challenges such as inflation or supply chain disruptions. An analysis of economic factors that may have contributed to the company's performance and how it might be positioned to handle potential economic headwinds or tailwinds, would be pertinent.
Company expects to be cashflow positive for the fourth quarter, report total revenue at the high end of its previous guidance of
Company to report Q4 and FY 2023 financial results on or about March 6, 2024
“With strong performance across our three commercial products, driving value from our various partnerships, coupled with disciplined expense management, we expect to generate positive cash flow in the fourth quarter, ending 2023 with over
About Xeris
Xeris (Nasdaq: XERS) is a growth-oriented biopharmaceutical company committed to improving patients’ lives by developing and commercializing innovative products across a range of therapies. Xeris has three commercially available products; Gvoke®, a ready-to-use liquid glucagon for the treatment of severe hypoglycemia, Keveyis®, a proven therapy for primary periodic paralysis, and Recorlev® for the treatment of endogenous Cushing’s syndrome. Xeris also has a pipeline of development programs to extend the current marketed products into important new indications and uses and bring new products forward using its proprietary formulation technology platforms, XeriSol™ and XeriJect®, supporting long-term product development and commercial success.
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 2023, including projections regarding year-end 2023 cash estimates and net product revenue, the financial outlook for 2024, including projections regarding revenue growth, operating expenses and year-end 2024 cash estimates, the timing of reporting fourth quarter and 2023 fiscal year financial results and full-year 2024 financial guidance, the ability to be a self-sustaining enterprise, the market and therapeutic potential of its products and product candidates, the potential utility of its formulation platforms, cash management 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 its most recently filed Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission, the contents of which are not incorporated by reference into, nor do they form part of, this communication. 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240104585894/en/
Allison Wey
Senior Vice President, Investor Relations and Corporate Communications
awey@xerispharma.com
Source: Xeris Biopharma Holdings, Inc.
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