Xeris Pharmaceuticals ( (XERS) ) has released its Q3 earnings. Here is a breakdown of the information Xeris Pharmaceuticals presented to its investors.
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Xeris Biopharma Holdings, Inc. is a growth-oriented biopharmaceutical company focused on developing and commercializing innovative products to improve patient lives, with a strong presence in the treatment of severe hypoglycemia, primary periodic paralysis, and endogenous Cushing’s syndrome.
Xeris Biopharma recently reported a record-breaking third quarter in 2024, achieving total revenue of $54.3 million, driven by robust demand for its key products, Recorlev and Gvoke. The company raised its full-year revenue guidance, reflecting confidence in its continued growth trajectory.
The financial highlights for the third quarter included a 27% increase in product revenue compared to the previous year, with notable contributions from Recorlev, which saw a 119% revenue increase. Despite a decrease in royalty and contract revenues, total revenue grew by 12.3% year-over-year. The company maintained a stable level of operating expenses, excluding non-routine charges, and ended the quarter with a cash reserve of $69.4 million.
Looking ahead, Xeris aims to sustain its momentum by focusing on greater than 20% product revenue growth, advancing its pipeline, particularly with its Phase 3 ready product XP-8121, and ensuring financial stability without the need for additional financing.
Xeris Biopharma’s management remains optimistic about the company’s future prospects, supported by strategic investments and a commitment to expanding its market presence and product offerings.
