Xeris Biopharma raises FY24 revenue view to $203M from $198M-$202M

Consensus $199.7M. Xeris Biopharma (XERS) announced it expects to generate FY24 revenue of $203M, which will exceed previously announced 2024 total revenue guidance of $198M to $202M. The company also anticipates ending 2024 with over $71M in cash, cash equivalents, and short-term investments, generating positive cash flow in the fourth quarter. “We achieved another record quarter of exceptional total revenue growth with revenues expected to be $60 million for the fourth quarter and $203 million for the full year representing growth of 35% and 24%, respectively. These impressive results are driven by accelerating demand for Recorlev and continued strong Gvoke demand,” said John Shannon, CEO of Xeris. “Our focus remains on continuing to drive exceptional product revenue growth and advancing our robust pipeline – namely our Phase 3 ready, XP-8121 program. With our commercial engine leading the way and our strong balance sheet, we are well positioned for a transformational 2025.”