Business
Xeris Biopharma Reports First Quarter 2023 Financial Results
Achieved first quarter total revenue of $33.2M representing 50% growth compared to Q1 2022 Ended Q1 2023 with $95.1M in cash, cash equivalents, and
About this update from Xeris Biopharma Holdings, Inc.
[{"type":"text","content":"\nAchieved first quarter total revenue of $33.2M representing 50% growth compared to Q1 2022\n\n\nEnded Q1 2023 with $95.1M in cash, cash equivalents, and short-term investments\n\n\nAffirms 2023 guidance: total revenue of $135M-$165M; cash utilization from operating activities of $57M-$77M; year-end cash, cash equivalents, and short-term investments of $45M-$65M\n\n\nAnnounced research collaboration and option agreement with Regeneron for XeriJect® formulation®\n\n\nRicki Fairley joined Board of Directors\n\n\nHosting conference call and webcast today at 8:30 a.m. ET\n\n\n CHICAGO--(BUSINESS WIRE)--\nXeris Biopharma Holdings, Inc. (Nasdaq: XERS), a growth-oriented biopharmaceutical company committed to improving patients’ lives by developing and commercializing innovative products across a range of therapies, today announced financial results for the first quarter ended March 31, 2023, and other corporate highlights.\n\n\n“We had a very strong start to 2023 with record total revenue, strong underlying patient demand in all three commercial products, and the addition of another XeriJect collaboration,” said Paul R. Edick, Chairman and CEO of Xeris Biopharma. “With continued steady and strong execution, we believe that we can achieve our 2023 revenue and year-end cash guidance and achieve cash flow breakeven in the fourth quarter this year.”\n\n\nFirst Quarter Highlights and Recent Events\n\n\n\n\n \n\n\n\n\n\n\nThree Months Ended March 31,\n\n\n\n\n\n\n \n\n\n\n\n\n\nChange\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n2022\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\nProduct revenue (in thousands):\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nGvoke\n\n\n\n\n\n\n$\n\n\n\n\n\n\n15,033\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n12,452\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n2,581\n\n\n\n\n\n\n20.7\n\n\n\n\n\n\n\n\nKeveyis\n\n\n\n\n\n\n \n\n\n\n\n\n\n12,755\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n9,324\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n3,431\n\n\n\n\n\n\n36.8\n\n\n\n\n\n\n\n\nRecorlev\n\n\n\n\n\n\n \n\n\n\n\n\n\n4,477\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n134\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n4,343\n\n\n\n\n\n\nnm\n\n\n\n\n\n\n\n\nProduct revenue, net\n\n\n\n\n\n\n \n\n\n\n\n\n\n32,265\n\n\n\n\n\n\n \n\n\n\...