Business
Xeris Biopharma Reports First Quarter Financial Results and Upcoming Events
Launched Recorlev® and Gvoke® Kit Achieved Q1 net product revenue of $21.9M – a 33% increase from same period prior year on a pro forma basis Ended Q1 with
About this update from Xeris Biopharma Holdings, Inc.
[{"type":"text","content":"\nLaunched Recorlev® and Gvoke® Kit\n\nAchieved Q1 net product revenue of $21.9M – a 33% increase from same period prior year on a pro forma basis\n\nEnded Q1 with $132.1M in cash, cash equivalents and short-term investments\n\nAffirming 2022 guidance for combined net product revenues of $105M - $120M, $50M in synergies, 2022 year-end cash balance of $90M-$110M, and cash flow breakeven by year-end 2023\n\nHosting conference call and webcast today at 8:30 a.m. ET\n\n CHICAGO--(BUSINESS WIRE)--\nXeris Biopharma Holdings, Inc. (Nasdaq: XERS), a biopharmaceutical company developing and commercializing unique therapies for patient populations in endocrinology, neurology, and gastroenterology today announced financial results for the first quarter and recent highlights.\n\n“We had another very good quarter in 1Q 2022 with continued increases in patients on Gvoke and Keveyis. In addition to this growth, we launched Recorlev and Gvoke Kit, and we added considerable cash to our balance sheet during the first three months of the year,” said Paul R. Edick, Chairman and CEO of Xeris Biopharma. “Our first quarter performance gives us confidence that we can achieve our 2022 revenue and year-end cash guidance and achieve cash flow breakeven by year-end 2023. We look forward to continuing our steady and strong execution across our commercial products and advancement of our development pipeline.”\n\nFirst Quarter Highlights and Upcoming Events\n\n\nGvoke®: First quarter 2022 prescriptions topped 30,000 for the first time, growing more than 88% compared to the same period in 2021. Gvoke’s market share of the retail TRx glucagon market grew to approximately 22% at the end of April. In March, Xeris launched Gvoke® Kit, the first ready-to-use liquid glucagon in a single dose vial and syringe kit for rescue.\n\n\nKeveyis®: The number of patients on Keveyis increased 12% from the same period in 2021.\n\n\nRecorlev®: In February 2022, Xeris launched Recorlev and is exclusively available through a specialty pharmacy. The Company has established Xeris CareConnection™, a comprehensive support program, which includes $0 co-pay for commercially insured patients, one-on-one support and education for patients, and reimbursement and access support.\n\n\nIn January, Xeris entered into a Securities Purchase Agreement with Armistice Capital Master Fund Ltd. for $...