Business
Xeris Biopharma Reports Third Quarter 2021 Financial Results and Other Highlights
Acquisition of Strongbridge Biopharma closed October 5, 2021; integration complete Q3 pro forma net sales of $22.5M: Gvoke® and Keveyis® $11.0M and $11.5M,
About this update from Xeris Biopharma Holdings, Inc.
[{"type":"text","content":"\nAcquisition of Strongbridge Biopharma closed October 5, 2021; integration complete\n\nQ3 pro forma net sales of $22.5M: Gvoke® and Keveyis® $11.0M and $11.5M, respectively\n\nGvoke and Keveyis net sales grew 19% compared to Q2 2021 and combined are on track to achieve $76M to $80M full year 2021 net sales\n\nOn track to realize $50M in synergies; anticipates year-end cash, cash equivalents, and investments of approximately $100M\n\nAchieved 12-month interest-only extension on Oxford/SVB debt facility, deferring approximately $17M in principal repayment to 2023\n\nConference 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, and Xeris Pharmaceuticals, Inc., today announced financial results for the third quarter and first nine months ended September 30, 2021, and recent highlights, including the completion of the Strongbridge Biopharma plc acquisition on October 5, 2021.\n\n“Continued strong demand for both Gvoke and Keveyis resulted in outstanding growth in third quarter, recording pro forma net sales of $22.5 million. Our two commercial brands are now on track to achieve a combined $76-80 million in full year revenue,” said Paul R. Edick, Chairman and CEO of Xeris Biopharma. \"Since the closing of the Strongbridge acquisition in early October, we have completed integration of the operations. We are operating as one company and are on track to realize $50 million in synergies, while at the same time intensely preparing for the potential commercial launch of Recorlev. We are in a strong cash position to drive continued growth of Gvoke and Keveyis, prepare for and launch Recorlev in Q1 2022, if approved, and continue to advance our pipeline products.”\n\nThird Quarter 2021 Highlights and Recent Events\n\nMarketed Products\n\n\nGvoke: Third quarter 2021 prescriptions topped 27,000 for the first time, growing more than 28% from the prior quarter and 95% compared to the same period in 2020. Gvoke’s NRx share of the retail glucagon market grew to approximately 18% during the third quarter. Gvoke YTD revenue more than doubled to $27.9 million when compared to the same nine-month period in 2020. Also in the third quarter...