Business
Xeris Expects to Exceed Full-Year 2024 Financial Guidance
Full-year 2024 total revenue projected to be $203 million, exceeding previous guidance of $198-$202 million Year-end 2024 cash position expected to be over
About this update from Xeris Biopharma Holdings, Inc.
[{"type":"text","content":"\nFull-year 2024 total revenue projected to be $203 million, exceeding previous guidance of $198-$202 million\n\n\nYear-end 2024 cash position expected to be over $71 million, generating positive cash flow in the fourth quarter\n\n\nRecorlev® net revenue Q4 2024 anticipated to increase by approximately $5 million or 28% sequentially\n\n\n2024 financial results and 2025 outlook expected on March 6, 2025\n\n\n CHICAGO--(BUSINESS WIRE)--\nXeris Biopharma Holdings, Inc. (Nasdaq: XERS) today announced it expects to generate total 2024 revenue of $203 million, which will exceed previously announced 2024 total revenue guidance of $198 million to $202 million. The Company also anticipates ending 2024 with over $71 million in cash, cash equivalents, and short-term investments, generating positive cash flow in the fourth quarter.\n\n\n“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.”\n\n\nOther Fourth Quarter 2024 Updates\n\n\n\nRecorlev® achieved record number of new starts and referrals.\n\n\n\nGvoke® ended the year with approximately 35% market share.\n\n\n\nKeveyis® maintained a similar number of patients on therapy as Q3 2024.\n\n\n\nBeta Bionics, Inc.: Xeris successfully formulated a unique XeriSol® formulation of glucagon for bi-hormonal pumps and pump systems. This triggered a milestone payment of $3 million in the fourth quarter.\n\n\n\nAmgen: Amgen chose to terminate its exclusive worldwide license agreement with Xeris following a broader company portfolio assessment. Their decision was not related to the performance of the XeriJect® formulation technology. The termination will not have a material impact on Xeris’ outlook.\n\n\n\nAbout Xeris\n\n\nXeris (Nasdaq: XERS) is a growth-oriented biopharmaceutical company committed to improving patient li...