Business
Xeris Pharmaceuticals Reports Third Quarter 2020 Financial Results and Corporate Highlights
Gvoke® net sales grew 370% quarter over quarter to $9.4 million driven by launch of Gvoke HypoPen® Company to host a conference call and webcast today at
About this update from Xeris Biopharma Holdings, Inc.
[{"type":"text","content":"\nGvoke® net sales grew 370% quarter over quarter to $9.4 million driven by launch of Gvoke HypoPen®\n\nCompany to host a conference call and webcast today at 8:30 a.m. ET\n\n CHICAGO--(BUSINESS WIRE)--\nXeris Pharmaceuticals, Inc. (Nasdaq: XERS), a specialty pharmaceutical company leveraging its novel formulation technology platforms to develop and commercialize ready-to-use (RTU) injectable and infusible drug formulations, today announced financial results for the third quarter and nine months ended September 30, 2020, as well as pipeline and corporate highlights.\n\n“The third quarter results showed the tremendous response from the diabetes community to the highly anticipated launch of our Gvoke HypoPen. Across the country, prescriptions have grown steadily even in the midst of the ongoing pandemic as families have sought to have the rapid and reliable profile of the Gvoke HypoPen readily available in the event of a hypoglycemic episode,” said Paul R. Edick, Xeris’ Chairman and Chief Executive Officer. “As we look ahead to early next year, we anticipate a European regulatory decision on our ready-to-use glucagon for severe hypoglycemia and three FDA meetings for post-bariatric hypoglycemia, exercise-induced hypoglycemia, and pramlintide-insulin for diabetes blood sugar control.”\n\nThird Quarter 2020 Highlights and Recent Events\n\nGvoke®\n\n\nIn July, Xeris successfully launched its Gvoke HypoPen, the first premixed, RTU liquid glucagon auto-injector for very low blood sugar, with a $0 copay offer for commercially insured patients, which continues to date.\n\n\nAt launch and to date, approximately 80% of patients have unrestricted access to Gvoke across all insurance types.\n\n\nGvoke prescriptions grew approximately 140% quarter over quarter according to third-party databases. However, the Company believes that these third-party databases do not accurately capture underlying product demand and that Gvoke third quarter 2020 prescription growth may be understated. This is likely due to the estimated nature of prescription growth in these databases, particularly in the launch phase of new products such as Gvoke HypoPen.\n\n\nPipeline Programs\n\n\nIn July, Xeris reported additional data from its Phase 1b study of its investigational RTU diazepam formulation in healthy volunteers. The Company also announced it has determined a ...