Xeris Biopharma Holdings, Inc. (XERS) Bundle
An Overview of Xeris Biopharma Holdings, Inc. (XERS)
General Overview of Xeris Biopharma Holdings, Inc. (XERS)
Xeris Biopharma Holdings, Inc. is a biopharmaceutical company that specializes in the development of innovative therapies for patients with endocrine disorders and other conditions requiring convenient and effective treatment options. Founded in 2005, Xeris has developed a proprietary formulation technology, XeriSol, which enables the development of ready-to-use injectable medications. The company's primary products include Gvoke (glucagon injection), Recorlev (levoketoconazole), and Keveyis (dichlorphenamide).
As of 2024, Xeris has reported total sales of approximately $139.6 million for the nine months ended September 30, 2024, compared to $110.9 million during the same period in 2023, showcasing significant growth driven primarily by increased sales of Gvoke and Recorlev.
Company's Financial Performance in the Latest Financial Reports
In the latest financial report for the three months ended September 30, 2024, Xeris Biopharma reported total revenue of $54.3 million, an increase from $48.3 million for the same period in 2023. Key highlights from the report include:
- Product Revenue: Net revenue from product sales was $52.9 million, representing an increase of 27.0% year-over-year.
- Gvoke Revenue: Gvoke sales increased by $5.2 million or 29.4% for the three months ended September 30, 2024, compared to the same period in 2023, driven by prescription growth and favorable net pricing.
- Recorlev Revenue: Recorlev net revenue increased by $9.6 million or 118.9% for the three months ended September 30, 2024, compared to the same period in 2023, reflecting higher prescription volume and pricing adjustments.
- Cost of Goods Sold: The cost of goods sold increased to $13.6 million for the three months ended September 30, 2024, up from $8.2 million in the prior year.
- Net Loss: The company reported a net loss of $15.7 million for the three months ended September 30, 2024, compared to a net loss of $12.2 million for the same period in 2023.
Xeris also reported an accumulated deficit of $666.7 million as of September 30, 2024, continuing its trend of operating losses since inception.
Introduction to Xeris Biopharma as an Industry Leader
Xeris Biopharma Holdings, Inc. has positioned itself as a leader in the biopharmaceutical industry, particularly through its innovative product offerings and proprietary technology. The company’s ability to deliver ready-to-use medications has set it apart in the treatment of endocrine disorders. With an extensive patent portfolio, including 179 patents globally, Xeris is well-equipped to maintain its competitive edge.
As Xeris continues to expand its market presence, the company is expected to focus on increasing the commercialization of Gvoke, Recorlev, and Keveyis, alongside further research and development efforts to enhance its product pipeline. Investors and stakeholders are encouraged to explore Xeris's growth strategies and performance metrics to understand the factors contributing to its success in the biopharmaceutical landscape.
| Financial Metric | Q3 2024 | Q3 2023 | Change (%) | YTD 2024 | YTD 2023 | Change (%) |
|---|---|---|---|---|---|---|
| Total Revenue | $54.3 million | $48.3 million | 12.4% | $142.9 million | $119.5 million | 19.5% |
| Net Loss | $(15.7) million | $(12.2) million | 29.1% | $(49.7) million | $(48.9) million | 1.6% |
| Gvoke Revenue | $22.8 million | $17.6 million | 29.4% | $61.5 million | $50.3 million | 22.2% |
| Recorlev Revenue | $17.5 million | $8.0 million | 118.9% | $37.6 million | $15.7 million | 139.5% |
Mission Statement of Xeris Biopharma Holdings, Inc. (XERS)
Mission Statement of Xeris Biopharma Holdings, Inc. (XERS)
Xeris Biopharma Holdings, Inc. (XERS) is committed to transforming the treatment landscape for patients with complex and chronic conditions through innovative drug delivery solutions. Their mission statement reflects a dedication to improving patient outcomes by providing high-quality, reliable products that meet the needs of healthcare providers and patients alike.
Core Components of the Mission Statement
1. Commitment to Innovation
Xeris emphasizes its dedication to innovation in drug delivery. This commitment is evidenced by their proprietary technology platforms, such as XeriSol and XeriJect, which allow for the development of ready-to-use formulations. For instance, the successful launch of Gvoke, a glucagon product for severe hypoglycemia, showcases their innovative approach to solving real-world medical challenges. In 2024, Xeris reported a total revenue of $54.3 million, reflecting a 12.4% increase from $48.3 million in 2023, driven largely by the adoption of Gvoke in clinical settings.
2. Focus on Patient-Centric Solutions
The company prioritizes patient needs through the development of products that enhance patient experience and adherence to treatment regimens. Xeris's focus on user-friendly administration methods, such as the subcutaneous delivery of XP-8121, demonstrates their commitment to making healthcare more accessible. In clinical trials, XP-8121 showed significant patient preference, with 72% of participants favoring its subcutaneous route over traditional oral administration.
3. Commitment to Quality and Reliability
Xeris's mission statement underscores the importance of quality in their product offerings. The company has implemented rigorous quality control processes to ensure that all products meet high standards of safety and efficacy. As of September 30, 2024, the company reported an increase in the cost of goods sold to $27.4 million, up from $21.1 million in 2023, reflecting their investment in maintaining quality during production. This commitment is further supported by their operational metrics, which include significant investments in research and development amounting to $19.5 million for the nine months ended September 30, 2024.
| Financial Metrics | 2024 Amount | 2023 Amount | Change (%) |
|---|---|---|---|
| Total Revenue | $54.3 million | $48.3 million | +12.4% |
| Cost of Goods Sold | $27.4 million | $21.1 million | +29.6% |
| Research and Development Expenses | $19.5 million | $15.9 million | +22.0% |
In summary, Xeris Biopharma Holdings, Inc.'s mission statement is a reflection of its strategic focus on innovation, patient-centric solutions, and unwavering commitment to quality. These core components not only guide the company’s operational strategies but also shape its long-term goals in the biopharmaceutical landscape.
Vision Statement of Xeris Biopharma Holdings, Inc. (XERS)
Vision Statement of Xeris Biopharma Holdings, Inc. (XERS)
The vision of Xeris Biopharma Holdings, Inc. as of 2024 is centered around the commitment to improve the lives of patients through innovative biopharmaceutical solutions. This vision emphasizes their goal to be a leader in delivering unique and effective treatment options, particularly in the management of chronic conditions.
Innovative Solutions
Xeris aims to revolutionize the delivery of medications through its proprietary technology platforms, XeriSol and XeriJect. These platforms enable the formulation of drugs that enhance patient compliance and therapeutic outcomes. As of 2024, the company continues to focus on research and development, which accounted for $19.5 million in expenses for the nine months ended September 30, 2024, representing a 22% increase compared to the same period in 2023.
Commitment to Patients
The company’s vision includes a strong commitment to patient-centric approaches. Xeris strives to address unmet medical needs by providing medications that are easier to administer and more effective. The net revenue from its key products, Gvoke and Recorlev, has shown significant growth, with Gvoke's revenue increasing by 29.4% year-over-year for the three months ended September 30, 2024. This reflects the company's dedication to enhancing patient access to critical therapies.
Strategic Partnerships
Xeris Biopharma actively seeks strategic partnerships to expand its reach and capabilities. Collaborations with healthcare providers and research organizations are pivotal in advancing their product pipeline. The company reported total revenue of $54.3 million for the three months ended September 30, 2024, showing substantial growth from previous years, driven by its strategic initiatives.
Financial Health and Growth
Xeris is focused on maintaining a robust financial position to support its vision. As of September 30, 2024, the company reported total assets of $321.1 million, with cash and cash equivalents totaling $59.2 million. Despite a net loss of $49.7 million for the nine months ended September 30, 2024, the company is well-positioned to invest in future growth opportunities and product development.
| Financial Metrics | Q3 2024 | Q3 2023 | Year-to-Date 2024 | Year-to-Date 2023 |
|---|---|---|---|---|
| Total Revenue | $54.3 million | $48.3 million | $142.9 million | $119.5 million |
| Research and Development Expenses | $5.9 million | $5.0 million | $19.5 million | $16.0 million |
| Net Loss | $(15.7) million | $(12.2) million | $(49.7) million | $(48.9) million |
| Cash and Cash Equivalents | $59.2 million | $67.4 million | N/A | N/A |
Future Aspirations
Xeris Biopharma is poised to continue its trajectory of innovation and growth. The company’s vision for the future includes expanding its product offerings and enhancing its technology platforms to meet evolving patient needs. As of 2024, Xeris remains committed to its mission of improving patient outcomes through advanced biopharmaceutical solutions.
Core Values of Xeris Biopharma Holdings, Inc. (XERS)
Integrity
Integrity is a fundamental value at Xeris Biopharma Holdings, Inc. (XERS). It emphasizes the importance of honesty, accountability, and ethical behavior in all business dealings.
Xeris demonstrates its commitment to integrity through rigorous compliance programs and transparent reporting practices. For instance, in their latest quarterly report, the company disclosed a net loss of $49.7 million for the nine months ended September 30, 2024, highlighting their transparency in financial reporting.
Innovation
Innovation is at the core of Xeris's mission to develop advanced biopharmaceuticals. The company invests heavily in research and development to bring novel therapies to market.
In the nine months ended September 30, 2024, Xeris reported research and development expenses of $19.5 million, a 22% increase from the previous year. This investment reflects their dedication to advancing their product pipeline, including Gvoke and Recorlev, which have shown significant revenue growth—Recorlev's net revenue increased by 118.9% in Q3 2024 compared to Q3 2023.
Collaboration
Collaboration is essential for Xeris, fostering partnerships that enhance their research capabilities and market reach.
For example, the company has engaged in strategic collaborations to support the commercialization of its products. As of September 30, 2024, Xeris has utilized $100 million in term loans from its Amended and Restated Credit Agreement to bolster its operational capacity, demonstrating a collaborative approach to financial management.
Patient-Centricity
Patient-Centricity is a guiding principle for Xeris, ensuring that their products address the needs of patients effectively.
The company’s focus on patient outcomes is evident in the positive feedback from clinical trials for its products. In a recent study, participants expressed a 72% preference for the subcutaneous administration of XP-8121 over traditional oral therapies, underscoring their commitment to improving patient experiences.
Excellence
Excellence drives Xeris's operational strategies, focusing on high standards in product development and corporate governance.
In the recent financial reports, Xeris has maintained a consistent commitment to excellence, as reflected in their comprehensive loss of $15.7 million for Q3 2024, compared to $12.2 million in Q3 2023. This commitment to excellence is also evident in their robust quality assurance processes, which are crucial in the pharmaceutical industry.
| Core Value | Description | Example of Commitment | Financial Impact |
|---|---|---|---|
| Integrity | Honesty and ethical behavior in business. | Transparent financial reporting. | Net loss of $49.7 million for 9M 2024 |
| Innovation | Investment in R&D for novel therapies. | Increased R&D expenses by 22% in 2024. | $19.5 million in R&D expenses for 9M 2024 |
| Collaboration | Partnerships that enhance capabilities. | Term loans to support operations. | $100 million from Amended Credit Agreement |
| Patient-Centricity | Focus on addressing patient needs. | Positive feedback in clinical trials. | 72% preference for XP-8121 over oral therapies |
| Excellence | High standards in product development. | Robust quality assurance processes. | Comprehensive loss of $15.7 million in Q3 2024 |
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Resources:
- Xeris Biopharma Holdings, Inc. (XERS) Financial Statements – Access the full quarterly financial statements for Q1 2025 to get an in-depth view of Xeris Biopharma Holdings, Inc. (XERS)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Xeris Biopharma Holdings, Inc. (XERS)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.