Xeris Biopharma Holdings, Inc. (XERS): BCG Matrix [11-2024 Updated]

In the rapidly evolving landscape of biopharmaceuticals, Xeris Biopharma Holdings, Inc. (XERS) has carved out a notable presence with its diverse product portfolio. As we delve into the Boston Consulting Group Matrix, we'll uncover how Xeris' offerings are categorized into Stars, Cash Cows, Dogs, and Question Marks. Each segment reveals critical insights about their market performance, growth potential, and challenges. Join us as we explore the dynamics of Xeris' business and what the future may hold.

Background of Xeris Biopharma Holdings, Inc. (XERS)

Xeris Biopharma Holdings, Inc. ('Xeris Biopharma' or the 'Company') is a growth-oriented biopharmaceutical company dedicated to improving patients' lives by developing and commercializing clinically meaningful products across various therapeutic areas. The Company is particularly focused on addressing unmet medical needs through its innovative drug delivery technologies and proprietary formulations, specifically its XeriSol and XeriJect platforms.

As of 2024, Xeris has three commercially available products:

• Gvoke: A ready-to-use, liquid-stable glucagon for treating severe hypoglycemia, indicated for pediatric and adult patients with diabetes aged 2 years and older. The estimated total addressable market for Gvoke in the United States is approximately $5.0 billion.
• Recorlev: A cortisol synthesis inhibitor approved for treating endogenous hypercortisolemia in adult patients with Cushing's syndrome, particularly for those for whom surgery is not an option. This product was approved by the FDA in December 2021, with an estimated addressable market of about $3.0 billion.
• Keveyis: The first therapy approved in the United States for treating hyperkalemic, hypokalemic, and related variants of Primary Periodic Paralysis (PPP), a rare genetic neuromuscular disorder. The estimated addressable market for Keveyis exceeds $0.5 billion.

The Company’s name, Xeris, is derived from the ancient Greek word 'xērós,' meaning 'dry' or 'without water/non-aqueous.' This reflects its proprietary formulation capabilities designed to facilitate the convenient injection of medicines that are typically challenging to deliver using traditional aqueous methods. XeriSol and XeriJect allow for the development of ready-to-use, room-temperature stable, highly concentrated injectable formulations suitable for subcutaneous or intramuscular administration.

Xeris Biopharma was formed following the acquisition of Strongbridge Biopharma plc on October 5, 2021. Since then, the Company has been positioned to leverage its proprietary formulation science not only for its products but also in partnerships with other pharmaceutical and biotechnology companies, enhancing the formulations of their proprietary drugs and biologics.

As of September 30, 2024, Xeris reported an accumulated deficit of $666.7 million, reflecting its ongoing investment in research, development, and commercialization activities. The Company continues to face significant operating losses, with net losses of $49.7 million for the nine months ended September 30, 2024, compared to $48.9 million for the same period in 2023.

Xeris Biopharma Holdings, Inc. (XERS) - BCG Matrix: Stars

Gvoke shows strong prescription growth, with Q3 revenue up 29.4% YoY.

For the three months ended September 30, 2024, Gvoke generated net revenue of $22.9 million, a 29.4% increase compared to $17.7 million in the same period in 2023. This growth was primarily driven by a volume increase of $3.8 million (21.5%) due to higher prescriptions and favorable net pricing contributing an additional $1.4 million (7.9%).

Recorlev has experienced a remarkable 118.9% revenue increase in Q3 2024 compared to Q3 2023.

Recorlev's net revenue rose to $17.7 million in Q3 2024, marking a significant 118.9% increase from $8.1 million in Q3 2023. The revenue surge is attributed to a volume increase of $9.0 million (111.6%) and favorable net pricing which added $0.6 million (7.3%).

Both products have significant total addressable markets, estimated at $5 billion for Gvoke and $3 billion for Recorlev.

The total addressable market for Gvoke is estimated at $5 billion, while Recorlev's total addressable market is approximately $3 billion. This substantial market potential supports the strategic positioning of both products as Stars within Xeris Biopharma's portfolio.

Ongoing R&D investments to enhance product offerings and pipeline expansion.

Research and development expenses for Q3 2024 totaled $5.9 million, up 17.0% from $5.0 million in Q3 2023. This increase reflects higher spending on pipeline projects, particularly for XP-8121, which received $0.4 million in funding as part of the ongoing development efforts.

Positive Phase 1 data from XP-8121 indicates potential for future growth in the hypothyroidism market.

XP-8121 has shown promising Phase 1 data, indicating slower absorption and lower peak plasma levels compared to existing treatments. The subcutaneous dosing strategy has demonstrated a favorable safety profile, with a significant portion of participants expressing a preference for this method over traditional oral administration.