Xeris Biopharma Repurchases Convertible Notes for $23 Million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 11 2026
0mins
Xeris Biopharma entered into separate, privately negotiated exchange agreements with certain holders of its 8.00% Convertible Senior Notes due 2028. Pursuant to the exchange agreements, Xeris has agreed, subject to customary closing conditions, to retire approximately $23M aggregate principal amount of the Notes for exchange consideration consisting of approximately $23M in cash and a number of shares of its common stock that will be determined based upon the volume-weighted average price per share of Xeris' common stock over a 21 trading day averaging period commencing on June 11. Assuming the per share volume-weighted average price of Xeris' common stock during each day of the averaging period is $6.71, Xeris expects to issue an aggregate of approximately 4.6M shares of common stock upon consummation of the exchanges. Following the closing of the exchanges, Xeris will have $10.5M in aggregate principal amount of the Notes outstanding. Morgan Stanley acted as placement agent to the Company in connection with the exchanges.
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Analyst Views on XERS
Wall Street analysts forecast XERS stock price to rise
4 Analyst Rating
4 Buy
0 Hold
0 Sell
Strong Buy
Current: 6.900
Low
9.00
Averages
9.67
High
10.00
Current: 6.900
Low
9.00
Averages
9.67
High
10.00
About XERS
Xeris Biopharma Holdings, Inc. is a biopharmaceutical company focused on improving patient lives by developing and commercializing products across a range of therapies. It has three commercially available products: Recorlev, Gvoke, and Keveyis. Recorlev is for the treatment of endogenous Cushing’s syndrome. Gvoke is a ready-to-use liquid glucagon for the treatment of severe hypoglycemia. Keveyis is a therapy for primary periodic paralysis. It also has a pipeline of development programs led by XP-8121, a phase III-ready, once-weekly subcutaneous injection for hypothyroidism. It is pursuing formulation and development partnerships to apply its XeriSol and XeriJect formulation technologies to enhance the drug delivery and clinical profile of other companies’ proprietary drugs and biologics. Recorlev is a cortisol synthesis inhibitor approved for the treatment of endogenous hypercortisolemia in adults with Cushing's syndrome for whom surgery is not an option or has not been curative.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Xeris Biopharma Agrees to Retire $23M Convertible Notes
- Debt Repurchase Plan: Xeris Biopharma has agreed to retire approximately $23 million of its 8% convertible notes through privately negotiated exchanges, indicating a proactive adjustment in its financial structure.
- Share Issuance Expectations: Assuming a volume-weighted average price of $6.71 for Xeris' common stock during the 21 trading days starting June 11, 2026, the company expects to issue about 4.6 million shares, which will further dilute existing shareholders.
- Remaining Debt Situation: After the transaction closes, Xeris will have approximately $10.5 million of convertible notes outstanding, which will help improve the company's financial health and reduce future interest burdens.
- Market Reaction: Despite the company's proactive debt management measures, XERS shares fell 2% in premarket trading, reflecting market caution regarding the company's future growth potential.
See More
Xeris Biopharma Reduces Debt by $23 Million
- Debt Reduction Plan: Xeris Biopharma successfully reduces approximately $23 million in debt through agreements with holders of its 8.00% Convertible Senior Notes, which is expected to save about $2 million annually in interest expenses, thereby improving the company's financial health.
- Stock Issuance Details: The debt exchange will involve $23 million in cash and approximately 4.6 million shares of common stock as exchange consideration, with the number of shares determined based on the volume-weighted average price over a 21 trading day period starting June 11, 2026, showcasing the company's flexibility in optimizing its capital structure.
- Future Outlook: After the debt exchange, Xeris will have $10.5 million in remaining Convertible Notes, which not only alleviates financial burdens but also provides more funding for future investments and R&D, enhancing the company's competitive position in the market.
- Market Reaction: Morgan Stanley acted as the placement agent for this transaction, indicating market confidence in Xeris, and this debt restructuring is expected to enhance investor recognition of the company's growth potential, further driving stock price appreciation.
See More
Market Sentiment Shift Impacts Multiple Stocks
- Media Industry Challenges: Thomson Reuters indicates that the media sector has been severely impacted by AI, leading to diminished confidence in future performance, which could adversely affect advertising revenues and market share.
- Xeris Biopharma Outlook: Xeris Biopharma Holdings emphasizes the significance of its injectable products, and despite facing market competition, its unique product positioning may present growth opportunities in the future.
- Nebius Stock Pullback: Once a favorite among investors, Nebius's appeal has waned due to a deteriorating market environment, prompting investors to reassess their investment strategies regarding the stock.
- Carnival Corporation Valuation: Carnival Corporation is viewed as an undervalued investment option, although analysts favor Viking for long-term performance, which may impact Carnival's market positioning and investor confidence.
See More
Xeris Biopharma Reports Strong Q1 2026 Earnings Growth
- Significant Revenue Growth: Xeris Biopharma reported a 43% year-over-year increase in net product revenue for Q1, exceeding $82 million, primarily driven by Recorlev's nearly doubled revenue of $49.8 million, indicating strong market performance and growth potential.
- Guidance Revision Upwards: Management raised the 2026 revenue guidance to a range of $380 million to $390 million due to robust demand for Recorlev, reflecting confidence in future performance and positioning the company favorably in a competitive market.
- Increased R&D and SG&A Spending: CFO highlighted expected increases in R&D expenses by approximately $25 million year-over-year and SG&A expenses by about $45 million, indicating the company's commitment to investing in product development and market expansion to support future growth.
- Gvoke Performance Weakness: Despite overall strong results, Gvoke's revenue fell slightly below expectations due to Medicare policy changes, with management anticipating a recovery in the coming months, demonstrating the company's sensitivity to market dynamics and its ability to adapt.
See More
Xeris Pharmaceuticals Q1 Earnings Beat Expectations
- Profitability Improvement: Xeris Pharmaceuticals reported a Q1 GAAP EPS of $0.01, beating expectations by $0.02, indicating a significant enhancement in profitability and reflecting the effectiveness of its business model.
- Significant Revenue Growth: The company achieved revenues of $82 million in Q1, a 36.4% year-over-year increase, surpassing expectations by $2.01 million, demonstrating strengthened market competitiveness, particularly in the successful expansion of Recorlev.
- Expense Increase: Selling, general, and administrative expenses rose by $9.1 million or 21% year-over-year, primarily due to higher personnel-related costs to support commercial operations, which may impact margins in the short term but lays the groundwork for long-term growth.
- Net Income Turnaround: The net income for Q1 was $2.2 million, compared to a net loss of $9.2 million in the same period last year, showcasing a significant improvement in the company's financial health and boosting investor confidence in future growth.
See More
Xeris Pharmaceuticals to Announce Q1 Earnings on May 7
- Earnings Announcement: Xeris Pharmaceuticals is set to release its Q1 2023 earnings on May 7 before market open, with consensus EPS estimated at -$0.00 and revenue projected at $79.99 million, reflecting a 33.1% year-over-year growth potential.
- Earnings Estimate Changes: Over the last three months, Xeris has seen no upward revisions and one downward revision in EPS estimates, while revenue estimates have experienced one upward and two downward revisions, indicating mixed market sentiment regarding the company's future performance.
- Growth Projections: Xeris targets over 30% revenue growth in 2026, suggesting that its strategic investments in Recorlev and advancements in XP-8121 could yield significant financial returns, enhancing its market position.
- Industry Conference Participation: Xeris Biopharma presented at the Barclays 28th Annual Global Healthcare Conference, increasing market interest in its drug portfolio potential and demonstrating the company's active engagement and influence within the industry.
See More
Xeris Biopharma Agrees to Retire $23M Convertible Notes
- Debt Repurchase Plan: Xeris Biopharma has agreed to retire approximately $23 million of its 8% convertible notes through privately negotiated exchanges, indicating a proactive adjustment in its financial structure.
- Share Issuance Expectations: Assuming a volume-weighted average price of $6.71 for Xeris' common stock during the 21 trading days starting June 11, 2026, the company expects to issue about 4.6 million shares, which will further dilute existing shareholders.
- Remaining Debt Situation: After the transaction closes, Xeris will have approximately $10.5 million of convertible notes outstanding, which will help improve the company's financial health and reduce future interest burdens.
- Market Reaction: Despite the company's proactive debt management measures, XERS shares fell 2% in premarket trading, reflecting market caution regarding the company's future growth potential.
See More
Xeris Biopharma Reduces Debt by $23 Million
- Debt Reduction Plan: Xeris Biopharma successfully reduces approximately $23 million in debt through agreements with holders of its 8.00% Convertible Senior Notes, which is expected to save about $2 million annually in interest expenses, thereby improving the company's financial health.
- Stock Issuance Details: The debt exchange will involve $23 million in cash and approximately 4.6 million shares of common stock as exchange consideration, with the number of shares determined based on the volume-weighted average price over a 21 trading day period starting June 11, 2026, showcasing the company's flexibility in optimizing its capital structure.
- Future Outlook: After the debt exchange, Xeris will have $10.5 million in remaining Convertible Notes, which not only alleviates financial burdens but also provides more funding for future investments and R&D, enhancing the company's competitive position in the market.
- Market Reaction: Morgan Stanley acted as the placement agent for this transaction, indicating market confidence in Xeris, and this debt restructuring is expected to enhance investor recognition of the company's growth potential, further driving stock price appreciation.
See More
Market Sentiment Shift Impacts Multiple Stocks
- Media Industry Challenges: Thomson Reuters indicates that the media sector has been severely impacted by AI, leading to diminished confidence in future performance, which could adversely affect advertising revenues and market share.
- Xeris Biopharma Outlook: Xeris Biopharma Holdings emphasizes the significance of its injectable products, and despite facing market competition, its unique product positioning may present growth opportunities in the future.
- Nebius Stock Pullback: Once a favorite among investors, Nebius's appeal has waned due to a deteriorating market environment, prompting investors to reassess their investment strategies regarding the stock.
- Carnival Corporation Valuation: Carnival Corporation is viewed as an undervalued investment option, although analysts favor Viking for long-term performance, which may impact Carnival's market positioning and investor confidence.
See More
Xeris Biopharma Reports Strong Q1 2026 Earnings Growth
- Significant Revenue Growth: Xeris Biopharma reported a 43% year-over-year increase in net product revenue for Q1, exceeding $82 million, primarily driven by Recorlev's nearly doubled revenue of $49.8 million, indicating strong market performance and growth potential.
- Guidance Revision Upwards: Management raised the 2026 revenue guidance to a range of $380 million to $390 million due to robust demand for Recorlev, reflecting confidence in future performance and positioning the company favorably in a competitive market.
- Increased R&D and SG&A Spending: CFO highlighted expected increases in R&D expenses by approximately $25 million year-over-year and SG&A expenses by about $45 million, indicating the company's commitment to investing in product development and market expansion to support future growth.
- Gvoke Performance Weakness: Despite overall strong results, Gvoke's revenue fell slightly below expectations due to Medicare policy changes, with management anticipating a recovery in the coming months, demonstrating the company's sensitivity to market dynamics and its ability to adapt.
See More
Xeris Pharmaceuticals Q1 Earnings Beat Expectations
- Profitability Improvement: Xeris Pharmaceuticals reported a Q1 GAAP EPS of $0.01, beating expectations by $0.02, indicating a significant enhancement in profitability and reflecting the effectiveness of its business model.
- Significant Revenue Growth: The company achieved revenues of $82 million in Q1, a 36.4% year-over-year increase, surpassing expectations by $2.01 million, demonstrating strengthened market competitiveness, particularly in the successful expansion of Recorlev.
- Expense Increase: Selling, general, and administrative expenses rose by $9.1 million or 21% year-over-year, primarily due to higher personnel-related costs to support commercial operations, which may impact margins in the short term but lays the groundwork for long-term growth.
- Net Income Turnaround: The net income for Q1 was $2.2 million, compared to a net loss of $9.2 million in the same period last year, showcasing a significant improvement in the company's financial health and boosting investor confidence in future growth.
See More
Xeris Pharmaceuticals to Announce Q1 Earnings on May 7
- Earnings Announcement: Xeris Pharmaceuticals is set to release its Q1 2023 earnings on May 7 before market open, with consensus EPS estimated at -$0.00 and revenue projected at $79.99 million, reflecting a 33.1% year-over-year growth potential.
- Earnings Estimate Changes: Over the last three months, Xeris has seen no upward revisions and one downward revision in EPS estimates, while revenue estimates have experienced one upward and two downward revisions, indicating mixed market sentiment regarding the company's future performance.
- Growth Projections: Xeris targets over 30% revenue growth in 2026, suggesting that its strategic investments in Recorlev and advancements in XP-8121 could yield significant financial returns, enhancing its market position.
- Industry Conference Participation: Xeris Biopharma presented at the Barclays 28th Annual Global Healthcare Conference, increasing market interest in its drug portfolio potential and demonstrating the company's active engagement and influence within the industry.
See More
