XERS News & Events

Xeris Pharmaceuticals announced that the United States Patent and Trademark Office, or USPTO, has issued a notice of allowance with respect to U.S. Patent Application No. 17/151,405, entitled "Compositions and Methods of Use." The allowed claims in this application cover the use of the company's Keveyis product. The notice of allowance indicates that the USPTO has determined that the application meets the requirements for patentability and is expected to issue as a U.S. patent following the completion of standard administrative steps. Following this issuance, the company will submit the patent to the FDA for listing in the FDA's publication "Approved Drug Products with Therapeutic Equivalence Evaluations", commonly known as the Orange Book. Assuming that all necessary actions are taken and all maintenance fees are paid, this new patent will provide intellectual property protection for Keveyis through 2039.

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.

Reports Q1 revenue $83.1M, consensus $80.0M. "We are thrilled with our outstanding start to 2026, delivering first quarter net product revenue growth of 43%, reflecting the successful execution of our strategy," said John Shannon, CEO. "Recorlev was the standout performer, with net revenue nearly doubling year-over-year, driven by growth across our patient base and increased awareness across the prescriber base. Also in the quarter, we successfully completed the expansion of our commercial team, and we expect the impact of these targeted investments to become more evident in the second half of 2026 and beyond. Looking ahead, we remain confident in our ability to deliver on our full-year financial targets. Recorlev's strong Q1 and continued momentum gives us the confidence to raise the bottom end of our full year 2026 total revenue guidance. Our updated guidance of $380 million to $390 million represents more than 30% growth at the midpoint. Beyond our commercial execution, 2026 represents a pivotal year for our pipeline, with the anticipated Phase 3 initiation of XP-8121 later in the year marking a significant value creation inflection point. Our strong financial foundation enables us to advance these strategic priorities while creating sustainable long-term value for shareholders."

Sees FY26 adjusted EBITDA to increase in total dollars compared to FY25. "Our exceptional results in 2025 reflect the strength of our business and set the stage for our future," said Steve Pieper, CFO. "As we look ahead to 2026, we will build on the strong momentum across our enterprise and expect total revenue to range from approximately $375 million to $390 million, representing more than 30% growth at the midpoint. This outlook will further strengthen our balance sheet, which will create even more financial flexibility to drive value in both the near and long term."