At the opening of the regular session on Friday, shares of Xeris Biopharma Holdings Inc. (XERS) have gained 3.89% to trade at $1.86. Last trading session, XERS stock lost -1.64% to close at $1.80. XERS shares changed hands for 0.96 million shares, which is below the average daily volume for the last 50 days of 3.68 million shares.
XERS stock has lost -8.63% in the last five days; however, it has lost -24.05% in the last month. Over the last three months, XERS’ stock price has shed -41.37 percent and so far this year it has lost 63.41 percent. Following a collaboration agreement, the XERS stock opened higher from its previous close.
Who has XERS collaborated with?
Xeris is a biopharmaceutical company focused on the development and commercialization of unique therapies for patients in the fields of endocrinology, neurology, and gastroenterology. In addition to its products already approved by the FDA for treating primary periodic paralysis and severe hypoglycemia, XERS also offers Gvoke, a ready-to-use liquid glucagon.
As part of their development programs, XERS also plans to expand their current product lines into new indications and applications. Through the usage of XeriSol and XeriJect technology platforms, XERS is able to develop and market innovative new products over the long term.
Xeris Biopharma this week announced a partnership with Merck for the development of ultra-high concentration, on-demand formulations of monoclonal antibodies (mAbs) using XeriJect suspension-based formulation technology. It is not known what the terms of the agreement are.
- Large molecules, like monoclonal antibodies, can be delivered using the XeriJect platform.
- XERS has collaborated with top pharma companies to evaluate the XeriJect technology in a series of collaborations.
- XERS technology must be validated through these collaborations.
- XERS acknowledges that it will take time to complete the collaboration, so it is not essential to its near-term core business.
- In the event that Merck exercises the negotiated license agreement, they may prove to be very valuable to XERS.
- Gvoke and Keveyis continue to scale, and Recorlev is expected to be approved and launched sometime in the next few months. XERS’s novel technologies support pipeline developments, and Strongbridge’s acquisition of XERS will generate $50 million in synergies.
XERS’ other move:
The previously announced acquisition of Strongbridge Biopharma by Xeris Pharmaceuticals was successfully completed earlier this month. Following the acquisition agreement, Xeris Biopharma and Strongbridge have combined their businesses to form Xeris Biopharma (XERS). At the close of business on October 5, 2021, Strongbridge’s shares and XERS’ shares were delisted from the Nasdaq Global Select Market. On October 6, 2021, Xeris Biopharma began trading under the ticker symbol “XERS” on the Nasdaq.