Xeris Biopharma Holdings Inc. (NASDAQ: XERS) stock surged by 2.88% at last close while the XERS stock price hikes during after-hours by 6.07%. Xeris is a biopharmaceutical firm focused on developing and commercializing novel treatments for endocrinology, neurology, and gastrointestinal patients.
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XERS stock’ Financial Outcomes
Xeris Biopharma announced its financial results for the third quarter of 2021. The highlights are stated below:
- For the third quarter, of 2021 and nine months ending September 30, 2021, total sales for Gvoke HypoPen and Gvoke pre-filled syringe were $11.0 million and $27.9 million correspondingly.
- For the third quarter, of 2021 and nine months ended September 30, 2021, SG&A expenses were generated as $26.5 million and $71.5 million, respectively. Transaction-related expenses of $2.3 million and $6.2 million for the third quarter of 2021 and nine months ended September 30, 2021, respectively, are included in these numbers.
Paul R. Edick, Chairman, and CEO of Xeris Biopharma stated that,
In the third quarter, remarkable growth was achieved owing to continued strong sales for both Gvoke and Keveyis. The two commercial brands are now on target to generate $76-80 million in revenue for the entire year. They’ve finished integrating the operations since the Strongbridge acquisition closed in early October. They’re functioning as one firm and on schedule to achieve $50 million in synergies, all while planning for Recorlev’s prospective commercial launch. They have enough capital on hand to continue to build Gvoke and Keveyis, plan for and launch Recorlev in Q1 2022 if it is authorized and progress their pipeline items.