Xeris Biopharma Holdings Inc. (XERS) shares jumped 7.01% in after-hours on Friday, November 12, 2021, and closed the weekly trading at $2.29. Even in the regular trading session of Friday, XERS’s stock gained 2.88%. XERS shares have fallen 59.00% over the last 12 months, and they have moved up 9.74% in the past week. Over the past three months, the stock has lost 3.60%, while over the past six months, it has declined 38.51%.
Let’s discuss its recent news and developments.
XERS recent financial results
On November 10, 2021, Xeris Biopharma Holdings, Inc. (XERS), reported financial results for the third quarter, and the first nine months ended on September 30, 2021.
Q3 2021 financial highlights
- XERS reported total net sales of $11.03 million in Q3 2021 compared to $9.4 million in Q3 2020.
- The cost of goods sold was $3.2 million in Q3 2021, compared to $2.8 million in Q3 2020.
- Research and development expenses were $5.7 million in Q3 2021 compared to $3.9 million in Q3 2020.
- Selling, general and administrative expenses were $26.5 million in Q3 2021 compared to $16.5 million in Q3 2020.
- Xeris suffered a net loss of $26.0 million, or $0.39 per share in Q3 2021, compared to a net loss of $16.0 million or $0.35 per share in Q3 2020.
- The company ended the quarter with total cash, cash equivalents, and investments of $93.0 million, compared to $133.8 million on December 31, 2020.
XERS collaboration with Merck
On October 25, 2021, Xeris Biopharma Holdings, Inc. (XERS), announced a collaboration agreement with Merck.
According to the agreement, Merck will get licensed Xeris’ suspension-based formulation technology, XeriJect™, for use with undisclosed monoclonal antibodies (mAbs) for engineering ultra-high concentration, ready-to-use formulations. The terms of the agreement were not disclosed.
XERS completed Strongbridge Biopharma acquisition
On October 05, 2021, Xeris Pharmaceuticals, Inc. (XERS) completed the previously announced acquisition of Strongbridge Biopharma plc (SBBP).
Both companies combined under Xeris Biopharma Holdings and shares of Xeris Biopharma Holdings began trading on the Nasdaq under the ticker symbol “XERS” from October 6, 2021.
XERS inducement grants
On October 01, 2021, the Compensation Committee of Xeris Pharmaceuticals, Inc. (XERS), granted restricted stock units for an aggregate of 28,750 shares of its common stock to 20 new employees under Xeris’ Inducement Equity Plan.
Conclusion
Well, as of this writing there is no recent news or development which could justify its good performance on Friday. we hope that it will commence the trading in a positive mode after the weekend as well.
