Xeris Biopharma Holdings, Inc. (XERS) is an innovative biotherapeutics company. The company is engaged in the development and marketing of treatments for patients with gastroenterological, neurological, and endocrinological issues. The lead product of the company includes Gvoke and Keveyis used for treating severe hypoglycemia and primary periodic paralysis respectively.
The price of XERS stock during the regular trading on January 28, 2021, was $2.07 with an increase of 3.50%. At last check in the aftermarket, the stock fell by 9.18%.
XERS: Events and Happenings
On January 28, 2022, XERS reported about the submission of form 8-K or a report of unscheduled corporate events or material events. On January 18, 2022, XERS reported about the business update and reiterated its 2021 net sales. The initial full-year 2021 net sales were expected to be approximately $76-80 million (55% increase than 2020).
On Jan. 13, 2022, XERS subsidiary selected PANTHERx Rare as the proprietary pharmacy distributor for Recorlev. It is FDA approved for treating endogenous hypercortisolemia in Cushing’s syndrome patients. On January 6, 2022, XERS reported that the company’s Executives presented at the Virtual H.C. Wainwright BioConnect 2022 conference held on January 10-13, 2022.
On January 3, 2022, XERS reported about its entry into a contract of securities acquisition of a private placement for net proceeds of up to $30 million. The company issued 10,238,908 shares of its common stock at an acquisition price of $2.93 per share. Also, it issued the warrants for the acquisition of 5,119,454 shares at an exercise price of $3.223 per share.
On December 30, 2021, XERS reported about the approval of the safety and effectiveness of Recorlev by the FDA. On December 16, 2021, XERS reported about the launch of Ogluo by its marketing collaborator ‘Tetris Pharma’ in the UK.
XERS: Key Financials
On November 10, 2021, XERS reported its financial results for the third quarter ended September 30, 2021. Some of the key updates are as follows.
Net Loss per Share
Basic ad diluted net loss per share in Q3 2021 was $26.0 million or $0.39 compared to $16 million or $0.35 in the same period of 2020.
Assets
Total current assets recorded for the company in Q3 2021 were $124.3 million.
Conclusion
XERS stock dipped 32% in the last six months due to negative economic growth conditions as a result of COVID-19. The analysts are of the view that the company’s policies to attract investors are sound and will enhance its reputation in the future. The current aftermarket decline in stock price is likely being associated with the 8-K form submission.
