The following is a summary of the Xeris Biopharma Holdings, Inc. (XERS) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Xeris Biopharma reported a strong financial performance with a 26% increase in total revenue for Q2, reaching $48 million.

• Specific product revenues included $13.3 million from Recorlev and $20 million from Gvoke, with both showing significant year-over-year growth. Keveyis generated $13.1 million, maintaining stability despite generic competition.

• The company raised the lower end of their full-year revenue guidance from $175 million to $190 million, citing robust first-half performance and momentum.

Business Progress:

• Xeris Biopharma is focusing on accelerating the growth of three commercial products: Recorlev, Gvoke, and Keveyis.

• They are pushing forward on a pipeline project, XP-8121, with a planned Phase 2 discussion with the FDA.

• The company announced a new partnership with Beta Bionics to develop a novel glucagon formulation.

Opportunities:

• The company is optimistic about the growth of Recorlev given increased disease screening and diagnosis.

• They plan to expand market protection of diabetic patients with their Gvoke HypoPen, and maintain resilience in the Keveyis brand despite competitive pressures.

Risks:

• Generic competition is a concern for Keveyis, though it has shown resilience so far.

• Seasonal fluctuations could affect the sales of Gvoke, especially linked to 'back-to-school' seasons.

More details: Xeris Pharmaceuticals IR

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