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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