Xeris Biopharma CEO unveils record quarterly revenue, underpinned by unique business model
Vancouver --News Direct-- Xeris Biopharma Holdings
Xeris Biopharma chairman and CEO Paul Edick joined Proactive's Stephen Gunnion with details of the company's second-quarter performance, which saw record revenue driven by the success of their products, including Gvoke, Keveyis, and Recorlev.
For the quarter, which ended on June 30, 2023, the company achieved sales of $38 million, up 50% year-over-year and 14% sequentially.
Edick noted that Xeris' unique business model includes three pillars: a thriving commercial business, technology for in-house product development, and partnerships to enhance others' drugs. This diversified approach provides the company with strategic flexibility and options for growth.
He also expressed confidence in achieving cash flow breakeven by the fourth quarter and emphasized the company's sustainability without the need for additional public equity sales.
Regarding the pipeline program for Xerisol levothyroxine, Edick said Xeris is enrolling in the phase two study. The data collected will shape the phase three trial and regulatory negotiations with the US Food and Drug Administration (FDA).
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