Xeris Biopharma Q2 2022 Earnings Report
Key Takeaways
Xeris Biopharma reported record net product revenue of $25.3 million for the second quarter of 2022, a 15% increase from Q1 2022 and a 34% increase from the same period last year on a pro forma basis. The company ended the quarter with $111.6 million in cash, cash equivalents, and short-term investments. Xeris Biopharma reaffirmed its full-year total net product revenue guidance of $105 million to $120 million.
Achieved record net product revenue of $25.3M, a 15% increase from Q1 2022 and a 34% increase from same period prior year on a pro forma basis.
Ended Q2 with $111.6M in cash, cash equivalents and short-term investments.
Gvoke prescriptions topped 34,000 for the first time, growing more than 60% compared to the same period in 2021.
Keveyis reported best quarter to date.
Xeris Biopharma
Xeris Biopharma
Xeris Biopharma Revenue by Segment
Forward Guidance
Xeris Biopharma reaffirms full-year total net product revenue of $105M-$120M; $50M in synergies by year-end, 2022 year-end cash balance of $90M-$110M, and cash flow breakeven by year-end 2023
Positive Outlook
- Reaffirms full-year total net product revenue of $105M-$120M
- Expects $50M in synergies by year-end
- Projects 2022 year-end cash balance of $90M-$110M
- Anticipates cash flow breakeven by year-end 2023
- Gvoke market share continues to outpace the overall glucagon market
Revenue & Expenses
Visualization of income flow from segment revenue to net income