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Jun 30, 2024
Xeris Biopharma Q2 2024 Earnings Report
Xeris Biopharma's Q2 2024 financial performance was strong, marked by significant revenue growth and strategic advancements.
Key Takeaways
Xeris Biopharma reported a strong second quarter in 2024, achieving $48.1 million in total revenue, including record product revenue of $46.5 million. Total revenues increased 18% over the prior quarter and 26% over the same period prior year. The company is tightening its full-year 2024 revenue guidance to $190M-$200M and year-end cash balance to $60M-$75M.
Total revenue reached $48.1 million, a 26% increase year-over-year.
Product revenue hit a record $46.5 million, driven by strong demand for Gvoke, Keveyis, and Recorlev.
Gvoke prescriptions topped 65,000, growing 27% compared to Q2 2023, with a retail TRx glucagon market share of approximately 34% at the end of July.
The company anticipates an end-of-Phase 2 meeting with the FDA before year-end for XeriSol™ levothyroxine (XP-8121).
Revenue by Segment
Forward Guidance
Xeris Biopharma tightens full-year 2024 guidance, expecting total net revenue to be between $190 million and $200 million and year-end cash balance to be between $60 million and $75 million.
Positive Outlook
- Total net revenue expected between $190 million and $200 million.
- Year-end cash balance projected between $60 million and $75 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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