Xeris Biopharma Holdings (XERS) 2025 Investor Day Transcript

Summary of Xeris Biopharma Holdings (XERS) 2025 Investor Day Company Overview - Xeris Biopharma Holdings is positioned for significant transformation and growth, focusing on three commercial products: Gvoke, KEVEYIS, and Recorlev, which address critical unmet medical needs in patients with diabetes, primary periodic paralysis, and hypercortisolism respectively [9][10] - The company is preparing to launch a new product, XP-8121, targeting hypothyroidism, which is expected to meet a significant unmet need in the market [11][15] Financial Performance - Xeris anticipates total revenue between $260 million to $275 million, with a positive adjusted EBITDA and 85% gross margins, indicating financial stability and self-sustainability [14][17] - Recorlev is projected to reach $1 billion in annual net revenue within the next ten years, serving as a growth engine for the company [19][15] Product Insights Recorlev - Recorlev is designed for treating hypercortisolism in patients with Cushing's syndrome, with a unique mechanism that normalizes cortisol levels [20][32] - The product is expected to address significant unmet needs and is positioned to generate sustainable long-term cash flow [21][19] - Clinical studies have shown that Recorlev can improve various health markers, including blood glucose levels, BMI, and cholesterol levels [34][33] XP-8121 - XP-8121 is a new formulation for hypothyroidism, utilizing proprietary XEROSOL technology for a once-weekly subcutaneous injection, which aims to provide consistent control of thyroid hormone levels [63][74] - The product addresses challenges associated with oral levothyroxine therapy, such as absorption issues and the need for frequent monitoring [70][72] Market Dynamics - The market for hypercortisolism is evolving, with increased awareness and screening for Cushing's syndrome, which is expected to drive demand for Recorlev [26][41] - The hypothyroidism market has not seen significant innovation in nearly fifty years, creating a substantial opportunity for XP-8121 [63][64] Clinical Perspectives - Experts highlighted the complexities of diagnosing and treating Cushing's syndrome, emphasizing the need for a comprehensive approach to patient care [47][50] - The burden of managing hypothyroidism is significant, with many patients experiencing inconsistent control due to various factors, including dietary influences and medication interactions [70][89] Strategic Initiatives - Xeris plans to expand its sales force and invest in market education to enhance the understanding of hypercortisolism and the value of Recorlev [36][39] - The company aims to partner with healthcare professionals to improve screening and treatment guidelines for both hypercortisolism and hypothyroidism [39][38] Conclusion - Xeris Biopharma is on a growth trajectory with a strong product pipeline and a commitment to addressing unmet medical needs in endocrinology, positioning itself as a leader in the biopharmaceutical space [18][15]