Xeris Biopharma Holdings (XERS) 2025 Conference Transcript

Summary of Xeris Biopharma Holdings (XERS) Conference Call Company Overview - Xeris Biopharma is a unique biopharma company with three commercial products: Gvoke, KEVEYIS, and Recorlev [6][7] - The company has achieved 13 to 14 consecutive quarters of over 20% growth, projecting $268 million in revenue for the current year, representing a 32% growth rate year-over-year [7][11] Financial Performance - The company has reached adjusted EBITDA positive status and aims to maintain this going forward, allowing for self-funding of growth and pipeline development [7] - Long-term revenue guidance includes $750 million by 2030 and $1 billion in net revenue for Recorlev by 2035 [11][12] Product Pipeline and Market Opportunities - Recorlev is positioned as a significant growth driver, with a large emerging market opportunity in hypercortisolism and Cushing syndrome [13][14] - The company anticipates that its Phase III ready product, XP 8,001.21, could generate $1 billion to $3 billion in peak sales [12] Competitive Landscape - Recorlev is differentiated in the market for treating Cushing's syndrome, focusing on normalizing cortisol synthesis, which is crucial for patients with resistant diabetes and other conditions [15][19] - The company views the entry of new competitors as an opportunity to raise awareness about cortisol testing and treatment options rather than a threat [26][28] Gvoke and KEVEYIS - Gvoke is a rescue medication for diabetes, with a significant market opportunity as only about 1 million of the estimated 15 million eligible patients currently have access to it [30][31] - The company is focused on educating the medical community to increase compliance with guidelines recommending rescue medications for insulin users [41] XP 8,001.21 Development - XP 8,001.21 targets a large unmet medical need in the thyroid space, with an estimated 3 to 5 million patients unable to achieve consistent control with current oral therapies [44][45] - The company plans to initiate Phase III trials in 2026, with potential market entry by 2030, estimating a market opportunity of $1 billion to $3 billion [48][67] Clinical Trial Insights - Phase II data demonstrated the ability to normalize thyroid levels with 40% less drug compared to traditional therapies [51] - The primary endpoint for the upcoming Phase III trial will focus on the percentage of patients achieving normal TSH levels after one year [56][62] Conclusion - Xeris Biopharma is positioned for significant growth with its current products and pipeline, particularly in addressing unmet medical needs in diabetes and thyroid disorders. The company is actively working to educate healthcare providers and expand market access for its therapies.