Xeris Biopharma Eyes High End Of FY21 Sales Outlook

Xeris Biopharma Holdings Inc XERS has reaffirmed its preliminary 2021 pro forma sales at a high-end of $76 million - $80 million guidance, approximately 55% growth from 2020.

• The company held year-end 2021 preliminary cash, cash equivalents, and investments of approximately $102 million.
• "2022 is off to a good start with an additional $30 million from the recent capital raise on our balance sheet and the near-term launch of Recorlev," said Paul Edick, Chairman, and CEO.
• Xeris announced a private placement with Armistice Capital LLC for approximately $30.0 million gross proceeds. 
• In December, the FDA approved Xeris' Recorlev (levoketoconazole) for endogenous hypercortisolemia in adult patients with Cushing's syndrome for whom surgery is not an option or has not been curative.
• Recently, the company elected PANTHERx Rare as the exclusive U.S. pharmacy distribution partner for Recorlev.
• Price Action: XERS shares are trading higher 4.05% at $2.31 on the last check Tuesday.