Xeris Pharma's Hypoglycemia Med Receives European Nod, Shares Spike

The European Commission has approved Xeris Pharmaceuticals Inc's (NASDAQ: XERS) Ogluo (glucagon) injection to treat severe hypoglycemia in adults, adolescents, and children aged two years and over with diabetes mellitus. Hypoglycemia (low blood sugar level) is a complication of glucose-lowering therapy.
Xeris will complete a further administrative step to obtain a license in Great Britain. No re-examination of clinical data by the U.K. regulatory authority is expected.
In the U.S., the injection is available under the Gvoke PFS and Gvoke HypoPen brand names, approved in September 2019.
Price Action: XERS jumps 17.6% at $7.8 in premarket trading on the last check Friday.