Xeris Biopharma Holdings, Inc. (NASDAQ: XERS) Q4 2024 Earnings Conference Call
On March 6, 2025, Xeris Biopharma Holdings, Inc. (Xeris), a biopharmaceutical company specializing in the development and commercialization of innovative, injectable and infusible technology-enabled therapeutics, held its Fourth Quarter and Full Year 2024 Financial Results conference call. The call was led by Allison Wey, Senior Vice President of Investor Relations and Corporate Communications, John Shannon, CEO, and Steve Pieper, CFO. The call was attended by several analysts, including Chase Knickerbocker from Craig-Hallum, Oren Livnat from H.C. Wainwright, Glen Santangelo from Jefferies, David Amsellem from Piper Sandler, and Leland Gershell from Oppenheimer.
Financial Highlights
During the call, the company reported a net loss of $16.7 million for the fourth quarter of 2024, compared to a net loss of $13.8 million in the same period the previous year. The full-year net loss came in at $68.2 million, up from $56.8 million in 2023. The increase in net loss was primarily due to higher research and development expenses related to the company’s pipeline programs and increased selling, general, and administrative expenses.
Pipeline Updates
Xeris provided updates on its pipeline programs. The company announced that it had completed enrollment in the phase 3 clinical trial for its lead product candidate, Gvoke HF (glucagon injection) for the treatment of severe hypoglycemia in adults with diabetes. The trial is expected to read out in the second half of 2025. Additionally, the company reported that it had initiated a phase 3 clinical trial for its investigational product candidate, Avluca (insulin injection) for the treatment of type 1 diabetes. The trial is expected to read out in the first half of 2026.
Commercial Progress
Xeris also discussed its commercial progress. The company reported that it had achieved record net product sales of $17.7 million in the fourth quarter of 2024, up from $14.5 million in the same period the previous year. The full-year net product sales came in at $57.4 million, up from $45.8 million in 2023. The increase in sales was driven by the continued growth of the company’s marketed products, including Gvoke and Zegalogue (insulin-like growth factor-1 for injection).
Analyst Questions and Management Responses
During the Q&A session, the analysts asked several questions regarding the company’s pipeline, commercial progress, and financial outlook. The management team provided detailed and informative responses, addressing each question with clarity and professionalism.
Impact on Individual Investors
The earnings call provided valuable insights into Xeris’ financial performance and pipeline progress. For individual investors, the company’s continued investment in research and development, despite the increased net loss, is a positive sign of its commitment to bringing innovative therapeutics to market. Additionally, the company’s commercial progress and record net product sales are indicative of its growing market presence and potential for future growth.
Impact on the World
From a global perspective, Xeris’ pipeline programs have the potential to significantly impact the lives of people with diabetes and other conditions requiring injectable or infusible therapies. The successful development and commercialization of Gvoke HF and Avluca could provide new treatment options for severe hypoglycemia and type 1 diabetes, respectively. Furthermore, Xeris’ technology-enabled therapeutics have the potential to improve patient outcomes and reduce healthcare costs by providing more convenient and effective treatment options.
Conclusion
Xeris Biopharma’s Fourth Quarter and Full Year 2024 Financial Results conference call provided valuable insights into the company’s financial performance, pipeline progress, and commercial success. The continued investment in research and development, record net product sales, and positive pipeline updates are indicative of the company’s commitment to innovation and growth. For individual investors, the call highlighted the potential for future growth and the importance of staying committed to long-term investments in biopharmaceutical companies. From a global perspective, Xeris’ pipeline programs have the potential to significantly impact the lives of people with diabetes and other conditions requiring injectable or infusible therapies, and could provide more convenient and effective treatment options, ultimately reducing healthcare costs.
- Xeris reported a net loss of $16.7 million for Q4 2024, up from $13.8 million in the same period the previous year
- Full-year net loss came in at $68.2 million, up from $56.8 million in 2023
- Completed enrollment in phase 3 clinical trial for Gvoke HF for severe hypoglycemia in adults with diabetes
- Initiated phase 3 clinical trial for Avluca for type 1 diabetes
- Record net product sales of $17.7 million in Q4 2024, up from $14.5 million in the same period the previous year
- Full-year net product sales came in at $57.4 million, up from $45.8 million in 2023
