Xeris Biopharma Holdings, Inc. / "Research and Development" | Tables in SEC filings

XERS Xeris Biopharma Holdings, Inc.

Quarterly report

Three Months Ended September 30,

Change

Nine Months Ended September 30,

Change

2024

2023

2024

2023

Product revenue, net:

Gvoke

22,942

17,735

5,207

29.4

59,567

48,406

11,161

23.1

Recorlev

17,726

8,097

9,629

118.9

41,663

19,741

21,922

111.0

Keveyis

12,193

15,865

(3,672)

(23.1)

38,406

42,708

(4,302)

(10.1)

Product revenue, net

52,861

41,697

11,164

26.8

139,636

110,855

28,781

26.0

Royalty, contract and other revenue

1,407

6,623

(5,216)

(78.8)

3,335

8,669

(5,334)

(61.5)

Total revenue

54,268

48,320

5,948

12.3

142,971

119,524

23,447

19.6

Cost and expenses:

Cost of goods sold, excluding amortization of intangible assets

13,593

8,201

5,392

65.7

27,354

21,075

6,279

29.8

Research and development

5,888

5,034

854

17.0

19,468

15,959

3,509

22.0

Selling, general and administrative

44,969

37,287

7,682

20.6

123,342

108,527

14,815

13.7

Amortization of intangible assets

2,711

—

8,132

—

Total cost and expenses

67,161

53,233

13,928

26.2

178,296

153,693

24,603

16.0

Loss from operations

(12,893)

(4,913)

(7,980)

162.4

(35,325)

(34,169)

(1,156)

3.4

Other income (expense):

Interest and other income

1,197

1,121

6.8

4,411

3,644

767

21.0

Loss on debt extinguishment

—

(2,837)

2,837

(100.0)

—

(2,837)

2,837

(100.0)

Debt refinancing costs

—

(2,690)

—

(2,690)

100.0

Interest expense

(7,786)

(6,847)

(939)

13.7

(22,782)

(19,591)

(3,191)

16.3

Change in fair value of warrants

—

(17)

(100.0)

133.3

Change in fair value of contingent value rights

420

932

(512)

(54.9)

4,388

3,072

1,316

42.8

Total other expense

(6,169)

(7,614)

1,445

(19.0)

(16,666)

(15,709)

(957)

6.1

Net loss before benefit from income taxes

(19,062)

(12,527)

(6,535)

52.2

(51,991)

(49,878)

(2,113)

4.2

Income tax benefit

3,324

338

2,986

883.4

2,268

1,013

1,255

123.9

Net loss

(15,738)

(12,189)

(3,549)

29.1

(49,723)

(48,865)

(858)

1.8

	Three Months Ended September 30,									Nine Months Ended September 30,
2024			2023			2024			2023			Research and development			$	308	$	202	1,027	1,156	Selling, general and administrative	6,460		2,255	13,741	6,793	Total stock-based compensation expense	$	6,768	$	2,457	$	14,768	$	7,949

	Three Months Ended September 30,					Change			Nine Months Ended September 30,			Change
2024		2023			$			%			2024			2023			$			%
Project specific expenses:		Pipeline			$	1,539	$	951	$	588	61.8	%	$			5,610	$	3,734	$	1,876	50.2	%
Technology development (1)		235		500	(265)	(53.0)	%	1,074			1,508	(434)	(28.8)	%
Personnel related expenses		3,280		2,829	451	15.9	%	10,288			8,755	1,533	17.5	%
Lab supplies and equipment depreciation		442		481	(39)	(8.1)	%	1,206			1,094	112	10.2	%
Other		392		273	119	43.6	%	1,290			868	422	48.6	%
Total		$	5,888	$	5,034	$	854	17.0	%	$			19,468	$	15,959	$	3,509	22.0	%

September 30, 2024	December 31, 2023
Accrued employee costs			$	16,433	$	16,956	Accrued interest expense	1,193		1,374	Accrued supply chain costs	734		523	Accrued marketing costs	1,107		598	Accrued research and development costs	925		960	Accrued other costs	3,151		3,099	Other accrued liabilities	$	23,543	$	23,510

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