XERS - Earnings call transcript Q3 2021 | Xeris Biopharma Holdings, Inc.

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Welcome to the Xeris Biopharma Third Quarter 2021 Financial Results Call. My name is Ruby and I will be your moderator for today’s call. [Operator Instructions] I will now hand over to your host, Allison Wey, Senior Vice President of Investor Relations and Corporate Communications to begin. Allison, please go ahead.

Allison Wey

Thank you, Ruby. morning. Good Xeris’ and financial webcast. to update and quarter call conference third welcome results XXXX corporate And can our A quarter issued and financial release results found press with was earlier the this website. company’s third be on morning

We remarks, CEO; CFO. Steve and Edick, open and then provide will the this details are for provide financial Pieper, up opening we results morning and joined will Paul Chairman by Paul Steve our Q&A. on call our will

of questions taking portal. from be the also function webcast chat will We the

differ Before the the may trials we strategy the the Safe like global of corporate under factors of business, in prospects, results would purposes of practices, to suppliers forward-looking result remind the by indicated will contain plans, you call Reform for a condition, Act markets, of Actual commercialization, begin, the I COVID-XX with and related business that as Other manufacturers. performance, those forward-looking effect and impact our Xeris’ expectations, provision Litigation approvals, this XXXX. statements Harbor Securities on which future concerning factors, third-party constitute include from Xeris’ clinical Private statements, statements clinical of discussed U.S. operations, and materially the financial pandemic SEC. on uncertainties important these various and Xeris’ those risk including filings COVID-XX to forward-looking

to our call as subsequent be statements. the to disclaim of any turn like represent only obligations specifically date call views as forward-looking as upon over update relied not any statements representing and We the such Paul. this In should addition, our I’d any date. to of of views

Paul Edick

listening today. Allison. Thanks, morning, everybody Good

Biopharma, support a the compelling all first as we value Let commercially are call me Biopharma, proposition. as Strongbridge company Xeris Xeris shareholders one Xeris a focused overwhelming Biopharma of our result operating as with to approval and both biopharmaceutical very of by now Pharmaceutical you start of and welcoming

the to profile talking spend a of the couple I’d company. about minutes new context, like For

a have very diversified base. revenue We

large current over that potential Our established us revenue give in years. strong the addressable markets and growth growing presence double-digit the several next Gvoke assets, already revenue has commercial Keveyis to generate a rapidly base

the With rapid XXXX leveraging the commercial by infrastructure. of Recorlev approved if our in additional for FDA, quarter the experienced launch first of potential endocrinology-focused opportunity

We a and disease-focused unmet in also provider commercial including have a platform needs. the robust to a of wider and specialized patients trying of bring teams operational range fully with products endocrinology benefits to patient support company’s rare a infrastructure,

a We also have robust pipeline.

Xeris for and under relatively In addition small a to FDA and of the review programs. young extensive which is pipeline filed by Recorlev, development company, has an

commercial new We and current marketed and have into developments important new support the well forward of using in to long-term extend as product our as formulation indications products bringing platforms technology opportunity uses, products success.

financial very are we strong also Importantly, a position. in

commercial functions a immediate This general We XXXX public an XXXX pre-tax quarter we from notably have we investments, infrastructure team. the for of will and $XXX other most of year company the resulting realize in savings, end forecasted cash approximately and and million cost is cost, by end the including cash synergies acquisition within equivalents million Strongbridge have reporting avoidance $XX from us. including management experienced administrative cost unique

just third acquisition report completed are quarter into was financials, week Strongbridge We one required to standalone yet the of Xeris QX.

only available XXXX, approvals the of results room a well FDA with for compared performance XXXX I say some very We Kit, announced XX am year impact combined subcutaneous period as collaboration end. an months. as up Syringe – the second UK the pro our technology, on accurately, of XeriJect XX% in of HypoPen Merck $XX position forma partnership highlights well enrollment shelf-life that for as guidance and near-term more had net debt of The Keveyis in before and up With Gvoke will with be had to-date the on of potential is levothyroxine once-weekly a injection of as quarter healthy our Steve growth will forma quarter as So, Gvoke the Prefilled temperature additional and once we and the we into happy months the pro on a positive of later. acquisition. XX% bit at from Xeris of that, and interest Gvoke metrics. they key achievement has acquisition. full track coming extension completed our the which quarter-over-quarter. into an which X is to to million million our our The our of will study, Gvoke evaluate Strongbridge Xmg quarter of facility, milestones XX% Phase provide cash our to quarter, company stated. $XX to a that $XX the integration million, $XX.X EU end of using $XX allowing sNDA Steve and include, QX, go will cash, cash QX Keveyis XXXX third detail million the little Pharma sales Other importantly, with plus respectively. the of for initiation I That launch details Ogluo extension of XX versus and of go with more close was million $XX.X a Tetris to the on the are in year million revenue very into again, completed the of the strong and the second combined the

start the into deeper with Gvoke. little a I’ll specifics, Going

We of owe quarter-over-quarter to a We continue prescription in that Gvoke demand few growth. see terms market factors. for and strong to

have believe with the product. we we – product, best Our

the prescription growth total The and growth commercially? second a is XXXX. XX,XXX up was we over with excellent first coverage saw are Our taking up is uptick to end market in for the by $XX this for earlier the continues market of growth of footprint from net XX% to Gvoke the X% XX% XX% increasingly in market effort; our prescriptions in glucagon year. prescribers; insulin and XX% an with sales as impactful up million are quarter, all to XX% increased sales of – supported extended from from QX Our up which time at payer the commercial which QX from is grew message, sales improving up were to unrestricted. patients that Gvoke’s our offices; outpace October. the the coverage and the What of field terms significant Gvoke’s TRxs physician QX glucagon from - and of QX. Gvoke insight XX% end up access add topping to we continued to share, beginning QX XX% our all

from that to maintain slightly tend perhaps basis. As fourth quarter you we comfortable in Sitting an over today, or on based am quarter. annual glucagon the on even market increase quarter can quarter third I know, saying recent here fourth third the prescriptions decrease prescriptions prescriptions, the

to on move Keveyis. Let’s

paralysis first approved for X,XXX PPP, diagnosed only We periodic primary The condition. with estimate a or FDA to and PPP. severe therapy people each year X,XXX

established quarter-over-quarter growth expertise driven revenue disease year-over-year. has Our commercial and and of Keveyis rare experience

revenue of revenue XXXX $XX the exceeding of increase last sales of million given $XX million. XX% million XXXX net of the quarter Year-to-date to QX third we impressive XXXX. year. historical over million of over that The will increase a be range represents million full results, And in XX% believe $XX.X to $XX an million guidance is year $XX.X $XX

briefly pipeline, talk well. me start I’ll about Let Recorlev. our as with

fit treated syndrome penetration. the and therapy, an the are drive we’ve X,XXX the we to controlled. treated acquisition U.S. opportunity early give an of Strongbridge syndrome the the Cushing’s are a is in as tremendous with approximately, like As market diagnosed, for XX,XXX I’d articulated, part Cushing’s commercial existing X,XXX ketoconazole. some whom patients value with will of on Recorlev of estimated opportunity, infrastructure, background Many not which of the with unapproved There prescription of including Gvoke’s well. patients which these generics, are being well patients are estimated believe

penetration market endocrinology have significant reimbursement established Gvoke, offices in gaining dominated dedicated plus approved by XX patient liaisons, with by $X we science of and prescribing date today this believe billion support January Recorlev? market. are The under generics. review we PDUFA overlap of been reps, products branded drive CS our medical a with on share is in Where and X, However, with capitalize experience, addressable could what currently NDA field relationships with a With the Recorlev our FDA be once can XXXX. we services, the

mentioned, in injection stage And the I levothyroxine of full study mode first launch. We potential pharmacokinetics, earlier programs, subcutaneous drugs treatment for our successfully and subcutaneous the in anticipation we of our the dosed one as in tolerability of Phase initiated pre-commercialization once-weekly and dosing terms potential formulation all quarter are U.S., X in the in most safety a of for of participants in prescribed to levothyroxine, a evaluate preparation for weekly and a novel hypothyroidism. for the our

We achieve can dosing. will from in that first X once-weekly indication not XXXX, we us Phase expect results which the give the of whether half of, study or an

the the ready-to-use agreement we in first in quarter In of ultra-high For use suspension-based for sub with Exercise-induced Exercise-induced addressing Hypoglycemia, purpose the our for undisclosed engineering collaboration technology, to generate monoclonal of and clearance, upon formulations. license announced Hypoglycemia formulation Merck, submit of October, antibodies will data with more we XeriJect, an XXXX. option with an concentration, management IND the XXXX, clinical

are we on excited quite working expect, Merck this to would be with you project. As closely

As some understand of we’d you I my some to stated our can guidance provide important to the earlier value metrics remarks, like better performance. in

of million to $XX year sales, is full we million in million the expect Keveyis. $XX XXXX, $XX which to For net million $XX from

year an sales to we million. we also our XXXX not is of cash $XXX after full basis. year deal-related impressive fourth this expect for and products We combined quarter one-time to When commercial early of million individual expenses. and position $XX an product expect with be full in net year report on March, providing the And approximately end

to Now Steve performance. will over the our to I financial call review details turn of

Steve Pieper

XX, on in on that key to of morning the as financial and was and Xth, acquisition, Strongbridge net am will this details relates guidance Paul. morning to the sales a this September results Good timing XXXX. Due everyone. be financial Xeris it pre-acquisition today. pro financial for and the a filed as later the I release are on press however My financials of of Biopharma Thanks, Form will basis results, the we morning, issued forma of the the net will today a additionally, October few year-end which comment will cash. provide closing XX-Q our I sales reflect as for reminder results focus remarks of covering which

months XX% and which second the perspective Gvoke from XXXX, a The approximately in Gvoke million high prescriptions $XX.X reminder underlying from a sales XX,XXX million, quarter the XXXX, quarter momentum for Gvoke quarter as strong a $XX continued Keveyis sales XXX% with September reported of million third net which by increase months in in of sales XX in Gvoke Keveyis year. third the outstanding demand of an which in representing We with perspective, is This third was sales sales up XX, net forma growth quarter quarter through driven net million, net ended Gvoke, record the of basis the continue versus net quarter both both period the net September quarter represents last growth quarter sales which being increase sales quarter, was versus of versus in XX, and Pro was million million, underlying as third Gvoke of quarter, September third to is approximately again in XX% from another is Gvoke XXXX. through net evidenced on Keveyis XX, forma a $XX.X approximately is of patient versus a driven and net quarter pro represents launched the Gvoke. demand million. third the XXXX. we by the September the XX% $XX.X sales inclusion growth on of net in This another were basis over strong Keveyis initially ended a by $XX.X quarter approximately for new $XX.X through had Gvoke. a is nine XX% same year-to-date patient the $XX of XXXX. Gvoke versus the an and sales build which HypoPen. XXXX. September XX% third year-to-date for nine generated XX% product increase From year-to-date XX the a up was includes the the reporting third quarter, third and

net net of high historical will million estimates As is sales ahead, and Gvoke full full of to Xeris million will new with $XX we basis, million to expect for $XX and generate in Paul a the On a we guidance to the Keveyis combined for end million $XX for estimating both look that Xeris $XX XXXX. year year as $XX provided million sales of year mentioned, XXXX. range and Keveyis exceed million $XX full

on loss net of reminder, cost standalone sold, results Xeris. on are XX, XXXX through expense goods September my comments a As for and basis operating pre-acquisition a

of the which months the XX, nine months primarily million, compared cost of for September $X.X down the sold XXXX, was ended XXXX, included Cost an XX, months $X.X three move of million sold compared the million $X.X was products for XX, to September $X.X September we goods As the goods million standard increase increase P&L, ended XXXX, sold. ended for cost XXXX. months an of to September XX, three nine ended

$XX.X of trial million offset SG&A and $X.X were expense acquisition-related pharmaceutical September ended in to force cost three partially million, lower clinical XX, The million to Strongbridge to $XX.X XXXX. $X.X $X.X million, personnel-related the increased Turning operating selling versus $XX.X were by million, $XX.X increase XXXX. due our $X.X expenses the million the of related for in XX, for months to expenses, $X.X compared third $X increase in to $XX.X expenses same administrative XXXX in was to of headcount expenses decrease million, cost our million This which decrease nine higher September the in million, and headcount to driven $X.X clinical driven to million million increases due expenses were the to higher with ended primarily of compared $XX.X entirely three XXXX. in partially period primarily approximately $X.X development related acquisition-related million of expenses same includes million, due ended by the million million. associated the for cost to XX, increases September marketing increase by declining and The pharmaceutical force XX, period a cost The and driven $X.X Total by of cost ended Strongbridge XXXX compared approximately million, for compared nine Strongbridge $XX.X September an expenses represents the process $XX.X of marketing September SG&A million attention Year-to-date, months which the million in in R&D by the and million aforementioned selling driven of acquisition. headcount XX, lower ended period primarily $XX the an compared of increase months to period XXXX an by the This million increase selling, $XX.X personnel-related of increase same were XXXX. R&D $XX and of a ended SG&A reduction an months an $XX.X was was to due expenses, by driven increase trials $X personnel-related expenses includes acquisition. development operating $XX.X $XX.XX million, expenses primarily $X.X offset XXXX were to increase process months is million. to of by expenses and primarily million driven in was period an million expenses Strongbridge sales and mainly in increase expenses increase cost XXXX. million increase advertising. the quarter in XX, for XXXX sales primarily million in for September same XXXX. for which general the costs. XXXX same to nine was by in in for expenses. The $X.X approximately for in

quarter, operating ahead Strongbridge majority my continue fourth I from in the to Looking in will as an expected remarks perspective, costs to mentioned incur expect expense last we acquisition, to which are the of we that hit quarter. a related

one-time Xth of Xeris As actual and Strongbridge. expenses deal there both a and on the October for closed were by the acquisition triggered the reminder, closing

fully However, the operating by million of $XX will our in be realized be XXXX. expenses synergies end we will in and believe the deal-related that reflected

Additionally, of our and potential supporting quarter, both a From Keveyis. of include operating $XX.X for end of third the future expenses QXand and for perspective, debt the Gvoke credit consisting debt preparing of the cost launch million, growth Recorlev debt million of had convertible the in and under we in will the Oxford $XX.X at our senior totaling with $XX.X SVB. million continued facility

Bank, figures per due million a ended $XX to September continued start loss From share month the XXXX of ended than of $X.X $X.XX with interest-only in and net loss months debt net which avoids and Valley a to payments in per facility has As repayment our a loss or $X.XX of The share early September strong share three in out September $X.XX Xeris XXXX extension principal and performance for today respectively. release, press million Silicon months for XX, and approximately both pushes and we XX per XX, transaction-related months net share XXXX, three perspective, nine loss nine Oxford achieved XX, and on QX Xeris earlier reported per million ended $X.XX Gvoke $XX.X full and million the Keveyis, or a expenses the our or share $X.X principal for announced million or no $XX net per XXXX. include of the XXXX.

cash, $XXX Strongbridge. at from extinguishment Xeris including costs million, cash, of additional close and the for of of compared September $XX cash yearend of on had cash is million of inclusive equivalents $XXX.X an in companies As investments approximately to equivalents acquisition putting $XX total $XX debt October million at XXXX. December by cash Xeris Strongbridge both received This estimate XX, XXXX, of healthy one-time the anticipates Xeris X, approximately million million. and Xeris of a position. investments XX,

debt a of we cost Fund severance, Avenue will incur acquisition-related including cash to continue by upon a fees Strongbridge year the close be the reminder, will facility Opportunities end. including transaction. from transaction-related this remaining Venture its cost totaled As of XXXX, paid with pay-off approximately $XX amount, in Though million. off realized the impact This majority

As the cash. of we be investments project and the we our to our XXXX cash that grow as cash, have revenue equivalents course mentioned, to cash and we approximately continues improve base generate million, $XXX of to yearend XXXX rate over burn expect

be Recorlev QX, in you approved. me that will we launching Let if remind

when both marketed quarter we as of potential that its company and However, we growth and this in from press note. investments finish cash we and cash, equivalents, are will cash flow will our ultimately morning, cash net we high affirmed To on through a a terms believes had end and XXXX. revenue The including current in at the products breakeven. of summarize, for future products least release anticipate both our XXXX resources, great sales will the sustain sufficient determine Gvoke operations to current be Keveyis marketed

and already we by We XXXX. to full committed and of effect realized end of fully delivering those Xeris have realizing Strongbridge integrated the synergies the quickly into will the are synergies be

turn and along from Recorlev public to necessary over Recorlev, debt in overall generated repayments a We into the two and lastly, approved, approved cash effectively infrastructure growing will at I perspective to our us in if our principal current cash and solid call We to if fund cash R&D necessary generated our a earliest. will Keveyis SVB position pipeline commercial company. commercial with deferring with further back Paul. a strengthen the corporate infrastructure fund cash the run $XX products and are Gvoke, the continue and in cash Oxford Keveyis to Gvoke to from our position, fund drive allow the believe the now for potential XXXX position million from

Paul Edick

Steve. Thanks,

you Xeris never heard, fundamentals As have been stronger.

have products. We two growing

revenue addressable are generating with We and in large the Keveyis. are They both markets. both Gvoke

sales net improved. is XXXX yearend for guidance Our

Gvoke levothyroxine catalyst also first for additional in kit the year next on and in the of of in potential the the data first and quarter; for in healthy first the EIH of launch the study are end position. some approval the year; the from Phase availability the UK we have early near-term half cash the of Ogluo We program; Recorlev of X at work a quarter;

over we that in. So, the I turn very for to with it listening that, from questions may you operator Thank any much will have people

Operator

first you. your David from David, Our question Piper go Amsellem [Operator Instructions] is open. line Please of Sandler. is ahead. Thank now

David Amsellem

Hey, thanks.

I a have XXXX. But comment dynamics may Are lost Zealand landscape? about that to accelerates And help any might market So, with glucagon rescue way? the the a that this. on your market looking racemic impacts access for are on out if the then, think the mixtures all how how you some And are can the I you have of thinking just we payer for for talk I few, accelerate on if Because the starting in And Recorlev, as frequency. you to get that in seeing Gvoke. uptick? wanted thoughts potential product? us on used secondly, any pandemic. Paul, Zegalogue, factor at missed think May that some just ketoconazole just you you on can it you is with move Then, about appreciable

last to do what then, have do tackling know, Thanks. at levothyroxine. are sense a how And you your early, landscape is might there? it’s NDA of for on the need payer you I filing the a you work? potential timeline question asset to looking registration So, on quality and but that

Paul Edick

Thanks, David. in bunch That’s a whole there.

and we the anticipated sort delta high the out back one almost and Unfortunately, resurgence take for me up of Xeris of and we’d XX really market with we way acceleration was kind and Lilly offices did be of that this kind XXs, you things considered. what’s quarter. the driving on to and And the that going we are and market think think growth. to continue the of was that grow at market to let going are to recall, we late, just look at by that’s doctors in got anticipate we be see accelerating. the if variant we starting open glucagon, have and recent things had summer, move didn’t market, in haven’t. pandemic, the growth. we would growth plus acceleration But fourth to The pre-pandemic We some up you the growing and little look XXXX, you percent, being It bit of a time. going if to we if there, of continue beyond XX%. So, at all at kind part expect a into

we short-term The in focused are share. important thing on the is gaining

market said other we to to As than is the remarks, are now my our companies gain penetrate up and growth. behaving are in position focus be when that’s gain and they and we’ll start physicians up with open start I to to share beneficiary over the patients XX% faster the in change be a share right do that does continue share, of to how

what exactly to that’s like look going XXXX. in So,

to come do projecting we not back. of kind but it expect are We yet,

at yet. that not marketplace Zealand, of terms all been In has in product factor a the

So, not all concerned at we are that. about

As cold it requires until you one know, refrigeration year has life. of once taken of out chain refrigeration only the it’s it shelf

a big new are what branded good. payer access pretty for the products is is, with access Payer non-generic So, Recorlev, seeing we not impact.

people what research – have in already product willing a are going for through is that through. place to Most what keynotes. to see put market payers will will usually Our payers they’ll us stepped put a have And better tells pay step side-effects. be

a get confident support easy? will but for a payer be And are very it then, perspective, Probably we we levothyroxine not, we will Recorlev. don’t have from timeline. So,

the achieve levothyroxine, As about Can Do have is this a timeline aggressively range is Phase we we’ll if within that to show product. that into you further a point. we’ll understand X and study injection study and this would that’s goal dose at once-weekly we first a designed do a that subcutaneous goal, expect, development study, we achieve of to have acceptable, talk us. then we that’s move what

David Amsellem

helpful. a was Thanks. thanks. there, there Okay. know but And that I lot was

Paul Edick

You are welcome.

Operator

Livnat of is question Oren H.C. from Our next Wainwright.

line Please now Your open. is ahead. go

Oren Livnat

you base what given just like taking in Recorlev even up, about remind view Thank am And or would that are regards matters questions. and ketoconazole expect you and ketoconazole are to seeing can you and approved what case Zegalogue. the around extent on know that I with whether for impact us sort commercially you class will particularly On hepatotoxicity you is of asked Dave your just just then, differentiation labeling what on there? share. be labeling, assumptions gaining Gvoke, to curious coming the that one I isn’t? your you approved what yours I And know are expect

ask to there that apology. from Are you regards changes Go you you huge management? utilization I’d So, regards I out generic but with a there there. a think and any is Gvoke know affecting availability extent And problem, it’s do access expect don’t physician to to be something what with headwind an what forward? do going that to kit emergency and patient or to

Paul Edick

Okay.

started even labeling haven’t We negotiations.

get end to day think am I going at I the the really start to Recorlev. going the not At matter. on don’t of the the into day, of So label end it’s

used non-approved broadly. time being are for had out there products a that long You’ve

to going we that differentiated are are not worried We product about that. a have

generic change of in The we marketplace no on the terms from kits to impact can generic glucagon, that assess. In the kits. has the Gvoke branded kits, been the

seeing on on or impact share. our ability to overall not are We gain market any

Oren Livnat

I know quarter. on a just It Keveyis, surprisingly And it’s good. Okay. transitional then, looks

even in a fourth of, quarter. think into a to XQ and flat sort implies going you down guidance or they increase guess, increase, price good I the price took took I

you potential deal I know at part on with there a additional are Strongbridge moving given just term, there just product. there that us, So, of your a could to big other parts? or upside product potential listing the And remind lumpy we just are is high point was IP price of that longer the

XXXX is update assumptions that there will us there beyond and exclusivity. book you So base that remind potentially just in listable the extend anything just And what be I on are the in How general there optimistic your are any Thanks. wondering orange am if for Keveyis? case issued for front. trajectory to the or

Paul Edick

Yes.

third growth. to in think not giving fourth we to no the until didn’t hit quarter the if it’s on are continue patients or nicely. I really mostly not So, the really quarter guidance increase grow and grow so there. think yet. The Keveyis going quarter price was at XXXX quarter, fourth If impact the We of late beginning

and patient is persistence. focus Our then acquisition

update no terms of In there IP, is there.

We experienced That prosecuting of there. time. and Examiner’s is the products, with We the are said, generics, opportunity there the going appealing and process ultra-rare XX% think Office. through probably still an Patent about

sold U.S. product only really have of the patient terms is this drug and aspect therapeutic of So, the particular you the the pharmacy or support therapy. to support through one critical this in in initiation and patients is of specialty initiation

You to to therapeutic them in months management. first their in of of stabilized you’ve – the terms and to really got terms provide of have and few support getting in support have persistence consistency

a that’s generic total potential any order for company. So,

very to in happen, So, whatever the a not say we end generic point. would high see won’t rapidly decline I total being the is, it likelihood don’t which business a is it the this at attractive of but world, less that think day, at

Oren Livnat

Thanks it. Alright. I much. appreciate

Paul Edick

You are welcome.

Operator

Jefferies. of question David next from Steinberg Our is

Your now line open. is go ahead. Please

Unidentified Analyst

Thanks is here. for This David. on guys. Two questions question. [Indiscernible] taking Hey for the

with It And us little agreement? first of terms it royalty milestone and/or track yearend. EU. to looks recently about When outlicensed a you you announced major partners the you just for start areas. describe you then tell to just the more Tetris the interest maybe Can for payments? company. agreement the you like The in more about the broadly, XeriJect, their are Could you obviously, on more on plan XeriJect? And and receiving to for bit other bit just technology a looks second then, before on, just the more you Merck, to like guys expect a us question pharmaceutical recently look the launch tell collaboration still

Paul Edick

Okay.

can countries sales Ogluo the the different for In is for of there launch gone get. haven’t of sales the and There exactly EU. the are But Tetris, milestones we royalty – and pieces are. terms key there on specifics UK EU. achievement the the what And milestones are UK in we into that and

million of partners, approximately, upfronts numerous of milestones, realize in the next think we then, could other previously from territories what we $XX reported goes years. companies and for we in terms And million, around world. inquiries I neighborhood are couple the the if all other yes, well is in of over fielding $XX

We are licensing. in interested

ready as liquid are of to can, world use our the other injectable in is then, suspension-based XeriJect anywhere in any glucagon yet. not territories we that Our any advance but Merck on technology. collaboration, discussions the technology we And

a administration. got lot you monoclonal if IV antibodies the require So, product, of

our What getting can IV into companies game in in IV that inject in order it using in that it an molecules to is we and sitting that it to suspend that demonstrating injection antibody, think could where where the what believe in an business, with in in a needs infusion product interested put very can period over Four put So, a prefilled we can’t are time, large the are changer we we chair other them and product reconstitutes do. and frankly of a of companies companies be and fluids syringe system bag. get a in unique for bodily some monoclonal be. way very an we what instead and it system are that take

Unidentified Analyst

Awesome. much Thanks for me. That’s guys. it very

Paul Edick

Anything else?

Operator

question Mizuho. Alexandre next is Our Instructions] Bouilloux from [Operator of

open. ahead. Your line is now go Please

Alexandre Bouilloux

taking good questions. my Hi, morning. Thanks for

be for question us give Merck, you this follow-up could of sense frame Just with on the time collaboration a exercised? the when license agreement a could

Paul Edick

put is period some won’t achieve that I and over the feasibility stability the our of because the collaboration because time. piece level of a certain requires first not the that product that can’t, I formulate which in we it on we stability but suspension up of piece we

they that think a evaluation been I months. XX to period has historically year the that vary from and But anywhere on the all process. So depending product

Alexandre Bouilloux

Okay. the second for sales just on opportunities my Great. That’s then, Thank Gvoke. helpful. peak you. And question

view talked the changed of Just given curve achieve to your at this product it about anything bit that environment, far. the Has can earlier scrip’s a commercially little data, what peak? with launch you COVID respect so

Paul Edick

at Not all.

we is low the factor on the utilization companies I the say who blood a bullish people is insulin. for time, six severe thing. the Insulin million are are it of on the think risk We Gvoke. end There At day, sugar. over other same all say

some glucagon option. you available, form of on should is If the are case. HypoPen in a the you have Gvoke best ready-to-use just insulin, think We

other that is pandemic. to a of had of ability the We, have two the for there we last opportunity. many tremendous the opportunity think years, So gone in advantage a like, companies not to take months XX we middle because have

but been. ever As we bullish its people we’ve should are – affect, as it effect,

Alexandre Bouilloux

taking for Thank questions. my you. Thanks Great.

Operator

Prince is question next Concerns. from Close of Our Kelley

now ahead. Please Your line is open. go

Kelley Prince

sulfonylurea, the was the I that the know market congratulations of also their people on the and XXX,XXX U.S. on go related every people I progress. all was I hospital to million the also all year mean, does people hypoglycemia, assuming cool just really the had to who take – the the like would that I called of on see. because – for the morning question because so sulfonylurea. It’s on it’s sulfonylurea, we that in to hypoglycemia size, assume are I to six and a Good assuming many

So, about progress indication that. as to talking one for you getting payments all doctors is by there of more and any and especially, start the and that is,

is required side? ER way costs ER hope So I hospital it sulfonylurea you it’s the estimates on I full. what of would which well, the well if would to people had just would mean, And like don’t what and stays kind two is ambulance get reasonable appears But I the one be for over this expense. And But and self-papers with no those well ambulance, – one. in know it? that using I the to it will market wondered its are to and But pretty well of on that – this, just years. well, the know that is is for of the guess think may approaching, I each don’t use this savings, linear about well, last ever lower don’t given that’s in Is the it is – this this that every help to people massive being assume because think some the market to could advantage be if this the visits and on two well, stays. those we think just get if even different. visits, of possible over is is to and – buy which market I But over rather it’s system spent any know, the have would investment understand U.S. the visits a it years none people and certainly we actually hospital amount who

Paul Edick

Yes.

the You a are to on We less to you’ve That’s people are about tend and are of that’s X.X as sulfonylureas because in than, And who make of use glucagon. or million, got absolutely our People that’s at actually focus and where risk XX% XX% number. those question or X.X to that. huge correct. XX%, change we million got maybe getting on focus. ready well. No to itself,

Kelley Prince

Yes.

Paul Edick

emergency the of the In room couldn’t because even of is absolutely years, not emergency The terms to visits in you savings, room. – of available correct. couple go change the XXXX, really data for you last the are

Kelley Prince

Right.

Paul Edick

hypoglycemia. hypoglycemia. actually ones the emergency for anywhere XXX,XXX at year as And show who historically, the historically, only up every room are severe But to quoted that’s from XXX,XXX

historically every from higher. year severe to be hypo. And there would estimates deaths Our been XX,XXX up

Anybody implications And been there pushback medication. the we’ve are any from recognize from We’ve that care. one that’s had payers anything even managed saving this claims reasons on So, pushback because got that life for sulfonylureas, the we’ve no of rejected people significant. who cost no the has payers. are is had a evidence no

Kelley Prince

I that happen And if expects of XXX,XXX able the this don’t did and you be to to like themselves, Co-pays they to a to that you to being you but co-pay? continue incredibly just could really believe any patients that generosity the say to the on about generous Because, helpful. say, don’t you will patients have pay work having so forth? It’s

Paul Edick

Especially, extend support, continually period. Yes. so. was would if zero to low, the during dollar even on bucks, the pandemic, I access forever. and that be it normal XX, But we don’t see go we bucks, it XX co-pay patient lasting XX co-pay our focus through relatively

Kelley Prince

and you do It’s the doing. and it you are a actually we that need perspective, encourage in to from But And okay, forth. really thank especially forth. given might learning any all to so takes of multi-stakeholders much to does we sulfonylureas has people coming this for all Well, can who community policy do zero in a the make acknowledging to out so it people backgrounds proud be as what need terms on disadvantaged making very it easier from lot you. just following more a Yes. just does because work

Paul Edick

appreciate We it. Kelley. Thanks,

Operator

final Our Livnat. from Oren question follow-up a is

open. Your line ahead. is go now Please

Oren Livnat

prescription forward? you just to of expect pretty fourth the QX, is seasonal contraction worth but to sales Hey. flat forward, Thanks impressive know for see be to expect on, I positive gave I quickly volume surprisingly accommodating. net move the than of scrips could Gvoke as going encouraging you wanted you do which touch just and the quarter guide, generally in expect track – we whole you given that it’s market.

no major to moves relatively scrips given beyond it sales at to to value per the translate So, a fourth predictable? inventory There is scrip? in that and quarter

Paul Edick

so, believe I Oren. Yes,

crossed the history They’ve we’ve one is wholesaler the seen enough mark. management their adjustments we’ve inventory that inventory now tighter. a think to got getting lot, as I year lot

that and think got between to is units somewhat. we narrow prescriptions gap So,

Oren Livnat

Alright. Thanks. That’s helpful. for That’s me. it

Operator

We telephone have further no questions.

So closing to back for will hand Edick I Paul remarks.

Paul Edick

very much. and fun. you our Thank much. very have company. growing attention questions. Thank today. And attractive you a time the appreciate And you message is, That we for we Thank healthy was everybody’s

Operator

Thank joining. call. today’s concludes for you This

disconnect now your may lines. You

Xeris Biopharma (XERS) 10 Nov 212021 Q3 Earnings call transcript