XERS - Earnings call 3 2023 | Xeris Biopharma Holdings, Inc.

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Operator

Hello, everyone, and welcome to the Xeris Biopharma Third Quarter 2023 Financial Results Call. My name is Bruno. I'll be operating your call today. [Operator Instructions]I will now hand over to your host, Allison Wey, Senior Vice President of Investor Relations. Please go ahead.

Allison Wey

Bruno. you, Thank welcome Conference and Biopharma's Quarter Third Good and to Webcast. Results Call Financial morning Xeris A with on this morning press issued and was release can the company's be found our results website. financial earlier

Shannon, Officer.After this for morning questions. the Steve Edick, CEO; Officer; We are remarks, our Chief we by Operating Financial joined Chief our lines prepared Chairman Paul and John our Pieper, open and will

Q&A from portion we've In of to concerning a contain plans, extending addition, financial expectations, we begin, questions receiving will forward-looking prospects future number remind this performance. we been shareholders.Before the routinely to you some be our of statements like call company's and answer I'd the that will

differ Form materially those more are risks, refer filings, represent on included to statements.For Any subject please on XX-Q of from and such that will risks laws. over quarterly information in SEC our statements subject statements.I'll the obligations update now to factors our call views including and that We this such as our risk this to our release to the turn date report call to earnings applicable today. of could in statements forward-looking any press to uncertainties forward-looking Forward-looking results only disclaim Paul. and be cause actual filed later call

Paul Edick

net XX% XXXX, our XX% a a this we all posted quarter, consecutive X of of to quarter the total enterprise.We making at to focused on I'm quarter the Allison. the pillars remain least say a year.We Thanks, from perform third self-sustaining third for for second from executing substantial revenue you of the high and that organization of increase Good business. in at patients, patient-centric, biopharma morning importantly to once from delivering again are excited continues year, we increase XX% which this on growth fourth entire thank quarter is us today. revenue prior net a level, everybody million building $XX of recorded joining and and the most Xeris very

which -- -- and once third and subcutaneous XeriJect third product Recorlev prescriptions end of all continues between our innovative last total of products products of to for XX% impressive we Gvoke increase into generated of over increase for and XXXX.Market revenue is generating products a highly $XX Total quarter increase in commercial allows and partnerships. from of compared quarter XXXX. last our period second original XX,XXX, a growing And year were targeted performance in this another of prescriptions, other million new and quarter now October, hit to year First, commercial technology performance in consistently to $XXX product the majority driving double will and clinical our represent in now At both third, enrolled new of continues X XXXX pipeline, in We approximately of quarter more let's the the our bit quarter revenue, levothyroxine guidance ready-to-use million revenue Steve increase Gvoke, we're net and of ready-to-use XX% value-added formulated share market XX% our over XX% net prescriptions. a pillars, to third to in quarter full growth XX% Phase over products grew same the dig market retail year.Second, second the third is and $XX.X market XX%, over more. the study. year net business Gvoke the the total to total discuss by XX% XXXX development compared had market our record respectively.The quarter, million new million, Keveyis new prescriptions growth. ultra-concentrated an collectively our glucagon guidance. our And approximately meaning digits top us and the now XX% end financial $XXX to Gvoke again, XX% to, now detail.For capture TEPEZZA. glucagon share. version of outpace on tighten all by successfully executing revenue in Gvoke expect that X glucagon also

mentioned we momentum sales glucagon expansion another we in As continue our growing last call, Gvoke's in the have market. the inside to of in modest invested team

to is rescue ASCP living. opportunity. have reps quick to recently, with the ACE very a on severe severe ISPAD, of hand, is at increased similar inside event.Obviously, are growth, assisted management Less fourth just productive market the XX% in than in people also product a group. protection Gvoke potentially far that Gvoke approximately leaving guidelines added or for too share.Even protocols and this this team glucagon left with Endo, generate still without awareness on surface by introduced have This recently bringing quarter year, against double-digit to steady We we ready-to-use scratching low of ADA, hypoglycemia care updated risk event drive most sales They're older Based sugar this XX. and opportunity diabetes of many life-threatening hypoglycemia patients blood large. long-term a people

second of diabetes the addition still stakeholders primary HypoPen. should are advocates with like estimate care. sugar. of Gvoke million be declared carrying Recorlev. for severable demand glucagon to increase continue over the robust quarter. in of quarter professional the of should an So in XX over generated revenue universe anticipate to same glucagon at professionals patient growth the them of of a XXXX. such XXXX and have being standards key referrals practice.On as healthcare Gvoke and We're the the ready-to-use organizations million net people Recorlev quarter XXX% as need period be quarter, XX% to rescue adopt and fourth A The We an We patient and on healthcare increase risk rescue and of this of all to is ready-to-use element same get standards a continued double-digit the steady that the third revenue professional light.We be factor quarter-over-quarter.Patient underlying see the increase are those increased very who of of insulin pleased blood well. sulfonylureas, as $X.X over in XX% with risk Recorlev low opportunity in approximately in the second grew

Our suppressing healthy Recorlev pipeline professionals indication healthcare approach and patients.Given the for syndrome the is option are an Cushing's important Cushing's for their over key also production, post-surgery. that of often patient as multipronged healthcare first-line as referrals by to cortisol Recorlev's a treatment seen value community Recorlev as

Keveyis have sales team as Cushing's to our as and the advantage to support added in an great modestly conversion with quarter and well referrals had take the the As Gvoke, we handle of of Keveyis. and to of growing patients the to to on new in show the steady face number tremendous referrals therapy.Moving well, patient continues revenue momentum therapy another terms referrals approved on as accelerate increased durability of to in patients market, generic. team

second mentors medical value revenue $XX.X XX% of of therapy.Now sub-Q referrals injection. an the our assist Xeris this million, potential period to our CareConnections as quarter team, Keveyis from compared processing PPP securing levothyroxine, once-weekly to and community support in of increase authorization an support providers maintenance XeriSol to which was approximately a patient reimbursement represents increase recognizes Third of and well XX% for same the year.The initiation by provides in quarter the XXXX advocates of patients and as which and

have that earlier, X means patients enrolled, XX% mentioned patients which I second began being which the we the As is enrolled in quarter, been Phase study, enrolling now over dosed.

we molecules technology of profile $X to available clinical to product we future option Our of receive entitled the development a the the is our and continues regulatory program the in waiting option goal primary the in decision pivotal Amgen with complete half be said Horizon.We clinical announced exercise commercialization Phase for Regeneron to program.Now executed their was And TEPEZZA the associated target platform commercialization to with from any XeriJect the update formulating for data help the additional milestones, that time platform.In which technology I've formulations Phase payment If to sales.As development a discuss eventual we deliver proposal and license of collaboration, for whether further to of addition, is our evaluation X see data molecules may further also for XeriJect X to the -- inform or an first the for execute such, an next they to sales-based subcutaneous development to TEPEZZA. previously, midyear. collaborations XeriJect has prespecified option prespecified based the of are by the development on we the mentioned, numerous and year acquired milestones their formulated as recently XeriJect study business. study I on from and license to Again, in Regeneron which FDA currently X are exclusive formulation and we the at on TEPEZZA, formulation additional success Amgen, nominate will of royalties XeriJect any acquired development to indication molecules milestones, want Regeneron. expect as million recently sub-Q as of XeriJect companies. we continue successfully the and the for

successful growth quarter formulation provides from biologics delivery the of and large commercial one of we have target significant subcutaneously.In with system advantages portfolio molecules delivering delivery unique summary, our in of partners. revenue and of and great available another Our the other over technologies formulation delivered our record

prudent disciplined We resources and allocation management. commercial continued expense strong of performance,

position, to guidance be maintain financial enterprise.We a to continue also We healthy self-sustaining this ability time. a our continue providing supports to are XXXX not at which cash

quick However, a I want to share outlook. high-level

total to financial obligations provided cash the remain March over invest fourth our full be net details again to year to XXXX call continuing of now will to enough fund Steve our report reduce of levels, from and specific year the to the third financial quarter continue turn at meet have expect guidance in the the XXXX to cash expenses burn, revenue we will performance. on our XXXX.I when We additional and to More growth for quarter company, end enterprise. our and operating in grow flat,

Steven Pieper

good Paul, everyone. and Thanks, morning,

mentioned, are all we executing As Paul on fronts.

continued revenue XeriJect all products. profile growth We TEPEZZA. X have formulating target We product generate of to across net in the prespecified succeeded

flow our we by by driven until coupled demonstrate by product in run notes due quarter for share total into has a products, XX% the continued breakeven ending retail strong prespecified $XX approximately profile the Recorlev. the Gvoke's the more October, $X.X notes cash with million to demand our a are quarter quarter representing in to prescriptions convertible compared total to the XeriJect increase of and million million, XXXX.For $X an We of to $XX.X million In strong QX convertible in net was year. increase in to total same convertible Gvoke exited to revenue third record quarter, XX% grew no The extremely flexibility remaining We record increase management. was hit a million.Gvoke track market a XX% pricing. increase X/X XXXX, notes disciplined total recognition patient only XX,XXX TEPEZZA, revenue Recorlev glucagon patient basis. topped for leaving financial of prescriptions for cash compared a retail same X% same fourth XX%. net of quarter last third XX% the share July increased than net XX% healthy XXXX $XX.X was senior increase revenue over and of Year-to-date ending with revenue position cash other in which target XXXX the exchanging created over grew for for revenue last market year-to-date million, quarter, to the was XX%.Moving Gvoke XX% business demand first was continued the period a and prescription quarter.Lastly, $XX.X third the X% year. prior senior due period, debt an quarter, million, performance prescription a time, significant the and compared due market representing total versus XXXX.In XX% successful increase on the all representing a year. the period to one-time X the formulation approximately of quarter. with for the in on month third net quarter quarter for in $XX.X a to XXXX, same last the due revenue triggered the net the Compared the

net a steady Recorlev's to referrals the Year-to-date bodes the previous net XX% been to to by the with brand patient continue defend representing to are my our XX% last strong, and Recorlev.Moving compared We increase remarks, year. successful in invest prescribing was the to growth. was period growth Furthermore, million, compared which future same for period revenue encouraged quarter well Keveyis. million, date. demand last Keveyis of strategy increase $XX.X representing revenue year.Consistent remain a to same $XX.X Keveyis for has

to We regarding acknowledge year-to-date to in to the is that over with in XXXX.Moving CareConnections will our over our CVR will Keveyis questions settled equity $XX the wanted which we milestone. the and This invest achievement to offer We technology Xeris patients.Before Xeris will they have for PPP partnership Keveyis the the support wanted XXXX, QX to revenue Keveyis milestone exceeding $XX be XXXX therapy move CVR of million, milestone trigger CVR as mention I in million. business. continue on that technology Keveyis and received partnerships, best-in-class I late

target triggered subsequently million end million the our XeriJect product a one-time increase was goods the quarter to quarter. achievements our in quarter revenue payment which for results P&L. year. the down are means high This the in raising to overall recognition million $XXX received come formulation revenue revenue issued to XXXX guidance.Moving XX% of million our As in the end at $XXX we year-to-date will to million. prespecified third sold on previously million, $XXX profile compared full-year original XXXX, for low of a of Cost formulated we guidance our of the the we was technology $X.X same $X last the which and October.Looking previously ahead $XXX collaborations, We the mentioned, based TEPEZZA, successfully in in

guidance the of product the driven $XX sales.Research increase of same million mainly to the SG&A primarily This the were expect last year's expansion.Compared period however, for expenses $XXX,XXX the cost quarter. last was the fourth an million, flat administrative to, an and development fourth sold On further force is sales quarter decrease in quarter. For increase compared decreased year. SG&A the quarter, by XX% driven which year-to-date for by we of was million to looking $X from basis, in actually is last by quarter would year-to-date same quarter, costs general year-to-date $XX.X SG&A year. to And quarter the approximately ahead, and year, the approximately was last or on the basis, goods increases a $XX.X SG&A Selling, an for million with $X $X.X to be position. year. ended to consistent expenses expenses increase X% relatively cash million, increase an only and a prior $XXX.X of year were million compared million flat versus with period are relative healthy XXXX. XXXX.We higher personnel These This previous in our that increase the a very

million total million As of cash $XX compared at XX. September had of to June we approximately XX, $XX

from expected cash fourth the when utilization achieve we for to our on XXXX flow we firmly drivers quarter we We quarter, through of flow which expected cash. breakeven.We achieve Amgen, including $XX reduction partnerships, with to include of to SG&A our of cash additional products timing from quarter $XX a the in of various payments.We expenses and of flow least XXXX at million one-time vendor fourth cash middle remain the on are breakeven until to executing strategy and, the to million the track have the mentioned, fourth previously as previously moderate finishing guided cash and payment

XXXX Paul more XXXX of ending of with equivalents cash, at Given XXXX XXXX for we a short-term investments. least dramatic This our full early guidance, is to in cash to year we a meet from will continue believe grow when obligations remain of in questions. the net March our have mentioned, of relatively million, XXXX will levels continue cash year to coupled and we results.Operator, while provide operating over imply open and for enough enterprise significant end we full the will total in growth the announce the for to to XXXX cash initial the and our utilization cash million, cash flat, million our will please still specific together it assumes revenue while XXXX.We will self-sustaining guidance of expenses specific than the reduce invest QX, utilization really over year line improvement provide a which in will continuing outflow would $XX finish financial no XXXX at outlook improvement.As too business. $XX $XXX remain overall XXXX cash

Operator

Amsellem We from Piper do Instructions] [Operator from David question our first comes have Sandler.

David Amsellem

few. a Just

specifics the of some Can are to what how on competitive secondly, about treatment Recorlev. in thinking thinking And with lastly you of experience? you And then longer on potential with share to of Recorlev, into Corcept's presence just of like? that regarding what then about terms just the view naive then what is landscape and Can talk the market in in how Amphastar go impact patient you presence who you're space seeing the Baqsimi And product versus Recorlev? on voice footprint could Gvoke, you're And and trajectory patients talk First the can the on in your treatment hands? relacorilant you're changing how XXXX? is term. the

Paul Edick

to here. my losing Thanks, of I'm going these do to answers. David. best. may my Shannon some to for I'm voice of go I need John kind

a activity, market to start and actually end Gvoke, be continue their -- Gvoke product, think think to XX be We're we're But At goal The your to extinguisher Corcept more any to the to market. product is replacement really it's glucagon, or this people in rescue That's people at build voices much it's protected glucagon. that competition. Amphastar hoping be least going have thing. million carrying fire penetration.In more would die.So new to helping people We business. who the HypoPen terms pretty they're of in going talking Lilly need question, ready-to-use share and other the because and I the to are or forward more home market. be or times. rescue in ready-to-use insulin trading and going be on We sulfonylureas products, the good the that. voice, can similar about in performance goal many, -- pretty our said be view loud this have to is me to think Let be voice to is I've the out looking we of market many

a As one you really cortisol. we've as about, and talked We that big doesn't normalize cortisol. and pretty Korlym product know normalize is

And a so we think use We it we're not patient in competitive see, what quite so I'm says of got product. we've you then young help? Recorlev a starting span.And Recorlev, to you product think then a result, that. mean better who better That first Recorlev a performs that's footprint, are terms life And beginning as the can and lot by its with environment about physicians in line. to sure

David Amsellem

are I drug. how is patients many What I what on That's meant meant.

Paul Edick

You sneaky guy, you.

competitive we're for too have. to competition. those that speed now, is the love in metric I great the versus relative -- success that, we referral referrals patients to actual our that's strong. we base and a right the which And And But being the convert into continues drug. with we're be to variability on we're -- having don't And Recorlev that. new business are everyone reasons, -- but in know really about We growing talk would and we're

Operator

Juan from Our next question Luis Partners. Blaire from comes

Juan Luis

any, proportion broad what's another rates So maintenance of existing seeing, anecdotally, patients have And for far? discontinuation Recorlev you what Recorlev could stable strokes, I you're or me. about curious, reached just so Recorlev talk if was doses? for question

Paul Edick

sense tell things. DC to insurance, digits. So of other would end could very I of have very, year various vary of single terms but you early in And it's the reasons it's the too a low, rate,

while.So seeing early So I terms ongoing level but are in the physicians starting negligible.In of it's at really but titration. we really an titration. The but people yet. range, who at being in aggressive We're XXX sort are remain handle of not whole to have starting seeing still to have at out XXX patients for see DC XXX aren't on titration. quite people the stable who being their gotten dose, dose the terribly too mean, there to optimal titration, a rate, very range, we're a end in the the doses far of few so we're whatever early at

Juan Luis

well. revenue might Got bit about was little I it. talk the for in have or the a trends growth curious could And XQ. one you you if any question drivers other Gvoke back-to-school more quarter seen as in of

Paul Edick

think -- I we Yes. in mean, back-to-school. did well our I

Where endocrinology back-to-school something and saturated XX really probably large, really tiny pediatric endocrinology. you is it's been opportunity Lilly kids vast historically segment we're make in and the And As sure But where small pediatric adults. strong that's market. most XX is. very Also, is not the getting been has and our they have million, time.Most something. And Of parents have a know, pretty a period. very majority it's with has growth over by segment. much the a of and the adults kids. of are million

So back-to-school, that's both period did in targeting during really adult also period share. we to total really continued And as and grow did peds, we're well and that in well scripts the adult. our during but we what

Operator

Alison to you. the Q&A. now over for would call Over turn I to Way to additional like

Allison Wey

will Thanks, Rene. of from our team shareholders. we've the that questions take some this At time, been receiving

by So grouped we've questions topic. the

question, with committed Steve.Is start Xeris and positive So no let's cash to dilution? the flow financial

Steven Pieper

Alison. Thanks,

we fourth Therefore, we will anticipate diluting So moving our cash have will we shareholders. for achieve meet forward. cash we as plenty discussed, -- and to flow quarter plenty the of breakeven obligations don't

Allison Wey

Thanks, Steve.

coming one do this achieve just at full net point way. breakeven, point but flow not to Another income? expect you what your cash year profitability, -- At

Steven Pieper

as level. in that morning, and a to the we few company. our to I a So, times enterprise But remain growth continuing this the to meet self-sustaining cash in we enough haven't have invest while here mentioned given guidance obligations

Allison Wey

one. next revenue Our tandem are Why expenses operational growth? scaling with in

Steven Pieper

increase grew XX%. operating $XX grew compared revenue of of company of expenses to basis increase expected whereas Translated $XX like million. growth year-to-date is total revenue in due an growth to growing sold by cost a on of over to And by is are sold that goods grew cost expenses revenues operating half by and our are. X%, in million where goods expense Actually, dollars, Xeris an in our a

Allison Wey

you into the levers? Can you. place ensure Thank insight strategies to operating provide in some enhanced

Steven Pieper

to significantly just holding strategy. our we our our faster our rate a revenues continue executing growth of really covered, while operating that I at as means grow expenses fraction is growth. a So revenue we're on This that

Allison Wey

better so When as operating we Thanks. this will far leverage in revenue? see nearly that as year, expenses are fast growing

Steven Pieper

So revenues I much are. growing think we clip just covered are a higher than expenses at that, that

Allison Wey

are SG&A Thanks. curtail to elevated What initiatives being considered expenses?

Steven Pieper

relative So last remarks, in as covered actually in we quarter. expecting a of I my has management continuous expenses fourth the decrease and further prepared SG&A resulted in a quarter, are decrease in our to

Allison Wey

there Are strategic longer Thanks. payments? through motion burdens to in plans interest mitigate

Steven Pieper

looking increased news many given So just that others, from facing hyperinflationary of We, cost to our meet the is, of are our operating like said, I borrowing, are to in That an we the ways these covered being the addition given what to health finance expense actively focused The good are on we enterprise. can macroeconomic burden. cost management, we equally reduce cost obligations. for environment. business,

Allison Wey

on the Thank you. a Xeris cash float? to buyback hand extra consider Would with reduce

Steven Pieper

Therefore, our we have support the and to our company rather X value greater a believe immediate strategy Good for share deliver investing pillars plans share than no in we will question. buyback. buyback. our do a to Currently, growth shareholders

Allison Wey

legacy you, shareholders. for CVRs the address Please one for Strongbridge the Steve. last The

Steven Pieper

Sure.

$XX million. As revenue believe settled the XXXX, in which XXXX. in I exceeding this our opening mentioned is year-to-date Keveyis million, trigger in Xeris a achievement for the the QX $XX of is CVR that Keveyis equity over of $XX my and year This of in late over Keveyis will milestone milestone CVR outcome be revenue We Xeris remarks, delivery XXXX will great shareholders. million

Allison Wey

next the The about pipeline. Steve. is questions products our set Thanks, and of commercial

Gvoke So growing John, you take why do to are that? want sales slowly.

John Shannon

have market This of don't The alone, you same prescriptions in last that year Gvoke XX%. with heard, year. sales compared we've Gvoke Sure. approximately is we period over the Well, the first just agree XX% slowly. grown time growing characterization grown glucagon to all,

what proud is significantly commercial So increase of We're -- Gvoke able to we certainly get as team very able slow growth. Gvoke diabetes, growth. the to and been hands growth wouldn't of our in market has characterize people have outpacing been get the with XX%

Allison Wey

initiatives both in place for sales elaborate and Ogluo? Gvoke momentum to accelerate the Can John. Thanks, you please on

John Shannon

Sure.

Let me go backwards.

with start me Let Ogluo.

in Ogluo additional launched, our As partner their we've they've mentioned consists the as in Gvoke growth are licensed know, they to sense it in already to Arecor. Europe.With you in makes of in increasing regard European utilization countries we've where this plan, launch U.S., year to where I continue They executing the alone. and on which seen previously, prescriptions already a XX% countries

updated earlier.Basically low sulfonylureas on of case medical severe ACE, from increasing most anyone importantly, leveraging teams our which a a recently hand, utilization such mentioned guidelines our ready-to-use blood sales So should as driving awareness, that or Paul of ADA, Endo, and just marketing will just Gvoke, have on continue execute in the insulin sugar. all glucagon recommend to commercial plans, are which and

on is guidelines focused of new team health care making outlined in all new care the of Our the medical professionals. for standard practice commercial this standard

Allison Wey

Thanks, John.

addition, can on In associated expect progression updates received? of the and the we Ogluo any any material European market sales of milestone timing in

John Shannon

we near Europe. material term, fine don't expect Ogluo any first, don't is the Well, expectations and Ogluo milestones. In regarding any near-term we regarding have doing in updates

Allison Wey

as could the shed light markets strategy pronounced diabetes international entry the in on the some market team Gvoke? such for specific prevalence Considering of Thanks. Mexico,

John Shannon

work Europe, our all the outside we've plans therefore, analysis, markets don't So any evaluated exception any the in larger we on the economics market simply Gvoke based partnership opportunity have the U.S. Xeris. of launch other And major markets. assessment, in to And the with don't financial for

Allison Wey

take updates to Any patent? on that? John. Keveyis want do Thanks, you the Paul,

Paul Edick

future times Court as a Federal update -- events. our appeal the appeal Circuit I've There go our in of have process and in as couple that Yes. the mentioned have continued previous of we'll to we the we calls, with now We're it filing through process.

Allison Wey

levothyroxine there plans to development the pipeline coming Are than the Thanks. add quarters? to other more in

Paul Edick

we're from continue as about develop perspective, technologies down own the to our into going technologies portfolio. for best is we Right to able our that we will how eventually approach said That that our pipeline very pipeline we our injection opportunity the our we have. levothyroxine we bring now, be once-weekly products disciplined the new allocation we focus Right and our focus. road, to an is levothyroxine. our of resources now, portfolio. use into can are sub-Q how said, and We've use It's

Allison Wey

Thanks, Paul.

on to the our partnerships. Moving and and current potential XeriJect technology

So on anticipated inflection Regeneron, please potential Amgen-Horizon, timelines expected strategic update with provide a XXXX. by comprehensive trajectory the end points year and outlining

Paul Edick

there's very further on product development. We can able pick waiting a our think question, are to people's we products quite we're Amgen-Horizon up little are whether to partnerships going and have with I and their projects got say license the technology, profile. the that and Horizon Amgen and target hit is I decision the highly now say molecules with is our and other answer. confidential. people formulation hate on publicly.What that This working payment, We're they we're gone people's The has We well. Regeneron for great both and to other want

formulating at time, at great outcome. to platform. well. development as of a a up add that's we're they any any the point products. continue for They process the license said Horizon, can And think they in time continued can and previously, the from I've initial The pick in I products -- could

something add with the are where they at overnight. very So formulation that I will those do we're this I partnerships take is that time. process not pleased mean happens point.

Allison Wey

Paul. Thanks,

subcutaneous platform the John, are what advantages providers to do injection the XeriJect process? to take the that? other competitive of you So want of relative

John Shannon

Sure.

sub-Q can So our XeriJect with ultra-high reach concentrated platform, injections. we

XeriJect formulate what X- milligrams a X-minute allows technology Our very So in a other XX-second infusion. mean? to administered is needle. a XX- per delivery and to injection that be to does in XXX through small might a can to technologies This in comparison to us sub-Q milliliter gauge XXX that sub-Q deliver

form, or potentially IV Our even into out office allows traditionally drugs at are administration the and them self-administration to home. potentially us Xeriject infusion technology center that of a doctor's moving formulate

Allison Wey

That's great.

you potential from formulation TEPEZZA how potential benefit a can that their partners John, medicines team talk like or having on So, to molecule? could XeriJect identifies your

John Shannon

think just XeriJect. of Well, proposition value yes, it I the covered

candidate and a benefit office is at administration, So drug center a from the or today that IV administered in becoming home. ideal a currently infusion potentially is could doctor's sub-Q an

those So to companies, true on focus talking we when as products types opportunities. of partnering

Allison Wey

Right, thanks.

So Paul, platform technology is take the determine how does fit? long a it good if to

Paul Edick

through achieve to Yes. work is refinement Each different desired formulation months target and to go profile. of product we a several partnership

formulation We've fit. not a a formulate. of rounds was As to getting optimization or partner through, whether several not formulate or going is immediately that a to a rounds given anything of identification we've John by to that At of takes been is failed hundreds day, the viable that and potential end of of formulation. the attempted target the asset of to

Allison Wey

with So license then moved yet? one why forward no has a

Paul Edick

today's purview world the a of and we XXX% molecules, and partner. question in antibodies That it's biologics In the and good That's of large competitive. monoclonal that asked lot. incredibly is get a

do the molecules And really entry reasons price the what for injection. talk can have deliver least for of that to every be money day. the product. We're what But analysis say, the IV their end doing lot we happens a once it's of more want these at you own clinical the that assets pipeline. lot a internal one no we of what those okay, spend on of companies about. market-based subcutaneous the sub-Q that, can of is of and they're in goes option them we development?So price so process prioritization companies confidential of on then a that is have, can't through The entry these of giving it's longer is in to to terms of of all at One their an we a

of well, to with endpoint studies. failed very at successfully some but Their look similar with Merck, the product you formulation for in If ago, they chose -- targeting. product its Asahi formulated. take their meet a process, we've -- of Kasei were forward that reasons they to they Same successful competitive couple partnerships, not years thing in the market clinical

So nothing us. do with to

is the So for a it's that companies. pipeline-based in partner it's and decision portfolios process decision a a

Allison Wey

are last you. for The Paul. few Thanks, questions

the Board any buying aren't management So why Xeris share? and

Paul Edick

That's a good question.

public eventually significant investments. member in every companies of the that. in and and do people a assets single acquired can I going invest business, Our in always management this least I at I has I really own we're kind pay buy annually, as think own this will in, And company my off have record, shares our of has pretty to team it's whatever bought team semi-annually. We with believe to -- continue their think almost heavily continue management believe I way. with and we shares to I, see in

Allison Wey

And you correct? haven't sold any shares,

Paul Edick

this None been of selling I don't contemplate the shares sold. at point. even have

Allison Wey

Thanks, Paul.

and strategy that given is statements? You've purchase of of an the that of an additional past a What mentioned [indiscernible]. your part asset acquisitions XXXX or likelihood Xeris in the the includes in recent organization

Paul Edick

don't I the to answer know that.

become but be active. look going a that to we add things enterprise. opportunistic, anything I very We at lot at We're our goal looking available, radar. think very to the our as of to across We're continue is we're things. to come

So if add thing product financially benefits Same affordable, efficiently acquisitions. to opportunity there's potential with a pursue to it. an that's we'll company us

Allison Wey

And could if company Thanks. make office compelling? to approached a parameters so, financial acquisition delineate the such with Has the any would you been that transaction date?

Paul Edick

Yes.

public As that a ever nobody answer company, question. will

Allison Wey

breakeven might influence are efforts flow institutional what So relationships and a funds deepen institutional cash being point how to cultivate with participation? achieving undertaken long-term and

Paul Edick

the We to to given, I flow to I more almost going attract at and in from breakeven some think. of And business. of shareholders of with deal biggest any or we're getting is cash and spent our think banking institutional a the great I all that's minor profitability all investors, better mean, in moving time lot a investment. company conferences. of through institutions a retail

think I our full. to X calendars couple in weeks. of are going And we're next the

So conversations. we're those having constantly

Allison Wey

together the Paul, as in team, Thanks. final the strategic term? past. has for goals success And still the this Is as team over companies. Xeris returning same committed what your The results to are building question. other team one this medium had the leader of

Paul Edick

So early stages. and with talking we're XXX% done in team about We're enterprise together is committed. that. came still the build the when the an not team, to really We

as And this significant DNA the we've established the an built to done continue years, And have and I kind be a emerging face it's single execute early. may which the a in demonstrated significant could over of asset, to it and growth we've emerging, closing, built And the to this biopharmaceutical revenue aggregated X hopefully a growth-oriented promising of in everybody it a of and We headwinds organization.I this self-sustaining answer building in across and lot continuing company. the And committed a I lot improving appreciate in range that We think think questions. therapies lives a came self-sustaining we're patient forms but over technology word driving by be emphasize products. business. speaks have of company them questions. a accumulated blockbuster pipeline. that's We've questions we've in, It sending all the I asset. for in. to the of different

of to have Allison.And as us to you we routinely. the date for clarified healthcare the every thoughtfulness. professionals best say enterprise hopefully, to happen conclude, thank day. pretty in I'd And Xeris them patients proud. if to there's, thank today possible. think once I'd we've performance questions proud questions, some all your to it and please to for who get our I for like joining degree, into lot we of additional And growing and continue And very send look like the everybody And be a employees we're to can make the to that which forward and again,

Allison Wey

Thank you, Paul.

Operator

Ladies call. Thank and today's joining. for gentlemen, this you concludes

a You may you. Thank now great your day. Have disconnect lines.

Xeris Biopharma (XERS) 9 Nov 232023 Q3 Earnings call transcript