Xeris Biopharma (XERS) investor relations material

Business performance and growth

• Achieved 43% revenue growth in Q1, reaching $83 million, and raised full-year guidance to $380–$390 million, representing 30% growth at the midpoint.

• RECORLEV is the primary growth driver, with strong new patient starts and referrals, and momentum expected to accelerate in the second half of the year.

• Gvoke generated about $21 million in Q1, impacted by seasonal Medicare dynamics and plan redesigns, but is expected to recover with seasonal trends.

• KEVEYIS remains stable and slightly growing despite generic competition, attributed to strong patient and clinician support services.

• Gross margins reached 87% in Q1, with positive adjusted EBITDA and net income; cash balance exceeded $110 million, supporting reinvestment and financial flexibility.

Commercial strategy and market expansion

• Doubled RECORLEV commercial footprint, expanding sales, patient, reimbursement, and pharmacy services, with new hires trained and deployed by mid-February.

• Targeted prescribers increased from 6,000–7,000 to 12,000–14,000, expanding reach and depth among clinicians and new prescribers.

• Sales force expansion expected to show significant productivity gains in 6–9 months, with peak productivity reached in 12–15 months.

• Over 60% of RECORLEV patients are new to therapy, reflecting growing first-line adoption among clinicians.

• Patient services, pharmacy, and reimbursement support are key to persistence and differentiation, especially in rare disease markets.

Product pipeline and innovation

• XP-8121, a once-weekly subcutaneous levothyroxine, is on track for phase III initiation in 2024, targeting a 2030 launch and a $1–$3 billion market opportunity.

• Phase III will use the commercial device and formulation, aiming for non-inferiority to daily oral therapy as the primary endpoint.

• R&D day planned for early fall to provide more details on XP-8121’s clinical program and market opportunity.