Xeris Biopharma (XERS) H.C. Wainwright 26th Annual Global Investment Conference summary

Strategic vision and financial outlook

• New CEO aims to build on existing foundation, focusing on both near- and long-term shareholder value, with a goal to sustain 20%+ growth and prudent investment without raising additional capital.

• $77 million in cash on hand, with no plans for dilutive financing; disciplined expense management is a priority.

• Revenue guidance has been tightened and raised twice this year, reflecting increased confidence in growth; narrower guidance expected in 2025.

• Breakeven is reasonably expected in 2025, driven by strong commercial growth and healthy margins.

• Management believes sustained execution and demonstrating self-sufficiency are key to improving investor sentiment.

Commercial product performance

• Recorlev for Cushing’s disease is accelerating in growth, with increased referrals and patient starts, aided by sales force expansion.

• Recorlev is differentiated by its broad indication and multiple mechanisms of action, with patients coming from diverse backgrounds and improved conversion rates from referral to therapy.

• Gvoke continues steady year-over-year growth, capturing new patients and gaining market share, with focus shifting from competition to expanding the overall market.

• Market education efforts target both endocrinologists and primary care physicians to increase adoption of ready-to-use glucagon.

• Keveyis remains resilient despite generic competition, with patient numbers stabilizing and brand loyalty evident.

Pipeline and partnerships

• Once-weekly levothyroxine injection has shown promising phase II results; end-of-phase II FDA meetings are planned by year-end, with more clarity on pivotal requirements expected in early 2025.

• The company is open to both independent development and potential partnerships for large market opportunities.

• Multiple technology partnerships exist, with three publicly disclosed; milestone timing is uncertain as it depends on partners’ progress.

• Communication of partnership milestones will occur when they are meaningful to revenue or operations.

• Ongoing efforts to expand technology partnerships are underway.