Xeris Biopharma (XERS) Leerink Global Healthcare Conference 2025 summary

Strategic focus and growth outlook

• Three commercial assets—Recorlev, Gvoke, and Keveyis—are driving over 30% projected revenue growth for the year, with each product positioned for continued expansion into 2025.

• XP-8121, a once-weekly subcutaneous hypothyroidism therapy, is phase 3 ready, with a planful approach to regulatory engagement and a mid-year update expected.

• Financial discipline remains a priority, with a shift to adjusted EBITDA guidance reflecting a transition from cash burn to profitability.

• The company is leveraging a strong balance sheet and high gross margins to invest in both commercial and pipeline growth, while maintaining flexibility for business development.

• Appointment of a new CMO aims to strengthen clinical and regulatory strategy, particularly for XP-8121 and other pipeline programs.

Commercial portfolio performance

• Recorlev is benefiting from increased clinician awareness and diagnosis of hypercortisolemia, with accelerated growth expected to continue.

• Gvoke maintains steady growth, targeting the large population of insulin or sulfonylurea users needing rescue medication, with a long runway due to patent protection until 2036.

• Keveyis remains resilient against generic competition, supported by high-touch patient services and proactive patient identification strategies.

• Gvoke experiences seasonal demand spikes during back-to-school periods, with payer dynamics stabilizing after early-year shifts.

• Commercial strategy for Gvoke focuses on expanding patient protection rather than market share, with ongoing efforts to drive guideline compliance.

Pipeline and technology platform

• XP-8121 addresses a significant unmet need for patients with poor oral bioavailability of thyroid medication, targeting 20% of the hypothyroid population.

• The phase 3 program for XP-8121 is being carefully designed to ensure broad applicability and regulatory alignment, with a focus on device usability and dosing flexibility.

• XeriJect and Xeris Biopharma platforms continue to generate steady partner revenue, with ongoing development of high-volume subcutaneous injection technologies.

• Future growth is expected to be driven organically through internal pipeline and technology advancements, reducing reliance on external licensing.

• Business development remains opportunistic, but priority is on maximizing value from internal assets.