Xeris Biopharma Holdings, Inc. announced it expects to generate total 2024 revenue of $203 million, surpassing its previous guidance of $198 million to $202 million. This projected full-year revenue represents a 24% increase compared to the prior year. The company also anticipates ending 2024 with over $71 million in cash, cash equivalents, and short-term investments.
The strong performance is attributed to accelerating demand for Recorlev and continued robust demand for Gvoke. Fourth quarter 2024 total revenue is expected to be $60 million, marking a 35% growth for the quarter. Recorlev net revenue for Q4 2024 is anticipated to increase by approximately $5 million, or 28%, sequentially.
The company expects to generate positive cash flow in the fourth quarter of 2024, highlighting operational efficiency. This financial strength positions Xeris for continued growth and advancement of its pipeline, including the Phase 3-ready XP-8121 program.
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