Xeris Biopharma sees FY22 sales at top of $105M-$110M range, consensus $108.04M

Xeris Biopharma announced that, in connection with investor meetings the company is planning to conduct next week in San Francisco, it has updated its outlook for FY22 expecting net product revenue to be at the top of its guidance range of $105 million to $110 million and its year-end cash balance to be above the previously announced range of $110 million to $120 million. "Our momentum continued through the fourth quarter with strong patient demand for both Recorlev(R) and Keveyis(R) and better than expected prescription growth for Gvoke(R) giving us confidence that we will end 2022 at the top of our net product revenue guidance of $105 million to $110 million," said Paul R. Edick, Xeris’ Chairman and CEO. "Also in the fourth quarter, we drew down the final $50 million tranche from our Hayfin debt facility, received an upfront payment from the Horizon Therapeutics collaboration and option agreement, and continued disciplined management of our cash and expenses and expect to end 2022 with over $120 million in cash, cash equivalents, and short-term investments."