CHICAGO - Xeris Biopharma Holdings, Inc. (NASDAQ: XERS), a biopharmaceutical company, has announced an exclusive global agreement with Beta Bionics, Inc. for the development of a novel glucagon formulation for diabetes management. This collaboration centers on Xeris' proprietary XeriSol™ technology to be used in Beta Bionics' bi-hormonal pump systems.
The partnership aims to produce the first dual-hormone pump that utilizes both insulin and glucagon to regulate blood sugar levels in individuals with diabetes. Xeris' Chairman and CEO, Paul R. Edick, expressed enthusiasm about the venture, highlighting the company's commitment to advancing this development program swiftly.
Beta Bionics, known for its iLet Bionic Pancreas platform, seeks to enhance glycemic control for people with diabetes through technology that adapts to individual needs. CEO Sean Saint underscored the importance of integrating glucagon in their systems, comparing its role to that of brakes in a car, providing a balance to the insulin 'gas pedal.'
The terms of the agreement include potential development payments to Xeris, as well as royalties on future sales of the glucagon product designed for the pumps.
Xeris, headquartered in Chicago, is recognized for its range of therapies, including Gvoke®, a ready-to-use liquid glucagon for severe hypoglycemia, and other treatments for conditions such as primary periodic paralysis and Cushing’s syndrome. The company continues to extend its product pipeline using its XeriSol™ and XeriJect™ formulation platforms.
Beta Bionics operates as a for-profit, public benefit corporation and is a Certified B Corporation. Since its inception in 2015, the company has focused on improving health outcomes and quality of life for those with diabetes and related conditions.
The financial details of the collaboration were not disclosed, but the agreement includes provisions for development payments and future royalties to Xeris. This partnership is based on a press release statement and represents a strategic move to enhance diabetes care through innovative pump technology.
InvestingPro Insights
Xeris Biopharma Holdings, Inc. (NASDAQ: XERS) has recently made headlines with its innovative collaboration with Beta Bionics, Inc. While the strategic partnership focuses on developing a cutting-edge glucagon formulation for diabetes management, investors and stakeholders are keen on understanding the company's financial health and market position. Here are some key insights from InvestingPro that shed light on Xeris' current financial landscape:
The company's market capitalization stands at approximately $280.2 million, indicating its size and significance within the biopharmaceutical sector. Despite its ambitious projects, Xeris is currently facing challenges with profitability.
The adjusted P/E ratio for the last twelve months as of Q4 2023 is -4.29, reflecting the company's negative earnings during this period. Additionally, the company's revenue growth has been robust, with a 48.68% increase over the last twelve months as of Q4 2023, which is a positive sign for potential future earnings.
InvestingPro Tips highlight that Xeris is rapidly burning through cash and analysts have revised their earnings expectations downwards for the upcoming period. These factors, combined with the insight that analysts do not anticipate the company will be profitable this year, could influence investor sentiment. On a more positive note, Xeris has seen a significant return over the last week, with a price total return of 8.0%.
For those interested in delving deeper into Xeris' financials and future outlook, InvestingPro offers additional tips on the company's performance and projections. As of now, there are 5 more InvestingPro Tips available for Xeris, which can be accessed by visiting https://www.investing.com/pro/XERS. For readers looking to leverage these insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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