Two 59%+ winners, four above 25% in Aug – How this AI model keeps picking winners
CHICAGO - Xeris Biopharma Holdings, Inc. (NASDAQ: XERS), a biopharmaceutical company focused on developing innovative therapies with a market capitalization of $559.8 million and impressive revenue growth of 22.7% over the last twelve months, announced the appointment of Dr. Anh Nguyen as its new Chief Medical (TASE:BLWV) Officer (CMO). Dr. Nguyen will succeed Ken Johnson, PharmD, who is set to retire on April 1, 2025.According to InvestingPro analysis, Xeris has demonstrated strong momentum with a 30.2% price return over the past six months, suggesting growing investor confidence in the company’s direction.
Dr. Nguyen, rejoining Xeris, will oversee the company’s Medical, Regulatory, Preclinical and Clinical Development, and Pharmacovigilance functions. He will report directly to John Shannon, the CEO of Xeris. His role includes shaping the strategic direction for the company’s entire product portfolio, which has helped drive the company’s robust gross profit margin of 81.4%.
With a rich background in clinical and leadership roles, Dr. Nguyen has led the development of several first-in-class therapies. His previous positions include Vice President and Therapeutic Sector Lead at Asklepios Biopharmaceutical, where he managed the IND clearance and early-phase clinical trials for neuromuscular rare disease gene therapies. Additionally, Dr. Nguyen has contributed to shaping clinical and regulatory policies at the NIH, FDA, and CMS. His experience at Xeris includes serving as the program medical lead for Gvoke® approvals and multiple IND clearances.
CEO John Shannon expressed confidence in Dr. Nguyen’s ability to drive growth, especially as Xeris prepares for Phase 3 development of XP-8121 and the advancement of its commercial portfolio, including Recorlev®, a treatment for endogenous Cushing’s syndrome.
Ken Johnson, the outgoing SVP, has been credited with actively participating in the search for his successor and will assist with the transition. Johnson expressed pride in the company’s evolution and his confidence in Dr. Nguyen’s capabilities to lead Xeris to further success.
Xeris is known for its three commercially available products and a pipeline of development programs, including XP-8121, a Phase 3-ready treatment for hypothyroidism. The company utilizes its proprietary technology platforms, XeriSol® and XeriJect®, to develop therapies for a variety of conditions.
This leadership transition is part of Xeris’ ongoing commitment to innovation and patient care. The company’s potential is reflected in recent analyst activity, with two analysts revising their earnings expectations upward for the upcoming period. For deeper insights into Xeris’ financial health and growth prospects, including exclusive analysis and additional ProTips, visit InvestingPro. The information in this article is based on a press release statement from Xeris Biopharma Holdings, Inc. and InvestingPro data.
In other recent news, Xeris Biopharma Holdings, Inc. announced that its total revenue for 2024 is projected to reach $203 million, surpassing its previous forecast of $198 million to $202 million. The company anticipates ending the year with over $71 million in cash, cash equivalents, and short-term investments, bolstered by positive cash flow in the fourth quarter. A significant revenue boost came from Recorlev®, a treatment for endogenous Cushing’s syndrome, which saw a 28% sequential increase in net revenue during the fourth quarter. Gvoke®, a treatment for severe hypoglycemia, captured approximately 35% of the market share by the end of the year. Xeris also received a $3 million milestone payment from Beta Bionics, Inc. for a unique glucagon formulation. In contrast, Amgen (NASDAQ:AMGN) decided to terminate its exclusive worldwide license agreement with Xeris, although this is not expected to impact Xeris’s financial outlook materially. CEO John Shannon expressed optimism about the company’s growth, highlighting the demand for Recorlev and Gvoke and the promising Phase 3 ready XP-8121 program for hypothyroidism. The official financial results for 2024 and the 2025 outlook are set to be released on March 6, 2025.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.