Xeris reports second-quarter 2026 results, tightens full-year revenue guidance

Xeris Biopharma Holdings reported financial results for the quarter ended June 30, 2026, on August 6, 2026. Chairman and CEO John Shannon said the company is tightening its full-year guidance to $385 million to $390 million, citing confidence in its team, portfolio, and business trajectory.¹

On the pipeline side, the USPTO granted Xeris U.S. Patent No. 12,691,089, titled "Stable Levothyroxine Compositions in Aprotic Polar Solvents," on July 28, 2026.¹ This marks the second patent issued for XP-8121, the company's investigational drug candidate for hypothyroidism.¹ Separately, on June 11, 2026, Xeris said the USPTO issued a Notice of Allowance for U.S. Patent Application No. 17/151,405, "Compositions and Methods of Use," covering the company's Keveyis (dichlorphenamide) product, which once granted is expected to extend intellectual property protection through at least 2039.¹

Xeris also announced a September 9, 2026 webinar in which senior management will review the Phase 3 development program for XP-8121, described as an investigational once-weekly subcutaneous levothyroxine treatment for hypothyroidism.¹

On financing, Xeris entered privately negotiated exchange agreements on June 11, 2026, with holders of its 8.00% Convertible Senior Notes due 2028, eliminating about $23.0 million of debt through cash and roughly 5.0 million shares, while the remaining $10.5 million holder converted into about 3.6 million shares in July 2026, leaving no 2028 notes outstanding.¹

Turning to quarterly figures, net product revenue for the second quarter was $91.0 million, up 34% from $67.7 million a year earlier, with Recorlev revenue rising 81% to $56.8 million.¹ Cash and cash equivalents totaled $121.7 million as of June 30, 2026, compared with $111.0 million at December 31, 2025.¹ Net loss for the quarter was $31.1 million, reflecting a one-time, non-cash charge of about $31 million tied to the convertible notes exchange.¹