CONCORD, MA - Xeris Biopharma Holdings, Inc. (NASDAQ:XERS), a biopharmaceutical company, announced today its partnership with Beta Bionics, Inc. for the development and commercialization of a novel glucagon formulation using Xeris' proprietary XeriSol™ technology. This collaboration aims to integrate the glucagon product into Beta Bionics' bi-hormonal pump systems designed for diabetes management.
The agreement grants Beta Bionics exclusive worldwide rights to the glucagon product developed by Xeris for use in its pump systems. Xeris stands to receive development milestone payments and royalties from future sales. The financial terms of the deal, however, were not disclosed.
Paul R. Edick, Chairman and CEO of Xeris, expressed enthusiasm about the partnership, emphasizing the potential impact of the dual-hormone pump on diabetes care. Sean Saint, CEO of Beta Bionics, likened the importance of glucagon in the pump system to the role of brakes in a car, highlighting the anticipated advantages of the bi-hormonal approach.
Xeris, headquartered in Chicago, IL, currently markets three products and has a pipeline of development programs. Its technology platforms, XeriSol™ and XeriJect®, are central to the company's long-term strategy for new product development and commercial success.
The forward-looking statements in the press release outline the potential of the glucagon product and the expected benefits of the partnership. These statements also acknowledge the risks and uncertainties inherent in drug development and commercialization.
The collaboration between Xeris and Beta Bionics is based on a press release statement and is subject to various factors that could influence the outcome of the development and commercialization process, including financial, operational, and competitive challenges. The companies have not provided further details on the timeline for the development or potential market release of the glucagon product for the bi-hormonal pump systems.
InvestingPro Insights
Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) has recently made headlines with its strategic partnership with Beta Bionics, Inc., which could be a game-changer in the diabetes management market. The InvestingPro data highlights several key financial metrics that investors may find crucial when evaluating the company's current market position and future prospects.
The company's market capitalization stands at $280.2 million, reflecting investor valuation of the firm. Despite significant revenue growth over the last twelve months of 48.68%, the company's profitability remains a challenge. The P/E ratio, which is a measure of a company's current share price relative to its per-share earnings, is negative at -4.29, indicating that the company has not been profitable in the recent period covered. This aligns with an InvestingPro Tip that points out the company's struggle with profitability, as analysts do not expect Xeris to be profitable this year.
On a brighter note, the company has seen a significant return over the last week, with a price total return of 8.0%. This could be reflective of positive investor sentiment following the announcement of the partnership with Beta Bionics. However, it's important to note that two analysts have revised their earnings downwards for the upcoming period, which is another InvestingPro Tip that potential investors should consider.
For those interested in a deeper dive into Xeris' financials and future outlook, InvestingPro offers additional insights and tips. There are currently more tips available that provide a comprehensive analysis of Xeris' financial health and projections. By using the coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking even more valuable insights to inform their investment decisions.
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