Shares ofXeris Biophamra XERS are up 3.94% after the company announced entering into a research collaboration and option agreement with Horizon Therapeutics HZNP to develop the latter’s candidate, teprotumumab.
Horizon’s teprotumumab, marketed under the name Tepezza, was approved by the FDA in January 2020 for treating thyroid eye disease (TED). Tepezza is the first and only approved medicine for TED.
TED is a serious, progressive and vision-threatening rare autoimmune disease associated with proptosis (eye bulging), diplopia (double vision), blurred vision, pain, inflammation and facial disfigurement.
Pursuant to the agreement, Xeris will use XeriJect, its proprietary formulation technology platform to develop an ultra-concentrated, ready-to-use subcutaneous injection of teprotumumab. Horizon will have the option to license the Xeris technology.
Xeris will also receive an upfront payment from Horizon and will be entitled to receive development, regulatory and sales-based milestones and royalties based on future sales if the commercial license option is exercised. The financial terms of the agreement have not yet been disclosed.
Shares of Xeris Biopharma are down 48.5% in the past two year period compared with the industry’s decline of 19.1%.
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Xeris is a biopharma company focused on developing and commercializing products across various therapies.
We remind investors that the company presently has three commercial products in its portfolio, namely, Gvoke, a ready-to-use liquid glucagon for the treatment of severe hypoglycemia, Keveyis, the first and only FDA-approved therapy for primary periodic paralysis ("PPP") and Recorlev, approved by the FDA in December 2021 for treating endogenous hypercortisolemia in adults with Cushing’s Syndrome.
Xeris Biopharma Holdings, Inc. Price
Xeris Biopharma Holdings, Inc. price | Xeris Biopharma Holdings, Inc. Quote
Zack Rank and Key Stocks
Xeris Pharmaceuticals currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the same sector include Assertio ASRT and Esperion Therapeutics ESPR, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Assertio earnings per share estimates for 2022 have improved by a cent to 52 cents in the past 30 days. The same for 2023 has improved from 33 cents to 44 cents in the same time frame.
Earnings of Assertio beat estimates in three of the trailing four quarters, while beating the same in the reaming occasion. The average earnings surprise for ASRT is 54.96%.
Esperion’s loss per share estimates for 2022 have narrowed from $3.82 to $3.66 in the past 30 days. The loss per share for 2023 has narrowed from $1.89 to $1.67 in the same time frame.
Earnings of Esperion beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion. The average earnings surprise for ESPR is 7.30%
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