Xeris Biopharma Holdings, Inc.
XERS evidence brief
What we can confirm
- BioSniper Score:
- 4.0 / 10
- Market Cap:
- $1.55B
- Lead Asset:
- Gvoke (Approved)
What it means
What to watch
Prepared research question
What matters most for XERS—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · XERS
Xeris Biopharma Holdings, Inc. (XERS) is a commercial-stage biopharmaceutical company focused on developing and commercializing therapies for chronic endocrine and neurological diseases, with three marketed products and a Phase 3-ready pipeline candidate.
Key risk: Negative equity
BioSniper Score
Based on 5 of 6 signals
Financial data as of Jun 30, 2026.
Tracking 3 pipeline candidates · 1 clinical trial · 1 catalyst for Xeris Biopharma Holdings, Inc..
Xeris Biopharma Holdings, Inc. (XERS) is a commercial-stage biopharmaceutical company focused on developing and commercializing therapies for chronic endocrine and neurological diseases, with three marketed products and a Phase 3-ready pipeline candidate.
- Cash & equivalents of $121.7M as of 2026-06-30 [sec]
- Total revenue of $92.1M and net loss of -$31.1M as of 2026-06-30 [sec]
- Shareholders' equity of -$9.7M and total debt of $233.6M as of 2026-06-30 [sec]
- Recorlev net revenue grew ~117% year-over-year to $139.3M in 2025 [sec · filed 2026-04-23]
- XP-8121 Phase 3 registrational study initiation on track by year-end 2026; topline results expected in late 2028; FDA approval and launch anticipated in 2030 [news · published 2026-09-09]
What works
- Recorlev net revenue increased approximately 117% in 2025 compared to 2024, driven by increased patient demand [sec · filed 2026-04-23]
- The company remained adjusted EBITDA positive in every quarter of 2025 [sec · filed 2026-04-23]
- XP-8121 is Phase 3-ready with a registrational study design (Cornerstone) and a projected peak net revenue potential of $1 to $3 billion [news · published 2026-09-09]
- All 2028 Convertible Notes have been fully retired as of June 30, 2026 [sec_mda · as of 2026-08-06]
What to weigh
- Net loss widened to $31.1M in Q2 2026, and the company tightened full-year 2026 total revenue guidance to $385M–$390M [news · published 2026-08-15]
- Shareholders' equity is negative at -$9.7M as of 2026-06-30 [sec]
- Accumulated deficit of $700.2M as of June 30, 2026 [sec_mda · as of 2026-08-06]
- Keveyis net revenue decreased approximately 4% in 2025 compared to 2024 due to unfavorable net pricing [sec · filed 2026-04-23]
From the filings
Quoted directly from source documents.
Recorlev revenue growth
“Recorlev ® net revenue was $139.3 million - an increase of approximately 117% compared to the year ended December 31, 2024”
SEC filings · April 23, 2026
XP-8121 Phase 3 timeline
“Initiation of Phase 3 registrational study on track by year-end; topline results expected in late 2028; U.S. FDA approval and launch anticipated in 2030”
News · September 9, 2026
Accumulated deficit
“We have an accumulated deficit of $700.2 million at June 30, 2026”
SEC MD&A · August 6, 2026
Catalyst timeline
- 2040-03-02 · Patent_Expiry · LEVOKETOCONAZOLE — Patent_Expiry: NDA214133 — Patent expiry for levoketoconazole; may affect future competitive landscape for Recorlev.
Risks & what to watch (4)›
Key risks
- Negative equity — Shareholders' equity is -$9.7M as of 2026-06-30, indicating liabilities exceed assets [sec]
- High debt burden — Total debt of $233.6M as of 2026-06-30, more than double cash on hand [sec]
- Continued net losses — Net loss of $31.1M in Q2 2026; company expects net losses for at least the next twelve months [sec_mda · as of 2026-08-06]
- Pipeline dependency — XP-8121 is the sole late-stage pipeline candidate; any clinical or regulatory setback would materially impact future growth [news · published 2026-09-09]
What to watch
- Initiation of XP-8121 Phase 3 registrational study by year-end 2026 [news · published 2026-09-09]
- Topline results for XP-8121 expected in late 2028 [news · published 2026-09-09]
- Full-year 2026 total revenue guidance of $385M–$390M and whether the company can sustain adjusted EBITDA positivity [news · published 2026-08-15]
- Cash runway: management believes cash resources are sufficient for at least the next twelve months as of June 30, 2026 [sec_mda · as of 2026-08-06]
Sources: News · SEC filings · SEC MD&A · Generated October 12, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 5 of 6 signals · derived from public data
Cash runway data unavailable
Net income -$31M
Lead: Approved
3 candidates
1 upcoming, next in ~4888d
0 buys · 13 sells (180d)
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
236
Total value held
$599.5M
| Holder | Shares | Value |
|---|---|---|
| blackrock, inc. | 12,945,785 | $75.1M |
| d. e. shaw & co., inc. | 7,788,811 | $45.2M |
| vanguard capital management llc | 6,980,882 | $40.5M |
| state street corp | 4,658,174 | $27.0M |
| geode capital management, llc | 4,290,629 | $24.9M |
| qube research & technologies ltd | 4,114,425 | $23.9M |
| rosalind advisors, inc. | 3,231,700 | $18.7M |
| nuveen, llc | 2,916,598 | $16.9M |
| vanguard portfolio management llc | 2,665,608 | $15.5M |
| morgan stanley | 2,572,654 | $14.9M |
Showing top 10 of 236 institutional holders of Xeris Biopharma Holdings, Inc.. Open the full 13F history after sign-in.
Short Interest
as of May 22, 2026- % of float
- 9.5%
- Days to cover
- 11.1
- Shares short
- 15,894,656
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
XERS short interestGovernance
Frequently asked questions
What is the AI investment thesis for Xeris Biopharma Holdings, Inc.?
Xeris Biopharma Holdings, Inc. (XERS) is a commercial-stage biopharmaceutical company focused on developing and commercializing therapies for chronic endocrine and neurological diseases, with three marketed products and a Phase 3-ready pipeline candidate.
What is Xeris Biopharma Holdings, Inc.'s lead drug candidate?
Xeris Biopharma Holdings, Inc.'s most advanced tracked candidate is Gvoke (Approved) for Treatment of severe hypoglycemia; indicated for use in pediatric and adult patients with diabetes age two years and above.
What is Xeris Biopharma Holdings, Inc.'s next catalyst?
Xeris Biopharma Holdings, Inc.'s next tracked catalyst is a Patent_Expiry event — "Patent_Expiry: NDA214133" — expected March 2, 2040.
Who is the CEO of Xeris Biopharma Holdings, Inc.?
Mr. John P. Shannon is the chief executive officer of Xeris Biopharma Holdings, Inc. (XERS).
Where is Xeris Biopharma Holdings, Inc. headquartered?
Xeris Biopharma Holdings, Inc. (XERS) is headquartered in Chicago, IL, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.