XERS - Xeris Biopharma: Q1 Earnings Reveal Path To Breakeven

• Xeris recently reported encouraging Q1 earnings. The company's commercial products are off to a strong start, including their recently launched product, Recorlev.
• Xeris reaffirmed its full-year net product revenue guidance to be in the range of $105M to $120M. Strongbridge synergies are expected to equal $50M by the end of this year.
• The company secured funding and refinanced their debt. Xeris projects their 2022 year-end cash balance to be around $90M to $110M. Xeris does not anticipate needing to raise additional capital.
• Given the company's exceptionally strong cash position as a result of cash on hand, revenue generated from the company's three commercial products cash flow is expected to be breakeven by year-end 2023.
• I see a path to breakeven. I discuss my plans for managing my XERS position during this period of elevated volatility.

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