XERS - Xeris Biopharma stock rises on 2022 outlook update

• Xeris Biopharma ( NASDAQ: XERS ) shares gained ~4% premarket on Thursday after the biopharmaceutical company updated its outlook for full year 2022 .
• The firm expects to end 2022 with over $120M in cash, cash equivalents, and short-term investments and at the top of its net product revenue guidance of $105M-$110M.
  • Consensus revenue estimate for the year is $108.04M.
  • Xeris Chairman and CEO Paul Edick said: "Our momentum continued through the fourth quarter with strong patient demand for both Recorlev and Keveyis and better than expected prescription growth for Gvoke giving us confidence that we will end 2022 at the top of our net product revenue guidance of $105M to $110M."
• "Building off our commercial product momentum in 2022 coupled with our very solid financial position, we do not anticipate the need to raise equity to fund our operations," Edick concluded.

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