XERS - Xeris stock falls after missing Q1 revenue estimates

Xeris Pharma (NASDAQ:XERS -8.1%) stock fell after the company posted lower-than-expected Q1 net product revenue. Net Product Revenue rose 172% Y/Y to $21.91M, but missed analysts estimates by $1.48M. Net Loss for the first quarter was $33.7 million, or $0.25 per share (in-line with estimates), compared to a net loss of $18.4 million, or $0.30 per share, a year earlier. Cost of goods sold increased 244% Y/Y to $4.4M. Selling, general and administrative expenses rose 88% Y/Y to $16.8M, due to commercial-related costs and $2.3 million of the increase related to the acquisition of Strongbridge. Gvoke, the company's glucagon therapy to treat low blood sugar, grew 88% Y/Y. First quarter prescriptions topped 30,000 for the first time, the company said. Xeris also launched Gvoke Kit, ready-to-use liquid glucagon in a single dose vial and syringe kit for rescue. The number of patients on Keveyis increased 12% Y/Y. The company affirmed 2022 guidance

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Xeris stock falls after missing Q1 revenue estimates