Xeris Announces $84 Million Offering

Xeris Pharmaceuticals announced on 2/11/19 that it filed a registration statement with the Securities and Exchange Commission (the “SEC”) relating to a proposed public offering of 5,000,000 shares of its common stock. All shares of common stock will be offered by Xeris.  Xeris expects to grant the underwriters a 30-day option to purchase up to an additional 750,000 of the shares of common stock. Xeris intends to use the net proceeds from this offering to support the expected commercial launch of Gvoke HypoPen, to advance its other pipeline product candidates, and to use for working capital and other general corporate purposes.  The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Xeris is developing a range of products to treat hypoglycemia, in addition to products to treat repetitive seizures. The company's Glucagon Pen is currently under FDA review with an expected PDUFA date of 6/10/19.

In March of 2018, the company raised $55 Million to support development of the ready-to-use glucagon rescue pen. The financing was composed of a $45 million term loan and a $10 million series C equity round.