Xeris Biopharma

What Xeris Biopharma does

Xeris Biopharma Holdings, Inc. is a Chicago-based, NASDAQ-listed (XERS) specialty biopharmaceutical company that develops and commercializes injectable therapies in endocrinology, neurology, and gastroenterology. Its portfolio is anchored by three FDA-approved products: Gvoke HypoPen (a premixed, ready-to-use glucagon autoinjector for severe hypoglycemia), Recorlev (levoketoconazole for endogenous Cushing's syndrome), and Keveyis (dichlorphenamide, the first FDA-approved treatment for primary periodic paralysis). Gvoke VialDx, partnered with American Regent, extends the glucagon franchise into diagnostic radiology. All commercial products are enabled by two proprietary non-aqueous formulation platforms — XeriSol, which produces room-temperature-stable small-molecule and peptide solutions, and XeriJect, which produces ultra-concentrated (>450 mg/mL) non-settling suspensions of biologics — that eliminate reconstitution and cold-chain handling.

The company operates a specialty pharmaceutical business model: products are prescription-only, priced via negotiated rates with payers/PBMs, and distributed through specialty pharmacy networks and hospital/institutional channels. Xeris engages healthcare professionals via a dedicated field sales force, medical affairs programs, and patient support (XerisCareConnection), targeting endocrinologists, primary care physicians, and hospitals. Revenue grew from $203M in 2024 to $292M in 2025 (+43.7% YoY), with Recorlev as the primary growth engine at approximately 95% YoY; the company reached full-year profitability in 2025 at 86% gross margin and guided FY2026 to $375–390M. The pipeline is led by XP-8121, a Phase 3-ready once-weekly subcutaneous levothyroxine for hypothyroidism, supported by patent estates extending protection on commercial assets through 2039–2040 and orphan exclusivity for Recorlev through December 2028.

Name

Xeris Biopharma

Legal name

Xeris Pharmaceuticals, Inc.

Website

https://xerispharma.com

Company type

Public

Founded year

2005

Operating status

Operating

Headcount range

251–500 employees

Short description

Xeris Biopharma is a Chicago-based, NASDAQ-listed specialty biopharmaceutical company that develops and commercializes proprietary ready-to-use injectable therapies in endocrinology and rare diseases, anchored by Gvoke, Recorlev, and Keveyis, leveraging its XeriSol and XeriJect non-aqueous formulation platforms.

Ownership category

akta.pro rank

Product category

Specialty Pharmaceuticals

NAICS

Biological Product (except Diagnostic) Manufacturing (325414)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Endocrinology & Reproductive Health Pharmaceuticals (incl. Women’s Health) (HLAIAAAJ)

akta.pro secondary industry

Glucagon Rescue Delivery Devices (Auto-Injectors, Nasal) (HLAHAHAK)

Keywords

• Specialty pharmaceuticals
• Injectable drug formulations
• Endocrinology therapies
• Rare disease treatments
• Ready-to-use injectables

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Product Sales - Recorlev: Recorlev (levoketoconazole) for treatment of endogenous hypercortisolemia in Cushing's syndrome. Net revenue of $139 million in 2025, $49.8 million in Q1 2026, growing approximately 95% year-over-year. Primary revenue driver with peak sales target of $1 billion by 2035.
2. Product Sales - Gvoke: Gvoke (glucagon injection) for severe hypoglycemia in diabetes patients. First FDA-approved premixed ready-to-use glucagon in autoinjector form. Revenue remained relatively flat due to Medicare coverage challenges.
3. Product Sales - Keveyis: Keveyis (dichlorphenamide) for primary periodic paralysis. First FDA-approved treatment for this rare disease. Revenue grew approximately 4% year-over-year.
4. Gvoke VialDx Partnership: Partnership with American Regent for Gvoke VialDx (glucagon injection) for gastrointestinal motility inhibition during radiologic examinations.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Xeris Biopharma develops, manufactures, and commercializes ready-to-use injectable specialty pharmaceutical products for patients with endocrinology, neurology, and gastroenterology conditions. Its commercial portfolio centers on Gvoke HypoPen (premixed glucagon for severe hypoglycemia), Recorlev (levoketoconazole for endogenous Cushing's syndrome), Keveyis (dichlorphenamide for primary periodic paralysis), and Gvoke VialDx (glucagon for GI diagnostic procedures), built on the proprietary XeriSol and XeriJect non-aqueous formulation platforms.

Product overview

Xeris Biopharma is a growth-oriented biopharmaceutical company with three FDA-approved commercial products and a pipeline of development programs. The core portfolio consists of Gvoke HypoPen (ready-to-use glucagon for severe hypoglycemia), Recorlev (cortisol synthesis inhibitor for Cushing's syndrome), and Keveyis (treatment for primary periodic paralysis). The company also commercializes Gvoke VialDx for gastrointestinal diagnostic procedures. The pipeline is led by XP-8121, a Phase 3-ready once-weekly subcutaneous levothyroxine for hypothyroidism. Xeris leverages two proprietary technology platforms—XeriSol for small molecules/peptides and XeriJect for biologics—to develop ready-to-use, room-temperature stable injectable formulations.

Differentiator

Problem solved

Functional benefit

Brands

• Gvoke: Ready-to-use liquid glucagon injection for severe hypoglycemia in adults and pediatric patients age 2 years and older with diabetes. Includes Gvoke HypoPen (autoinjector) and Gvoke VialDx (diagnostic aid).
• Recorlev
• Keveyis
• XeriSol
• XeriJect
• Xeris CareConnection

Products and services

• Gvoke HypoPen Premixed, ready-to-use glucagon autoinjector for the treatment of severe hypoglycemia in adult and pediatric patients aged 2 years and older with diabetes; available in pediatric (0.5mg/0.1mL) and adult (1.0mg/0.2mL) doses.
• Recorlev Oral cortisol synthesis inhibitor (levoketoconazole) for the treatment of endogenous hypercortisolemia in adult patients with Cushing's syndrome for whom surgery is not an option or has not been curative.
• Keveyis Oral carbonic anhydrase inhibitor (dichlorphenamide) and the first FDA-approved treatment for primary periodic paralysis, including primary hyperkalemic periodic paralysis, primary hypokalemic periodic paralysis, and related variants.
• Gvoke VialDx Ready-to-use glucagon injection for intravenous use as a diagnostic aid during radiologic examinations, temporarily inhibiting movement of the gastrointestinal tract in adult patients; partnered with American Regent for U.S. commercialization.
• XP-8121 Once-weekly subcutaneous levothyroxine injection in development for the treatment of hypothyroidism; Phase 3-ready; supported by a USPTO Notice of Allowance on its patent application.

Quantifiable outcome

• Revenue growth of 43.7% to $292 million in 2025
• +3 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core and minor.

• American RegentcoreStrategic or Co-development Partner · 9 January 2026Partnership for U.S. launch of Gvoke VialDx (glucagon injection) as a gastrointestinal motility inhibitor for radiologic examinations. FDA approved product with partnered commercialization.
• ReAlta Life SciencesminorOthers · 6 November 2025Jonathan Rigby, appointed to ReAlta Life Sciences board, is a biotech veteran with experience leading acquisitions including approximately $350 million acquisition of Trevyent by United Therapeutics. Connection through Xeris executive network.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Regional players

• Ferring Pharmaceuticals: Private, Switzerland-headquartered specialty pharma with strengths in reproductive endocrinology, gastroenterology, and rare diseases. Comparable therapeutic-area mix, though primarily operating outside the US where Xeris is concentrated.

Direct peers

• ANI Pharmaceuticals: Specialty pharmaceutical company focused on niche and rare-disease therapeutics, often acquired via corporate carve-outs. Comparable commercial model (rare-disease, specialty sales force) and recent growth-via-acquisition playbook.
• Zealand Pharma: Peptide therapeutics company with a glucagon franchise (e.g., dasiglucagon) for hypoglycemia and a pipeline of peptide-based endocrine therapies, directly comparable to Xeris on peptide injectable technology and endocrinology focus.
• MannKind Corporation: Specialty pharma built around novel drug-delivery technology platforms (Technosphere for inhaled products such as Afrezza, and endocrine focus via insulin/glucagon programs). Closely analogous model of platform-enabled injectable/endocrinology drug delivery.
• Corcept Therapeutics: Specialty pharma focused on cortisol modulation and the leading developer of a competing Cushing's syndrome therapy (Relacorilant, currently subject to an FDA Complete Response Letter). Direct overlap in endocrine/rare-disease go-to-market and prescriber base.

Broad incumbents

• Endo International: Diversified specialty pharmaceutical company with established specialty injectable and endocrine product portfolios. Comparable broader portfolio of injectable specialty drugs even though much larger in scale.
• Amphastar Pharmaceuticals: Established specialty injectable pharmaceutical manufacturer with a portfolio of hard-to-formulate injectable products including glucagon and other complex generics. Comparable on injectables formulation expertise and endocrinology exposure.
• Supernus Pharmaceuticals: Mid-sized specialty pharma with central nervous system and endocrine-related commercial assets, scaled via product acquisitions. Comparable in size, specialty pharma channels, and growth orientation.
• Madrigal Pharmaceuticals: Endocrinology-focused specialty pharma (metabolic liver disease with resmetirom). Similar therapeutic-area profile in endocrinology and a comparable size and capitalization tier.

Others

• Hovione: Specialty contract drug development and manufacturing organization with strong capabilities in particle engineering and complex injectable formulations. Relevant as a potential partner/competitor in formulation technology rather than as a commercial endocrinology competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/xerispharma
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• Facebookfacebook.com/xerispharmaceuticals

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries2 records

Funding overview

Funding rounds15 records

Investors15 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Xeris Biopharma