XERS on Nasdaq
Xeris Biopharma Holdings, Inc.
Xeris Biopharma Holdings, Inc. along with its subsidiaries, is referenced herein as the "Company", "Xeris", "Xeris Biopharma", "we" or "our".3 From its latest annual report
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Last updated Oct 19, 2026.
Overview
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- TickerXERS on Nasdaq1
- IndustryPharmaceutical Preparations1
- HeadquartersChicago, Illinois1
- Business address1375 West Fulton Street, Suite 1300, Chicago, Il 606072
- Filer categoryLarge accelerated filer2
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Xeris Biopharma Holdings, Inc. along with its subsidiaries, is referenced herein as the "Company", "Xeris", "Xeris Biopharma", "we" or "our". Throughout this document, unless otherwise noted, references to Gvoke include Gvoke PFS, Gvoke HypoPen, and Gvoke Kit.3 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
8.5%Operating margin4
0.2%Net margin4
43.7%Revenue growth, 20254
4.0%Return on equity4
16.10×Debt to equity4
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Recorlev brought in 48% of the revenue Xeris Biopharma Holdings, Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Recorlev | $29.5M | $64.3M | $139.3M |
| Gvoke | $67.0M | $82.8M | $94.1M |
| Keveyis | $56.8M | $49.5M | $47.6M |
| Royalty, Contract And Other Revenue | $10.6M | $6.4M | $8.8M |
| Product - Other | $0 | $0 | $2.0M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Research and development11¢$31.2M
- Selling, general and admin62¢$182.4M
- Other costs27¢$77.8M
- Profit0¢$554.0K
Out of $291.8M in revenue.4
Where each dollar of operating cash went, fiscal 2025
- Kept or used elsewhere100¢$28.6M
Out of $28.6M of cash from operations.4
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Product revenue, net | $291.8M | $203.1M | $163.9M |
| Cost of goods sold | $42.6M | $36.8M | $28.6M |
| Research and development | $31.2M | $25.6M | $22.3M |
| Selling, general and administrative | $182.4M | $163.5M | $146.1M |
| Amortization of intangible assets | $10.8M | $10.8M | $10.8M |
| Total costs and expenses | $266.9M | $236.7M | $207.9M |
| Income (loss) from operations | $24.9M | -$33.6M | -$44.0M |
| Interest and other income | $4.7M | $5.3M | $4.8M |
| Loss on debt extinguishment, net | $0 | $0 | -$2.8M |
| Debt refinancing costs | $0 | -$2.7M | $0 |
| Interest expense | -$29.1M | -$30.5M | -$26.6M |
| Change in fair value of warrants | $0 | $8.0K | $1.0K |
| Change in fair value of contingent value rights | $0 | $4.4M | $5.2M |
| Total other expense | -$24.3M | -$23.5M | -$19.5M |
| Net income (loss) before income taxes | $554.0K | -$57.1M | -$63.5M |
| Income tax benefit | $0 | $2.3M | $1.2M |
| Net income (loss) | $554.0K | -$54.8M | -$62.3M |
| Unrealized gains (losses) on investments | $0 | $0 | -$2.0K |
| Comprehensive income (loss) | $554.0K | -$54.8M | -$62.3M |
| Net loss per common share - basic (in dollars per share) | $0.00 | -$0.37 | -$0.45 |
| Net loss per common share - Diluted (in dollars per share) | $0.00 | -$0.37 | -$0.45 |
| Weighted average common shares outstanding - basic (in shares) | 160.4M shares | 146.8M shares | 137.7M shares |
| Weighted average common shares outstanding - Diluted (in shares) | 172.7M shares | 146.8M shares | 137.7M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Trade accounts receivable, net | $51.0M | $40.4M | ||
| Inventory, net | $68.7M | $48.2M | ||
| Prepaid expenses and other current assets | $9.5M | $7.5M | ||
| Total current assets | $240.3M | $167.7M | ||
| Property and equipment, net | $4.9M | $5.6M | ||
| Operating lease right-of-use assets | $22.1M | $22.6M | ||
| Goodwill | $22.9M | $22.9M | ||
| Other assets | $88.1M | $98.9M | ||
| Other assets | $5.2M | $5.4M | ||
| Total assets | $383.5M | $323.1M | ||
| Accounts payable | $3.1M | $2.3M | ||
| Current portion of long-term debt | $0 | $15.1M | ||
| Current operating lease liabilities | $6.2M | $6.1M | ||
| Other accrued liabilities | $33.2M | $27.7M | ||
| Accrued trade discounts and rebates | $43.3M | $29.1M | ||
| Accrued returns reserve | $19.0M | $19.1M | ||
| Other current liabilities | $4.9M | $1.1M | ||
| Total current liabilities | $109.6M | $100.4M | ||
| Debt, net of unamortized debt issuance costs, non-current portion | $220.3M | $217.0M | ||
| Non-current operating lease liabilities | $31.5M | $33.3M | ||
| Other liabilities | $8.4M | $2.0M | ||
| Total liabilities | $369.8M | $352.7M | ||
| Preferred stockpar value $0.0001, 25,000,000 shares and 25,000,000 shares authorized and no shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | $0 | $0 | ||
| Common stockpar value $0.0001, 350,000,000 shares and 350,000,000 shares authorized as of December 31, 2025 and December 31, 2024, respectively; 166,215,410 and 149,429,410 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | $17.0K | $15.0K | ||
| Additional paid in capital | $685.0M | $642.3M | ||
| Accumulated deficit | -$671.3M | -$671.9M | ||
| Accumulated other comprehensive loss | -$25.0K | -$25.0K | ||
| Total stockholders' equity (deficit) | $13.7M | -$29.6M | -$6.8M | $45.2M |
| Total liabilities and stockholders' equity (deficit) | $383.5M | $323.1M | ||
| Cash and cash equivalents | $111.0M | $71.6M | $67.4M | |
| Preferred stock par value (in dollars per share) | $0.00 | $0.00 | ||
| Preferred stock shares authorized (in shares) | 25.0M shares | 25.0M shares | ||
| Preferred stock shares outstanding (in shares) | 0 shares | 0 shares | ||
| Preferred stock shares issued (in shares) | 0 shares | |||
| Common stock par value (in dollars per share) | $0.00 | $0.00 | ||
| Common stock shares authorized (in shares) | 350.0M shares | 350.0M shares | ||
| Common stock shares issues (in shares) | 166.2M shares | 149.4M shares | ||
| Common stock shares outstanding (in shares) | 166.2M shares | 149.4M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Trade accounts receivable, net | $51.0M | $40.4M | ||
| Inventory, net | $68.7M | $48.2M | ||
| Prepaid expenses and other current assets | $9.5M | $7.5M | ||
| Total current assets | $240.3M | $167.7M | ||
| Property and equipment, net | $4.9M | $5.6M | ||
| Operating lease right-of-use assets | $22.1M | $22.6M | ||
| Goodwill | $22.9M | $22.9M | ||
| Other assets | $88.1M | $98.9M | ||
| Other assets | $5.2M | $5.4M | ||
| Total assets | $383.5M | $323.1M | ||
| Accounts payable | $3.1M | $2.3M | ||
| Current portion of long-term debt | $0 | $15.1M | ||
| Current operating lease liabilities | $6.2M | $6.1M | ||
| Other accrued liabilities | $33.2M | $27.7M | ||
| Accrued trade discounts and rebates | $43.3M | $29.1M | ||
| Accrued returns reserve | $19.0M | $19.1M | ||
| Other current liabilities | $4.9M | $1.1M | ||
| Total current liabilities | $109.6M | $100.4M | ||
| Debt, net of unamortized debt issuance costs, non-current portion | $220.3M | $217.0M | ||
| Non-current operating lease liabilities | $31.5M | $33.3M | ||
| Other liabilities | $8.4M | $2.0M | ||
| Total liabilities | $369.8M | $352.7M | ||
| Preferred stockpar value $0.0001, 25,000,000 shares and 25,000,000 shares authorized and no shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | $0 | $0 | ||
| Common stockpar value $0.0001, 350,000,000 shares and 350,000,000 shares authorized as of December 31, 2025 and December 31, 2024, respectively; 166,215,410 and 149,429,410 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | $17.0K | $15.0K | ||
| Additional paid in capital | $685.0M | $642.3M | ||
| Accumulated deficit | -$671.3M | -$671.9M | ||
| Accumulated other comprehensive loss | -$25.0K | -$25.0K | ||
| Total stockholders' equity (deficit) | $13.7M | -$29.6M | -$6.8M | $45.2M |
| Total liabilities and stockholders' equity (deficit) | $383.5M | $323.1M | ||
| Cash and cash equivalents | $111.0M | $71.6M | $67.4M | |
| Preferred stock par value (in dollars per share) | $0.00 | $0.00 | ||
| Preferred stock shares authorized (in shares) | 25.0M shares | 25.0M shares | ||
| Preferred stock shares outstanding (in shares) | 0 shares | 0 shares | ||
| Preferred stock shares issued (in shares) | 0 shares | |||
| Common stock par value (in dollars per share) | $0.00 | $0.00 | ||
| Common stock shares authorized (in shares) | 350.0M shares | 350.0M shares | ||
| Common stock shares issues (in shares) | 166.2M shares | 149.4M shares | ||
| Common stock shares outstanding (in shares) | 166.2M shares | 149.4M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income (loss) | $554.0K | -$54.8M | -$62.3M |
| Depreciation | $1.3M | $1.2M | $1.5M |
| Amortization of intangible assets | $10.8M | $10.8M | $10.8M |
| Amortization of premium/discount on investments | $0 | -$747.0K | -$1.3M |
| Amortization of debt discount and debt issuance costs | $3.4M | $3.0M | $2.2M |
| Amortization of operating right-of-use assets | $537.0K | $555.0K | $830.0K |
| Deferred income tax expense (benefit) | $0 | -$2.3M | -$1.2M |
| Stock-based compensation | $22.4M | $18.4M | $10.7M |
| Loss on debt extinguishment, net | $0 | $0 | $2.8M |
| Change in fair value of contingent value rights | $0 | -$4.4M | -$5.2M |
| Other | $0 | $83.0K | $320.0K |
| Trade accounts receivable | -$10.6M | -$1.2M | -$8.4M |
| Prepaid expenses and other current assets | -$2.1M | -$1.7M | $3.2M |
| Inventory | -$19.3M | -$8.8M | -$14.8M |
| Accounts payable | -$69.0K | -$9.6M | $7.0M |
| Other accrued liabilities | $3.3M | $3.6M | -$5.9M |
| Accrued trade discounts and rebates | $16.4M | $3.9M | $5.3M |
| Accrued returns reserve | -$113.0K | $4.9M | $3.0M |
| Increase (Decrease) In Supply Agreement Liabilities | $0 | $0 | -$6.7M |
| Operating lease liabilities | -$1.6M | $1.1M | $7.5M |
| Other | $3.7M | -$1.1M | $3.4M |
| Net cash provided by (used in) operating activities | $28.6M | -$37.0M | -$47.0M |
| Capital expenditures | -$696.0K | -$868.0K | -$2.3M |
| Purchases of investments | $0 | -$34.5M | -$43.7M |
| Sales and maturities of investments | $0 | $40.2M | $40.0M |
| Net cash provided by (used in) investing activities | -$696.0K | $4.9M | -$6.0M |
| Proceeds from debt refinancing | $0 | $50.0M | $0 |
| Payment of debt discount | $0 | -$11.8M | $0 |
| Payments of debt issuance costs | $0 | $0 | -$1.2M |
| Proceeds from issuance of employee stock purchase plan shares | $1.5M | $1.2M | $549.0K |
| Proceeds from exercise of stock options | $11.6M | $489.0K | $32.0K |
| Proceeds from Issuance of Warrants | $9.2M | $0 | $0 |
| Repurchase of common stock withheld for taxes | -$10.9M | -$3.7M | -$1.0M |
| Net cash provided by (used in) financing activities | $11.4M | $36.2M | -$1.6M |
| Net cash provided by (used in) in cash, cash equivalents and restricted cash | $39.3M | $4.1M | -$54.6M |
| Cash paid for interest | $27.1M | $26.9M | $27.7M |
| Issuance of common shares in settlement of CVR liability | $0 | $15.8M | $0 |
| Issuance of convertible note | $0 | $0 | $33.6M |
| Issuance of common shares in partial settlement of 2025 Convertible Debt | $15.1M | $0 | $0 |
| Shares withheld for tax (in shares) | 2.7M shares | 1.6B shares | 815.2M shares |
No quarter-by-quarter statement was filed.
Leadership
Who has led Xeris Biopharma Holdings, Inc., and when. Pick a name to see everywhere that person has worked.
Chief financial officer
2025
- Chief financial officerSteven Pieper Oct 5, 2021 to Oct 5, 202111
Board members and other officers (15)
- OfficerKevin McCulloch Aug 2, 2024 to now12
- OfficerBeth Hecht Oct 5, 2021 to now13
- OfficerPaul R. Edick Oct 5, 2021 to Jan 31, 202414
- Chief Scientific OfficerSteven Prestrelski Oct 5, 2021 to Feb 1, 202315
- OfficerSteven Pieper Nov 12, 2021 to now16
- Board memberNerissa Kreher Jul 2, 2026 to now17
- Board memberJames Aloysius Brady Mar 28, 2025 to now18
- Board memberRicki Louise Fairley Mar 29, 2023 to Jun 5, 202419
- Board memberBarbara-Jean Anne Bormann-Kennedy Oct 5, 2021 to now20
- Board memberDawn Halkuff Oct 5, 2021 to now21
- Board memberGarheng Kong Oct 5, 2021 to now22
- Board memberJeffrey W. Sherman Oct 5, 2021 to now23
- Board memberJohn P. Schmid Oct 5, 2021 to Aug 13, 202424
- Board memberMarla Persky Oct 5, 2021 to now25
- Board memberPaul R. Edick Oct 5, 2021 to Jan 31, 202414
Filings
326 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 57 major events, 172 insider forms, 12 large holders, 65 other. The latest 20:
- Oct 14, 20268-K EDGAR
- Oct 2, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Oct 1, 2026144 EDGAR
- Sep 29, 20264 EDGAR
- Sep 28, 2026144 EDGAR
- Sep 9, 20268-K EDGAR
- Sep 1, 20264 EDGAR
- Sep 1, 20264 EDGAR
- Sep 1, 20264 EDGAR
- Aug 21, 20264 EDGAR
- Aug 21, 20264 EDGAR
- Aug 12, 2026144 EDGAR
- Aug 12, 20264 EDGAR
- Aug 6, 202610-Q EDGAR
- Aug 6, 20268-K EDGAR
- Aug 4, 20264 EDGAR
- Aug 4, 20264 EDGAR
- Jul 31, 2026SCHEDULE 13G EDGAR
The 326 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
54 open-market trades by officers, directors and large owners since October 2021: 19 buys and 35 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 28, 2026 | McCulloch KevinSee Remarks | Sale | 25,000 | $10.00 | $250.0K | Form 4 |
| Sep 1, 2026 | McCulloch KevinSee Remarks | Sale | 15,000 | $8.49 | $127.3K | Form 4 |
| Sep 1, 2026 | Pieper StevenSee Remarks | Sale | 5,000 | $8.50 | $42.5K | Form 4 |
| Sep 1, 2026 | Hecht BethSee Remarks | Sale | 16,666 | $8.49 | $141.5K | Form 4 |
| Aug 12, 2026 | Pieper StevenSee Remarks | Sale | 5,000 | $8.50 | $42.5K | Form 4 |
| Aug 3, 2026 | McCulloch KevinSee Remarks | Sale | 15,000 | $8.02 | $120.3K | Form 4 |
| Aug 3, 2026 | Hecht BethSee Remarks | Sale | 16,666 | $8.01 | $133.5K | Form 4 |
| Jul 7, 2026 | Pieper StevenSee Remarks | Sale | 27,600 | $8.52 | $235.2K | Form 4 |
| Jul 6, 2026 | Pieper StevenSee Remarks | Sale | 17,400 | $8.50 | $147.9K | Form 4 |
| Jul 1, 2026 | McCulloch KevinSee Remarks | Sale | 90,000 | $8.03 | $722.7K | Form 4 |
| Jul 1, 2026 | Hecht BethSee Remarks | Sale | 16,666 | $8.03 | $133.8K | Form 4 |
| Jun 4, 2026 | HALKUFF DAWNDirector | Sale | 20,000 | $6.09 | $121.8K | Form 4 |
| Jun 4, 2026 | BORMANN-KENNEDY BARBARA-JEAN ANNEDirector | Sale | 16,000 | $6.09 | $97.4K | Form 4 |
| Jun 4, 2026 | JOHNSON JOHNDirector | Sale | 15,000 | $6.09 | $91.3K | Form 4 |
| Jun 3, 2026 | PERSKY MARLADirector | Sale | 15,500 | $5.90 | $91.5K | Form 4 |
| Jun 1, 2026 | Hecht BethSee Remarks | Sale | 16,667 | $6.06 | $101.0K | Form 4 |
| May 1, 2026 | Hecht BethSee Remarks | Sale | 16,667 | $6.23 | $103.8K | Form 4 |
| Apr 1, 2026 | Hecht BethSee Remarks | Sale | 16,667 | $5.99 | $99.8K | Form 4 |
| Mar 30, 2026 | Brady James AloysiusDirector | Sale | 10,834 | $5.54 | $60.0K | Form 4 |
| Mar 2, 2026 | Hecht BethSee Remarks | Sale | 16,667 | $6.24 | $104.1K | Form 4 |
All 54 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- VANGUARD CAPITAL MANAGEMENT LLCSCHEDULE 13G, 1 filing Jul 31, 202626
- VANGUARD GROUP INCSCHEDULE 13G/A, 3 filings Feb 13, 2024 to Mar 27, 202627
- Stonepine Capital Management, LLCSC 13G/A, 3 filings Jan 14, 2022 to Feb 13, 202428
- CAXTON CORPSC 13G/A, 2 filings Jan 5, 2022 to Feb 14, 202329
- James E. FlynnSC 13G/A, 1 filing Feb 11, 202230
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 14,525,539 | $115.0M | 0.0% | +1,579,754 |
| D. E. Shaw & Co., Inc. | 7,804,758 | $61.8M | 0.0% | +15,947 |
| Vanguard Capital Management LLC | 7,340,229 | $58.1M | 0.0% | +359,347 |
| State Street Corp | 4,821,566 | $38.2M | 0.0% | +163,392 |
| Geode Capital Management, LLC | 4,718,183 | $37.4M | 0.0% | +427,554 |
| Nuveen, LLC | 4,385,141 | $34.7M | 0.0% | +1,468,543 |
| Rosalind Advisors, Inc. | 2,908,981 | $23.0M | 8.7% | −322,719 |
| Qube Research & Technologies Ltd | 2,893,749 | $22.9M | 0.0% | −1,220,676 |
| Vanguard Portfolio Management LLC | 2,626,208 | $20.8M | 0.0% | −39,400 |
| Wellington Management Group Llp | 2,365,103 | $18.7M | 0.0% | +193,749 |
| Morgan Stanley | 2,337,096 | $18.5M | 0.0% | −235,558 |
| Legal & General Group Plc | 2,012,792 | $15.9M | 0.0% | +104,503 |
| Armistice Capital, LLC | 1,958,702 | $15.5M | 0.4% | +48,864 |
| Two Sigma Investments, LP | 1,885,503 | $14.9M | 0.0% | −38,699 |
| Parkman Healthcare Partners LLC | 1,807,621 | $14.3M | 1.5% | +86,357 |
| Algert Global LLC | 1,742,942 | $13.8M | 0.2% | +585,984 |
| Northern Trust Corp | 1,597,749 | $12.7M | 0.0% | +153,132 |
| Goldman Sachs Group Inc | 1,594,072 | $12.6M | 0.0% | −19,578 |
| Aqr Capital Management LLC | 1,540,985 | $12.2M | 0.0% | +146,609 |
| Charles Schwab Investment Management Inc | 1,492,367 | $11.8M | 0.0% | +132,710 |
| Federated Hermes, Inc. | 1,434,433 | $11.4M | 0.0% | +577,620 |
| Bank Of America Corp /de/ | 1,397,050 | $11.1M | 0.0% | +522,653 |
| UBS Group AG | 1,300,913 | $10.3M | 0.0% | −345,465 |
| Ishara Investments LP | 1,230,000 | $9.7M | 7.2% | +205,000 |
| Vanguard Fiduciary Trust Co | 1,224,398 | $9.7M | 0.0% | +90,496 |
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 12SEC EDGARKevin McCulloch, Officer
- 13SEC EDGARBeth Hecht, Officer
- 14SEC EDGARPaul R. Edick, Officer
- 15
- 16SEC EDGARSteven Pieper, Officer
- 17SEC EDGARNerissa Kreher, Board member
- 18SEC EDGARJames Aloysius Brady, Board member
- 19SEC EDGARRicki Louise Fairley, Board member
- 20
- 21SEC EDGARDawn Halkuff, Board member
- 22SEC EDGARGarheng Kong, Board member
- 23SEC EDGARJeffrey W. Sherman, Board member
- 24SEC EDGARJohn P. Schmid, Board member
- 25SEC EDGARMarla Persky, Board member
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- 27
- 28
- 29
- 30