We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Xeris (XERS) Up on Licensing Deal With Amgen to Develop Tepezza
Read MoreHide Full Article
Xeris Biopharma Holdings, Inc. (XERS - Free Report) , a commercial-stage company, gained 16.2% in the last trading session after the company announced a global licensing agreement with Amgen (AMGN - Free Report) .
The deal grants Amgen an exclusive license to utilize Xeris’ XeriJect technology to develop, manufacture and commercialize a subcutaneous formulation of teprotumumab in Thyroid Eye Disease (TED). Notably, TED is a serious and progressive rare autoimmune disease that often leads to blindness.
AMGN currently markets teprotumumab-trbw in the United States under the brand name Tepezza for the treatment of TED.
Xeris’ proprietary XeriJect technology enables the development of large molecule subcutaneous injections that offer an effective, safe and more convenient treatment approach that is patient-friendly.
The exclusive license to XERS’ XeriJect technology will allow Amgen to further develop a subcutaneous formulation of teprotumumab to potentially improve drug delivery, lower treatment burden and improvethe patient experience for the treatment for TED.
Per the terms of the agreement, Xeris is eligible to receive $75 million in development and regulatory milestones, plus sales-based milestones from Amgen in consideration of the license granted. Additionally, the company is also entitled to receive escalating single-digit royalties based on future sales of Tepezza using the XeriJect technology.
Over the past year, shares of Xeris have gained 16.2% against the industry’s 2.4% decline.
Image Source: Zacks Investment Research
The company currently markets three products in the United States, such as Gvoke, a ready-to-use liquid glucagon for the treatment of severe hypoglycemia, Keveyis to treat primary periodic paralysis and Recorlev for the treatment of endogenous Cushing’s syndrome.
Xeris’ clinical pipeline comprises its once-weekly subcutaneous injection of levothyroxine, which is currently under mid-stage development to address maintenance therapy in patients with congenital or acquired hypothyroidism who require continuous thyroid hormone replacement.
We remind the investors that Tepezza was added to Amgen’s portfolio of drugs after the $27.8 billion acquisition of Horizon Therapeutics, which was completed in October 2023. The acquisition also added two other rare disease drugs, Krystexxa (pegloticase) and Uplizna ((inebilizumab-cdon), to AMGN’s portfolio.
Krystexxa is used in adults to help reduce the signs and symptoms of gout that are not controlled by other treatments. Uplizna is a prescription medicine used to treat adults with neuromyelitis optica spectrum disorder who are anti-aquaporin-4 antibody positive.
In the past 30 days, the Zacks Consensus Estimate for Puma Biotech’s 2023 earnings per share (EPS) has increased from 72 cents to 73 cents. During the same time frame, the consensus estimate for Puma Biotech’s 2024 EPS has increased from 64 cents to 69 cents. Over the past year, shares of PBYI have gained 1.8%.
PBYI beat estimates in three of the last four quarters while missing on one occasion, delivering a four-quarter average earnings surprise of 76.55%.
In the past 30 days, the Zacks Consensus Estimate for ADMA Biologics’ 2023 loss per share has narrowed from 3 cents to 2 cents. The consensus estimate for ADMA Biologics’ 2024 EPS is pegged at 20 cents. Over the past year, shares of ADMA have gained 41.3%.
ADMA beat estimates in three of the trailing four quarters and matched in one, delivering an average earnings surprise of 63.57%.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Xeris (XERS) Up on Licensing Deal With Amgen to Develop Tepezza
Xeris Biopharma Holdings, Inc. (XERS - Free Report) , a commercial-stage company, gained 16.2% in the last trading session after the company announced a global licensing agreement with Amgen (AMGN - Free Report) .
The deal grants Amgen an exclusive license to utilize Xeris’ XeriJect technology to develop, manufacture and commercialize a subcutaneous formulation of teprotumumab in Thyroid Eye Disease (TED). Notably, TED is a serious and progressive rare autoimmune disease that often leads to blindness.
AMGN currently markets teprotumumab-trbw in the United States under the brand name Tepezza for the treatment of TED.
Xeris’ proprietary XeriJect technology enables the development of large molecule subcutaneous injections that offer an effective, safe and more convenient treatment approach that is patient-friendly.
The exclusive license to XERS’ XeriJect technology will allow Amgen to further develop a subcutaneous formulation of teprotumumab to potentially improve drug delivery, lower treatment burden and improvethe patient experience for the treatment for TED.
Per the terms of the agreement, Xeris is eligible to receive $75 million in development and regulatory milestones, plus sales-based milestones from Amgen in consideration of the license granted. Additionally, the company is also entitled to receive escalating single-digit royalties based on future sales of Tepezza using the XeriJect technology.
Over the past year, shares of Xeris have gained 16.2% against the industry’s 2.4% decline.
Image Source: Zacks Investment Research
The company currently markets three products in the United States, such as Gvoke, a ready-to-use liquid glucagon for the treatment of severe hypoglycemia, Keveyis to treat primary periodic paralysis and Recorlev for the treatment of endogenous Cushing’s syndrome.
Xeris’ clinical pipeline comprises its once-weekly subcutaneous injection of levothyroxine, which is currently under mid-stage development to address maintenance therapy in patients with congenital or acquired hypothyroidism who require continuous thyroid hormone replacement.
We remind the investors that Tepezza was added to Amgen’s portfolio of drugs after the $27.8 billion acquisition of Horizon Therapeutics, which was completed in October 2023. The acquisition also added two other rare disease drugs, Krystexxa (pegloticase) and Uplizna ((inebilizumab-cdon), to AMGN’s portfolio.
Krystexxa is used in adults to help reduce the signs and symptoms of gout that are not controlled by other treatments. Uplizna is a prescription medicine used to treat adults with neuromyelitis optica spectrum disorder who are anti-aquaporin-4 antibody positive.
Zacks Rank & Stocks to Consider
Xeris currently carries a Zacks Rank #3 (Hold).
Some better-ranked drug/biotech stocks worth mentioning are Puma Biotechnology, Inc. (PBYI - Free Report) and ADMA Biologics (ADMA - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 30 days, the Zacks Consensus Estimate for Puma Biotech’s 2023 earnings per share (EPS) has increased from 72 cents to 73 cents. During the same time frame, the consensus estimate for Puma Biotech’s 2024 EPS has increased from 64 cents to 69 cents. Over the past year, shares of PBYI have gained 1.8%.
PBYI beat estimates in three of the last four quarters while missing on one occasion, delivering a four-quarter average earnings surprise of 76.55%.
In the past 30 days, the Zacks Consensus Estimate for ADMA Biologics’ 2023 loss per share has narrowed from 3 cents to 2 cents. The consensus estimate for ADMA Biologics’ 2024 EPS is pegged at 20 cents. Over the past year, shares of ADMA have gained 41.3%.
ADMA beat estimates in three of the trailing four quarters and matched in one, delivering an average earnings surprise of 63.57%.