Xeris Pharmaceuticals, Inc. (XERS) stock announced the approval of its supplemental new drug application after which stock the stock become bullish today. XERS stock price saw a surge of 24.09% to reach $2.73 a share at the time of this writing. The stock was gloomy in the previous trading session and went low by 1.79% at closing. Let’s dig in to explore more of it.

Key News:

Xeris Pharmaceuticals, Inc is the pharmaceutical stock that focuses on the development and commercialization of ready-to-use injectable drug formulations. XERS today announced that the USA Food & Drug Administration has approved its supplemental new drug application (sNDA) of Gvoke® Kit. This drug is used to treat pediatric and adult patients suffering from severe hypoglycemia diabetes ages 2 years and above. Now the XERS stock will increase the manufacturing speed and will make sure the availability of Gvoke Kit in the first quarter of 2022. Gwoke Kit will be available in the market as mg/0.2 mL single-dose vial as well as syringe kit. This kit contains

• Single-dose sterile syringe with markings for 0.1 mL and 0.2 mL.
• A single-dose vial containing 0.2 mL of solution.

XERS stock Strengthened its Patent Estate:

XERS stock on August 19, 2021, did announce that It has been granted three new patents. These patents relate to its formulation technology platforms. Out of these three, U.S. Patent and Trademark Office has granted two patents to XERS stock. These are U.S. Patent Nos. 10,987,399 and 11,020,403. The third patent no is ZL201580042185.5 which China Intellectual Property Office has granted to XERS stock. The U.S patents use XeriSol™ formulation technology of Xeris stock while the Chinese patent uses XeriJect™ technology of XERS stock.

The addition of new patents has increased the size of XERS stock’s patent portfolio. Xeris stock now possesses a total of 121 across the globe out of which 16 belong to U.S. Furthermore, XERS stock has almost 120 pending patent applications worldwide and it expects to receive many grants in the upcoming few months.

Conclusion:

Investors are responding positively to the approval of the new drug application of Gvoke® Kit by the FDA. Xeris stock is progressing with time as its management is striving hard to expanding its patent portfolio. However, its stock price lost almost 26% in the last 12 months. It is better to know the nitty-gritty of the stock before making any decision.