Xeris Pharmaceuticals, Inc. (XERS), a specialty pharmaceutical company, has seen an increase of 3.05% in aftermarket trading session. As a result that, XERS stock is trading at $2.70 at the time of this writing. Apparently, it seems that the recent rise in XERS stock is due to approval by shareholders to acquire Strongbridge Biopharma plc (SBBP). On Tuesday, XERS stock closed the day at $2.62.
XERS acquisition with SBBP
On Tuesday, XERS announced that the shareholders of the company had voted to approve the proposed acquisition of SBBP. About 97% of the votes were in favor of the acquisition. The company said that it would file form 8-K which would disclose the voting results in detail. Previously, on the 8th of September, the shareholders of SBBP had approved the merger, with 99% of votes in favor of the merger. After the acquisition, both the companies would merge under the name of an entity called Xeris Biopharma Holdings, Inc. Paul R. Edick, Chairman of the Board and CEO of Xeris, thanked the shareholders and said that with the combination of Xeris and Strongbridge as Xeris Biopharma Holdings, the company would be an innovative leader in endocrinology and neurology, which ultimately would lead them to serve the patients more efficiently.
Completion of enrollment in phase-1 study
On the 1st of September, XERS announced the completion of enrollment and successful dosing of all the participants taking part in the phase-1 study. The study is concerned about the levothyroxine (XP-8121) evaluation of pharmacokinetics, safety and tolerability, and potential for weekly dosing of an investigational and novel injection. The subcutaneous injection would be used for the treatment of hypothyroidism. X0-8121 is perceived to lessen in severity the challenges associated with the oral formations. They include identification of ideal dose due to absorption variation and medication adherence for the patients facing difficulties in maintenance of a stable and therapeutic serum level. The study was being conducted in association with Dr. Danielle Armas and Celerion, which is a leading contract research organization. The phase-1 study of levothyroxine (XP-8121) involves a single ascending dose crossover design in 30 of the healthy participants as compared to matching doses of levothyroxine (Synthroid®) and subcutaneous (SC) XP-8121. Dr. Ken Johnson, Xeris’ Senior Vice President of Global Development and Medical Affairs, said that the study may provide predictable bioavailability, comparable safety, and ease of use, hence proving to be clinically advantageous as compared to the established oral daily route.
What’s ahead for XERS?
Trends reveal a sanguine outlook for XERS stock. The stock has risen some 12% during the last month. The EPS of XERS stock is likely to increase by 55% in the current fiscal, while during the next fiscal year, it is expected to increase by 47%. So, based on these statistics, it could be easily said that XERS stock could gain a monumental rise in near-future times.