DENVER, Colo., 30 May, 2024 (247marketnews.com)- Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) saw a significant elevation in its stock price today, trading at $2.265, up from the previous session’s close of $1.93, marking a notable positive movement. The bullish trend, evident from a 17.358% increase s, accompanies a rise in volume to 2.9 million shares, suggesting escalating interest from investors in anticipation of the company’s growth prospects.
Concurrently, Xeris revealed promising topline results from the Phase 2 study of its proprietary XeriSol™ technology, using XP-8121—a once-weekly subcutaneous injection formulated to treat adults with hypothyroidism. The study reports that XP-8121 normalizes thyroid stimulating hormone (TSH) and T4 levels more effectively at reduced doses compared to traditional daily oral levothyroxine medications.
“With hypothyroidism affecting nearly 30 million adults in the United States, our once-weekly injection holds the potential to significantly improve patient experience and treatment adherence,” said Paul R. Edick, Chairman and CEO of Xeris.
Xeris is gearing up for a pivotal Phase 3 study, subsequent to productive discussions with the FDA, with the potential to bring a transformative treatment option to the hypothyroidism patient community. The latest data will be disseminated at forthcoming medical conferences and submitted for publication in peer-reviewed journals.
“XP-8121 has demonstrated outstanding potential and we are excited to further its development,” stated Kenneth E. Johnson, PharmD, Senior Vice President of Global Development and Medical Affairs at Xeris.
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