Xeris Biopharma Holdings (NASDAQ:XERS) chairman and CEO Paul Edick joins Natalie Stoberman from the Proactive studios to discuss the company's newly released fourth quarter and 2022 financial results along with its financial guidance for 2023.
Edick says the main highlights of the financial reports achieving fourth quarter net product revenue of $32.5 million, building 52 percent in growth compared to the 2021 fourth quarter; ending 2022 with $122 million in cash, cash equivalents, and short-term investments realizing $50 million in synergies from the Strongbridge acquisition; and achieving full-year net product revenue of $109.3 million representing 38 percent in annual growth compared to 2021 on a pro forma basis.
Edick also says the company is also anticipating financial guidance of total revenues of $135-$165 million, cash utilization from operating activities of $57-$77 million, as well as year end cash, cash equivalents and short-term investments of $45-$65 million.