Xeris Biopharma reported a sharp increase in third-quarter revenue, led by growth in its Cushing’s syndrome treatment Recorlev, and raised its full-year revenue guidance. The company also lifted its 2030 revenue outlook and said it expects to begin a pivotal Phase 3 study of XP-8121 by year-end.
Key details
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Revenue rose 44% year over year to $107.2 million for the quarter ended Sept. 30. Net product revenue increased 43% to $106.3 million; royalty, contract and other revenue was $1.0 million.
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Recorlev revenue nearly doubled, rising 93% to $71.5 million from $37.0 million a year earlier. Xeris said record referrals and new patient starts followed an expansion of its commercial team.
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Gvoke revenue declined 14% to $21.7 million. Revenue from Keveyis increased 9% to $13.0 million.
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The company raised its 2026 total revenue guidance to $395 million–$405 million. Xeris attributed the improved outlook to momentum across Recorlev, Gvoke and Keveyis.
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Xeris now expects 2030 total revenue to exceed $1 billion, up from its previous outlook of approximately $750 million. The company also said Recorlev is on a path to nearly $1 billion in annual net revenue three to four years sooner than it had previously expected.
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XP-8121 remains on track for a pivotal Phase 3 trial. Xeris said it plans to start the Cornerstone study by the end of 2026.
The higher revenue outlook reflects the company’s expectations for growth across its commercial portfolio, with Recorlev the principal driver in the quarter. The XP-8121 update concerns a separate development program; the company gave a target start date for its pivotal study but no trial results.