Xeris Biopharma Reportedly Draws Takeover Interest — But Firm Says It’s ‘Not For Sale’

• Xeris’s lead pipeline candidate for hypothyroidism could fetch between $1 billion and $3 billion annually.
• Xeris focuses on endocrine and rare diseases and currently sells three treatments.
• The company had $121.7 million in cash and cash equivalents as of the end of June.

Xeris Biopharma (XERS) was in focus on Tuesday after Danish drugmaker Lundbeck reportedly expressed interest in acquiring the Chicago-based biotech firm focused on rare-disease treatments.

According to a Bloomberg report on Tuesday, Lundbeck has been working with advisers to explore a potential takeover, though there is no guarantee the interest will result in a deal.

Xeris told Bloomberg that the company is “not for sale” and remains “laser focused” on developing and commercializing its medicines.

XERS shares surged more than 15% after the report was published but quickly pared the gains and turned negative. The stock is now trading around 2% lower.

A Look At Xeris’ Pipeline

Xeris focuses on endocrine and rare diseases and currently sells three treatments, including Recorlev for Cushing’s syndrome, Gvoke for severe low blood sugar, and Keveyis for primary periodic paralysis, a rare disorder that causes episodes of muscle weakness or paralysis.

Beyond its marketed products, Xeris’ pipeline is led by XP-8121, an experimental once-weekly injection for hypothyroidism.

The company has announced plans to begin a Phase 3 study by year-end, with topline results expected in late 2028 and a potential U.S. launch in 2030. Xeris estimates the treatment could eventually generate $1 billion to $3 billion in peak annual revenue.

Recorlev Drives Q2 Topline Growth

The company posted a 29% jump in second-quarter (Q2) revenue to $92.1 million. Product revenue rose 34% to $91 million, driven largely by Recorlev, whose sales surged 81% to $56.8 million.

Xeris reported a net loss of $31.1 million, or $0.18 per share, partly due to a $31 million non-cash charge related to a debt exchange. The company had $121.7 million in cash and cash equivalents as of the end of June.

Retail Turns ‘Extremely Bullish’ On XERS

Retail sentiment for XERS on Stocktwits turned ‘extremely bullish’ from ‘bullish’ over the past 24 hours, amid ‘extremely high’ message volumes. XERS was also among the top trending stocks on the platform.

One user said, “Even if it’s not Lundbeck, we know the conversations are happening now.”

The stock has gained around 33% so far this year.

Also read: BofA Raises Odds Of Success For Immix Biopharma’s NXC-201 Therapy — Sees Over 190% Upside In IMMX Stock

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