Q2 2024 Xeris Biopharma Holdings Inc Earnings Call

August 8, 2024

Allison Wey: For more information on such risks, please refer to our earnings release and risk factors included in our SEC filings. Any forward-looking statements in this call represent our views only as of the date of this call, and, subject to applicable law, we disclaim any obligation to update such statements. I will now turn the call over to John Shannon.

Operator: to differ materially from those forward-looking statements.

Operator: For more information on such risks, please refer to our earnings release and risk factors included in our SEC filings. Any forward-looking statements in this call represent our views only as of the date of this call, and, subject to applicable law, we disclaim any obligation to update such statements.

Operator: For more information on such risks, please refer to our earnings release and risk factors included in our SEC filing. Any forward-looking statements in this call represent our views only. As the data is called and subject to applicable law, we disclaim any obligations to update such statements.

Risks please refer to our earnings release and risk factors included in our SEC filings any forward looking statements in this call represent our views only as of the date of this call and subject to applicable law, we disclaim any obligations to update such statements.

Operator: I will now turn the call over to John Shannon.

I do not wish to disclaim any obligation to update such statement. I will now turn the call over to John Shannon.

John Shannon: Thank you, Allison, and good morning, everyone. I'm honored to speak with you for the first time as the CEO of Xeris. It's an exciting time for our company as we start this new era, and I'm thrilled to serve in this role. As you all saw from this morning's earnings release, we had an outstanding second quarter.

Operator: to different materially from those forward-looking statements.

John Shannon: thank you alison and good morning everyone i m honored to speak with you for the first time as the ceo of zero it's an exciting time for our company as we start this new era and i'm thrilled to serve in this role

Operator: For more information on such risks, please refer to our earnings release and risk factors included in our SEC filing. Any forward-looking statements in this call represent our views only as the data is called and subject to applicable law, we disclaim any obligations to update such statements.

Allison Wey: I will now turn the call over to John Shannon. Thank you, Allison and good morning, everyone.

John Shannon: As you all saw from this morning's earnings release, we had an outstanding second quarter. But before we get into the results, I want to take a moment to outline my near-term priorities as the new CEO .

John Shannon: But before we get into the result, I want to take a moment to outline my near-term priorities as the new CEO. I'm focused on three key priorities to guide our strategic initiatives and decision-making processes in the near-term. These represent important opportunities for creating value for our stakeholders. The first priority is maintaining rapid commercial growth and expanding the reach of our treatments to the patient communities they serve. We have three great commercial products making meaningful impact on patients' lives. We aim to pursue growth strategies that are both ambitious and sustainable. We're confident that our existing products can continue to deliver meaningful growth in the near and long term.

John Shannon: I'm honored to speak with you for the first time as the CEO of Xeris. It's an exciting time for our company as we start this new era and I'm thrilled to serve in this role. As you all saw from this morning's earnings release, we had an outstanding second quarter.

John Shannon: I'm focused on three key priorities to guide our strategic initiatives and decision-making processes in the near term. These represent important opportunities for creating value for our stakeholders. The first priority is maintaining rapid commercial growth and expanding the reach of our treatments to the patient communities they serve. We have three great commercial products making meaningful impacts on patients' lives.

John Shannon: The first priority is maintaining rapid commercial growth and expanding the reach of our treatments to the patient communities they serve. We have three great commercial products making meaningful impact on patients' lives.

John Shannon: We aim to pursue growth strategies that are both ambitious and sustainable. We're confident that our existing products can continue to deliver meaningful growth in the near and long term. And we intend to consistently optimize how we deploy the resources necessary to drive. The second priority is a renewed commitment to financial discipline, ensuring investments are made wisely and remain focused on value accretion. We've built a diverse and resilient business model that can weather market fluctuations and deliver consistent performance. We can achieve our business objectives by employing prudent financial planning, appropriate risk management, and by maintaining a strong cash reserve. We ended the second quarter with a very healthy $77 million in cash and investments.

John Shannon: And we intend to consistently optimize how we deploy the resources necessary to drive them.

John Shannon: The second priority is a renewed commitment to financial discipline. Ensuring investments are made wisely and remain focused on value accretion. We've built a diverse and resilient business model that can weather market fluctuations and deliver consistent performance. We can achieve our business objectives by employing prudent financial planning, appropriate risk management, and by maintaining a strong cash reserve. We ended the second quarter with a very healthy 77 million in cash and investment. And we intend to deploy those financial resources judiciously as business needs or opportunity forms. Given our strong cash position and rapid growth of our business, I do not plan to raise any cash by adding any incremental debt or equity that would result in shareholder dilution.

John Shannon: The second priority is a renewed commitment to financial discipline, ensuring investments are made wisely and remain focused on value accretion. We've built a diverse and resilient business model that can weather market fluctuations and deliver consistent performance. We can achieve our business objectives by employing prudent financial planning, appropriate risk management, and by maintaining a strong cash reserve. We ended the second quarter with a very healthy $77 million in cash and investments.

John Shannon: The second priority is a renewed commitment to financial discipline, ensuring investments are made wisely and remain focused on value accretion.

John Shannon: We've built a diverse and resilient business model that can weather market fluctuations and deliver consistent performance.

John Shannon: We can achieve our business objectives by employing prudent financial planning, appropriate risk management, and by maintaining a strong cash reserve. We ended the second quarter with a very healthy $77 million in cash and investment.

John Shannon: And we intend to deploy those financial resources judiciously as business needs or opportunities warrant. Given our strong cash position and the rapid growth of our business, I do not plan to raise any cash by adding any incremental debt or equity that would result in shareholder delusion. Given our differentiated and enviable portfolio of assets, any M&A activity will be measured and opportunistic. In the near to intermediate term, we expect business development activity will be focused on the addition of new technology partnerships or commercial partnerships that can leverage our existing products, formulations, or commercial capabilities, which add to our growth. The third priority is to improve the quality of our external communications and guidance.

John Shannon: Given our strong cash position and rapid growth of our business, I do not plan to raise any cash by adding any incremental debt or equity that would result in shareholder delusion. Given our differentiated and enviable portfolio of assets, any M&A activity will be measured and opportunistic. In the near to intermediate term, we expect business development activity will be focused on the addition of new technology partnerships or commercial partnerships that can leverage our existing products, formulations, or commercial capabilities, which add to our growth.

John Shannon: And we intend to deploy those financial resources judiciously as business needs or opportunity warrants.

John Shannon: given our strong cash position and rapid growth of our business i do not plan to raise any cash by adding any incremental debt or equity that would result in shareholder dilution

John Shannon: Given our differentiated and enviable portfolio of assets, any M&A activity will be measured and opportunistic. In the near to intermediate term, we expect business development activity will be focused on the addition of new technology partnerships or commercial partnerships that can leverage our existing products, formulations, or commercial capabilities, which add to our growth.

John Shannon: given our differentiated an enviable portfolio of assets any ma activity will be measured an opportunistic

John Shannon: in the near-to intermediate term we expect business development activity will be focused on the addition of new technology partnerships or commercial partnerships that can leverage our existing products formulations or commercial capabilities which add to our growth

John Shannon: The third priority is to improve the quality of our external communications and guidance. Our external stakeholders are critical to our success, and it is extremely important that we listen closely to feedback and communicate in the best manner possible, setting the right expectations around the ability of our products to deliver growth and value. To that, we understand that our initial 2024 revenue guidance suggested that we were not competent as the growth prospects of this business. as I explained, with my first priority, we are committed to driving rapid and sustained growth of our commercial products. Given our first half performance and our momentum going into the second half of the year, we are confident in the performance and growth of our business.

John Shannon: The third priority is to improve the quality of our external communications and guidance. Our external stakeholders are critical to our success, and it is extremely important that we listen closely to feedback and communicate in the best manner possible, setting the right expectations around the ability of our products to deliver growth and value. To that, we understand that our initial 2024 revenue guidance suggested that we were not competent as the growth prospects of this business, as I explained with my first priority we are committed to driving rapid and sustained growth of our commercial products. Given our first half performance and our momentum going into the second half of the year, we are confident in the performance and growth of our business. Our commercial revenue range is now 190 to 200 million.

John Shannon: The third priority is to improve the quality of our external communications and guidance.

John Shannon: Our external stakeholders are critical to our success, and it is extremely important that we listen closely to feedback and communicate in the best manner possible, setting the right expectations around the ability of our products to deliver growth and value. To that end, we understand that our initial 2024 revenue guidance suggested that we were not confident in the growth prospects of this business.

John Shannon: To that end, we understand that our initial 2024 revenue guidance suggested that we were not competent in the growth prospects of this business.

John Shannon: As I explained with my first priority, we are committed to driving rapid and sustained growth for our commercial products. Given our first half performance and our momentum going into the second half of the year, we are confident in the performance and growth of our business. Therefore, we are raising the low end of our total revenue outlook for the full year from $175 million to $190 million. Our updated total revenue range is now between $190 million and $200 million. By executing on these three priorities, I expect to build upon the strong foundation we've created, which will drive our overall business performance to new heights. Now, let's move on to the highlights of the second quarter.

John Shannon: As I explained with my first priority, we are committed to driving rapid and sustained growth of our commercial products. Given our first half performance and our momentum going into the second half of the year, we are confident in the performance and growth of our business.

John Shannon: Therefore, we are raising the low end of our total revenue outlook for the full year from $175 million to $190 million. Our updated total revenue range is now $190 to $200 million.

John Shannon: Our commercial revenue range is now 190 to 200 million. By executing on these three priorities, I expect to build upon the strong foundation we've created, which will drive our overall business performance to new heights.

John Shannon: By executing on these three priorities, I expect to build upon the strong foundation we've created which will drive our overall business performance to new heights.

John Shannon: By executing on these three priorities, I expect to build upon the strong foundation we've created, which will drive our overall business performance to new heights.

John Shannon: Now, let's move on to the highlights of the second quarter. I'm very pleased to report that we posed in an outstanding quarter of total revenue, 48 million, a 26% increase over Q2 last year, driven by continued strong demand of all three products, as well as contributions from our partnerships. Our portfolio of commercially available products, Rikorla, Jivo, and Kaveas, each of which is a transformative therapeutic in their own respective market, collectively generated more than 46 million in revenue, a 26% increase over the same quarter in 2023. This marks the 11th quarter in a row of greater than 20% growth.

John Shannon: Now, let's move on to the highlights of the second quarter. I'm very pleased to report that we posed in an outstanding quarter of total revenue, 48 million, a 26% increase over Q2 last year, driven by continued strong demand of all three products as well as contributions from our partnerships. Our portfolio of commercially available products, Rikorla, Jivo, and Kaveas, each of which is a transformative therapeutic in their own respective market, collectively generated more than 46 million in revenue, a 26% increase over the same quarter in 2023.

John Shannon: now let's move on to the highlights of the second quarter

John Shannon: I'm very pleased to report that we posted an outstanding quarter of total revenue, $48 million, a 26% increase over Q2 last year, driven by continued strong demand for all three products as well as contributions from our partners. Our portfolio of commercially available products, Recorla, Jeevo, and Coveas, each of which is a transformative therapeutic in their own respective market, collectively generated more than $46 million in revenue, a 26% increase over the same quarter in 2023. This marks the 11th quarter in a row of greater than 20% growth. For the first half of 2024, these products are up 25% over the same period last year. Our commercial engine is clearly working.

John Shannon: I'm very pleased to report that we posted an outstanding quarter of total revenue, $48 million, a 26% increase over Q2 last year, driven by continued strong demand for all three products as well as contributions from our partners. Our portfolio of commercially available products, Recorla, Jeevo, and Coveas, each of which is a transformative therapeutic in their own respective market, collectively generated more than 46 million in revenue, a 26% increase over the same quarter in 2023.

John Shannon: Our portfolio of commercially available products, Recorla, Jeevo, and Cavaeus, each of which is a transformative therapeutic in their own respective market, collectively generated more than $46 million in revenue.

John Shannon: a 26% increase over the same quarter in 2023. This marks the 11th quarter in a row of greater than 20% growth.

John Shannon: This marks the 11th quarter and a row of greater than 20% growth. For the first half of 2024, these products are up 25% over the same period last year. Our commercial engine is clearly working, we're enjoying continuing rapid growth in both Jivo and Rikorla and a very sturdy commitment to Kaveas from both patients and health care professionals.

John Shannon: This marks the 11th quarter in a row of greater than 20% growth. For the first half of 2024, these products are up 25% over the same period last year. Our commercial engine is clearly working. We're enjoying continuing rapid growth in both GVOC and RecorLift and a very sturdy commitment to Giveus from both patients and health care professionals. Now, let's get into a little more of the details, starting with re-corre

John Shannon: For the first half of 2024, these products are up 25% over the same period last year. Our commercial engine is clearly working; we're enjoying continuing rapid growth in both Jivo and Rikorla and a very sturdy commitment to Kaveas from both patients and health care professionals.

John Shannon: For the first half of 2024, these products are up 25% over the same period last year.

John Shannon: We're enjoying continuing rapid growth in both GVOOC and ReCORLA and a very sturdy commitment to GAVEAS from both patients and health care professionals. Let's get into a little more of the details, starting with ReCORLA. As a reminder, Ricorlav is a cortisol synthesis inhibitor indicated for the treatment of endogenous hypocortisolemia in patients with Cushing syndrome for whom surgery is not an option or hasn't worked. Importantly, ReCorrelat is the only treatment approved for all etiologies of Cushing syndrome and has been proven in long-term studies to normalize cortisol levels. Cushing syndrome is an extremely challenging disorder with a two to four times higher mortality rate than the general population and comorbidities that drastically impact a person's quality of life.

John Shannon: Our commercial engine is clearly working. We're enjoying continuing rapid growth in both GVOC and RecorLift, and a very sturdy commitment to Giveus from both patients and health care professionals.

John Shannon: Let's get into a little more of the details, starting with Rikorla. As a reminder, Rikorla, there's a cortisol synthesis inhibitor indicated for the treatment of endogenous hypocortisolemia in patients with Cushing syndrome for whom surgery is not an option or hasn't worked. Importantly, Rikorla is the only treatment approved for all etiologies of Cushing syndrome and has been proven in long-term studies to normalize cortisol levels. Cushing syndrome is an extremely challenging disorder with a two to four times higher mortality rate than the general population and comorbidities that drastically impact a person's quality of life. While there are multiple approved medical treatments available, patients often struggle to gain control over the disease given its complexities.

John Shannon: Let's get into a little more of the details, starting with ReCOR11.

John Shannon: As a reminder, Ricorlav is a cortisol synthesis inhibitor indicated for the treatment of endogenous hypocortisolemia in patients with Cushing syndrome for whom surgery is not an option or hasn't worked. Importantly, ReCorrelate is the only treatment approved for all etiologies of Cushing syndrome and has been proven in long-term studies to normalize cortisol levels. Cushing syndrome is an extremely challenging disorder with a two to four times higher mortality rate than the general population and comorbidities that drastically impact a person's quality of life.

Speaker Change: As a reminder, Ricorlav is a cortisol synthesis inhibitor indicated for the treatment of endogenous hypocortisolemia in patients with Cushing's syndrome for whom surgery is not an option or hasn't worked.

John Shannon: Importantly, ReCorrelate is the only treatment approved for all etiologies of Cushing's syndrome and has been proven in long-term studies to normalize cortisol levels.

John Shannon: cushing syndrome is an extremely challenging disorder with a two to four times higher mortality rate than the general population and cmorbidities that drastically impact a person's quality of life

John Shannon: While there are multiple approved medical treatments available, patients often struggle to gain control over the disease given its complexities. Clinicians increasingly recognize the burden of hypocortisolemia in our expanding their testing efforts, not surprisingly, more patients with the disease are being discovered every day. In Q2, Rikorla generated a record number of referrals and a record number of new patient starts. With such favorable dynamics, Rikorla is entering into a period of accelerating growth.

John Shannon: While there are multiple approved medical treatments available, patients often struggle to gain control over the disease given its complexity. However, clinicians increasingly recognize the burden of hypercortisolemia and are expanding their testing efforts. Not surprisingly, more patients with the disease are being discovered every day. In Q2, ReCORLA generated a record number of referrals, and a record number of new patients were started. With such favorable dynamics, we're confident Recorlov is entering into a period of accelerating growth. Moving on to Jivo.

John Shannon: While there are multiple approved medical treatments available, patients often struggle to gain control over the disease given its complexity. However, clinicians increasingly recognize the burden of hypercortisolemia and are expanding their testing efforts. Not surprisingly, more patients with the disease are being discovered every day. In Q2, Recorla generated a record number of referrals, and a record number of new patients were started. With such favorable dynamics, we're confident Recorlov is entering into a period of accelerating growth. Moving on to GEVO.

John Shannon: While there are multiple approved medical treatments available, patients often struggle to gain control over the disease given its complexities.

John Shannon: Clinicians increasingly recognize the burden of hypocortisolemia in our expanding their testing efforts; not surprisingly, more patients with the disease are being discovered every day. In Q2, Rikorla generated a record number of referrals and a record number of new patient starts. With such favorable dynamics, Rikorla is entering into a period of accelerating growth.

John Shannon: Clinicians increasingly recognize the burden of hypercortisolemia and are expanding their testing efforts. Not surprisingly, more patients with the disease are being discovered every day.

Speaker Change: In Q2, Recorla generated a record number of referrals and a record number of new patient starts.

Speaker Change: With such favorable dynamics, we're confident Recorlav is entering into a period of accelerating growth.

John Shannon: Moving on to GIVO. I'm sure they would call that GIVO-Kipal Pen is our liquid, ready-to-use glucagon in an auto-injector used for the treatment of severe hypoglycemia in people with diabetes. Following to the prevalence and preventable hospitalizations and mortality associated with severe low blood sugar, the health advocacy organizations, including the American Diabetes Association and the End of Society, have reached consensus opinion that any person with diabetes taking either insulin or sulfonylurea should always be carrying a ready-to-use glucagon product like GIVO. We estimate that of the approximately 15 million people in U.S. that should be protected; fewer than one million currently are.

John Shannon: Moving on to GIVO. I'm sure they would call that GIVO-Kipal Pen is our liquid, ready-to-use glucagon in an auto-injector used for the treatment of severe hypoglycemia in people with diabetes. Following to the prevalence and preventable hospitalizations and mortality associated with severe low blood sugar, the health advocacy organizations, including the American Diabetes Association and the end of society have reached consensus opinion that any person with diabetes taking either insulin or sulfoniarea should always be carrying a ready-to-use glucagon product like GIVO.

John Shannon: I'm sure you recall that Gevoke Hypopen is our liquid, ready-to-use glucagon in an autoinjector used for the treatment of severe hypoglycemia in people with diabetes. Owing to the prevalence and preventable hospitalizations and mortality associated with severe low blood sugar. The health advocacy organizations, including the American Diabetes Association and the EndoSociety, have reached a consensus opinion that any person with diabetes taking either insulin or sulfonylurea should always be carrying a ready-to-use glucagon product like Jeeva. We estimate that of the approximately 15 million people in the U.S. that should be protected. Fewer than one million currently are

John Shannon: I'm sure you recall that G-Volk Hypopen is our liquid, ready-to-use glucagon in an autoinjector used for the treatment of severe hypoglycemia in people with diabetes. Owing to the prevalence and preventable hospitalizations and mortality associated with severe low blood sugar. The health advocacy organizations, including the American Diabetes Association and the EndoSociety, have reached a consensus opinion that any person with diabetes taking either insulin or sulfonylurea should always be carrying a ready-to-use glucagon product like Jeeva. We estimate that of the approximately 15 million people in the U.S., that should be protected. Fewer than 1 million are currently off.

Speaker Change: Moving on to G-Vote.

Speaker Change: i'm sure recall that gevo ipopen is our liquid ready to use ulcon in an auto injector used for the treatment of severe hypolyicemia in people with diabetes

Speaker Change: Owing to the prevalence and preventable hospitalizations and mortality associated with severe low blood sugar,

Speaker Change: The health advocacy organizations, including the American Diabetes Association and the EndoSociety, have reached consensus opinion that any person with diabetes taking either insulin or sulfonylurea should always be carrying a ready-to-use glucagon product like GVOKE.

John Shannon: We estimate that of the approximately 15 million people in U.S, that should be protected, fewer than one million currently are. Thankfully, our ongoing efforts to increase awareness of this discrepancy and the need to protect patients at risk is gaining traction and driving market growth. Total prescriptions for GIVO can Q2 grew 13% sequentially over Q1 and 27% over the same quarter last year. Importantly, GIVO's market share increased to 34%. In the quarters and years ahead, we expect to steadily add more prescribers and protect more and more of the 14 million plus patients who remain unprotected.

Speaker Change: We estimate...

Speaker Change: that of the approximately 15 million people in the U.S. that should be protected, fewer than 1 million currently are.

John Shannon: Thankfully, our ongoing efforts to increase awareness of this discrepancy and the need to protect patients at risk are gaining traction and driving market growth. Total prescriptions for GIVO can Q2 grew 13% sequentially over Q1 and 27% over the same quarter last year. Importantly, GIVO's market share increased to 34%. In the quarters and years ahead, we expect to steadily add more prescribers and protect more and more of the 14 million plus patients who remain unprotected.

John Shannon: Thankfully, our ongoing efforts to increase awareness of this discrepancy and the need to protect patients at risk are gaining traction and driving market growth. Total prescriptions for GVOC in Q2 grew 13% sequentially over Q1 and 27% over the same quarter last year. Importantly, GVOOC's market share increased to 34%. In the quarters and years ahead, we expect to steadily add more prescribers and protect more and more of the 14 million plus patients who remain unprotected. Last but by no means least, we turn to Kiveyas.

John Shannon: Thankfully, our ongoing efforts to increase awareness of this discrepancy and the need to protect patients at risk are gaining traction and driving market growth. Total prescriptions for GVOC in Q2 grew 13% sequentially over Q1 and 27% over the same quarter last year. Importantly, GVOOC's market share increased to 34 percent. In the quarters and years ahead, we expect to steadily add more prescribers and protect more and more of the 14 million plus patients who remain unprotected. Last but by no means least, we turn to Kiveyas.

Speaker Change: Thankfully, our ongoing efforts to increase awareness of this discrepancy and the need to protect patients at risk is gaining traction and driving market growth.

Speaker Change: total prescriptions for gvo and q two grew thirteen percent sequentially over q one and twenty-seven percent over the same quarter last year importantly gil's market share increased the thirty-four percent

Speaker Change: In the quarters and years ahead, we expect to steadily add more prescribers and protect more and more of the 14 million plus patients who remain unprotected.

John Shannon: Last, but by no means least, we turn to Kaveas. What an amazing story Kaveas continues to be for the patients that need it and for our nearest business. Just to remind you, Kaveas is used to treat primary periodic paralysis or PPP, which is an ultra-rare genetic neuromuscular condition that interferes with the normal functioning of muscle movement. Kaveas lost orphan exclusivity in August of 2022, yet has proven extremely resistant to generic substitution, given the uniqueness of the disorder and the PPP community's critical reliance on zero support for both healthcare professionals and our patients. During Q2, the number of patients being treated with Kaveas was nearly equivalent to Q1, and that trend has continued in Q3, a remarkable achievement.

John Shannon: Last, but by no means least, we turn to Kaveas. What an amazing story Kaveas continues to be for the patients that need it and for our nearest business. Just to remind you, Kaveas is used to treat primary periodic paralysis or PPP, which is an ultra rare genetic neuromuscular condition that interferes with the normal functioning of muscle movement. Kaveas lost orphan exclusivity in August of 2022, yet has proven extremely resistant to generic substitution, given the uniqueness of the disorder and the PPP community's critical reliance on zero support for both healthcare professionals and our patients.

Speaker Change: Last, but by no means least, we turn to Kiveyas. What an amazing story Kiveyas continues to be for the patients that need it and for our Xeris business.

John Shannon: What an amazing story Kiveyas continues to be for the patients that need it and for our Xeris business. Just to remind you, Cavaeus is used to treat Primary Periodic Paralysis, or PPP, which is an ultra-rare genetic neuromuscular condition that interferes with the normal functioning of muscle movement. Cuevas lost orphan exclusivity in August of 2022, yet it has proven extremely resistant to generic substitution given the uniqueness of the disorder and the PPP community's critical reliance on Xeris support for both healthcare professionals and our patients. During Q2, the number of patients being treated with Conveyance was nearly equivalent to Q1. And that trend has continued into Q3. A remarkable agenda.

John Shannon: What an amazing story Kiveyas continues to be, for the patients that need it and for our Xeris business. Just to remind you, Tiveus is used to treat Primary Periodic Paralysis, or PPP, which is an ultra-rare genetic neuromuscular condition that interferes with the normal functioning of muscle movement. Cuevas lost orphan exclusivity in August of 2022, yet it has proven extremely resistant to generic substitution given the uniqueness of the disorder and the PPP community's critical reliance on Xeris support for both healthcare professionals and our patients. During Q2, the number of patients being treated with Conveyance was nearly equivalent to Q1.

Speaker Change: Just to remind you, Tiveus is used to treat Primary Periodic Paralysis, or PPP, which is an ultra-rare genetic neuromuscular condition that interferes with the normal functioning of muscle movement.

Speaker Change: Cuevas lost orphan exclusivity in August of 2022.

Speaker Change: yet has proven extremely resistant to generic substitution given the uniqueness of the disorder

Speaker Change: and the PPP community's critical reliance on Xeris support for both healthcare professionals and our patients.

John Shannon: During Q2, the number of patients being treated with Kaveas was nearly equivalent to Q1, and that trend has continued in the Q3, a remarkable achievement. We're increasingly optimistic about the longer term strength and resilience of Kaveas, and will continue to provide services that matter most for the well-being of patients suffering from PPP.

Speaker Change: During Q2, the number of patients being treated with conveyance was nearly equivalent to Q1 and that trend has continued into Q3. A remarkable achievement.

John Shannon: And that trend has continued into Q3, a remarkable We're increasingly optimistic about the longer-term strength and resilience of Tiveyas, and we'll continue to provide services that matter most for the well-being of patients suffering from PPP, quickly shifting to our pipeline. In late May, we announced positive top-line results of our Phase 2 study of XP8121, our once weekly subcutaneous injectable formulation of levothyroxine. The team is busy preparing for an end-of-phase-II meeting with the FDA this fall.

John Shannon: We're increasingly optimistic about the longer-term strength and resilience of Kaveas, and will continue to provide services that matter most for the well-being of patients suffering from PPP.

John Shannon: We're increasingly optimistic about the longer-term strength and resilience of Tiveus, and we'll continue to provide services that matter most for the well-being of patients suffering from PPP, quickly shifting to our pipeline. In late May, we announced positive top-line results from our Phase 2 study of XP8121, our once weekly subcutaneous injectable formulation of levothyroxine. The team is busy preparing for an end-of-phase-II meeting with the FDA this fall, during which time we will seek clarification about the Phase 3 requirements necessary to earn approval for this novel product.

Speaker Change: we're increasingly optimistic about the longer-term strength and resilience of caus and will continue to provide services that matter most for the well-being of patient suffering from ppp

John Shannon: Quickly shifting to our pipeline. In late May, we announced positive top-line results of our phase two study of XP-8121, our once-weekly subcontainee is injectable formulation of lethal pyroxene. The team is busy preparing for an end-of-phase two meeting with the FDA this fall. During which time, we will seek clarification about the phase three requirements necessary to earn approval for this novel product. The more we evaluate the data and market potential of XP-8121, the more excited we get. Owing to the size of the hypothyroidism marketplace and the desperate need for innovation to serve patients struggling for control.

Speaker Change: quickly shifting to our pipeline

Speaker Change: in late may we announced positive top line results of our phase i study of xp eighty one and twenty-one are once weekly subantaneous injectable formulation of leal by roxing

Speaker Change: The team is busy preparing for an end of Phase 2 meeting with the FDA this fall, during which time we will seek clarification about the Phase 3 requirements necessary to earn approval for this novel product.

John Shannon: During this time, we will seek clarification about the Phase 3 requirements necessary to earn approval for this novel product. The more we evaluate the data and market potential of XP8121, the more excited we become, owing to the size of the hypothyroidism marketplace and the desperate need for innovation to serve patients struggling for control. Innumerable reports have been published documenting the various compliance and absorption challenges that can interfere with the bioavailability of oral-lethal diuretics.

John Shannon: The more we evaluate the data and market potential of XP8121, the more excited we get, owing to the size of the hypothyroidism marketplace and the desperate need for innovation to serve patients struggling for control. However, innumerable reports have been published documenting the various compliance and absorption challenges that can interfere with the bioavailability of oral-lethal diuretics. Of note, in our phase 2 study, 40% of the patients considered stable at the time of screening were found to have their TSH or T4 outside of the normal range.

Speaker Change: The more we evaluate the data and market potential of XP8121, the more excited we get, owing to the size of the hypothyroidism marketplace and the desperate need for innovation to serve patients struggling for control.

John Shannon: Owing to the size of the hypothyroidism marketplace and the desperate need for innovation to serve patients struggling for control. Inumerable reports have been published documenting the various compliance and absorption challenges that can interfere with the bioavailability of oral-level dioxin. Of note, in our phase 2 study, 40% of the patients considered stable. At the time of screening, we found to have their TSH or T4 outside of normal range.

John Shannon: Inumerable reports have been published documenting the various compliance and absorption challenges that can interfere with the bioavailability of oral-level dioxin. Of note, in our phase 2 study, 40% of the patients considered stable. At the time of screening, we found to have their TSH or T4 outside of normal range.

Speaker Change: Innumerable reports have been published documenting the various compliance and absorption challenges that can interfere with bioavailability of oral levodiroxine.

John Shannon: Of note, in our phase two study, 40% of the patients considered stable at the time of screening were found to have their TSH or T4 outside of the normal range. Finally, in Q2, we welcomed Betabionics to our stable of partners seeking to leverage our formulation technology to create novel medicines. As announced in May, we're aiding beta bionics in the development of a novel, ready-to-use glucagon formulation that could work optimally in their dual hormone pump program.

Speaker Change: Of note, in our Phase II study, 40% of the patients considered stable at the time of screening were found to have their TSH or T4 outside of normal range.

John Shannon: Finally, in Q2, we welcomed Beta-Bonics to our stable of partners seeking to leverage our formulation technology to create novel medicines. As announced in May, we're eating beta-bionics in the development of a novel ready-to-use glucagon formulation that could work optimally in their dual hormone pump program.

John Shannon: Finally, in Q2, we welcomed Betabionics to our stable of partners seeking to leverage our formulation technology to create novel medicines. As announced in May, we're aiding BetaBionics in the development of a novel, ready-to-use glucagon formulation that could work optimally in their dual hormone pump program. And with that, I'm going to pass over to Steve to walk you through the details of our second quarter financial results.

John Shannon: Finally, in Q2, we welcomed beta-bonics to our stable of partners seeking to leverage our formulation technology to create novel medicines. As announced in May, we're eating beta-bionics in the development of a novel ready to use glucagon formulation that could work optimally in their dual hormone pump program.

Speaker Change: Finally, in Q2, we welcomed Betabionics to our stable of partners seeking to leverage our formulation technology to create novel medicines.

Speaker Change: As announced in May, we're aiding Betabionics in the development of a novel, ready-to-use glucagon formulation that could work optimally in their dual-hormone pump program.

John Shannon: So, once again, I couldn't be more excited for Xeris as we enter a new era. And I'm confident that we are well on our way to building an innovative, self-sustaining, fast-growing biopharmaceutical company committed to making a difference in patients' lives. And with that, I'm going to pass over to Steve to walk you through the details of our second quarter financial results.

Speaker Change: So once again, I couldn't be more excited for Xeris as we enter a new era.

Speaker Change: And I'm confident that we are well on our way to building an innovative, self-sustaining, fast-growing biopharmaceutical company committed to making a difference in patients' lives. And with that, I'm going to pass over to Steve to walk you through the details of our second quarter financial results.

Steve Pieper: And with that, I'm going to pass over to Steve to walk you through the details of our second quarter financial results.

Steve: Thanks, John. Good morning, everyone.

Steve Pieper: Thanks, John.

Steve Pieper: Good morning, everyone. We ended the quarter with net product revenue of $46.5 million and total revenue of $48.1 million, both increasing by approximately 26% compared to prior year. Year-to-date net product revenue was $86.8 million, and total revenue was $88.7 million, both increasing by approximately 25% compared to the prior year. This growth in revenue was driven by strong performance from both Recurlev and Chivo. Recurlev that revenue was $13.3 million for the quarter, increasing 86% compared to prior year. On a sequential basis, Recurlev net revenue increased by an impressive $2.7 million, representing growth of 26%. These increases were driven by the average number of patients on Recurlev, increasing 124% from last year and 25% compared to Q1.

Steve Pieper: Good morning, everyone. We ended the quarter with net product revenue of $46.5 million, and total revenue of $48.1 million, both increasing by approximately 26% compared to prior year. Year-to-date net product revenue was $86.8 million, and total revenue was $88.7 million, both increasing by approximately 25% compared to prior year. This growth in revenue was driven by strong performance from both Recurlev and Chivo. Recurlev that revenue was $13.3 million for the quarter, increasing 86% compared to prior year.

Steve: We ended the quarter with net product revenue of $46.5 million and total revenue of $48.1 million, both increasing by approximately 26% compared to the prior year. Year-to-date net product revenue was $86.8 million, and total revenue was $88.7 million, both increasing by approximately 25% compared to the prior year. This growth in revenue was driven by strong performance from both Recorliv and Chivo. For Corolla, revenue was $13.3 million for the quarter, increasing 86% compared to the prior year.

Steve: Thanks, John. Good morning, everyone.

Steve: We ended the quarter with net product revenue of $46.5 million and total revenue of $48.1 million, both increasing by approximately 26% compared to prior year.

Steve: Year-to-date net product revenue was $86.8 million and total revenue was $88.7 million, both increasing by approximately 25% compared to prior year.

Steve: This growth in revenue was driven by strong performance from both Rekorlev and Chivo. Rekorlev net revenue was $13.3 million for the quarter, increasing 86% compared to prior year.

Steve: For Coralette, that revenue was $13.3 million for the quarter, increasing 86% compared to the prior year. On a sequential basis, Record Lab net revenue increased by an impressive $2.7 million, representing growth of 26 percent. We expect this rapid growth to continue based on our robust pipeline of referrals, growing 31% compared to Q1.

Steve: On a sequential basis, Record Lab net revenue increased by an impressive $2.7 million, representing growth of 26 percent. These increases were driven by the average number of patients on RecorLib increasing 124% from last year and 25% compared to Q1.

Steve Pieper: On a sequential basis, Recurlev net revenue increased by an impressive $2.7 million representing growth of 26%. These increases were driven by the average number of patients on Recurlev, increasing 124% from last year and 25% compared to Q1. We expect this rapid growth to continue based on our robust pipeline of referrals, growing 31% compared to Q1. Our ability to convert these referrals into patients on Recurlev, as well as our field expansion, which we completed in early July.

Steve: On a sequential basis, Record Lab Net Revenue increased by an impressive $2.7 million, representing growth of 26%.

Steve: These increases were driven by the average number of patients on RecorLib increasing 124% from last year and 25% compared to Q1.

Steve Pieper: We expect this rapid growth to continue based on our robust pipeline of referrals, growing 31% compared to Q1. Our ability to convert these referrals into patients on Recurlev, as well as our field expansion, which we completed in early July. Chivo net revenue was $20 million for the quarter, representing a 28% increase compared to the same period last year. This growth was driven by a 27% increase in Chivo prescriptions. As we mentioned during our prior quarter remarks, the Change Healthcare cybersecurity breach temporarily impacted Chivo net revenue in the first quarter. Although we do not believe we recovered the loss revenue from the first quarter, growth in patient demand, which consistently exceeded 5,000 weekly prescriptions since May, as well as increased orders from our wholesalers, have signaled to us the impact has been resolved.

Steve: We expect this rapid growth to continue based on our robust pipeline of referrals, growing 31% compared to Q1, our ability to convert these referrals into patients on Recoralev, as well as our field expansion, which we completed in early July. GVOC net revenue was $20 million for the quarter, representing a 28% increase compared to the same period last year. This growth was driven by a 27% increase in GBOP prescriptions.

Steve: We expect this rapid growth to continue based on our robust pipeline of referrals, growing 31% compared to Q1.

Steve: our ability to convert these referrals into patients on Recoralev, as well as our field expansion, which we completed in early July .

Steve: GVOC net revenue was $20 million for the quarter, representing a 28% increase compared to the same period last year. Cost of goods sold as a percentage of total product revenue decreased by 4% for the quarter compared to the prior year. This decrease was primarily the result of an increase in Recorlev revenue. Research and development expenses were $5.8 million for the second quarter, consistent with my previous remarks.

Steve Pieper: Chivo net revenue was $20 million for the quarter, representing a 28% increase compared to the same period last year. This growth was driven by a 27% increase in Chivo prescriptions. As we mentioned during our prior quarter remarks, the Change Healthcare Cybersecurity Breach temporarily impacted Chivo net revenue in the first quarter. Although we do not believe we recovered the loss revenue from the first quarter, growth in patient demand, which consistently exceeded 5,000 weekly prescriptions since May, as well as increased orders from our wholesalers have signal to us the impact has been resolved.

Speaker Change: gvvoke net revenue was twenty million for the quarter representing a twenty-eight percent increase compared to the same period last year this growth was driven by twenty- seven percent increase in gvo prescriptions

Steve: As we mentioned during our prior quarter remarks, the changed healthcare cybersecurity breach temporarily impacted GVOC net revenue in the first quarter. Although we do not believe we recovered the lost revenue from the first quarter, growth in patient demand, which consistently exceeded 5000 weekly prescriptions since May, as well as increased orders from our wholesalers, have signaled to us the impact has been resolved. Cabeza's net revenue for the quarter and year to date was $13.1 million and $26.2 million, respectively. Despite generic competition, revenue only decreased slightly by 2% on a year-to-date basis. As we have repeatedly stated, Kiveyas is resilient, and we will continue to invest in and defend the brand.

Speaker Change: as we mentioned during our prior quarter remarks

Steve: the change health care cybersecurity breach temporarily impacted gevvo net revenue in the first quarter

Steve: Although we do not believe we recovered the lost revenue from the first quarter, growth in patient demand, which consistently exceeded 5,000 weekly prescriptions since May,

Steve: as well as increased orders from our wholesalers have signaled to us the impact has been resolved

Steve Pieper: Keveyes, that revenue for the quarter and year-to-date was 13.1 million and 26.2 million. Despite generic competition, revenue only decreased slightly by 2 percent on a year-to-date basis. As we have repeatedly stated, Keveyes is resilient, and we will continue to invest and defend the brand. Our commitment to this strategy is proven to be successful as we continue to generate a healthy pipeline of patient referrals.

Steve Pieper: Keveyes, that revenue for the quarter and year-to-date was 13.1 million and 26.2 million. Despite generic competition, revenue only decreased slightly by 2 percent on a year-to-date basis. As we have repeatedly stated, Keveyes is resilient and we will continue to invest and defend the brand. Our commitment to this strategy is proven to be successful as we continue to generate a healthy pipeline of patient referrals.

Speaker Change: caveus net revenue for the quarter and year-to-date was thirteen point one million and twenty six point two million

Speaker Change: Despite generic competition, revenue only decreased slightly by 2% on a year-to-date basis.

Speaker Change: As we have repeatedly stated, Cabeus is resilient, and we will continue to invest and defend the brand.

Steve: Our commitment to this strategy has proven to be successful as we continue to generate a healthy pipeline of patient referrals. Given the strong performance of all three of our products in the first half of the year and the momentum we are currently generating, we are confident in tightening our total revenue guidance by substantially raising the low end of the range to a revised guidance of $190 to $200 million from the previous guidance of $175 to $200 million. Moving down the P&L. Cost of goods sold as a percentage of total product revenue decreased by 4% for the quarter compared to the prior year.

Speaker Change: Our commitment to this strategy has proven to be successful as we continue to generate a healthy pipeline of patient referrals.

Steve Pieper: Given the strong performance of all three of our products in the first half of the year and the momentum we are currently generating, we are confident in tightening our total revenue guidance by substantially raising the low end of the range, with revised guidance of 190 to 200 million from the previous guidance of 175 to 200 million. Moving down the P&L, cost of goods sold is a percentage of total product revenue decreased by 4 percent for the quarter compared to the prior year. This decrease was primarily the results of an increase in level revenue, resulting in a product mix with lower costs.

Steve Pieper: Given the strong performance of all three of our products in the first half of the year and the momentum we are currently generating, we are confident in tightening our total revenue guidance by substantially raising the low end of the range with revised guidance of 190 to 200 million from the previous guidance of 175 to 200 million. Moving down the P&L, cost of goods sold is a percentage of total product revenue decreased by 4 percent for the quarter compared to the prior year.

Speaker Change: given the strong performance of all three of our products in the first half of the year

Speaker Change: and the momentum we are currently generating.

Speaker Change: We are confident in tightening our total revenue guidance by substantially raising the low end of the range with revised guidance of $190 to $200 million from the previous guidance of $175 to $200 million.

Steve: This decrease was primarily the result of an increase in Recorlev revenue, resulting in a product mix with lower cost. Research and development expenses were $5.8 million for the second quarter. These expenses were relatively flat compared to the second quarter of 2023, and were primarily comprised of costs for our pipeline, notably XP8121, and further development of our technology platform. Xeroxol and Xerojax.

Speaker Change: Moving down the P&L.

Steve: Cost of goods sold is a percentage of total product revenue decreased by 4% for the quarter compared to the prior year. This decrease was primarily the result of an increase in Recorlev revenue.

Steve Pieper: This decrease was primarily the results of an increase in level revenue resulting in a product mix with lower costs. Research and development expenses were 5.8 million for the second quarter. These expenses were relatively flat compared to the second quarter of 2023 and were primarily comprised of costs for our pipeline, notably a XP-8121 and further development of our technology platform, zero-sol and zero-ject. On a year-to-day basis, research and development expenses were 13.6 million, a 2.4 million dollar increase compared to prior year which was primarily a result of investments in our pipeline and increased employee costs to support zero-sol and zero-ject.

Speaker Change: resulting in a product mix with lower costs.

Steve Pieper: Research and development expenses were $5.8 million for the second quarter. These expenses were relatively flat compared to the second quarter of 2023 and were primarily comprised of costs for our pipeline, notably a XP-8121 and further development of our technology platform, Zero-sol and Zero-ject. On a year-to-day basis, research and development expenses were 13.6 million, a 2.4 million dollar increase compared to prior year, which was primarily a result of investments in our pipeline and increased employee costs to support zero-sol and zero-ject. Consistent with my previous remarks, we are focused on advancing our pipeline and supporting our zero-sol and zero-ject technology platform, which will result in an increase in R&D costs this year compared to 2023.

Speaker Change: Research and development expenses were $5.8 million for the second quarter.

Speaker Change: These expenses were relatively flat compared to the second quarter of 2023, and were primarily comprised of costs for our pipeline, notably XP8121, and further development of our technology platform.

Steve: On a year-to-date basis, research and development expenses were $13.6 million, a $2.4 million increase compared to the prior year, which was primarily a result of investments in our pipeline and increased employee costs to support Xerosol and XeroJack, consistent with my previous remarks. We are focused on advancing our pipeline and supporting our Xerisol and Xerijec technology platform, which will result in an We expect a modest increase in R&D spending relative to the first half.

Speaker Change: XeroSol and XeroJect.

Speaker Change: on a year-to-date basis research and development expenses were thirteen point six million a two point four million dollar increase compared to prior year

Speaker Change: which was primarily a result of of investments in our pipeline and increased employee costs to support zerool and zaroact

Steve Pieper: Consistent with my previous remarks, we are focused on advancing our pipeline and supporting our zero-sol and zero-ject technology platform which will result in an increase in R&D costs this year compared to 2023. We expect a modest increase in R&D spend relative to the first half. Selling general and administrative expenses were 40 million for the quarter and 78.4 million for the year, an increase of 6% and 10% compared to prior year. These increases were driven by higher personnel costs, primarily due to our field expansion in the fourth quarter of last year.

Speaker Change: Consistent with my previous remarks.

Speaker Change: We are focused on advancing our pipeline and supporting our Xerisol and Xerijec technology platform, which will result in an increase in R&D costs this year compared to 2023. We expect a modest increase in R&D spend relative to the first half.

Steve Pieper: We expect a modest increase in R&D spend relative to the first half. Selling, general and administrative expenses were 40 million for the quarter and 78.4 million for the year, an increase of 6% and 10% compared to prior year. These increases were driven by higher personnel costs, primarily due to our field expansion in the fourth quarter of last year. Looking ahead for the full year, we expect a modest increase in second half expenses relative to the first half as we have made investments that are focused on supporting our revenue growth. Moving to cash, we ended the quarter in a healthy cash position of 77.6 million.

Steve: Selling general and administrative expenses were $40 million for the quarter and $78.4 million for the year, an increase of 6% and 10% compared to the prior year. These increases were driven by higher personnel costs, primarily due to our field expansion in the fourth quarter of last year. Looking ahead for the full year, we expect a modest increase in second half expenses relative to the first half, as we have made investments that are focused on supporting our revenue growth.

Speaker Change: Selling general and administrative expenses were $40 million for the quarter and $78.4 million for the year, an increase of 6% and 10% compared to prior year.

Speaker Change: These increases were driven by higher personnel costs.

Speaker Change: primarily due to our field expansion in the fourth quarter of last year.

Steve Pieper: Looking ahead for the full year, we expect a modest increase in second half expenses relative to the first half as we have made investments that are focused on supporting our revenue growth. Moving to cash, we ended the quarter in a healthy cash position of 77.6 million.

Speaker Change: looking ahead for the full year we expect a modestto increase in second half expenses relative to the first half as we have made investments that are focused on supporting our revenue growth

Steve: Moving to cash, we ended the quarter in a healthy cash position of $77.6 million. Looking ahead to our year-end, we are tightening our cash guidance to $60 to $75 million from the original $55 to $75 million, which considers our revised revenue guidance as well as the additional investments we have made in the Recorla business. We are able to make these investments as a result of continued strong revenue growth. We are seeing great momentum across our business, which is translating to consistent and meaningful revenue growth and driving the financial health of our enterprise. With that, Operator, please open the line for questions.

Speaker Change: Moving to cash, we ended the quarter in a healthy cash position of $77.6 million.

Steve Pieper: Looking ahead to our year end, we are tightening our cash guidance to 60 to 75 million from the original 55 to 75 million, which considers our revised revenue guidance as well as the additional investments we have made in the core lab business. We are able to make these investments as a result of continued strong revenue growth. We are seeing great momentum across our business, which is translating to consistent and meaningful revenue growth and driving the financial health of our enterprise.

Steve Pieper: Looking ahead to our year end, we are tightening our cash guidance to 60 to 75 million from the original 55 to 75 million which considers our revised revenue guidance as well as the additional investments we have made in the core lab business. We are able to make these investments as a result of continued strong revenue growth. We are seeing great momentum across our business which is translating to consistent and meaningful revenue growth and driving the financial health of our enterprise.

Speaker Change: Looking ahead to our year-end, we are tightening our cash guidance to $60 to $75 million.

Speaker Change: from the original $55 to $75 million, which considers our revised revenue guidance as well as the additional investments we have made in the Recorla business.

Speaker Change: We are able to make these investments as a result of continued strong revenue growth.

Speaker Change: We are seeing great momentum across our business.

Speaker Change: which is translating to consistent and meaningful revenue growth and driving the financial health of our enterprise.

Operator: With that, operator, please open the line for questions. Thank you. We will now start today's Q&A session. If you would like to ask a question, please press star full of I1 on your telephone keypad. If you wish to withdraw your question, it's star full of I2.

Operator: With that, operator, please open the line for questions. Thank you.

Speaker Change: With that, Operator, please open the line for questions.

Operator: Thank you. We will now start today's Q&A session. If you would like to ask a question, please press star followed by one on your telephone keypad. If you wish to withdraw your question, it's star followed by two. Our first question today comes from Roanna Ruiz from Learink Partners. Your line is now open, please go ahead.

Operator: We will now start today's Q&A session.

Speaker Change: thank you we will now start today's q anda session if you would like to ask your question please breress stf followll y one on your telephone key pad if you wish to withdraw your question it staff for awayi two our first quest today comes from a one every is from leerring partners your line is now open please go ahead

Operator: If you would like to ask a question, please press star full of I1 on your telephone keypad. If you wish to withdraw your question, it's star full of I2.

Roanna Ruiz: Our first question today comes from Roanna Ruiz from Lee Rink Partners. Your line is now open. Please go ahead.

Roanna Ruiz: Our first question today comes from Roanna Ruiz from Lee Rink Partners. Your line is now open. Please go ahead. Great. Good morning, everyone.

Operator: Great.

Roanna Ruiz: Great. Good morning, everyone. So I have a question for Rekora first.

Rohan Mathur: Good morning, everyone. So, I have a question for Recoral of First. Seems like the new patient starts are growing well in the quarter. How do you think that will trend into the second half of this year? And I'm also curious, with a newly expanded field force, could that continue to be a tailwind later this year and possibly into 2025?

John Shannon: So, I have a question for Recoral of First. Seems like the new patient starts are growing well in the quarter. How do you think that will trend into the second half this year? And I'm also curious, with a newly expanded field force, could that continue to be a tailwind later this year and possibly into 2025?

Speaker Change: yeah

Evercore ISI: Great, good morning everyone. So I have a question for Rekora first. Seems like the new patient starts are growing well in the quarter. How do you think that will trend into the second half this year? And I'm also curious with the newly expanded field force, could that continue to be a tailwind later this year and possibly into 2025?

John Shannon: Seems like the new patient starts are growing well in the quarter. How do you think that will trend into the second half of this year? And I'm also curious about the newly expanded field force. Could that continue to be a tailwind later this year and possibly into 2025?

John Shannon: Hey, Rohan, it's John. Yes, I mean, as I said, it's accelerating. We're growing the new starts and new referrals. We see that are continuing to accelerate in Q3, and we see that through the end of the year. And we just put the new sales force out in the additional sales reps out into the field in the last couple of weeks. And they'll start contributing, contributing early later this year and early next year. Got it, helpful.

John Shannon: Hey, Rohan, it's John. Yes, I mean, as I said, it's accelerating. We're growing the new starts and new referrals. We see that are continuing to accelerate in Q3 and we see that through the end of the year. And we just put the new sales force out in the additional sales reps out into the field in the last couple of weeks. And they'll start contributing, contributing early later this year and early next year. Got it, helpful.

Speaker Change: Hey, Roanna, it's John .

John Shannon: Hey, Roanna, it's John. Yes, I mean, we, as I said, it's accelerating, we're, we're growing new starts and new referrals. We see that we're continuing to accelerate in Q3, and we'll see that through the end of the year, and we just put the new sales force out in the additional sales reps out into the field in the last couple of weeks, and they'll start contributing early later this year and early next.

Roanna: Yes, I mean, we, as I said, we're, it's accelerating. We're, we're growing the new starts and new referrals. We see that our

Roanna: continuing to accelerate in Q3 and we you know see that through the end of the year and we just put the new sales force on out in the in the additional sales reps out into the field in the last couple of weeks and and they'll start contributing contributing

Roanna: early later this year and early next year

Unnamed Questioner: Got it. Helpful. And for GVOC, I also was curious, would you consider focusing the field for us a bit more on driving back to school prescribing for GVOC to sort of maximize that going into later this year? And can you just remind us, you know, what are the GVOC reps doing today in terms of tackling some of these prescribers versus other prescribers for adults, etc.?

John Shannon: Got it, helpful. And for GVOC, I also was curious, would you consider focusing the field for us a bit more on driving back to school prescribing for GVOC to sort of maximize that going into later this year? And can you just remind us, you know, what are the GVOC reps doing today in terms of tackling some of these prescribers versus other prescribers for adults, etc.? Yeah, so as you

John Shannon: And for G-Voke, I also was curious, would you consider focusing the field force a bit more on driving back to school, prescribing for a G-Voke to sort of maximize that going into later this year? And could you just remind us, you know, what are the G-Voke reps doing today in terms of tackling some of these prescribers versus other prescribers for adults, et cetera? Yeah, so as you pointed out, the third quarter back to school starts kicking in and like this week and next week. And as always, we will focus in that area, you know, for that time period, which is primarily pediatric and.

Speaker Change: Got it. Helpful. And for GVOC, I also was curious, would you consider focusing the field for us a bit more on driving back to school, prescribing for a GVOC to sort of maximize that going into later this year? And can you just remind us, you know, what are the GVOC reps doing today in terms of tackling some of these prescribers versus other prescribers for adults, etc.?

John Shannon: Yeah, so as you pointed out, the third quarter back to school starts kicking in this week and next week. And, and as always, we will focus on that area. And, you know, for that time period, which is primarily pediatric endo, and as we have shown and you guys understand, is, is, is vaccine. He has a pretty strong hold on that space, only because they launched right into it several years ago.

John Shannon: Yeah, so as you pointed out, shown, and you guys understand is that this is a vaccine.

Speaker Change: Yeah, so, as you pointed out...

Speaker Change: The third quarter back to school starts kicking in like this week and next week.

John Shannon: And as always, we will focus in that area, you know, for that time period, which is primarily pediatric and. And as we've, you know, shown and you guys understand is, is, is vaccine me has a pretty stronghold on that space, only because they launched right into it several years ago. So from our perspective, we, you know, we hold on and continue to grow during this time frame. It's our biggest growth quarter every year and it'll be that way this year. But we also then focus on how do we bring every day, how do we bring more of the 14 million people that are not protected today on G-Voke? Got it. Thanks.

Speaker Change: And, as always, we will focus in that area, you know, for that time period, which is primarily pediatric endo. And as we...

John Shannon: And as we've, you know, shown and you guys understand, is, is, is vaccine me has a pretty stronghold on that space, only because they launched right into it several years ago. So from our perspective, we, you know, we hold on and continue to grow during this time frame. It's our biggest growth quarter every year, and it'll be that way this year. But we also then focus on how do we bring every day, how do we bring more of the 14 million people that are not protected today on G-Voke? Got it. Thanks.

Speaker Change: You know, shown, and you guys understand, is Vaximi has a pretty strong hold on that space, only because they launched right into it several years ago.

John Shannon: So, from our perspective, we hold on and continue to grow during this timeframe. It's our biggest growth quarter every year, and it'll be that way this year. But we also focus on how do we bring value every day? How do we bring more of the 14M people that are not protected today on Jimbo?

John Shannon: He has a pretty strong hold on that space only because they launched right into it several years ago. So, from our perspective, we, you know, we hold on and continue to grow during this timeframe. It's our biggest growth quarter every year, and it'll be that way again this year. But we also focus on how do we bring value every day? How do we bring more of the 14 million people that are not protected today on Jibo?

Speaker Change: So from our perspective, we, you know, we hold on and continue to grow during this timeframe. It's our biggest growth quarter every year, and it'll be that way this year. But we also then focus on how do we bring

Speaker Change: every day how do we bring more of the fourteen million people that are not protected today on genvo

Speaker Change: got it thanks

David Amsellem: Our next question comes from David and smell them from Hypersandler. Your line is now open. Please go ahead.

Operator: Our next question comes from David Amsellem from Hypersonla. Your line is now open, please go ahead.

David Amsellem: Our next question comes from David and smell them from Hypersandler. Your line is now open. Please go ahead. Hi, thank you. This is Gaila Ronk for David. First, on Recurlev, can you talk about your long-term expectations in the context of the recent catalyst data from Corcept, which showed that 24% of patients were difficult to treat type 2 diabetes in the study actually had Cushing Syndrome, which might indicate that the true prevalence is higher than previously understood.

Speaker Change: Our next question comes from David Ansmellem from Hypersanla. Your line is now open, please go ahead.

Operator: Hi, thank you. This is Gaila Ronk for David.

Operator: Hi, thank you. This is Skylar on behalf of David.

Glen Santangelo: First, on Recurlev, can you talk about your long-term expectations in the context of the recent catalyst data from Corcept, which showed that 24% of patients with difficult-to-treat type 2 diabetes in the study actually had Cushing syndrome, which might indicate that the true prevalence is higher than previously understood. And then separately, how are you thinking about G-boat growth over the remainder of the second half of the year? And touching on last question, just the degree of seasonality we should expect with the back to school season, just we could better think about the phasing of revenue. Thank you.

Speaker Change: Hi, thank you, this is Skylar on for David. First, on RecorLiv, can you talk about your long-term expectations in the context of

Speaker Change: of the recent catalyst data from course cept which of the twenty-four percent of patients was difficult to treat type two diabetes

Speaker Change: in the study actually had Cushing syndrome, which might indicate that the true prevalence is higher than previously understood.

David Amsellem: And then separately, how are you thinking about G-boat growth over the remainder of the second half of the year? And touching on last question, just the degree of seasonality we should expect with the back to school season, just we could better think about the phasing of revenue. Thank you.

Speaker Change: And then separately, how are you thinking about G-Vote growth over the remainder of the second half of the year? And touching on the last question, just the degree of seasonality we should expect with the back-to-school season, just so we can better think about the phasing of revenue. Thank you.

Skylar: First, on RecorLiv, can you talk about your long-term expectations in the context of the recent catalyst data from CORCEPT, which showed that 24% of patients with difficult-to-treat type 2 diabetes in the study actually had Cushing syndrome, which might indicate that the true prevalence is higher than previously understood? And then separately, how are you thinking about GBO growth over the remainder of the second half of the year? And touching on the last question, just the degree of seasonality we should expect with the back-to-school season, just so we can better think about the phasing of revenue. Thank you.

John Shannon: Okay, let me start with Recurlev. And I think you're pointing out part of what I had in my prepared remarks is that more and more patients are being tested and screened for high cortisol levels, which is, you know, ideal for the marketplace. And ideal for our product because Recurlev normalizes cortisol. So, you know, so it fits right in for, you know, why some of the accelerate, we're seeing some of the acceleration in our growth, and how our product fits into what's going on in that space. For G-boat, you know, we expect, you know, to continue to grow and drive kind of more and more people who aren't protected to, you know, prescribe and or get G-boat just in case.

Speaker Change: Okay, let me start with Rikorla, and I think you're pointing out part of what I had in my prepared remarks is that more and more patients

John Shannon: Okay, let me start with ReCoralib. And I think you're pointing out part of what I had in my prepared remarks is that more and more patients are being tested and screened for high cortisol levels, which is, you know, ideal for the marketplace and ideal for our product because Recor Lev, Corelev normalizes cortisol. So, you know, it fits right in for why some of the acceleration we're seeing in our growth and how our product fits into what's going on in that space.

John Shannon: are being

Speaker Change: tested and screened for high cortisol levels.

John Shannon: which is ideal for the marketplace and ideal for our product because

John Shannon: RecorLav

Speaker Change: Ricorlev normalizes cortisol, so it fits right in for why we're seeing some of the acceleration in our growth and how our product fits into what's going on in that space.

John Shannon: So, you know, so it fits right in for, you know, why some of the accelerate, we're seeing some of the acceleration in our growth, and how our product fits into what's going on in that space. For G-boat, you know, we expect, you know, to continue to grow and drive kind of more and more people who aren't protected to, you know, prescribe and or get G-boat just in case. Okay, that will continue strongly through the third quarter, which is always our strongest quarter, and then into the fourth quarter as well. So, we look to see, you know, this steady, continuous growth that we've been, you know, pounding out the last several quarters to continue on G-boat.

John Shannon: For GEVO... You know, we expect it to continue to grow and drive kind of more and more people who aren't protected to, you know, prescribe and or get GVOKE just in case. Okay, that will continue strongly through the third quarter, which is always our strongest quarter. And then into the fourth quarter as well. So we look to see this steady, continuous growth that we've been, you know, pounding out the last several quarters to continue on GEVO. Yeah, maybe just to, this is Steve Schuyler, just to get a little more specific on Jeeva.

Speaker Change: For GVOAT...

Speaker Change: You know, we expect, you know, to continue to grow and drive kind of more and more people who aren't protected to, you know, prescribe and or get

Steve Pieper: Okay, that will continue strongly through the third quarter, which is always our strongest quarter, and then into the fourth quarter as well. So, we look to see, you know, this steady, continuous growth that we've been, you know, pounding out the last several quarters to continue on G-boat.

John Shannon: are being tested and screened for high cortisol levels, which is ideal for our product because Okay, that will continue strongly through the third quarter, which is always our strongest quarter. And then into the fourth quarter as well. So we look to see this steady, continuous growth that we've been pounding out the last several quarters to continue on GEVO.

Speaker Change: G-Voke, just in case.

Speaker Change: okay that will continue strongly through the third quarter which is always our strong this quarter and then into the fourth quarter as well so we look to see this steady continuous

Speaker Change: growth that we've been pounding out the last several quarters to continue on gevo

Steve: Yeah, maybe just to, this is Steve Schuyler, just to get a little more specific on G-Voke. I think historically we've seen, you know, in the back half of the year, 20% growth, and we've enjoyed that through the first half of the year, so I would expect that trend to continue with probably a little bit more dramatic growth in the third quarter. But I think that's kind of where I would peg things for the second half of the year.

Steve Pieper: Yeah, maybe just this is Steve Skyler just to get a little more specific on G-boat. I think historically we've seen, you know, in the back half of the year, 20% growth. And we've enjoyed that through the first half of the year, so I would expect that trend to continue with probably a little bit more dramatic growth in the third quarter. But I think that that's kind of where I would peg things for the second half of the year.

Steve Schuyler: Yeah, maybe just to, this is Steve Schuyler, just to get a little more specific on GVO. I think historically we've seen, you know, in the back half of the year, 20% growth. And we've enjoyed that through the first half of the year, so I would expect that trend to continue.

Speaker Change: with probably a little bit more dramatic growth in the third quarter. But I think that's kind of where I would peg things for the second half of the year.

Operator: of the year.

Speaker Change: Thank you, guys.

Chase Knickerbocker: Next question comes from Chase Nicobocka from Craig Hallen. Your line is now open. Please go ahead.

Operator: Our next question comes from Chase Knickerbocker on behalf of Craig Hallam. Your line is now open, please go ahead.

Chase Knickerbocker: Next question comes from Chase Nicobocka from Craig Hallen. Your line is now open. Please go ahead.

Speaker Change: Our next question comes from Chase Knickerbocker from Craig Hallam. Your line is now open, please go ahead.

Unnamed Questioner: Good morning. Thanks for taking the questions. And first of all, John, congrats on the new role. Looking forward to watching you perform here.

Chase Knickerbocker: Good morning. Thanks for taking the questions. First of all, John, congrats on the new role. Looking forward to watching you execute here. First, just on housekeeping on GVOC, revenue, and net sales grew a little bit more than prescriptions in the year, year over year. Is that some stocking dynamics, or is there a little bit of a pricing benefit year over year?

Operator: Good morning. Thanks for taking the questions. And first of all, John, congrats on the new role.

Chase Knickerbocker: Good morning. Thanks for taking the questions. And first of all, John, congrats on the new role. Looking forward to Washington execute here.

Speaker Change: Good morning. Thanks for taking the questions. First of all, John , congrats on the new role. Looking forward to watching you execute here.

Chase Knickerbocker: Looking forward to Washington execute here. First, just on housekeeping on G-boat. Revenue net sales grew a little bit more than prescriptions in the year of a year. Is that some stocking dynamics, or is there a little bit of pricing benefit year of a year? Just click there.

Steve Pieper: First, just on housekeeping on G-boat. Revenue net sales grew a little bit more than prescriptions in the year of a year. Is that some stocking dynamics, or is there a little bit of pricing benefit year of a year? Just click there. Yeah, I'd chase this is Steve. I would say it's probably just a little bit of stocking, maybe a little bit of price, but not nothing materials.

Chase Knickerbocker: First, just on housekeeping on GVOC, revenue, net sales grew a little bit more than prescriptions in the year, year over year. Is that some stocking dynamics or is there a little bit of pricing benefit year over year?

John Shannon: Yeah, I'd chase this is Steve. I would say it's probably just a little bit of stocking, maybe a little bit of price, but not nothing materials. Got it, thanks. And maybe so far through the first half of the year, you know, at least in our data we've seen, you know, some pretty nice share gains relative to competitors. Can you just speak to kind of what you've seen in your data, kind of the first half of the year on new RX trends here with you're ready to use competitors with G-Book? Yeah, I think we see the same thing you do: is, yes, we're gaining share, but we're gaining that share primarily by, you know, market growth and capturing an ordinary amount of the market growth directly to G-Vo.

Steve: Yeah, Chase, this is Steve. I would say it's probably just a little bit of stocking. Maybe a little bit of price, but not nothing material.

Speaker Change: Yeah, Chase, this is Steve. I would say it's probably just a little bit of stocking, maybe a little bit of price, but nothing material.

John Shannon: Got it. Thanks. And maybe so far through the first half of the year, you know, at least in our data, we've seen, you know, some pretty nice share gains relative to competitors. Can you just speak to kind of what you've seen in your data for the first half of the year on new Rx trends here with your ready-to-use competitors with Jivo?

John Shannon: Got it, thanks. And maybe so far through the first half of the year, you know, at least in our data we've seen, you know, some pretty nice share gains relative to competitors. Can you just speak to kind of what you've seen in your data, kind of the first half of the year on new RX trends here with you're ready to use competitors with G-Book? Yeah, I think we see the same thing you do is, yes, we're gaining share, but we're gaining that share primarily by, you know, market growth and capturing in an ordinary amount of the market growth directly to G-Vo.

Chase Knickerbocker: Got it, thanks.

Speaker Change: So far through the first half of the year, at least in our data, we've seen some pretty nice share gains relative to competitors. Can you just speak to what you've seen in your data in the first half of the year on new Rx trends here with your ready-to-use competitors with Gbook?

John Shannon: Yeah, I think we see the same thing you do, that is, yes, we're gaining share. But we're gaining that share primarily by, you know, market growth and capturing an inordinate amount of that market growth directly to GEVO. So, we're not out there directly getting it from existing Veximi patients. We're getting it from the market growth that's out there and the market growth that we're driving, and we think that trend will continue.

Speaker Change: Yeah, I think we see the same thing you do is yeah, yes, we're gaining share, but we're gaining that share primarily by

John Shannon: You know, market growth and capturing an inordinate amount of the market growth directly to GEVO and the market growth that we're driving. So, and we think that trend will continue.

John Shannon: market growth and capturing in an ordin amount of the market growth directly to geevvo

John Shannon: So we're not out, we're not out there directly getting it from existing vaccine patients; we're getting it from the market growth that's out there and the market growth that we're driving. So, and we think that trend will continue. Yeah, and so kind of thinking about that through the remainder of the year and, you know, into next with kind of you guys taking a majority of new patient starts from here, maybe that is a little bit different in Q3, but you would expect that to kind of remain the case outside of maybe that back to school seasonality.

John Shannon: So we're not out, we're not out there directly getting it from existing vaccine patients, we're getting it from the market growth that's out there and the market growth that we're driving. So, and we think that trend will continue. Yeah, and so kind of thinking about that through the remainder of the year and, you know, into next with kind of you guys taking a majority of new patients starts from here, maybe that is a little bit different in Q3, but you would expect that to kind of remain the case outside of maybe that back to school seasonality.

Speaker Change: So, we're not out there directly getting it from existing vaccine patients, we're getting it from the market growth that's out there, and the market growth that we're driving. So, and we think that trend will continue.

John Shannon: Yeah, so, kind of thinking about that through the remainder of the year and, you know, into next, with kind of you guys taking a majority of new patient starts from here. Maybe that's a little bit different in Q3, but you would expect that to kind of remain the case outside of maybe that back-to-school seasonality.

Speaker Change: Yeah, so kind of thinking about that through the remainder of the year and you know into next

Speaker Change: With kind of you guys taking a majority of new patient starts from here, maybe that is a little bit different in Q3, but you would expect that to kind of remain the case outside of maybe that back-to-school seasonality?

John Shannon: Yeah, if you went back and just map this out over the last couple of years, you see that we have share gains pretty consistent every quarter, and then we get to the third quarter and it kind of flat and zowed in terms of increases, and then it picks up again in Q4. That trend will probably continue this quarter. Got it.

John Shannon: Yeah, if you go back and just map this out, over the last couple of years, you see that we have share gains pretty consistent every quarter. And then we get to the third quarter, and it kind of flattens out in terms of increases. And then it picks up again in Q4. That trend will probably continue this quarter.

John Shannon: Yeah, if you went back and just map this out over the last couple of years, you see that we have share gains pretty consistent every quarter, and then we get to the, we get to the third quarter and it kind of flat and zowed in terms of increases and then it picks up again in Q4. That trend will probably continue this this quarter.

Speaker Change: Yeah, if you went back and just mapped this out over the last couple years, you see that we have share gains pretty consistent every quarter, and then we get to the third quarter and it kind of flattens out in terms of increases, and then it picks up again in Q4.

John Shannon: Got it.

John Shannon: That trend will probably continue this quarter.

John Shannon: Got it. And then just on Recorlip, I mean, just kind of taking a step back and looking at the market as a whole, can you help me kind of parse through what is maybe just some increased diagnosis cushions here versus, you know, you guys, making competitive gains from some that have failed other therapies, maybe just doing better there? And then I might have missed this. Sorry, I'm jumping around. But just speak to the pipeline as far as kind of sequential growth there and how that kind of informs your guys' confidence in the back half of the year. Thanks.

John Shannon: And then just on record level, I mean, just kind of taking a step back and looking at the market as a whole. Can you help me kind of parse through what is maybe just some increased diagnosis cushions here versus, you know, you guys, you know, making competitive gains from some that have failed other therapies, maybe just doing better there. And then I might have missed this or I'm jumping around, but just speak to the pipeline as far as kind of sequential growth there and how that kind of informs your guys' confidence in the back after your thanks.

Speaker Change: Got it. And then just on record left, I mean, just kind of taking a step back and looking at the market as a whole.

Speaker Change: um can you help me kind of pass through what is maybe just some increased

Speaker Change: Diagnosis of Cushions here versus

Speaker Change: you guys making competitive gains from some that have failed other therapies, maybe just doing better there. And then, I might have missed this, sorry, I'm jumping around, but just speak to the pipeline as far as kind of sequential growth there and how that kind of informs your guys' confidence in the back of the year. Thanks.

John Shannon: And then I might have missed this or I'm jumping around, but just speak to the pipeline as far as kind of sequential growth there and how that kind of informs your guys is confidence in the back after your thanks. Let me try to answer your recoil up question. There's because there's a couple dynamics there. There's more and more people being tested and more and more people being diagnosed. And with high elevated cortisol and again, we normalize cortisol.

John Shannon: Let me try to answer your recoil up question. There's because there's a couple dynamics there. There's more and more people being tested, and more and more people being diagnosed. And with high elevated cortisol, and again, we normalize cortisol. There's also a level of complexity in terms of treating this, and there's no perfect product for anybody. So there's some bouncing around between therapies, and we benefit from that. So we're picking up patients from, you know, new starts to, you know, people that have switched to people that have tried other things and now are moving over. So there's all kinds of people are coming from all places in terms of new starts.

John Shannon: Let me try to answer your recall of question. It's because there's a couple dynamics there. There are more and more people being tested and more and more people being diagnosed with high, you know, elevated cortisol. And again, we normalize cortisol. There's also a level of complexity in terms of treating this, and there's no perfect product for anybody. So there's some bouncing around between treatments, and we benefit from that. So we're picking up patients from new start, to people that have switched, to people that have tried other things and now are moving over.

Speaker Change: let me try to answer your recorcord up question there's there's a couple of dynamics there there's more and more people being tested and more and more people being diagnosed and

John Shannon: with high, you know, elevated cortisol, and again, we normalize cortisol. So there's some bouncing around between therapies, and we benefit from that. So we're picking up patients from new starts to people that have switched to people that have tried other things and now are moving over. So people are coming from all places in terms of new starts.

John Shannon: with high, you know, elevated cortisol. And again, we normalize cortisol.

John Shannon: There's also a level of complexity in terms of treating this and there's no perfect product for anybody. So there's some bouncing around between therapies and we benefit from that. So we're picking up patients from, you know, new starts to, you know, people that have switched to people that have tried other things and now are moving over. So there's all kind of people are coming from all places in terms of new starts.

John Shannon: There's also a level of complexity in terms of treating this and, and there's, there's no perfect product for anybody.

John Shannon: so s there's some bouncing around between therapy

John Shannon: And, you know, we benefit from that. So we're picking up patients from, you know, new starts to, you know, people that have switched to people that have tried other things and now are moving over. So there's all kinds – people are coming from all places in terms of new starts.

John Shannon: So people are coming from all places in terms of new starts. And I don't know that I understood your last question about the pipeline. Are you referring to the Recorlov pipeline? Yeah, it's stronger than ever. And it continues to build for us, and like I said, people are coming from all places.

John Shannon: And I don't know that I understood your last question about the pipeline. Are you? It's of the pipeline patients for record left. Yeah, for the record left pipeline. Yeah. Yeah, it's stronger than ever. And it continues to build for us. And like I said, it's coming from all places.

Unnamed Questioner: And I don't know that I understood your last question, about the pipeline. Are you referring to the ReCorLav pipeline? Just on the pipeline of patients for ReCorLav, yeah, for the ReCorLav pipeline, yeah. Yeah, it's stronger than ever.

Unnamed Questioner: And I don't know that I understood your last question.

Unnamed Questioner: about the pipeline. Are you referring to the... Just on the pipeline of patients for RICOR-Liv. The, yeah, for the RICOR-Liv pipeline. Yep.

Unnamed Questioner: Yeah, it's stronger than ever.

Unnamed Questioner: And it continues to build for us, and like I said, it's coming from all places.

John Shannon: And then just last day on conveys, would you expect kind of a consistent kind of treatment from pairs kind of through the remainder of the year and you know that kind of informs some of the confidence here and then when was you know you could typically think kind of Q1 for potential pair changes that would kind of be the next time where there would you know be something that we should think about from an investor perspective. Yeah, I would think about Q1 as you pointed out. That's when you know kind of new there's all kinds of recess going on there.

John Shannon: And then just lastly on Cabeus, would you expect kind of a consistent kind of treatment from payers kind of through the remainder of the year? And that kind of informs some of the confidence here. And then when was, we typically think about Q1 for potential payer changes. That would kind of be the next time where there would be something that we should think about from an investor perspective.

John Shannon: And then just last day on conveys, would you expect kind of a consistent kind of treatment from pairs kind of through the remainder of the year and you know that kind of informs some of the confidence here and then when was you know you could typically think kind of Q1 for potential pair changes that would kind of be the next time where there would you know be something that we should think about from an investor perspective. Yeah, I would think about Q1 as you pointed out that's when you know kind of new there's all kinds of recess going on there.

Speaker Change: And then just lastly on Cabeus, would you expect kind of a...

Unnamed Questioner: A consistent kind of treatment from payers kind of through the remainder of the year. And that kind of informs some of the confidence here. And then when was, we typically think of Q1 for potential payer changes. That would kind of be the next time where there would be something that we should think about from an investor perspective.

Unnamed Questioner: a consistent kind of treatment from payers kind of through the remainder of the year.

Unnamed Questioner: and you know that kind of informed some of the comfidence here and then when was to be typically kind of q one for potential payer changes that would kind of be the next time where they would you know be something that that we should think about from an investor perspective

John Shannon: Yeah, I would think about Q1, as you pointed out, that's when you know, kind of new, there's all kinds of resets going on there. What we saw in Q2 and what we're seeing in Q3 is that we're adding new patients at a very, very strong pace. And, and, and, as I said in my open, in my prepared remark, We were basically even in Q2 to Q1 in terms of patients, and we see that trend continuing for the rest of the year.

John Shannon: Yeah, I would think about Q1, as you pointed out. That's when there are all kinds of resets going on there. What we saw in Q2 and what we're seeing in Q3 is we're adding new patients at a very, very strong pace. And as I said in my prepared remarks, we were basically even in Q2 to Q1 in terms of patients, and we see that trend continuing for the rest of the year.

John Shannon: Yeah, I would think about Q1, as you pointed out, that's when...

John Shannon: You know kind of

John Shannon: there's all kinds of resets going on there what we saw on q two and what we're seeing in q three is is we're adding new patients at at a very very strong pace

Chase Knickerbocker: What we saw in Q2 and what we're seeing in Q3 is we're adding new patients at a very, very strong pace, and as I said in my open and my prepared remarks, they were we were basically even Q2 to Q1 in terms of patients, and we see that trend continuing for the rest of the year. Thanks for the questions, guys. Congrats on a really nice quarter.

John Shannon: What we saw in Q2 and what we're seeing in Q3 is we're adding new patients at a very, very strong pace and as I said in my open and my prepared remarks they were we were basically even Q2 to Q1 in terms of patients and we see that trend continuing for the rest of the year.

John Shannon: And as I said in my prepared remarks,

John Shannon: We were basically even Q2 to Q1 in terms of patients. And we see that trend continuing for the rest of the year.

Operator: Thanks for the questions, guys, and congrats on a really nice quarter.

Chase Knickerbocker: Thanks for the questions, guys, and congrats on a really nice quarter.

Chase Knickerbocker: Thanks for the questions guys. Congrats on a really nice quarter. Thanks, Chase.

Operator: Thanks for the questions guys. Congrats on a really nice quarter.

Operator: Thanks, Chase.

Rowan Matha: We will now take our final question from Rowan Matha from Oppenheimer. Your line is not wasted.

Operator: We will now take our final question from Rowan Mather from Oppenheimer. Your line is now open. Please go ahead.

Rowan Matha: We will now take our final question from Rowan Matha from Oppenheimer. Your line is not wasted.

Speaker Change: We will now take our final question from Rowan Mather from Oppenheimer. Your line is now open, please go ahead.

Operator: Please go ahead. Hi, this is Rowan. I'm for the English show. Congratulations on another strong quarter.

John Shannon: Please go ahead. Hi, this is Rowan, I'm for the English show. Congratulations on another strong quarter. Just a couple for me on the core left. Can you give some detail on how the pair reception and coverage has been in the last quarter and how it's changed over time? This is on Kasey's. Any granularity you could provide on the sardiness of the business and how you think about how resilient the franchise might be in the coming years.

Roanna: Hi, this is Roanna. I'm Felia Engershowe. Congratulations on another strong quarter. Just a couple for me. On the core left, can you give some detail on how peer reception and coverage has been in the last quarter and how it's changed over time? And this is on Qaziz. Any granularity you could provide on the sturdiness of the business and how you think about how resilient the franchise might be in the coming years? Thank you. Okay, so...

Rohan: Hi, this is Rohan from The Anchor Show. Congratulations on another strong quarter. Just a couple of questions for me. On the core lift, can you give some detail on how the payor reception and coverage has been in the last quarter and how it's changed over time? And how resilient the franchise might be in the coming years. Thank you.

Speaker Change: is ro on for the anger show congratulations on another strong quarter just a couple for me on therecord thatts can you give some detail on how the pay of reception and coverage has been in the last quarter and how it change over time and

Rowan Matha: Just a couple for me on the core left. Can you give some detail on how the pair reception and coverage has been in the last quarter and how it's changed over time? This is on Kasey's.

John Shannon: Any granularity you could provide on the sardiness of the business and how you think about how resilient the franchise might be in the coming years. Thank you. Okay, so let me talk about payer coverage with Recoral Love and I, you know, it's really not changed. What happens is you get spend more and more time in these spaces with these, you know, rare brands, is you get better at better at moving patients from a referral through the payer process and you do it faster and you do it more efficiently. And I think that's what's also leading to when you have a really strong referral.

Rohan: This is on Caseus. Any granularity you could provide on the sturdiness of the business and how you think about how resilient the franchise might be in the coming years? Thank you.

John Shannon: Okay, so let me talk about payer coverage with Recor11. And I, you know, it's really not changed.

John Shannon: Thank you. Okay, so let me talk about payer coverage with Recoral Love and I, you know, it's really not changed. What happens is you get spend more and more time in these spaces with these, you know, rare brands is you get better at better at moving patients from a referral through the payer process and you do it faster and you do it more efficiently. And I think that's what's also leading to when you have a really strong referral.

John Shannon: Okay, so let me talk about payer coverage with Recor11. And I, you know, it's really not changed.

John Shannon: Okay, so let me...

Speaker Change: talk about payer coverage with recor eleven and i it's really not changed what happens is you get spend more and more time in these spaces with these rare brands as is

John Shannon: What happens is you spend more and more time in these spaces with these, you know, rare brands, as is. You get better and better at moving patients from a referral through the payer process. And you do it faster, and you do it more efficiently. And I think that's what's leading to when you have a really strong referral pipeline, you can turn that into new starts. And we saw both of those accelerate in the second quarter and continue to see that going into the third quarter.

John Shannon: What happens is you spend more and more time in these spaces with these, you know, rare brands, as is. You get better and better at moving patients from a referral through the payer process, and you do it faster, and you do it more efficiently. So, and I think that's where, you know, that's what's also leading to when you have a really strong referral pipeline that you can, you know, turn that into a new start.

John Shannon: you get better it better at moving patients from a referral through through the payer process

John Shannon: and you, you know, do it faster and you do it more efficiently. So, and I think that's where, you know, that's what's also leading to when you have a really strong referral pipeline that you can, you know,

John Shannon: Pipeline that you can, you know, turn that into a new start, and we saw both of those accelerate in the second quarter and continue to see that going into the third quarter. And for Kasey, you know, we said I think we've done an amazing job of kind of managing this space for the benefit of the patients with PPP. And that is being, we see that in the resilience that patients and physicians are willing to, you know, fight for brand. So we see that continuing.

John Shannon: Pipeline that you can, you know, turn that into a new start and we saw both of those accelerate in the second quarter and continue to see that going into the third quarter. And for Kasey, you know, we said I think we've done an amazing job of kind of managing this space for the benefit of the patients with PPP. And that is being, we see that in the resilience that patients and physicians are willing to, you know, fight for brand.

John Shannon: And we saw both of those accelerate in the second quarter and continue to see that going into the third quarter. And for Kiveyas, you know, we said we've done an amazing job of kind of managing this space for the benefit of the patients with PPP. And that is being – we see that in the resilience that patients and physicians are willing to, you know, fight for brands. So we see that continuing. Now, you know, could it get – maybe another player coming in or something would potentially disrupt that, but, you know, until that happens, we're really confident that it's going to hold its resilience.

John Shannon: Turned that into new starts and we saw both of those accelerate in the second quarter and continue to see that going into the third quarter

John Shannon: And for Kiveyas, you know, we said I think we've done an amazing job of kind of managing this space for the benefit of the patients with PPP. And that shows us the resilience that patients and physicians are willing to, you know, fight for brands. So we see that continuing. Now, you know, could it get – maybe another player coming in or something would potentially disrupt that, but, you know, until that happens, we're really confident that it's going to hold its resilience.

John Shannon: And for Kiveyas, you know, we've said, I think we've...

John Shannon: We've done an amazing job of kind of managing this space.

John Shannon: for the benefit of the patients with PPP. And that is being... We see that in the resilience that patients and physicians...

John Shannon: So we see that continuing. Now, you know, could it get, you know, maybe another player coming in or something would, would maybe potentially disrupt that, but, you know, until that happens, we're really confident that it's going to hold its resilience. Thank you.

John Shannon: are willing to, you know, fight for brand.

John Shannon: Now, you know, could it get, you know, maybe another player coming in or something would, would maybe potentially disrupt that. But, you know, until that happens, we're really confident that it's going to hold its resilience. Thank you.

John Shannon: So we see that continuing. Now, you know, could it get, you know, maybe another player coming in or something would, would maybe potentially disrupt that. But, you know, until that happens, we're really confident that it's going to hold its resiliency.

Speaker Change: Great, thank you.

John Shannon: We have no further questions in the queue at this time, so I'll hand back over to the team for closing remarks. Well, thank you everyone for listening today. As you've just heard, Xeris is stronger than ever. I'm confident that by executing on the three priorities I talked about earlier, we will deliver a robust business result that will ultimately translate into meaningful shareholder value. Thank you again for your time this morning.

Operator: We have no further questions in the queue at this time, so I'll hand back over to the team for closing remarks.

John Shannon: We have no further questions in the queue at this time, so I'll hand back over to the team for closing remarks. Well, thank you everyone for listening today, as you've just heard, Xeris is stronger than ever. I'm confident that by executing on the three priorities I talked about earlier, we will deliver a robust business result that will ultimately translate into meaningful shareholder value.

Operator: We have no further questions in the queue at this time, so I'll hand back over to the team for closing remarks.

John Shannon: Well, thank you everyone for listening today. As you've just heard, Xeris is stronger than ever. I'm confident that by executing on the three priorities I talked about earlier, we will deliver a robust business result that will ultimately translate into meaningful shareholder value. Thank you again for your time this morning.

John Shannon: Well, thank you everyone for listening today. As you've just heard, Xeris is stronger than ever.

John Shannon: I'm confident that by executing on the three priorities I talked about earlier, we will deliver a robust business result that will ultimately translate into meaningful shareholder value. Thank you again for your time this morning.

Operator: Thank you again for your time this morning. Back in days today is cool, thank you for joining, you and Adam's Connector line.

Operator: Back in days, today is cool. Thank you for joining, you and Adam's Connector line.

Operator: That concludes today's call. Thank you for joining us. You may now disconnect your line.

Operator: That concludes today's call. Thank you for joining. You may now disconnect your line.

Q2 2024 Xeris Biopharma Holdings Inc Earnings Call

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