Xeris Biopharma CFO Departs; Q2 Revenue Previewed

TL;DR

CFO out, new interim CFO in, and Q2 revenue looks like $55-57M.

AI Summary

Xeris Biopharma Holdings, Inc. announced on July 7, 2024, the departure of its Chief Financial Officer, Richard King, effective July 12, 2024. The company also announced the appointment of Ashley L. Williams as interim CFO. Additionally, Xeris Biopharma Holdings, Inc. reported preliminary unaudited revenue for the second quarter of 2024, which is expected to be between $55 million and $57 million.

Why It Matters

The departure of a CFO can signal financial strategy shifts or internal challenges, while the preliminary revenue figures provide an early look at the company's performance in the current quarter.

Risk Assessment

Risk Level: medium — The departure of a CFO and the appointment of an interim one can introduce uncertainty, while preliminary revenue figures are subject to change.

Key Numbers

• $55M - $57M — Preliminary Q2 2024 Revenue (Indicates expected top-line performance for the quarter.)

Key Players & Entities

• Xeris Biopharma Holdings, Inc. (company) — Registrant
• Richard King (person) — Departing Chief Financial Officer
• July 12, 2024 (date) — Effective date of CFO departure
• Ashley L. Williams (person) — Appointed Interim Chief Financial Officer
• July 7, 2024 (date) — Date of report
• Second quarter of 2024 (date) — Period for preliminary revenue
• $55 million and $57 million (dollar_amount) — Preliminary Q2 2024 revenue range

FAQ

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 per share XERS The Nasdaq Global Select
• $680,000 — e will receive an annual base salary of $680,000 and his target annual incentive compens

Filing Documents

• xers-20240707.htm (8-K) — 37KB
• transitionagreementdatedas.htm (EX-10.1) — 73KB
• secondamendedandrestatedem.htm (EX-10.2) — 95KB
• exh991pressreleasedatedjul.htm (EX-99.1) — 15KB
• picture1reviseda.jpg (GRAPHIC) — 4KB
• 0001867096-24-000124.txt ( ) — 393KB
• xers-20240707.xsd (EX-101.SCH) — 2KB
• xers-20240707_lab.xml (EX-101.LAB) — 22KB
• xers-20240707_pre.xml (EX-101.PRE) — 13KB
• xers-20240707_htm.xml (XML) — 3KB

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. On July 8, 2024, Xeris Biopharma Holdings, Inc. (the "Company") issued a press release announcing certain preliminary results for the quarter ended June 30, 2024. A copy of this press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On July 8, 2024, the Company announced that, effective August 1, 2024 (the "Transition Date"), Paul R. Edick will transition from his role as Chief Executive Officer and Chairman of the Board of Directors of the Company (the "Board") and will become a Senior Advisor to the Company. Mr. Edick will serve as a Senior Advisor through February 1, 2026. On the same date, the Company announced that John Shannon, currently the Company's President and Chief Operating Officer, has been appointed by the Board to serve as the Company's Chief Executive Officer, effective as of the Transition Date. In connection with his appointment as Chief Executive Officer, Mr. Shannon will replace Mr. Edick as the Company's principal executive officer. Additionally, on the same date, the Company announced that Marla S. Persky, currently a Class III director of the Company, has been appointed by the Board to serve as the Chairperson of the Board, effective as of the Transition Date. The Board also approved the appointment of Mr. Shannon as a Class III director, effective as of the Transition Date. Mr. Shannon will serve as a Class III director of the Company until the Company's 2027 annual meeting of stockholders. The Board believes Mr. Shannon is qualified to serve as a member of the Board because of his extensive experience in the pharmaceutical industry and his intimate understanding of the Company's business and strategy. No arrangement or understanding exists between Mr. Shannon and any other person pursuant to which Mr.

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. A copy of the Company's press release announcing the foregoing is attached to this Current Report on Form 8-K as Exhibit 99.1. The information in this Item 7.01 and in Exhibit 99.1 attached hereto is intended to be furnished and shall not be deemed "filed" for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference to such filing.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 10.1 Transition Agreement, dated as of July 7, 2024, by and between the Registrant and Paul R. Edick 10.2 Second Amended and Restated Employment Agreement, dated as of July 7, 2024, by and between the Registrant and John Shannon 99.1 Press release dated May 9, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: July 8, 2024 Xeris Biopharma Holdings, Inc. By: /s/ Steven M. Pieper Name: Steven M. Pieper Title: Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR