Xeris Pharmaceuticals Inc

H Lundbeck has expressed interest in a potential takeover of Chicago-based commercial-stage drugmaker Xeris Pharmaceuticals Inc, according to people familiar with the matter cited by Bloomberg. The Danish pharmaceutical group has been working with financial advisers to explore an acquisition of the U.S. firm, though discussions remain preliminary and may not result in a formal transaction. Shares of Xeris have surged almost 20% over the past 12 months, lifting the company's market valuation to approximately $1.8 billion, while Lundbeck holds a market capitalization of roughly 43.3 billion Danish kroner, or $6.6 billion. A spokeswoman for Xeris told Bloomberg that the company is "not for sale" and remains "laser focused on improving patient lives by developing and commercializing" its therapeutic portfolio, which centers on endocrine and rare diseases and three approved treatments, including Recorlev for Cushing's syndrome. Any deal would expand Lundbeck's footprint into rare endocrine disorders and specialized formulation technologies, beyond its traditional focus on neurological and psychiatric conditions such as Parkinson's disease and schizophrenia.

medmix's Drug Delivery unit, known as Haselmeier, announced a collaboration with Xeris Pharmaceuticals to support development of Xeris' XP-8121, an investigational once-weekly subcutaneous levothyroxine therapy for hypothyroidism. The collaboration will leverage medmix's D-Flex disposable pen platform, which in design verification testing achieved dose accuracy significantly exceeding ISO 11608-1 requirements, the international standard for dose accuracy in needle-based injection systems. Because the U.S. Food and Drug Administration has classified levothyroxine as a drug with a narrow therapeutic index, accurate dose delivery is critical, as small differences in dose or blood concentration can lead to over- or undertreatment and adverse effects. The D-Flex platform incorporates a patented dosing mechanism that allows patients to select only intended dose settings, supports multiple fixed-dose configurations within a single device design, and enables administration of very small dose increments down to 0.005 mL, with adaptability for dose volumes up to 0.75 mL. Pete Valentinsson, Senior Vice President of Global Technical Operations at Xeris, said D-Flex distinguished itself by consistently demonstrating the dose accuracy XP-8121 demands, while Dr. Oliver Haferbeck, Head of Business Unit Drug Delivery at medmix, said the company is proud to support Xeris with a platform that has demonstrated outstanding dose accuracy. D-Flex has been marketed since 2023 and is already deployed in an approved European product variant and an ongoing U.S. clinical program.

Xeris Biopharma reported record second-quarter 2026 results with total revenue of $92.1 million, up 29% year-over-year, and raised the bottom end of its full-year revenue guidance to $385 million to $390 million. Net product revenue reached $91 million, a 34% increase, driven by Recorlev's 81% growth to $56.8 million, while Gvoke rebounded to $22.5 million and Keveyis contributed $11.7 million. The company also completed the full retirement of its convertible notes in July, eliminating $34 million of debt and saving approximately $3 million in annual interest expense, though it recognized a one-time non-cash charge of about $31 million in the second quarter. Xeris expects to initiate a Phase III trial for its XP-8121 hypothyroidism candidate by year-end and will host a program overview on September 9.

Xeris Biopharma Holdings received a notice of allowance from the U.S. Patent and Trademark Office for a patent application covering compositions and methods of use for its Keveyis product. The allowed claims are expected to advance toward issuance, and Xeris plans to list the patent in the FDA's Orange Book, potentially extending intellectual property protection for Keveyis through 2039. Separately, Xeris entered exchange agreements to retire approximately $23 million of its 8.00% Convertible Senior Notes due 2028 using cash and common stock, leaving about $10.5 million outstanding after the transaction.