When a pharmaceutical company announces positive results from any stage of a clinical study, then it almost always has a positive effect on the company’s stock. That is what happened with XERS stock in the early session on Tuesday after Xeris Pharmaceuticals Inc (NASDAQ:XERS) released highly positive data from its middle stage clinical study of one of its products.
Major Details
The product in question is a ‘ready-to-use’ (RTU) glucagon for the prevention of hypoglycemia (low blood sugar) in adults with type 1 diabetes, and the results proved to be highly positive in the latest study.
Paul R. Edick, the Chief Executive Officer of the company, said of the product and its implications: “Our goal with this study is to show that a mini dose (150 µg) of Xeris’ liquid stable glucagon, administered immediately prior to aggressive aerobic exercise, can alleviate this burden.”
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The latest developments were welcomed by the market, and XERS stock surged by as much as 12% to $6.49. It goes without saying that Xeris Pharmaceuticals enjoyed massive demand this morning, and it is likely that many eyes will be on the stock this week.
The optimism surrounding XERS stock is perfectly understandable, considering the true implications of the product if it manages to hit the market. In addition to that, it is also important to point out that the patients who participated in the study did not show any adverse effects from this medicine. It is another feather in the cap for the company and could prove to be an important factor in the long-term prospects of the medicine.
Last but not least, Xeris Pharmaceuticals also announced that it expects the outpatient portion of the results to be made available within the first half of 2020.
Despite today’s jump, XERS stock is down about 65% over the past year.
Featured image: DepositPhotos © avemario
