Why Is Xeris Biopharma (XERS) Stock Up 12% Today?

Xeris Biopharma (NASDAQ: XERS ) stock is heading higher on Wednesday after the company announced an exclusive worldwide license agreement with Amgen (NASDAQ: AMGN ). That agreement allows Amgen to develop, manufacture, and commercialize a subcutaneous formulation of teprotumumab, known as TEPEZZA in the U.S.

This will be done with Xeris Biopharma’s XeriJect technology for Thyroid Eye Disease. This license agreement includes up to $75 million in development and regulatory milestone payments for Xeris Biopharma. It also covers sales based milestones and rising single digit royalties for sales of TEPEZZA using XeriJect.

Paul R. Edick, Chairman and CEO of Xeris Biopharma, said the following about the licensing deal. How This Affects XERS Stock Today News of the agreement between Xeris Biopharma and Amgen brings with it heavy trading for XERS stock. As of this writing, more than 5.8 million shares have changed hands.

That’s a massive leap compared to its daily average trading volume of about 1.5 million shares. XERS stock is up 11.6% as of Wednesday morning. Investors searching for even more of the most recent stock market coverage today are in the right place! We are offering up all of the hottest stock market stories that traders will want to read about on Wednesday! Among that is what has shares of Nio (NYSE: NIO ), Trend Micro (OTCMKTS: TMICY ) and Toast (NYSE: TOST ) stock in the news today.

You can read up on all of these matters by checking out the following links! More Wednesday Stock Market News Bank of America Issued a New Warning on NIO Stock Trend Micro Layoffs 2024: What to Know About the Latest TMICY Job Cuts TOST Stock Alert: Why Goldman Sachs Just Upgraded Toast On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

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