Xeris Biopharma jumps on news of Amgen deal
Shares of USA-based was Xeris Biopharma (Nasdaq: XERS) were up 12% to $2.67 in morning trading yesterday, after it announced a licensing deal with biotech major Amgen (Nasdaq: AMGN). The shares have more than doubled in the last year.
Xeris has granted an exclusive worldwide license for Amgen to develop, manufacture, and commercialize a subcutaneous formulation of teprotumumab using Xeris’ XeriJect technology in thyroid eye disease (TED) - a serious, progressive and potentially vision-threatening rare autoimmune disease.
Teprotumumab-trbw, known as Tepezza in the USA, was developed and marketed Horizon Therapeutics, the $27.8 billion acquisition of which Amgen completed last year.
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