8-K: Xeris Biopharma Appoints Anh Nguyen as Chief Medical Officer; Ken Johnson to Retire

Xeris Biopharma Holdings announces the appointment of Dr. Anh Nguyen as Chief Medical Officer, succeeding Ken Johnson, who will retire on April 1, 2025.

Summary

• Xeris Biopharma Holdings has appointed Dr. Anh Nguyen as its new Chief Medical Officer, effective February 24, 2025.
• Dr. Nguyen succeeds Ken Johnson, who is retiring from his role as Senior Vice President, Global Development and Medical Affairs on April 1, 2025.
• Dr. Nguyen will be responsible for the product portfolio vision and strategic direction for Medical, Regulatory, Preclinical and Clinical Development, and Pharmacovigilance functions, reporting to Xeris CEO John Shannon.
• Ken Johnson will assist in the transition of his organization under Dr. Nguyen's leadership.

Sentiment

Score: 7

Explanation: The announcement is generally positive, highlighting a smooth transition in leadership and continued focus on growth and development. The company is bringing in an experienced executive to lead medical affairs.

Positives

• Dr. Anh Nguyen brings extensive clinical and leadership experience to Xeris, including experience with regulatory strategy, clinical development, and medical affairs.
• Ken Johnson will assist in the transition, ensuring a smooth handover of responsibilities.
• Dr. Nguyen's previous experience includes roles at AskBio, NIH, FDA, and CMS, as well as contributions to the '21st Century Cures Act'.
• Xeris is progressing with the Phase 3 development of XP-8121 and aims to continue driving growth of its commercial portfolio, especially Recorlev.

Risks

• The company's forward-looking statements are subject to risks and uncertainties, including its financial position, market acceptance of its products, reliance on third-party suppliers, and the ability to protect its intellectual property.
• The company's reliance on third parties to conduct clinical trials could pose a risk.

Future Outlook

Xeris anticipates continued growth of its commercial portfolio and is preparing to embark on Phase 3 development of XP-8121.

Management Comments

• John Shannon, CEO of Xeris, stated that Dr. Nguyen's forward-thinking leadership comes at a time when the company is preparing for Phase 3 development of XP-8121 and continuing to drive growth of its commercial portfolio, especially Recorlev.
• Ken Johnson stated that it has been an honor to be part of an exceptionally talented team and a privilege to help lead Xeris through its evolution to a commercial-stage biopharmaceutical company.
• Dr. Nguyen stated that he is excited to help lead the scientific efforts at Xeris, to collaborate and usher a new era of transformative therapies that leverage our innovation and strategic partnerships, to redefine patient care.

Industry Context

The appointment of a new Chief Medical Officer is a common occurrence in the biopharmaceutical industry, especially for companies focused on developing and commercializing innovative products. This change comes as Xeris is focused on advancing its pipeline and growing its commercial portfolio.

Comparison to Industry Standards

• Xeris's focus on developing and commercializing innovative products aligns with the strategies of other growth-oriented biopharmaceutical companies such as Amarin Corporation and Biohaven Pharmaceutical Holding Company.
• The appointment of a CMO with experience at the NIH, FDA, and CMS is similar to the talent acquisition strategies of companies like Vertex Pharmaceuticals and Regeneron Pharmaceuticals, which prioritize individuals with strong regulatory and clinical backgrounds.
• Xeris's pipeline development, including XP-8121, is comparable to companies like Horizon Therapeutics, which focus on developing therapies for rare diseases and specialized conditions.

Management Changes

Stakeholder Impact

• Shareholders may view the leadership change positively, given Dr. Nguyen's experience and the smooth transition plan.
• Employees in the Medical, Regulatory, Preclinical and Clinical Development, and Pharmacovigilance functions will be impacted by the change in leadership.
• Patients may benefit from the continued development of innovative therapies under Dr. Nguyen's leadership.

Next Steps

• Dr. Nguyen will assume his responsibilities as Chief Medical Officer.
• Ken Johnson will assist in the transition until his retirement on April 1, 2025.
• Xeris will continue with Phase 3 development of XP-8121.
• Xeris will continue to drive growth of its commercial portfolio, especially Recorlev.

Key Dates

Keywords

Chief Medical Officer, Xeris Biopharma, Anh Nguyen, Ken Johnson, retirement, appointment, XP-8121, Recorlev, biopharmaceutical