Xeris secures patent protection for Keveyis through 2039

Xeris Pharmaceuticals, Inc., a wholly owned subsidiary of Biopharma Holdings, Inc. (NASDAQ: XERS), announced that the United States Patent and Trademark Office (USPTO) has issued a Notice of Allowance for a new patent covering its KEVEYIS (dichlorphenamide) product. The allowed claims in U.S. Patent Application No. 17/151,405, entitled "Compositions and Methods of Use," cover the use of KEVEYIS. This development is expected to provide intellectual property protection for the therapy through 2039, reinforcing the company's commitment to the primary periodic paralysis community.

The Notice of Allowance indicates that the USPTO has determined the application meets the requirements for patentability. Following the completion of standard administrative steps and the payment of maintenance fees, the patent is expected to issue as a U.S. patent. Xeris intends to submit the patent to the U.S. Food and Drug Administration (FDA) for listing in the Orange Book, a publication of approved drug products with therapeutic equivalence evaluations.

KEVEYIS is an FDA-approved treatment for primary periodic paralysis (PPP), including primary hyperkalemic periodic paralysis, primary hypokalemic periodic paralysis, and related variants. PPP is a rare genetic condition characterized by episodes of muscle weakness or temporary paralysis. The therapy has been shown to reduce the number, severity, and duration of PPP attacks.

Key Details of the Patent Allowance

Detail	Description
Patent Application No.	17/151,405
Title	Compositions and Methods of Use
Product Covered	KEVEYIS (dichlorphenamide)
Expected Protection Term	Through 2039
Next Step	Submission to FDA for Orange Book listing

John Shannon, CEO of Xeris, stated that the Notice of Allowance reflects the company's long-standing commitment to the patient community that depends on KEVEYIS. He emphasized that strengthening the intellectual property around the therapy ensures the company can continue to deliver this treatment and support the primary periodic paralysis community.

Xeris Biopharma Holdings is a biopharmaceutical company focused on developing and commercializing innovative products across various therapies. In addition to KEVEYIS, its commercial products include RECORLEV for endogenous Cushing's syndrome and GVOKE for severe hypoglycemia.

Xeris Biopharma Holdings, Inc. has entered into separate, privately negotiated exchange agreements with certain holders of its 8.00% Convertible Senior Notes due 2028 to retire approximately $23 million aggregate principal amount of the Notes. The transaction eliminates approximately $23 million of debt, resulting in approximately $2 million in annual interest savings. The exchange consideration consists of approximately $23 million in cash and a number of shares of its common stock. The number of shares issued will be determined based upon the volume-weighted average price per share of Xeris' common stock over a 21 trading day averaging period commencing on June 11, 2026.

Assuming the per share volume-weighted average price of Xeris' common stock during each day of the averaging period is $6.71, which was the closing price on June 10, 2026, Xeris expects to issue an aggregate of approximately 4.6 million shares of common stock upon consummation of the exchanges. The agreements are subject to customary closing conditions. Morgan Stanley acted as placement agent to the Company in connection with the exchanges.

The exchanges are being conducted pursuant to the exemption from registration provided by Section 4(a)(2) under the Securities Act of 1933, as amended. The shares of Xeris' common stock to be issued in connection with the exchanges have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements.

Transaction Details

The following table outlines the key components of the exchange agreements:

Component	Details
Notes to be retired	~$23 million aggregate principal amount
Cash consideration	~$23 million
Share consideration	To be determined based on VWAP
Averaging period	21 trading days starting June 11, 2026
Expected shares issued	~4.6 million (assuming $6.71 VWAP)
Remaining Notes outstanding	$10.5 million aggregate principal amount