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Xeris Pharmaceuticals closes $98.3M IPO

Xeris Pharmaceuticals Inc. closed its IPO to raise about $98.3 million in gross proceeds.

The Chicago-based specialty pharmaceutical company issued 6,555,000 common shares at $15 apiece. The total includes 859,800 shares bought by the underwriters after they exercised their option in full to buy the additional shares.

The company reported separately June 26 that two late-stage clinical trials showed that its ready-to-use glucagon rescue pen was safe and effective in treating emergency events for type 1 diabetes patients.

Xeris is listed on the Nasdaq Global Select Market under the symbol XERS.

Jefferies, Leerink Partners, RBC Capital Markets and Mizuho Securities acted as joint book running managers for the offering.