Here's Why Xeris Biopharma Stock Is Jumping Today
Shares of Xeris Biopharma (NASDAQ: XERS), a small-cap biopharmaceutical company, are on the move following good news from the Food and Drug Administration (FDA). Investors excited about the company's latest new drug approval drove the stock 27.7% higher as of 12:07 p.m. ET on Friday.
In May, Xeris Biopharma agreed to use shares of its own stock to acquire Strongbridge Biopharma, which was developing Recorlev. The decision to acquire Strongbridge came shortly after the FDA began reviewing a new drug application for Recorlev, and it looks like Xeris made the right decision.
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Source Fool.com
