Xeris Biopharma Holdings, Inc. (Nasdaq:XERS) shares soared more than 26% yesterday driven by the company’s announcement regarding the U.S. Food and Drug Administration (FDA) approval of its Recorlev® (levoketoconazole).

According to the announcement, Recorlev®, which is used for the treatment of endogenous hypercortisolemia in adult patients with Cushing’s Syndrome, was approved by FDA, making it a safe and effective therapeutic option for patients for whom surgery is not an option or has not been curative.