GeneDx Holdings Corp. - WGS STOCK NEWS

GeneDx (Nasdaq: WGS), a genomic insights company, announced its participation in the Piper Sandler 36th Annual Healthcare Conference from December 3-5 in New York City. The company's management will conduct a fireside chat on December 3, 2024, at 1:00 p.m. ET. Live and archived webcasts will be available on GeneDx's investor relations website.

GeneDx specializes in rare disease diagnostics, offering exome and genome tests that convert complex genomic data into clinical solutions. The company maintains one of the world's largest rare disease data sets, focusing on delivering personalized medical care through genetic diagnosis.

GeneDx (Nasdaq: WGS) has launched GeneDx Discover, a data visualization tool providing biopharmaceutical companies access to deidentified genetic data to improve drug development. The tool leverages GeneDx's database of over 700,000 clinical exomes and genomes to help understand disease characteristics and patient populations. This initiative aims to address current drug development challenges, where the average new therapy costs $2.6B, takes 12 years, and has a 90% failure rate. The self-service platform combines disease prevalence data, phenotypic information, and variant-level details to help define patient cohorts and understand market opportunities for genetically-defined diseases.

GeneDx (Nasdaq: WGS) has appointed Heidi Chen as Chief Legal Officer and Corporate Secretary, effective November 25, 2024. Chen, who will report to CEO Katherine Stueland, brings over 30 years of experience and will lead legal, compliance, and policy functions. She joins from Zoetis, where she served as General Counsel for nearly 12 years following its spinoff from Pfizer in 2013. During her tenure at Zoetis, Chen built the legal department and managed global security, enterprise risk management, M&A, litigation, and corporate governance. She previously held leadership positions at Pfizer and started her career at Hughes & Hubbard and Clifford Chance.

GeneDx (WGS) announced its research presentations at the 2024 ASHG annual meeting, featuring six platform presentations and five posters. The research leverages their database of over 700,000 clinical exome and genomes to advance pediatric care through genomic insights. Key studies include collaboration with SeqFirst on rapid whole genome sequencing in NICU, research on racial disparities in genetic diagnosis with University of Washington, data validation for long read sequencing with PacBio, and identification of 230 new genes associated with Autism Spectrum Disorder through the Autism Sequencing Consortium.

GeneDx (WGS) reported strong Q3 2024 results with revenues of $76.6M, marking 52% year-over-year growth. The company achieved profitability with adjusted net income of $1.2M. Exome and genome test revenue grew 77% year-over-year to $60M, with test volume increasing 46% to 19,262. Adjusted gross margins expanded to 64%. The company raised its FY 2024 revenue guidance to $284-290M from previous $255-265M. GeneDx has conducted over 700,000 clinical exomes and genomes, with expanded coverage across 30 state Medicaid programs and growing presence in genomic newborn screening.

GeneDx announced the publication of peer-reviewed research from the GUARDIAN study in JAMA, examining the use of whole genome sequencing (WGS) for newborn screening. The study, aiming to enroll 100,000 newborns, found that 3.7% of 4,000 enrolled newborns had positive screenings, with 92% of true positive findings being conditions not included in traditional newborn screening. The study screened for 255 early-onset genetic conditions, including 156 with established treatments. Notable findings included conditions like Long QT syndrome, severe combined immunodeficiencies, and Wilson disease. The study showed high acceptance rates, with 72% of families consenting to participate and 90.6% opting for additional neurodevelopmental disorder screening.

GeneDx (Nasdaq: WGS), a leader in genomic insights, has conducted genomic newborn screenings (gNBS) for over 14,000 infants through research studies like GUARDIAN and Early Check. This positions GeneDx as a laboratory leader in revolutionizing newborn screening. The company's analysis shows that 21% of patients could have received diagnoses an average of 8 years earlier if gNBS had been available at birth.

Dr. Paul Kruszka, Chief Medical Officer at GeneDx, will present 'Lessons Learned: 14,000+ Infants Screened with Newborn Sequencing' at the International Conference on Newborn Sequencing (ICoNS). GeneDx's work in gNBS supports its vision of quick genetic disorder diagnosis to prevent disease progression and ensure healthier lives.

GeneDx (Nasdaq: WGS), a leader in genomic insights for improved health outcomes, has announced it will release its third quarter 2024 financial results before the market opens on Tuesday, October 29, 2024. The company will host a conference call at 8:30 a.m. Eastern Time on the same day to discuss the results.

Investors interested in participating in the conference call must register online. A live and archived webcast of the event will be available on the 'Events' section of GeneDx's investor relations website at https://ir.genedx.com/.

GeneDx specializes in rare disease diagnostics, offering exome and genome tests that translate complex genomic data into clinical answers. The company aims to provide personalized, targeted medical care through genetic diagnosis.

GeneDx (Nasdaq: WGS), a leader in genomic insights for improved health outcomes, has announced the granting of 7,700 restricted stock units (RSUs) to two newly hired employees. The grants, effective September 23, 2024, were approved by the compensation committee of GeneDx's board of directors as inducement awards under the company's 2023 Equity Inducement Plan.

The RSUs will vest in equal annual installments over four years, contingent on continued employment. Each RSU represents the right to receive one share of GeneDx's Class A Common Stock upon settlement. This action aligns with Nasdaq Listing Rule 5635(c)(4), which allows for equity grants to new employees without shareholder approval.