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GeneDx Holdings Corp. (Nasdaq: WGS) is a leading company in the field of personalized genetic insights, aiming to revolutionize healthcare through genomic and clinical data. The company focuses on providing actionable health insights that help in accurate diagnosis, targeted treatment, and drug discovery. GeneDx is driven by its comprehensive data sets on rare diseases, enabling precision medicine to become a standard practice.
GeneDx operates primarily through two segments: GeneDx, which is the main revenue generator, and Legacy Sema4 diagnostics. The company is well-regarded for its exome and genome testing and has one of the world's most extensive rare disease datasets. Recent achievements include groundbreaking research on exome sequencing for epilepsy patients, which has shown superior clinical outcomes compared to multi-gene panels.
In the fourth quarter of 2023, GeneDx reported strong financial performance, with a significant increase in utilization of exome and genome products, higher reimbursement rates, and reduced cash burn. The company aims to achieve profitability by 2025. GeneDx continues to forge valuable partnerships, such as its collaboration with Komodo Health, to advance drug discovery and patient care.
GeneDx is also making strides in expanding access to its rapid whole genome sequencing (rWGS) services in neonatal intensive care units (NICUs) through a new collaboration with Epic. This integration will allow seamless data sharing between health systems and improve patient outcomes by speeding up the diagnosis and treatment process.
The company's participation in events like the World Orphan Drug Congress highlights its commitment to advancing precision medicine. With a focus on both clinical and biopharma partnerships, GeneDx is well-positioned to continue its growth and impact on the healthcare industry.
For more information, visit the GeneDx website and connect with them on social media platforms like LinkedIn, Facebook, and Instagram.
GeneDx Holdings Corp. (Nasdaq: WGS) has announced the granting of 69,089 restricted stock units (RSUs) to three newly-hired employees, effective January 14, 2025. Of these, 37,497 RSUs were granted to Bryan Dechairo as part of his employment package as Chief Operating Officer. The RSUs were awarded under GeneDx's 2023 Equity Inducement Plan and comply with Nasdaq Listing Rule 5635(c)(4). The grants 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.
GeneDx Holdings Corp. (WGS) has announced strong preliminary financial results for Q4 and full year 2024, exceeding previous guidance. The company expects full-year 2024 revenues of at least $299 million, representing a 54% year-over-year increase, and Q4 2024 revenues of at least $92 million, up 59% year-over-year and 20% sequentially.
The company's exome and genome test revenues reached at least $75.8 million in Q4 2024, showing a remarkable 93% year-over-year increase. Adjusted gross margin is expected to be at least 64% for full year 2024 and 68% for Q4. The results include a $6.8 million discrete benefit from a multi-year appeal recovery. Exome and genome test volume grew to 20,676 in Q4, representing a 32% year-over-year increase and comprising 38% of all test result volume.
GeneDx (WGS) has announced a new telehealth pathway to expand access to genetic testing services, specifically focusing on exome testing for families seeking diagnoses. The initiative aims to reduce the current 4-5 year average diagnostic timeline for rare diseases by connecting parents directly with genetic experts.
The company highlights that children with neurodevelopmental disorders typically incur over $10,000 in additional health costs and undergo more than 5 uninformative tests during their diagnostic journey. Through this new telehealth service, parents can schedule testing, appointments, and potentially receive a diagnosis in as soon as five weeks by visiting GeneDx.com/get-exome.
The company is partnering with a leading telehealth genetics provider to streamline the referral process. This initiative addresses increasing wait times for medical genetics and developmental/behavioral pediatricians, which have grown significantly over the past three years.
GeneDx (Nasdaq: WGS) has demonstrated significant leadership in genomics research throughout 2024, contributing to over 85 peer-reviewed publications and impacting the results of more than 22,000 patients through gene-disease relationship studies. The company has become the largest contributor to GeneMatcher, accounting for 22.2% of all submissions with over 21,315 entries.
The research efforts have led to 26 publications expanding knowledge of known disease-gene associations and 35 publications reporting new disease-gene relationships. Nearly 150 GeneDx ordering clinicians were included as co-authors in 2024, bringing the total to 638 unique ordering clinician co-authors. These contributions have influenced the broadening of phenotypes, discovery of new disease mechanisms, and new modes of inheritance, affecting 12% of all patients receiving exome or genome sequencing from GeneDx.
GeneDx (Nasdaq: WGS) has appointed Bryan Dechairo as Chief Operating Officer, effective immediately. In this newly created role, Dechairo will report to CEO Katherine Stueland and oversee Product & Technology, Operations, Medical Affairs, Innovation, and Program Management teams.
Dechairo brings over 30 years of experience in diagnostic businesses and most recently served as President and CEO of Sherlock Biosciences. He holds a PhD in Human Genetics from University College London and has held executive roles at companies including Pfizer, Myriad Genetics, Assurex, and Medco Health.
The appointment aims to drive operational excellence as GeneDx enters its next phase of commercial growth. The company specializes in pediatric genetics and focuses on delivering personalized health insights for diagnosis, treatment direction, and drug discovery through genomic testing and interpretation services.
GeneDx (Nasdaq: WGS), a genomic insights company, has announced its participation in the 43rd Annual J.P. Morgan Healthcare Conference in San Francisco, CA, from January 12-16. The company's management will deliver a presentation on Wednesday, January 15, 2025, at 4:30 p.m. PT.
The presentation will be accessible through live and archived webcasts on the company's investor relations website. GeneDx specializes in providing genetic diagnoses through advanced exome and genome tests, leveraging one of the world's largest rare disease data sets to deliver personalized healthcare solutions and improve drug discovery and healthcare system efficiency.
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.
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