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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 (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.
GeneDx (Nasdaq: WGS), a leader in genomic insights, announced its participation in upcoming investor conferences. The company will attend the UBS Genomic Medicine Summit (August 13-14, 2024), Morgan Stanley Healthcare Conference (September 4-6, 2024), Wells Fargo Healthcare Conference (September 4-6, 2024), and Jefferies London Healthcare Conference (November 19-21, 2024).
GeneDx will participate in a panel discussion on the Future of Genetic Testing at the UBS summit and hold a fireside chat at the Wells Fargo conference. Select presentations will be available via webcast on the company's investor relations website. GeneDx specializes in rare disease diagnostics, offering exome and genome tests to provide personalized healthcare solutions and accelerate drug discovery.
GeneDx (Nasdaq: WGS), a leader in genomic insights for improved health outcomes, has granted 75,100 restricted stock units (RSUs) to seven newly hired employees as inducement awards. The RSUs, granted under GeneDx's 2023 Equity Inducement Plan and in compliance with Nasdaq Listing Rule 5635(c)(4), will vest in equal annual installments over four years, subject to continued employment. Each RSU represents a right to receive one share of GeneDx's Class A Common Stock upon settlement. The company typically uses a 'sell to cover' transaction to address tax withholding obligations upon vesting and settlement of RSUs.
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