Exagen Appoints Jeffrey G. Black as New Chief Financial Officer
Exagen Inc. (Nasdaq: XGN) has announced the appointment of Jeffrey G. Black as its new Chief Financial Officer (CFO), effective September 1, 2024. Black replaces Kamal Adawi, who is stepping down, with John Aballi serving as interim CFO through August. Black brings over 30 years of financial and accounting experience, having served in finance leadership roles for eight publicly traded companies.
Black's recent experience includes serving as CFO of Standard BioTools, where he played a key role in its merger with SomaLogic. He was also CFO at Apollo Endosurgery, instrumental in its $650 million sale to Boston Scientific, and at Alphatec Spine, where he closed nearly $500M in financing transactions and expanded the company's market cap from $20M to over $1B.
Exagen Inc. (Nasdaq: XGN) ha annunciato la nomina di Jeffrey G. Black come nuovo Direttore Finanziario (CFO), a partire dal 1 settembre 2024. Black sostituisce Kamal Adawi, che si dimette, con John Aballi che assumerà il ruolo di CFO ad interim fino ad agosto. Black porta con sé oltre 30 anni di esperienza nel settore finanziario e contabile, avendo ricoperto ruoli di leadership finanziaria in otto aziende quotate in borsa.
Le recenti esperienze di Black includono la posizione di CFO di Standard BioTools, dove ha svolto un ruolo chiave nella fusione con SomaLogic. È stato anche CFO di Apollo Endosurgery, fondamentale nella vendita da 650 milioni di dollari a Boston Scientific, e di Alphatec Spine, dove ha chiuso quasi $500 milioni in transazioni di finanziamento e ha ampliato la capitalizzazione di mercato dell'azienda da 20 milioni di dollari a oltre 1 miliardo di dollari.
Exagen Inc. (Nasdaq: XGN) ha anunciado el nombramiento de Jeffrey G. Black como su nuevo Director Financiero (CFO), efectivo a partir del 1 de septiembre de 2024. Black reemplaza a Kamal Adawi, quien renuncia, y John Aballi ejercerá como CFO interino hasta agosto. Black aporta más de 30 años de experiencia en finanzas y contabilidad, habiendo ocupado roles de liderazgo financiero en ocho compañías cotizadas en bolsa.
La experiencia reciente de Black incluye haber sido CFO de Standard BioTools, donde desempeñó un papel clave en su fusión con SomaLogic. También fue CFO de Apollo Endosurgery, donde fue fundamental en la venta de 650 millones de dólares a Boston Scientific, y en Alphatec Spine, donde cerró casi 500 millones de dólares en transacciones de financiamiento y amplió la capitalización de mercado de la compañía de 20 millones a más de 1 mil millones de dólares.
Exagen Inc. (Nasdaq: XGN)은 Jeffrey G. Black을 새로운 최고 재무 책임자(CFO)로 임명했다고 발표했습니다. 임기는 2024년 9월 1일부터 시작됩니다. Black은 사임하는 Kamal Adawi를 대신하며, John Aballi는 8월까지 임시 CFO로 활동합니다. Black은 30년 이상의 재무 및 회계 경험을 보유하고 있으며, 8개의 상장 기업에서 재무 리더십 역할을 수행했습니다.
Black의 최근 경력에는 Standard BioTools의 CFO로서 SomaLogic과의 합병에서 중요한 역할을 했던 경험이 포함됩니다. 그는 또한 Apollo Endosurgery의 CFO로 재직하며 Boston Scientific에 6억 5천만 달러에 판매하는 데 중요한 역할을 했고, Alphatec Spine에서는 거의 5억 달러의 자금 조달 거래를 성사시켜 회사의 시장 가치를 2천만 달러에서 10억 달러 이상으로 확대했습니다.
Exagen Inc. (Nasdaq: XGN) a annoncé la nomination de Jeffrey G. Black en tant que nouveau directeur financier (CFO), à compter du 1er septembre 2024. Black remplace Kamal Adawi, qui démissionne, et John Aballi sera CFO intérimaire jusqu'en août. Black apporte plus de 30 ans d'expérience en finance et en comptabilité, ayant occupé des postes de direction financière dans huit entreprises cotées en bourse.
Les expériences récentes de Black incluent son rôle de CFO chez Standard BioTools, où il a joué un rôle clé dans sa fusion avec SomaLogic. Il a également été CFO chez Apollo Endosurgery, jouant un rôle essentiel dans sa vente de 650 millions de dollars à Boston Scientific, et chez Alphatec Spine, où il a conclu près de 500 millions de dollars de transactions de financement et a augmenté la capitalisation boursière de l'entreprise de 20 millions à plus de 1 milliard de dollars.
Exagen Inc. (Nasdaq: XGN) hat die Ernennung von Jeffrey G. Black zum neuen Finanzvorstand (CFO) bekanntgegeben, die ab dem 1. September 2024 wirksam wird. Black ersetzt Kamal Adawi, der zurücktritt, während John Aballi bis August als interimistischer CFO fungiert. Black bringt über 30 Jahre Erfahrung in Finanzen und Buchhaltung mit, da er in führenden Finanzpositionen bei acht börsennotierten Unternehmen tätig war.
Zu Blacks jüngsten Erfahrungen zählt die Position des CFO bei Standard BioTools, wo er eine Schlüsselrolle bei der Fusion mit SomaLogic spielte. Außerdem war er CFO bei Apollo Endosurgery, wo er maßgeblich am Verkauf für 650 Millionen Dollar an Boston Scientific beteiligt war, und bei Alphatec Spine, wo er fast 500 Millionen Dollar an Finanzierungstransaktionen abschloss und die Marktkapitalisierung des Unternehmens von 20 Millionen auf über 1 Milliarde Dollar erhöhte.
- Appointment of experienced CFO Jeffrey G. Black with 30+ years in finance leadership roles
- Black's track record includes successful mergers, acquisitions, and significant market cap growth
- Black's experience in closing large financing transactions (nearly $500M at Alphatec Spine)
- Departure of long-serving CFO Kamal Adawi, potentially affecting continuity
- Temporary leadership gap with interim CFO arrangement until September 1, 2024
CARLSBAD, Calif., Aug. 01, 2024 (GLOBE NEWSWIRE) -- Exagen Inc. (Nasdaq: XGN), a leading provider of autoimmune testing solutions announced today the appointment of Jeffrey G. Black, to the role of Chief Financial Officer (CFO), effective September 1, 2024. Mr. Black replaces Kamal Adawi, who will be stepping down, and John Aballi will act as interim CFO through the end of August.
“I sincerely thank Kamal for his leadership and numerous contributions to Exagen over the past decade,” said John Aballi, President and CEO of Exagen. “Kamal has been extremely supportive throughout my time with the Company, and I am very appreciative of his dedication to our customers and organization. I appreciate him helping to ensure a smooth transition as we welcome Jeff to the organization.”
Mr. Black brings to Exagen more than 30 years of financial and accounting experience, having served in finance leadership roles for eight publicly traded companies. He currently serves as CFO of Standard BioTools, where he recently played a key leadership role in executing its merger with SomaLogic, creating a diversified leader in life science tools. Prior to that, he was CFO of Apollo Endosurgery, where he was instrumental in the Company’s turnaround and eventual
“I am delighted to welcome Jeff to the Exagen executive leadership team to help lead through our next phase of growth,” said Mr. Aballi. “Jeff comes to us with a long history of success as a public company CFO and has a track record of establishing a positive corporate culture rooted in performance. I look forward to partnering with Jeff as the strength of our business starts to create new opportunities for growth.”
“I am pleased to join John and his leadership team during an exciting time for Exagen,” said Mr. Black. “There is a compelling opportunity ahead for Exagen to significantly impact patient care with truly differentiated solutions, and enhance shareholder value at the same time. I look forward to being a part of the team as it executes on its mission to improve clinical outcomes for patients.”
About Exagen Inc.
Exagen is a leading provider of autoimmune testing and its purpose as an organization is to provide clarity in autoimmune disease decision making with the goal of improving patients’ clinical outcomes. Exagen is located in San Diego County, California.
For more information, please visit Exagen.com or follow @ExagenInc on X (formerly known as Twitter).
Forward Looking Statements
Exagen cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on Exagen's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by Exagen that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Exagen’s business, including, without limitation Exagen’s goals, strategies and ambitions; potential future financial and business performance; the potential utility and effectiveness of Exagen’s services and testing solutions; the potential for future successes based on its appointment of Mr. Black; updates to be made to AVISE® CTD; potential shareholder value and growth and 2024 guidance. The inclusion of forward-looking statements should not be regarded as a representation by Exagen that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Exagen’s business, including, without limitation: delays in reimbursement and coverage decisions from Medicare and third-party payors and in interactions with regulatory authorities, and delays in ongoing and planned clinical trials involving its tests; changes in laws and regulations related to Exagen’s regulatory requirements; Exagen’s commercial success depends upon attaining and maintaining significant market acceptance of its testing products among rheumatologists, patients, third-party payors and others in the medical community; Exagen’s ability to successfully execute on its business strategies; third-party payors not providing coverage and adequate reimbursement for Exagen’s testing products, including Exagen’s ability to collect on funds due; Exagen’s ability to obtain and maintain intellectual property protection for its testing products; regulatory developments affecting Exagen’s business; and other risks described in Exagen’s prior press releases and Exagen’s filings with the Securities and Exchange Commission (“SEC”), including under the heading “Risk Factors” in Exagen’s Annual Report on Form 10-K for the year ended December 31, 2023 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Exagen undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Investor Relations
Exagen Inc.
Ryan Douglas
IR@exagen.com
760.560.1525
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