Welcome to our dedicated page for Exagen news (Ticker: XGN), a resource for investors and traders seeking the latest updates and insights on Exagen stock.
Exagen Inc. (NASDAQ: XGN) is a leading provider of advanced diagnostic solutions focused on autoimmune rheumatic diseases. With its headquarters in Carlsbad, California, Exagen operates a CLIA-certified and CAP-accredited laboratory dedicated to improving patient outcomes through innovative testing solutions.
Exagen's core business revolves around its Avise® brand, which encompasses a suite of ten proprietary diagnostic tests designed to provide accurate, timely, and differential diagnoses for autoimmune conditions like systemic lupus erythematosus (SLE) and rheumatoid arthritis. These tests empower physicians and patients with objective data to better manage and treat these complex diseases.
In recent developments, Exagen has entered an exclusive license agreement with Johns Hopkins University to develop novel lupus nephritis biomarkers. This collaboration aims to create non-invasive assays that offer unique clinical insights into lupus nephritis, enhancing diagnostic and treatment options.
Financially, Exagen reported revenue of $13.4 million for Q3 2023. Despite a net loss of $5.4 million for the same period, the company has shown improvements in key performance metrics such as adjusted EBITDA, which stood at $(3.6) million compared to $(6.1) million in Q3 2022. With cash and cash equivalents of $28.4 million as of September 30, 2023, Exagen is well-positioned to continue its growth and innovation.
Committed to personalized medicine, Exagen collaborates closely with community rheumatologists to ensure their diagnostic solutions meet the evolving needs of the medical community. Their focus on patient-centric care and continuous product enhancement underscores their mission to provide clarity in autoimmune disease decision-making.
For more detailed information, please visit the company's websites at exagen.com and avisetest.com.
Exagen Inc. (Nasdaq: XGN) reported a total revenue of $42.0 million for 2020, a 4% increase from 2019. Q4 revenue reached $12.7 million, up 24% year-over-year, with a gross margin of 66%. The company delivered 28,601 AVISE® CTD tests in Q4, part of a record 100,450 for the year. Exagen had 1,690 healthcare providers, maintaining a 99% retention rate. Despite operating expenses rising to $15.4 million in Q4 due to employee costs, net loss was $3.5 million. For 2021, revenue is projected to be between $47 million and $49 million.
Exagen Inc. (Nasdaq: XGN) is set to release its financial results for the fourth quarter and full year ending December 31, 2020, on March 16, 2021, after market close. The conference call will be led by CEO Ron Rocca and CFO Kamal Adawi at 4:30 PM ET. Interested participants can join via phone or webcast through the Exagen investor relations website. A replay will be available until March 23, 2021. Exagen focuses on innovative testing products for autoimmune diseases, aiming to enhance provider capabilities in diagnosing and managing conditions like rheumatoid arthritis and lupus.
Exagen Inc. (Nasdaq: XGN) announced its participation in the Cowen 41st Annual Health Care Conference from March 1-4, 2021. Ron Rocca, President and CEO, along with CFO Kamal Adawi, will engage in a virtual fireside chat on March 3 at 4:00 pm EST. Exagen focuses on providing innovative testing solutions for autoimmune diseases to enhance diagnosis and treatment, aiming to support better patient care. Their AVISE® brand leverages proprietary technology to improve the management of conditions such as rheumatoid arthritis and lupus.
Exagen Inc. (Nasdaq: XGN) announced its participation in the BTIG MedTech, Digital Health, Life Science & Diagnostic Tools Conference, scheduled for February 17-19, 2021. Key executives, including President Ron Rocca and CFO Kamal Adawi, will host a virtual fireside chat on February 17 at 3:00 PM ET. They will also engage in one-on-one meetings with investors. Exagen focuses on improving care for autoimmune disease patients through innovative testing products under its AVISE® brand.
Exagen Inc. (Nasdaq: XGN) announced that all AVISE test offerings are now an in-network service with Tufts Medical Center. This collaboration aims to enhance the accuracy and accessibility of autoimmune disease testing. John Butz from Tufts emphasized the need for better diagnostic options for autoimmunity. Ron Rocca, CEO of Exagen, noted that this agreement will significantly improve patient care through better diagnosis and monitoring capabilities. The partnership is expected to facilitate faster diagnosis and treatment interventions for complex autoimmune diseases.
Exagen Inc. (Nasdaq: XGN) reported preliminary financial results for Q4 2020, projecting testing revenue between $10.5 million and $10.8 million, reflecting an 11% to 15% increase from Q3 2020. The company delivered approximately 28,600 AVISE CTD tests, backed by a record 635 healthcare provider adopters and a 99% retention rate. Despite COVID-19 challenges, Exagen's core testing business showed strong performance, positioning it for growth in 2021. Full financial results, including SIMPONI revenue, will be released in March 2021.
SAN DIEGO, Jan. 05, 2021 (GLOBE NEWSWIRE) -- Exagen Inc. (Nasdaq: XGN) is set to participate in the 2021 ICR Conference from January 11-14, 2021. Ron Rocca, President and CEO, and Kamal Adawi, CFO, will hold a virtual fireside chat on January 14 at 11:30 AM ET. Attendees can schedule one-on-one meetings with management during the event. Exagen focuses on transforming care for patients with autoimmune diseases through innovative testing products, aiming to enable timely diagnosis and therapeutic intervention.
Exagen Inc. (Nasdaq: XGN) has announced that all AVISE test offerings are now contracted as in-network services with St. Charles Health System, the largest healthcare provider in Central Oregon. This partnership is expected to enhance patient care by making AVISE testing accessible to rheumatologists for the diagnosis and monitoring of autoimmune diseases, especially systemic lupus erythematosus (SLE). CEO Ron Rocca highlighted the significance of this arrangement for improving community health outcomes.
Exagen Inc. (Nasdaq: XGN) announced its participation in key December investor conferences. The Piper Sandler 32nd Annual Virtual Healthcare Conference will feature a recorded company presentation available from November 23 to December 3, 2020. Additionally, Ron Rocca, the President and CEO, will engage in a Fireside Chat at the Evercore ISI 3rd Annual HealthCONx Conference on December 2, 2020, at 10:30 am EST. Exagen focuses on advancing care for patients with autoimmune diseases, utilizing its innovative AVISE® testing products.
Exagen Inc. (Nasdaq: XGN) has extended its collaboration agreement with GlaxoSmithKline (GSK) to improve the diagnosis of systemic lupus erythematosus (SLE), a major autoimmune disease. This partnership aims to enhance awareness of the importance of early diagnosis, which currently takes an average of nearly six years. The agreement will continue to utilize Exagen's proprietary AVISE® laboratory tests to support SLE patients in achieving better health outcomes. The details of the agreement remain confidential, following a similar extension made last year.
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