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 strong Q3 2020 results with revenue of $10.8 million, reflecting a 20% increase from Q2 2020 and a 3% rise year-over-year. Despite COVID-19 challenges, the company delivered 26,201 AVISE® tests and achieved a 99% retention rate among healthcare providers. Significant additions of 14 million covered lives were made, enhancing testing access. Although net loss increased to $4.3 million, gross margin improved to 60%. Exagen continues to strengthen its market position through innovative products and strategic partnerships.
Exagen Inc. (Nasdaq: XGN) announced management participation in November investor conferences to enhance its presence in the healthcare sector. They will present at the Stifel 2020 Virtual Healthcare Conference on November 18, 2020, at 4:00 pm EST and engage in a Fireside Chat at the Canaccord Genuity MedTech & Diagnostics Forum on November 19, 2020, at 11:30 am EST. Exagen focuses on innovative testing for autoimmune diseases and aims to improve care through its AVISE® brand products.
Exagen Inc. (Nasdaq: XGN) has partnered with Brigham and Women’s Hospital to study the incidence and risk factors of rheumatic autoimmune diseases in COVID-19 survivors. The year-long study will involve positive PCR-confirmed COVID-19 patients categorized by disease severity. Participants will complete questionnaires and undergo testing with AVISE® biomarkers to assess new rheumatic disease symptoms and autoantibody formation. This research aims to clarify the association between COVID-19 recovery and autoimmune disease development, addressing current knowledge gaps in this area.
Exagen Inc. (Nasdaq: XGN) will announce its financial results for the quarter ending September 30, 2020, on November 10, 2020, after market close. The conference call, led by CEO Ron Rocca and CFO Kamal Adawi, will begin at 4:30 PM ET. Investors can join the call by dialing (877) 407-3982 or via webcast on the Exagen investor relations website. A replay will be accessible until November 17, 2020. Exagen focuses on enhancing care for patients with autoimmune diseases through innovative testing products under its AVISE® brand.
Exagen Inc. (XGN) announced participation in the ACR Convergence 2020, a virtual meeting scheduled from November 5-9, where its research on autoimmune diseases, specifically lupus, will be presented. Chief Scientific Officer Anja Kammesheidt emphasized their commitment to advancing understanding of cell-bound complement activation products (CB-CAPs). Several abstracts have been accepted for presentation, showcasing innovative testing products under the AVISE® brand. This event is anticipated to enhance awareness and adoption of Exagen's diagnostics.
Exagen Inc. (Nasdaq: XGN) announced a study published in ACR Open Rheumatology, assessing the economic benefits of AVISE® Lupus testing for systemic lupus erythematosus (SLE). This is the first evaluation comparing AVISE® Lupus with standard diagnostic tests among 1,000 suspected SLE patients, revealing total direct cost savings of $1,991,152, or approximately $1,991 per patient over four years. Year one savings stood at $655,403. The study underscores the importance of early diagnosis in improving patient outcomes and reducing costs for health plans.
Exagen Inc. (Nasdaq: XGN) has announced a partnership with Provider Network of America (PNOA), providing in-network access to over 8 million members for its AVISE® tests designed for autoimmune diseases like rheumatoid arthritis and lupus. PNOA, with contracts across 526 payers and access to 375,000 physicians, aims to enhance diagnostic accuracy and patient care. The partnership is seen as a major step in Exagen's reimbursement strategy, promoting widespread adoption of AVISE® testing and potentially improving outcomes for patients suffering from autoimmune conditions.
Exagen Inc. (Nasdaq: XGN) has announced a preferred provider network agreement with Provider Network of America (PNOA), allowing over 8 million PNOA members in the U.S. to access Exagen's AVISE® tests for autoimmune disorders like rheumatoid arthritis and lupus. This partnership aims to enhance the timely diagnosis and treatment of these conditions, which often take years to diagnose accurately. The agreement is expected to support Exagen's reimbursement strategy and promote broader adoption of its testing products within the healthcare industry.
Exagen Inc. (Nasdaq: XGN) announced the appointment of Wendy S. Johnson as an independent member to its Board of Directors, effective October 1, 2020. Ms. Johnson, who will also serve on the Audit Committee, brings significant healthcare industry experience, including her role as COO at Reneo Pharmaceuticals. This strategic addition aims to support Exagen's growth strategy and enhance its patient-focused culture, reinforcing its commitment to improving care for patients with autoimmune diseases.
Exagen Inc. (Nasdaq: XGN) has launched the AVISE® Vasculitis AAV testing panel, aimed at improving the diagnosis and monitoring of ANCA-associated vasculitis (AAV). This test enhances Exagen’s AVISE® portfolio, designed to provide rapid results vital for patient care in autoimmune diseases. As stated by CEO Ron Rocca, this initiative aligns with Exagen's commitment to meet high unmet needs in the rheumatology field. The introduction of this new product underscores the company’s strategy to expand its diagnostic offerings and serve rheumatologists more effectively.
FAQ
What is the current stock price of Exagen (XGN)?
What is the market cap of Exagen (XGN)?
What is Exagen Inc. known for?
Where is Exagen Inc. located?
What recent partnerships has Exagen Inc. entered into?
How did Exagen Inc. perform financially in Q3 2023?
What is the Avise® brand?
How does Exagen Inc. contribute to personalized medicine?
What is Exagen's mission?
What was Exagen's adjusted EBITDA for Q3 2023?
What resources does Exagen offer for lupus awareness?
How can I contact Exagen Inc. for investor relations?
