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) announced its participation in the Cantor Fitzgerald Virtual Global Healthcare Conference from September 15-17, 2020. Ron Rocca, President and CEO, will speak in a fireside chat on September 15 at 2:40 pm EDT. Investors can access a live webcast of the event through Exagen's investor relations page, with a replay available for 90 days post-event. Exagen focuses on transforming care for patients with autoimmune diseases, offering innovative testing products under the AVISE® brand to enhance differential diagnosis and therapeutic intervention.
Exagen Inc. (Nasdaq: XGN) announced a collaboration with the Hospital for Special Surgery (HSS) in New York City to conduct a proof-of-concept study focusing on antiphospholipid syndrome (APS). This project aims to investigate complement activation markers and other biomarkers in aPL-positive patients. The partnership reflects Exagen's commitment to enhance research and patient care in autoimmune diseases. The study will be led by Dr. Doruk Erkan at HSS, a top-ranked institution in rheumatology. Exagen continues to develop innovative testing products under its AVISE® brand, targeting various autoimmune disorders.
On July 30, 2020, Exagen (Nasdaq: XGN) announced that CEO Ron Rocca will present at the Canaccord Genuity 40th Annual Growth Conference on August 12, 2020, at 2:00 pm EDT. This year's conference will be virtual, and interested individuals can access the webcast through Exagen's investor relations website. Exagen is focused on transforming care for autoimmune disease patients, offering innovative testing products under the AVISE® brand to aid in diagnosis and treatment.
Exagen Inc. (Nasdaq: XGN) reported its financial results for Q2 2020, revealing total revenue of $8.9 million, down from $10.5 million in Q2 2019. Testing revenue experienced a decline to $6.8 million due to COVID-19 impacts. However, gross margin improved to 63%, up from 52% a year earlier, primarily due to increased SIMPONI® revenues. The company recorded a net loss of $3.4 million, widening from a loss of $2.8 million in 2019. Monthly testing volumes saw sequential improvement in May and June 2020, indicating recovery as patient visits resumed.
Exagen Inc. (Nasdaq: XGN) has announced that its AVISE test offerings will be available as a contracted service through TRICARE East, managed by Humana Military. This agreement will make AVISE tests accessible to around 6 million beneficiaries, aiming to enhance the diagnosis and monitoring of autoimmune diseases such as lupus. CEO Ron Rocca emphasized the importance of these tests in supporting rheumatologists to improve patient care.
As Exagen seeks to revolutionize the care for autoimmune disease patients, the company expects to gain greater market acceptance of its innovative testing products.
Exagen Inc. (Nasdaq: XGN) will announce financial results for Q2 2020 on July 28, 2020, before market open. The call, hosted by CEO Ron Rocca and CFO Kamal Adawi, is set for 8:00 AM ET (5:00 AM PT). Interested parties can join via phone or webcast through Exagen's investor relations site. A replay will be available until August 4, 2020. Exagen focuses on enhancing care for autoimmune disease patients through advanced testing products, optimizing diagnosis, and treatment strategies.
Exagen Inc. (Nasdaq: XGN) has announced an exclusive license agreement with the Ohio State Innovation Foundation to develop a novel blood test for diagnosing fibromyalgia. This test aims to differentiate fibromyalgia from conditions like rheumatoid arthritis and lupus, potentially addressing the needs of around 12 million undiagnosed patients in the U.S. The technology, based on recent research, could enhance early diagnosis and treatment, thereby reducing misdiagnoses related to autoimmune diseases. Exagen’s commitment is to innovate in autoimmune diagnostics for better patient outcomes.
Exagen Inc. (Nasdaq: XGN) announced a collaborative clinical trial with Duke University to study biomarkers in lupus patients. This prospective study aims to evaluate the AVISE panel and Cell-Bound Complement Activation Products (CB-CAPs) to differentiate between Type 1 and Type 2 systemic lupus erythematosus (SLE). By integrating patient-reported measures, the trial seeks to enhance personal medicine approaches for lupus care, potentially improving patient outcomes. Exagen aims to optimize therapeutic interventions for autoimmune diseases through its proprietary technologies.
Exagen Inc. (Nasdaq: XGN) announced that Ron Rocca, President and CEO, will present at the William Blair 40th Annual Growth Stock Conference on June 9 at 1:20 PM CDT. This year's conference will be virtual, and a live webcast of the presentation will be accessible via the Exagen investor relations website. A replay will be available about one hour after the event concludes. Exagen focuses on transforming care for patients with autoimmune diseases through innovative testing products, including those based on proprietary CB-CAPs technology.
Exagen Inc. (Nasdaq: XGN) reported its financial results for Q1 2020, showing total revenue of $9.6 million, up from $9.3 million in Q1 2019. The company delivered 27,126 AVISE® CTD tests, a 13% increase over the previous year, while the number of ordering healthcare providers grew by 28% year-over-year. However, operating expenses rose to $14.8 million, leading to a net loss of $5.6 million, compared to $2.7 million in Q1 2019. Cash reserves stood at approximately $68.6 million as of March 31, 2020.
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