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) plans to release its financial results for Q1 2023 on May 15, 2023, after market close. The conference call to discuss these results will be hosted by CEO John Aballi and CFO Kamal Adawi at 4:30 PM ET. Analysts and investors can join the call by dialing the provided numbers or accessing it via the Exagen investor relations website. A replay will be available until May 29, 2023. Exagen specializes in autoimmune diagnostic solutions and aims to enhance precision medicine through its AVISE® testing products.
Exagen Inc. (Nasdaq: XGN) announced fourth quarter and full year 2022 financial results, achieving a record 135,210 AVISE® CTD tests. Total revenue for 2022 was $45.6 million, down from $48.3 million in 2021. The fourth quarter saw revenues of $12.8 million, slightly up from $12.7 million year-over-year. However, gross margin dropped to 50.9% from 61.1% due to increased costs. Operating expenses rose to $27.3 million, influenced by a one-time goodwill impairment and severance charges. The net loss for 2022 was $47.4 million, compared to a loss of $26.9 million in 2021. The company raised its revenue guidance for the first quarter of 2023 to $9.2-$9.7 million.
Exagen Inc. (Nasdaq: XGN) will announce its financial results for the fourth quarter and full year ended December 31, 2022, on March 20, 2023, after market close. CEO John Aballi and CFO Kamal Adawi will discuss these results in a conference call at 4:30 PM ET. Interested listeners can dial (201) 389-0918 for U.S. participants or (877) 407-0890 for international attendees. A replay will be available until April 3, 2023. Exagen specializes in autoimmune diagnostic testing solutions, focusing on precision medicine to assist patients and healthcare providers.
Exagen Inc. (Nasdaq: XGN), a leader in autoimmune testing solutions, announced its participation in two investor conferences in March 2023. The first is the Cowen 43rd Annual Health Care Conference from March 6-8, where CEO John Aballi and CFO Kamal Adawi will engage in a fireside chat on March 6 at 10:30 AM ET. The second is a virtual participation in the KeyBanc Capital Markets Life Sciences & MedTech Investor Forum on March 21-22, with a separate chat on March 22 at 1:30 PM ET. Interested parties can access the live webcasts through Exagen’s website.
SAN DIEGO, Jan. 30, 2023 (GLOBE NEWSWIRE) -- Exagen (Nasdaq: XGN), an innovator in autoimmune testing, will participate in the BTIG MedTech Conference from February 14-16, 2023, in Snowbird, UT. The company will hold one-on-one meetings with investors, available through BTIG. Exagen aims to enhance precision medicine with its AVISE® testing solutions, assisting patients and healthcare providers in autoimmune diagnostics and treatments. The company is situated in San Diego County, with labs in Vista, CA, and is committed to advancing its product pipeline to better serve patient needs.
Exagen Inc. (Nasdaq: XGN) announced the election of Tina S. Nova, Ph.D. as Executive Chair of the Board of Directors, effective January 19, 2023. Dr. Nova succeeds Brian Birk, who will continue as a Board member. She brings extensive experience from her roles as President of Veracyte's U.S. CLIA business and former CEO of Decipher Biosciences. Dr. Nova's leadership is expected to strengthen Exagen's position in autoimmune testing solutions. Birk played a key role in the company’s growth since 2018. The company is focused on enhancing diagnostic solutions for autoimmune diseases.
Exagen Inc. (XGN) reported Q3 2022 financial results with total revenue of $14.7 million, up from $12.3 million in Q3 2021. The flagship AVISE® CTD test generated $12.8 million in revenue. Test deliveries increased by 12% year-over-year, totaling 35,569 tests. The company increased its full-year revenue guidance to $40-$43 million. Despite these gains, operating expenses rose to $22.5 million, resulting in a net loss of $8.1 million. Notably, Medicare resumed reimbursement for AVISE Lupus claims, dating back to Q2 2022.
Exagen (Nasdaq: XGN), a leader in autoimmune testing solutions, announced its participation in two upcoming investor conferences. The first is the Canaccord Genuity MedTech, Diagnostics and Digital Health & Services Forum on November 17, 2022, in New York. The second is a panel presentation at the Cantor Fitzgerald Medical & Aesthetic Dermatology Conference on December 8, 2022, in Miami Beach, focusing on novel diagnostic tests. Exagen emphasizes its commitment to precision medicine through innovative testing solutions.
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