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 (Nasdaq: XGN) will announce financial results for Q2 2022 on August 4, 2022, post-market. A conference call led by CEO Ron Rocca and CFO Kamal Adawi is scheduled for 4:30 PM ET. Participants can join via phone or webcast through Exagen's investor relations website. A replay of the call will be accessible until August 18, 2022. Exagen specializes in autoimmune diagnostics and is focused on enhancing precision medicine through its AVISE® testing and ongoing product pipeline development.
Exagen Inc. (Nasdaq: XGN) announced findings from the CAPSTONE study, the largest comparative utility study in lupus diagnosis, published in the Journal of Managed Care & Specialty Pharmacy. The study assessed nearly 50,000 patient tests comparing the AVISE Lupus test with traditional ANA testing. Key findings include a 2x reduction in diagnostic testing costs and 3.5x less frequent repeat testing for AVISE, along with 6x higher odds of establishing a new diagnosis and 3x higher odds for initiating treatment with AVISE. These results confirm the test's efficacy in improving patient outcomes and reducing costs.
Exagen Inc. (Nasdaq: XGN) announced a partnership with MediNcrease Health Plans, effective July 1, 2022, enhancing access to AVISE® tests for approximately 7.5 million lives covered by MediNcrease. This collaboration aims to provide timely and accurate diagnoses for autoimmune diseases, particularly Systemic Lupus Erythematosus (SLE). Exagen's President highlighted the importance of early diagnosis in preventing organ damage, while MediNcrease emphasized its commitment to expanding specialized diagnostic testing solutions.
Exagen Inc. (Nasdaq: XGN), a leader in autoimmune testing solutions, will participate in the William Blair 42nd Annual Growth Stock Conference from June 6-9, 2022, in Chicago. The presentation by CEO Ron Rocca and CFO Kamal Adawi is scheduled for June 9 at 12:40 PM CT. Investors can access the live webcast through Exagen's website. The company focuses on precision medicine and invests in its product pipeline to enhance autoimmune diagnosis and treatment.
Exagen Inc. (Nasdaq: XGN) announced a significant partnership with Alivio Health, enhancing care for 150,000 members by offering AVISE® CTD and AVISE® Lupus as contracted covered services. This collaboration aims to facilitate more accurate diagnoses of complex autoimmune diseases, particularly Systemic Lupus Erythematosus (SLE), which can take an average of six years to confirm. By improving access to accurate testing, early detection and treatment of lupus are prioritized, potentially reducing the risk of irreversible organ damage.
Exagen Inc. (Nasdaq: XGN) announced that Noridian, a Medicare Administrative Contractor, has established pricing for AVISE® Lupus following the approval of the PLA code 0312U by the AMA. Effective April 1, 2022, this code signifies the test's proprietary nature, combining Cell-Bound Complement Activation Products (CB-CAPs) with an SLE-likelihood assessment. CEO Ron Rocca emphasized that this milestone enhances accessibility to AVISE Lupus, promoting better autoimmune disease diagnosis.
Exagen Inc. (Nasdaq: XGN) reported its first-quarter 2022 results, achieving total revenue of $10.4 million, slightly down from $10.6 million in the prior year. The flagship AVISE® CTD test generated $8.7 million, with a 6.5% volume increase. A record 30,903 tests were delivered, and the number of ordering healthcare providers reached 2,175. Despite this growth, gross margin fell to 44.0% from 55.5% due to higher costs. The net loss widened to $10.3 million. Exagen now expects full-year revenue between $53 million and $55 million, raising previous guidance.
Exagen Inc. (Nasdaq: XGN) announced a five-week awareness campaign for Lupus Awareness Month, beginning May 2022. Each week will focus on a different theme: Diagnosis, Advocacy, Community, Research, and Motivation. This initiative aims to raise awareness about lupus and features partnerships with the Lupus Foundation of America and patient advocates. CEO Ron Rocca emphasized the importance of increasing awareness and improving diagnosis for lupus patients.
Exagen Inc. (Nasdaq: XGN) will release its financial results for Q1 2022 on May 11, 2022, after market close. The call, hosted by CEO Ron Rocca and CFO Kamal Adawi, will begin at 4:30 PM ET. Interested parties can join via phone or webcast. Exagen focuses on autoimmune testing solutions, aiming to improve patient care through its AVISE® testing products, particularly for conditions like rheumatoid arthritis and lupus. For further details, visit their investor relations website.
Exagen Inc. (Nasdaq: XGN) will participate in the Investor Summit Group’s Q2 Conference in New York City on May 3-4, 2022. The company's President and CEO, Ron Rocca, along with CFO Kamal Adawi, will present on May 4 at 2:00 PM ET. Interested parties can access the webcast on Exagen’s website. Exagen focuses on autoimmune testing solutions to improve patient care through enhanced diagnosis and therapy optimization. The company is known for its AVISE® testing products and proprietary technology aimed at aiding rheumatologists in managing autoimmune diseases.
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?
