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. develops and commercializes autoimmune diagnostic testing products under the AVISE brand. The company’s flagship AVISE CTD test is used by clinicians in evaluating complex rheumatic and autoimmune diseases, including lupus, rheumatoid arthritis and Sjögren’s disease, and its CLIA-certified, CAP-accredited laboratory specializes in rheumatic disease testing.
Recurring news for XGN includes quarterly and annual financial results, AVISE CTD test volume, average selling price, revenue, gross margin and cash updates. Company announcements also cover autoimmune biomarker research, additions to the AVISE testing portfolio, conference participation and corporate updates tied to Exagen’s diagnostics business.
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.
Exagen Inc. (Nasdaq: XGN) is set to announce its financial results for Q3 2022 on November 14, 2022, after market close. The company specializes in autoimmune testing solutions and will conduct a conference call at 4:30 PM ET to discuss the results, featuring CEO John Aballi and CFO Kamal Adawi. Interested parties can join via phone or webcast through the Exagen investor relations website. A replay will be available until November 28, 2022. Exagen remains focused on enhancing precision medicine through its innovative AVISE® testing.
Exagen Inc. (Nasdaq: XGN) has appointed John Aballi as its new CEO and President, succeeding Ron Rocca, who led the company for 11 years. Aballi brings extensive experience in the clinical diagnostics sector, previously serving at Veracyte, where he increased urology unit revenue to over $120 million annually. His leadership is expected to drive Exagen's growth in the autoimmune diagnostic field. Rocca is credited with establishing Exagen as a leader in rheumatology diagnostics. Aballi takes on his new role immediately.
Exagen Inc. (Nasdaq: XGN) announced the appointment of Dr. Andrew L. Concoff as Chief Innovation Officer, effective October 4, 2022. Dr. Concoff will oversee the company's rheumatoid arthritis initiatives, focusing on the AVISE® RADR platform. His extensive experience in rheumatology and leadership will drive strategy, business development, and innovative partnerships. This move highlights Exagen's commitment to addressing unmet needs in autoimmune diagnostics and emphasizes the company's focus on precision medicine for better patient outcomes.