MDxHealth SA reports developments in urology-focused precision diagnostics, including molecular tests used in the diagnosis and prognosis of prostate cancer and other urologic diseases. The company’s test menu is based on genomic, epigenomic, exosomal and other molecular technologies and includes products such as Confirm mdx, GPS mdx, ExoDx, Select mdx and Resolve mdx.
Recurring news for MDXH includes financial results, revenue guidance, tissue-based and liquid-based test volumes, clinical data for the Genomic Prostate Score test, and collaborations with academic prostate cancer researchers. Company updates also cover the integration of Exosome Diagnostics, earnout and warrant arrangements tied to diagnostic-test acquisitions, and corporate governance or management changes.
MDxHealth SA (NASDAQ: MDXH), a commercial-stage precision diagnostics company, has announced it will release its financial results for the second quarter and first half of 2024 on August 21, 2024, after market close. The company will host a conference call with live Q&A at 4:30pm ET / 22:30 CET on the same day.
Key participants in the call will include Michael K. McGarrity, Chief Executive Officer, and Ron Kalfus, Chief Financial Officer. The conference call will be accessible via various dial-in numbers for different countries and a webcast link. A replay of the webcast will be available on the company's website following the live call.
MDxHealth (NASDAQ: MDXH) announced preliminary Q2 and half-year 2024 revenues, showing significant growth. Q2 revenue is estimated at $22.2 million, reflecting a 32% year-over-year increase, while half-year revenue is projected at $42 million, a 34% rise year-over-year. The company also raised its full-year 2024 revenue guidance from $83-85 million to $85-87 million, indicating a 23% year-over-year growth at the midpoint. As of June 30, 2024, MDxHealth's cash balance stood at $21.3 million. CEO Michael K. McGarrity expressed confidence in achieving adjusted EBITDA profitability by the first half of 2025. Full financial results will be disclosed on August 21, 2024.
Mdxhealth has appointed Sanford J. Siegel, M.D. to its Board of Directors, replacing Lieve Verplancke. Dr. Siegel brings over 45 years of urology experience and over 35 years of executive leadership. He currently chairs the Board of United Urology Group, which he helped establish, and has a notable history in leading urology organizations, including Chesapeake Urology Associates and the Large Urology Group Practice Association.
Siegel's expertise is expected to enhance mdxhealth’s precision diagnostics for prostate cancer. CEO Michael K. McGarrity and Board Chairman Koen Hoffman expressed enthusiasm for Siegel's insights and recognized Verplancke's contributions. Siegel emphasized the importance of advanced diagnostics in improving cancer treatment outcomes.
Mdxhealth, a commercial-stage precision diagnostics company, announced that CEO Michael K. McGarrity will present at two upcoming investor conferences in June 2024. The conferences are the William Blair 44th Annual Growth Stock Conference on June 5th at 5:00pm ET and the Jefferies Global Healthcare Conference on June 6th at 1:30pm ET. Both presentations will be webcast live and accessible through Mdxhealth's Investor page, with replays available for up to 60 days.
MDxHealth reported a 35% increase in year-over-year Q1 revenues to $19.8 million and raised its 2024 revenue guidance to $83-85 million. The company closed a new debt facility with OrbiMed, increasing its balance sheet flexibility. The CEO highlighted successful execution of growth strategy, strong demand for tests, and solid financial performance.
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DLA Piper represented Piper Sandler & Co. and Oppenheimer & Co. as lead book-running managers in the US$45 million IPO of MDxHealth (Nasdaq: MDXH), involving 3,750,000 American Depository Shares (ADSs) priced at US$12.00 each. The offering was structured around 37,500,000 ordinary shares, with an option for underwriters to purchase an additional 562,500 ADSs within 30 days. DLA Piper’s global capital markets team provided comprehensive advisory services for this transaction, enhancing MDxHealth's market presence.