GeneDx Holdings Corp Stock Price, News & Analysis

GeneDx (Nasdaq: WGS), a leader in genomic and clinical insights, has announced it will release its financial results for Q1 2023 on May 9, 2023, after market close. The event will include a conference call at 4:30 p.m. ET, hosted by President Katherine Stueland and CFO Kevin Feeley. Investors can register online to participate in the call, with both live and archived webcasts available on the GeneDx investor relations website.

GeneDx focuses on providing personalized health insights that inform diagnoses and treatment options, utilizing one of the largest rare disease data sets to support precision medicine. The company's efforts aim to enhance drug discovery and advance healthcare standards.

GeneDx (Nasdaq: WGS) announced the appointment of Devin K. Schaffer as General Counsel, effective April 24, 2023. Schaffer, with 15 years of legal experience, previously held leadership roles at Cardinal Health. As General Counsel, he will oversee all legal, compliance, and regulatory aspects for GeneDx. Katherine Stueland, President and CEO, expressed enthusiasm for Schaffer's addition to the executive leadership team, highlighting his ability to solve complex problems. His expertise aligns with GeneDx’s mission to enhance genomic insights and expand their healthcare offerings.

GeneDx Holdings Corp (Nasdaq: WGS) announced progress in the GUARDIAN study, which is screening 100,000 newborns for over 250 genetic conditions. To date, 1,000 newborns have been enrolled, with 2.6% showing true positive results for rare genetic disorders not part of standard newborn screening. The data presented at the ACMG Annual Meeting highlight the importance of whole genome sequencing (WGS) in early diagnosis, which could save approximately $30,000 per case by reducing unnecessary NICU care. GeneDx aims to make genomic sequencing a standard practice for newborn screening.

GeneDx Holdings Corp. (Nasdaq: WGS) announced significant findings at the ACMG Annual Clinical Genetics Meeting, highlighting the enhanced effectiveness of exome sequencing in reducing diagnostic delays. The research analyzed data from over 8,000 patients, revealing a 93.4% detection rate of copy number variants (CNVs) through exome sequencing, outperforming chromosomal microarray (CMA) tests. Notably, exome sequencing identified CNVs in 1.3% of CMA-negative cases, emphasizing its superiority. With the largest rare disease dataset, GeneDx aims to streamline diagnostics for congenital anomalies, developmental delays, and intellectual disabilities, positioning exome sequencing as the first-tier testing method.

GeneDx Holdings Corp. (Nasdaq: WGS) reported its 2022 financial results, showing pro forma revenues from continuing operations increased by 32% year-over-year to $45.8 million for Q4 2022 and 38% to $171 million for the full year. The company reiterated its 2023 guidance of $205-220 million in revenue and plans to achieve profitability by 2025. Despite a net operating loss of $324.8 million for Q4 2022 and $667.6 million for the full year, GeneDx expressed confidence in its growth strategy targeting pediatric rare diseases and enhancing genomic sequence analysis. The company closed a public offering in January 2023, raising $150 million.

GeneDx (Nasdaq: WGS) announced participation in the Cowen 43rd Annual Healthcare Conference on March 7, 2023, in Boston, MA. CEO Katherine Stueland will engage in a fireside chat at 2:50 p.m. ET. The event is expected to highlight the company’s advancements in genomic and clinical insights aimed at enhancing health outcomes.

A live and archived webcast of the discussion will be accessible through the 'Events' section of the GeneDx investor relations website. GeneDx specializes in precision medicine, utilizing genomic data to improve diagnosis and treatment options. For further information, visit the GeneDx website.