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GeneDx Holdings Corp. reports developments in genomic testing for rare disease diagnosis, with recurring updates on ExomeDx™ and GenomeDx™ testing, exome and genome test volumes, revenue growth, and full-year outlooks. The company uses GeneDx Infinity™, a rare disease genomic dataset, to support clinical interpretation, AI-enabled variant analysis, and biopharma discovery.
Company news also covers research publications and medical-meeting abstracts, health economics studies involving whole exome and whole genome sequencing, sponsored genetic testing programs for suspected rare diseases, and partnerships intended to expand access to genomic diagnosis. Updates frequently connect clinical data, sequencing technology, and rare disease patient identification with the company's precision-medicine operating model.
GeneDx (Nasdaq: WGS), a leader in genomic insights for improved health outcomes, has announced it will release its third quarter 2024 financial results before the market opens on Tuesday, October 29, 2024. The company will host a conference call at 8:30 a.m. Eastern Time on the same day to discuss the results.
Investors interested in participating in the conference call must register online. A live and archived webcast of the event will be available on the 'Events' section of GeneDx's investor relations website at https://ir.genedx.com/.
GeneDx specializes in rare disease diagnostics, offering exome and genome tests that translate complex genomic data into clinical answers. The company aims to provide personalized, targeted medical care through genetic diagnosis.
GeneDx (Nasdaq: WGS), a leader in genomic insights for improved health outcomes, has announced the granting of 7,700 restricted stock units (RSUs) to two newly hired employees. The grants, effective September 23, 2024, were approved by the compensation committee of GeneDx's board of directors as inducement awards under the company's 2023 Equity Inducement Plan.
The RSUs will vest in equal annual installments over four years, contingent on continued employment. Each RSU represents the right to receive one share of GeneDx's Class A Common Stock upon settlement. This action aligns with Nasdaq Listing Rule 5635(c)(4), which allows for equity grants to new employees without shareholder approval.
GeneDx (Nasdaq: WGS), a leader in genomic insights, announced its participation in upcoming investor conferences. The company will attend the UBS Genomic Medicine Summit (August 13-14, 2024), Morgan Stanley Healthcare Conference (September 4-6, 2024), Wells Fargo Healthcare Conference (September 4-6, 2024), and Jefferies London Healthcare Conference (November 19-21, 2024).
GeneDx will participate in a panel discussion on the Future of Genetic Testing at the UBS summit and hold a fireside chat at the Wells Fargo conference. Select presentations will be available via webcast on the company's investor relations website. GeneDx specializes in rare disease diagnostics, offering exome and genome tests to provide personalized healthcare solutions and accelerate drug discovery.
GeneDx (Nasdaq: WGS), a leader in genomic insights for improved health outcomes, has granted 75,100 restricted stock units (RSUs) to seven newly hired employees as inducement awards. The RSUs, granted under GeneDx's 2023 Equity Inducement Plan and in compliance with Nasdaq Listing Rule 5635(c)(4), will vest in equal annual installments over four years, subject to continued employment. Each RSU represents a right to receive one share of GeneDx's Class A Common Stock upon settlement. The company typically uses a 'sell to cover' transaction to address tax withholding obligations upon vesting and settlement of RSUs.
GeneDx (Nasdaq: WGS) has announced significant enhancements to its Whole Genome Sequencing (WGS) offering, aimed at accelerating diagnoses for patients. The improvements include:
- Faster turnaround time for Rapid WGS (rWGS), providing written results in as soon as 5 days
- Addition of buccal swab (cheek swab) sample collection option for WGS patients
- Expansion of repeat expansions covered by WGS to increase diagnostic yield
These enhancements, combined with GeneDx's extensive dataset of over 665,000 sequenced clinical exomes and genomes, are expected to improve the accessibility and effectiveness of WGS for diagnostic purposes, ultimately leading to better health outcomes for patients with rare and common diseases.
GeneDx (Nasdaq: WGS) reported strong Q2 2024 financial results, with revenue from continuing operations reaching $68.9 million, a 52% year-over-year increase. Exome and genome test revenue grew 77% to $50.7 million. Adjusted gross margin expanded to 62%, while adjusted net loss narrowed to $2.7 million. The company raised its full-year 2024 revenue guidance to $255-$265 million and reiterated its expectation to reach profitability in 2025.
Key highlights include a 52% year-over-year increase in exome and genome test volume, expanded Medicaid coverage for whole exome sequencing, and new collaborations to enhance access to rapid whole genome sequencing. GeneDx also announced reinvestment in whole genome sequencing products, improving turnaround times and sample collection methods.
GeneDx (Nasdaq: WGS) will report its financial results for the second quarter of 2024 after the market closes on Tuesday, July 30, 2024. A conference call to discuss these results will be held at 4:30 p.m. Eastern Time on the same day. Investors can register to listen to the call online, and a live and archived webcast will be available on the GeneDx investor relations website. GeneDx specializes in genomic insights, offering exome and genome tests to enhance personalized health care and drug discovery. For more information, visit genedx.com.
GeneDx (Nasdaq: WGS) has announced a collaboration with Epic to expand access to rapid whole genome sequencing (rWGS) services in neonatal intensive care units (NICUs). This integration will streamline access for health systems using Epic's electronic health records, improving provider and patient experiences. GeneDx aims to accelerate the adoption of rWGS services, which have seen an 80% year-over-year increase. The company highlights that 11 states now offer Medicaid coverage for rWGS, alongside growing commercial payor support. The collaboration will allow seamless integration of rWGS results into comprehensive medical records, enhancing patient care. GeneDx is also involved in the SeqFirst study at the University of Washington, investigating the impact of broad access to rWGS. The study aims to improve timely and effective treatments for critically ill infants. With over 600,000 exomes and genomes sequenced, GeneDx continues to lead in genomic insights, aiming to deliver better health outcomes.
GeneDx (Nasdaq: WGS) has announced a new patient access program to increase accessibility to exome sequencing for pediatric epilepsy patients. The program, developed with biopharma partners, aims to provide equitable care and overcome cost barriers for genetic testing. Exome testing, recommended as a first-line test by the National Society of Genetic Counselors and endorsed by the American Epilepsy Society, offers a nearly 25% diagnostic rate for epilepsy, higher than traditional multi-gene panels. Research indicates that genetic diagnoses can lead to up to 90% seizure reduction in some cases. The program will launch to select providers today, with full availability in July.
GeneDx (Nasdaq: WGS) announced its participation in two upcoming investor conferences in June 2024. The company will present at the Jefferies Healthcare Conference in New York City on June 5 at 9:00 a.m. ET and at the 44th Annual Goldman Sachs Global Healthcare Conference in Miami, Florida on June 10 at 3:20 p.m. ET. Live and archived webcasts of the presentations will be accessible on the GeneDx investor relations website. GeneDx focuses on delivering improved health outcomes through genomic insights and offers exome and genome tests to provide personalized health plans, accelerate drug discovery, and enhance health system efficiencies.