GeneDx Holdings Corp Stock Price, News & Analysis

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.

GeneDx (Nasdaq: WGS) will report its financial results for Q4 and full year 2022 on March 14, 2023, after the market closes. A conference call featuring CEO Katherine Stueland and CFO Kevin Feeley will follow at 4:30 PM ET to discuss the company's financial and operational performance. GeneDx specializes in genomic and clinical insights, aiming to enhance health outcomes via precision medicine. The company is well-positioned in the healthcare sector, leveraging extensive rare disease data for its genomic testing and interpretation services.

GeneDx Holdings Corp. (Nasdaq: WGS) has published research in Nature Genetics, highlighting the significance of genetic insights in drug discovery. The study focuses on two-pore-domain potassium channels in rare diseases, particularly a newly identified condition linked to sleep apnea. Sleep apnea affects around 30 million Americans and poses a major health issue. The findings may lead to new therapeutic options for both the rare condition and common sleep apnea. GeneDx aims to leverage its extensive genomic data to enhance drug development and improve patient outcomes by connecting with biopharmaceutical companies.

GeneDx Holdings Corp. (Nasdaq: WGS) has successfully closed its underwritten public offering and a concurrent direct offering, raising approximately $150 million. The offerings included 406,419,805 shares of Class A common stock sold at $0.35 per share. The net proceeds will primarily fund general corporate purposes, working capital, and strategic investments. The issuance of 22,336,624 additional shares is pending stockholder approval to meet Nasdaq requirements. Jefferies acted as the book-running manager while Cowen served as a financial advisor for the offerings.

In 2022, GeneDx (Nasdaq: WGS) submitted 22% of total candidate gene submissions to GeneMatcher, enhancing disease gene discovery. The company revealed its commitment to addressing the diagnostic challenges faced by critically ill patients through its extensive rare-disease dataset, which includes over 400,000 clinical exomes and 2.7 million phenotypes. GeneDx contributed to 151 publications in peer-reviewed journals and collaborated on 63 publications focused on new or expanded disease-gene associations. These efforts aid in improving diagnosis rates and treatment plans for patients, showcasing GeneDx's dedication to precision medicine.

GeneDx Holdings Corp. (Nasdaq: WGS) has priced an offering of 428,571,429 shares of Class A common stock at $0.35 per share, totaling anticipated gross proceeds of $150 million. The offering comprises 328,571,429 shares through an underwritten public offering and 100,000,000 shares via a registered direct offering to institutional investors. The direct offering includes shares subject to stockholder approval to meet Nasdaq requirements. The funds will primarily be used for general corporate purposes, including working capital, debt repayment, and strategic investments. The closings are scheduled for January 31, 2023, pending customary conditions.

GeneDx Holdings Corp. (Nasdaq: WGS) announced plans for an underwritten public offering of its Class A common stock, with an expected total gross proceeds of approximately $150 million. The offering will include a 30-day option for the underwriter to purchase an additional 15% of the shares. Concurrently, GeneDx will offer shares to institutional investors affiliated with its board members. The proceeds from these offerings will primarily fund general corporate purposes such as working capital, debt repayment, and strategic investments. Jefferies is the book-running manager for the public offering.