Exagen Inc. Stock Price, News & Analysis

Exagen Inc. (Nasdaq: XGN), a leading autoimmune testing solutions provider, reported strong Q2 2025 financial results with record revenue of $17.2 million, representing 14% growth year-over-year. The company achieved significant milestones including a 14% increase in AVISE CTD test volume compared to Q1 2025 and an expanded ASP of $428.

Key financial metrics include a gross margin of 60.4% and operating expenses of $13 million. The company strengthened its financial position through a $20.2 million public offering and ended Q2 with $30.2 million in cash. Management provided full-year 2025 revenue guidance of $65-70 million, expecting positive adjusted EBITDA at the high end in Q4.

Notable corporate updates include the appointments of Dr. Michael Mahler as CSO and Chas McKhann to the Board of Directors.

Exagen Inc. (NASDAQ: XGN), a provider of autoimmune testing solutions, has appointed Chas McKhann to its Board of Directors, effective July 17, 2025. McKhann brings over 25 years of life sciences industry experience, having served as President and CEO of Silk Road Medical and Apollo Endosurgery, both successfully acquired by Boston Scientific.

McKhann's extensive background includes roles as Chief Commercial Officer at Torax Medical and Intersect ENT, along with significant experience in leading turnaround and transformational growth at medical technology companies. He holds degrees from Stanford University, including an M.B.A.

Exagen (NASDAQ: XGN), a leader in autoimmune testing, has scheduled its Q2 2025 financial results announcement for July 29, 2025, before market opening. The company will host a conference call at 8:30 AM ET featuring CEO John Aballi and CFO Jeff Black.

Investors can join via phone (201-389-0918 U.S. or +1-877-407-0890 international) or through the webcast link on Exagen's investor relations website. A replay will be available until August 12, 2025, accessible by phone using passcode 13753132 or through the company website.

Exagen (XGN) has appointed Dr. Michael Mahler as Chief Scientific Officer to enhance its autoimmune diagnostics leadership. Dr. Mahler, who earned his Ph.D. from the University of Heidelberg, brings over 20 years of experience in immunology and autoimmune research. His impressive background includes collaboration with autoimmune research pioneers at the Scripps Research Institute and previous role as Senior VP of Research Development at Werfen. With over 300 peer-reviewed publications and multiple patents, Dr. Mahler's expertise in autoantigen discovery and diagnostic innovation will drive Exagen's strategic initiatives in precision diagnostics for autoimmune diseases.

Exagen Inc. (XGN) has successfully completed its public offering, raising approximately $20.2 million in gross proceeds. The offering included the sale of 3,350,000 shares of common stock, plus an additional 502,500 shares due to the full exercise of the underwriter's option, all priced at $5.25 per share. The transaction closed on May 9, 2025, with Canaccord Genuity acting as the sole bookrunner. The offering was conducted under Exagen's shelf registration statement previously filed with the SEC.

Exagen Inc. (XGN) has announced the pricing of its public offering of 3,350,000 shares of common stock at $5.25 per share. The offering is expected to generate gross proceeds of $17.6 million before deducting underwriting discounts and expenses. The company has granted underwriters a 30-day option to purchase up to an additional 502,500 shares under the same terms.

The offering, scheduled to close on May 9, 2025, is being conducted through Canaccord Genuity as the sole bookrunner. The public offering is made pursuant to a shelf registration statement on Form S-3 that was declared effective by the SEC on November 29, 2023.

Exagen Inc. (XGN), an autoimmune testing solutions provider, has announced a proposed public offering of common stock. The company plans to grant underwriters a 30-day option to purchase up to an additional 15% of the offered shares. Canaccord Genuity will serve as the sole bookrunner for the offering. The offering will be conducted through a shelf registration statement on Form S-3 that was filed with the SEC on November 17, 2023, and declared effective on November 29, 2023. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.

Exagen reported record Q1 2025 revenue of $15.5 million, driven by growth in AVISE CTD test volume and expanded average selling price (ASP). The company's trailing twelve-month ASP increased to $419, up $42 per test compared to Q1 2024. Despite revenue growth, Exagen posted a net loss of $3.75 million and adjusted EBITDA loss of $2.51 million. The company ended Q1 with $11.2 million in cash and secured a $25 million credit facility with Perceptive Advisors in April. Key developments include the launch of new SLE and RA biomarkers, publication of T-cell research, and commercial expansion plans. Exagen provided 2025 guidance of at least $65 million in revenue and expects positive adjusted EBITDA by Q4 2025.

Exagen Inc. (XGN) has secured a senior secured credit facility of up to $75 million with Perceptive Advisors The company received an initial $25 million tranche at closing to refinance existing debt with Innovatus Capital Partners and strengthen its balance sheet.

The facility includes additional tranches:

• $10 million available through March 2026 (revenue milestone-based)
• $10 million through December 2026 (revenue milestone-based)
• $30 million through March 2027 for business development initiatives

The loan terms include Term SOFR + 7% interest (SOFR floor 4.75%), 60-month interest-only payments, and warrants for 400,000 shares initially, with potential for 750,000 additional warrants tied to future tranches. The loan is secured by substantially all of Exagen's assets.