Exagen Inc. - XGN STOCK NEWS

Exagen Inc. (Nasdaq: XGN) reported strong Q2 2024 results, raising guidance due to record performance. Key highlights include:

• Record total revenue of $15.1 million, up from $14.1 million in Q2 2023
• Gross margin improved to 60.1% from 58.7% year-over-year
• AVISE® CTD trailing twelve-month ASP increased 25.3% to $401
• Net loss reduced by 40.8% to $3.0 million
• Adjusted EBITDA loss improved by 53.5% to $1.6 million

The company raised its full-year 2024 revenue guidance to at least $57 million and expects adjusted EBITDA loss to be better than $12 million. Cash and cash equivalents stood at $24.5 million as of June 30, 2024.

Exagen Inc. (Nasdaq: XGN), a leader in autoimmune testing solutions, has announced its participation in the Canaccord Genuity 44th Annual Growth Conference. The event is scheduled for August 13-15, 2024, at the InterContinental Boston Hotel in Boston, MA.

John Aballi, Exagen's President and CEO, will engage in a fireside chat on Wednesday, August 14th, at 2:30 PM ET. Interested parties can access the webcast of the presentation through a link available on Exagen's investor relations website.

This participation highlights Exagen's commitment to engaging with investors and showcasing its position in the autoimmune testing market. The conference provides an opportunity for the company to share insights into its growth strategies and recent developments in the field of autoimmune diagnostics.

Exagen Inc. (Nasdaq: XGN) has announced the appointment of Jeffrey G. Black as its new Chief Financial Officer (CFO), effective September 1, 2024. Black replaces Kamal Adawi, who is stepping down, with John Aballi serving as interim CFO through August. Black brings over 30 years of financial and accounting experience, having served in finance leadership roles for eight publicly traded companies.

Black's recent experience includes serving as CFO of Standard BioTools, where he played a key role in its merger with SomaLogic. He was also CFO at Apollo Endosurgery, instrumental in its $650 million sale to Boston Scientific, and at Alphatec Spine, where he closed nearly $500M in financing transactions and expanded the company's market cap from $20M to over $1B.

Exagen Inc. (Nasdaq: XGN), a leading autoimmune testing provider, has announced it will release its second quarter 2024 financial results on August 5, 2024, before the market opens. The company will host a conference call at 8:30 AM ET on the same day, featuring President and CEO John Aballi and CFO Kamal Adawi.

Interested parties can join the call by dialing (201) 389-0918 (U.S.) or (877) 407-0890 (international). A webcast link will be available on Exagen's investor relations website. A replay of the call will be accessible until August 19, 2024, via phone and webcast recording.

Exagen Inc. (Nasdaq: XGN) reported strong first-quarter results for 2024 with total revenue of $14.4 million, a 28.4% increase over the same period last year. The company achieved a gross margin of 59.6%, up from 47.2% in Q1 2023. The AVISE® CTD ASP saw a 35.1% increase to $377. Despite a net loss of $3.4 million, it marked a 56.3% improvement from Q1 2023. Adjusted EBITDA was $(2.0) million, a 67.7% improvement from last year. Cash and cash equivalents stood at $27.3 million with runway into 2026. Exagen raised revenue guidance to at least $55 million and expects adjusted EBITDA to be better than negative $18 million for 2024.

Exagen Inc. (Nasdaq: XGN) has launched a campaign in recognition of Lupus Awareness Month, focusing on enhancing the work done to help those suffering from Systemic Lupus Erythematosus (SLE). The campaign includes partnerships with the Lupus Foundation of America, educational content on social media platforms, and insights into the future of lupus diagnostics and therapies.

Exagen Inc. (Nasdaq: XGN) will announce its financial results for the first quarter of 2024 on May 13, 2024. The company, a leading provider of autoimmune testing, will host a conference call to review the results. Interested parties can access the call via phone or webcast. A replay will be available until May 27, 2024.

Exagen Inc. (Nasdaq: XGN) announced changes to the Board of Directors, welcoming Dr. Scott Kahn, a seasoned life science professional, as a Class I Director. The company is reducing the Board size from nine to seven members, with Brian Birk, Ebetuel Pallares, Ph.D., and Wendy Johnson stepping down. The adjustments align with Exagen's strategy for future growth and innovation.

Exagen Inc. (Nasdaq: XGN) reported strong financial results for the fourth quarter and full year ended December 31, 2023, with record total revenue of $52.5 million for 2023. The company performed 137,650 AVISE® CTD tests in 2023, showing a significant increase in ASP. Despite a net loss of $23.7 million for the full year, Exagen is focused on profitability, expense reduction, and managing cash effectively.