Exagen Inc. Stock Price, News & Analysis

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.

Exagen Inc. (Nasdaq: XGN), a leading provider of autoimmune testing, has scheduled its first quarter 2025 financial results announcement for May 5, 2025, before market opening. The company will host a conference call at 8:30 a.m. ET (5:30 a.m. PT) featuring President and CEO John Aballi and CFO Jeff Black.

Participants can join via phone at 201-389-0918 (U.S.) or +1-877-407-0890 (international), or through webcast available on the company's investor relations website. A replay will be accessible until May 19, 2025, through phone (201-612-7415 U.S., +1-877-660-6853 international, passcode 13753132) or webcast.

Exagen Inc. (XGN) reported strong financial results for Q4 and full-year 2024, achieving record total revenue of $55.6 million. The company demonstrated significant improvements in key metrics, including a 300 basis point increase in gross margin to 62.1% in Q4 and 59.5% for the full year.

The AVISE® CTD test reached a milestone of 1,000,000 patients tested, with its trailing twelve-month average selling price expanding to $411, a $75 increase per test. The company reduced its net loss by $1.8 million in Q4 and over $8 million for the full year compared to 2023.

Looking ahead, Exagen expects Q1 2025 revenue of at least $14.5 million and anticipates achieving positive adjusted EBITDA by Q4 2025. The company ended 2024 with $22.2 million in cash and restricted cash.

Exagen Inc. (Nasdaq: XGN), a leading provider of autoimmune testing, has scheduled the release of its fourth quarter and full-year 2024 financial results for March 11, 2025, before market opening. The company will host a conference call at 8:30 AM ET (5:30 AM PT) with President and CEO John Aballi and CFO Jeff Black to discuss the results.

Participants can join via phone at 201-389-0918 (U.S.) or +1-877-407-0890 (international), or through webcast available on the company's investor relations website. A replay will be accessible until April 14, 2025, at 11:59 PM ET through phone (201-612-7415 U.S., +1-877-660-6853 international, passcode 13751928) or webcast.

Exagen Inc. (Nasdaq: XGN), a leading autoimmune testing provider, has announced its participation in three upcoming investor conferences in early 2025:

1. BTIG at Snowbird Conference on February 11, 2025, at the Cliff Lodge in Snowbird, UT, featuring one-on-one investor meetings.

2. TD Cowen's 45th Annual Health Care Conference on March 5, 2025, at the Marriott Copley Place in Boston, MA, where President and CEO John Aballi and CFO Jeff Black will participate in a fireside chat at 1:10 p.m. EST, along with one-on-one investor meetings.

3. 5th Annual KeyBanc Capital Markets Healthcare Forum on March 18, 2025, featuring a virtual fireside chat and one-on-one investor meetings.

Investors can find more information and fireside chat links in the Events section of Exagen's website.

Exagen has received conditional approval from NY State for new lupus (SLE) and rheumatoid arthritis (RA) biomarker assays, planned for commercial launch in January 2025. The company announced preliminary unaudited financial results for Q4 and full year 2024, achieving:

- Record full-year revenue of $55.3-$55.8 million
- AVISE CTD trailing 12-month average selling price of $408-$412
- Net loss of ($14.8) to ($15.8) million
- Adjusted EBITDA of ($9.8) to ($10.8) million
- Cash position of $22.2 million

The new biomarkers include T-Cell Lupus profile (TC4d, TIgG, TIgM) for enhanced SLE diagnosis and RA profile with anti-RA33 biomarkers (IgA, IgG, IgM) for improved RA diagnosis. The company reached a milestone of testing its 1,000,000th patient with AVISE CTD and showed significant improvement in adjusted EBITDA by 37-43% compared to 2023.

Exagen Inc. has announced a significant milestone with the completion of its 1,000,000th AVISE CTD test, highlighting the test's widespread adoption in the rheumatologic community. The AVISE CTD test, launched in 2012, provides clinicians with important information for accurately diagnosing autoimmune and connective tissue diseases (CTD), offering superior accuracy compared to traditional screening methods.

The test's unique biomarkers enable confident and quick diagnosis of various CTDs, addressing the challenge of increasing autoimmune disease incidence. The milestone is supported by extensive peer-reviewed literature validating the test's clinical validity and utility in patient care.