Welcome to our dedicated page for Exagen news (Ticker: XGN), a resource for investors and traders seeking the latest updates and insights on Exagen stock.
Exagen Inc. (Nasdaq: XGN) is a commercial-stage diagnostics company that describes itself as a leading provider of autoimmune diagnostics and autoimmune testing solutions. Based in San Diego County, California, Exagen focuses on chronic and debilitating autoimmune conditions, particularly autoimmune rheumatic diseases. Its news flow reflects both its operational performance and its scientific and clinical activities in this specialized area.
Company news frequently covers financial results and operational updates, including quarterly earnings releases, preliminary annual results, and related guidance. These updates often discuss revenue trends, test volume for the AVISE CTD panel, average selling price metrics, and cash and cash equivalents, giving investors insight into Exagen’s commercial progress as an autoimmune diagnostics provider.
Exagen’s news also highlights developments in its testing portfolio and research programs. The company reports on enhancements to AVISE CTD, such as the commercial launch of seronegative rheumatoid arthritis markers for anti-PAD4, and on scientific milestones like the acceptance of multiple abstracts at the American College of Rheumatology’s annual meeting. These abstracts address topics including urinary biomarker panels for lupus nephritis, kidney-specific biomarker panels, T cell biomarkers, and multianalyte lupus risk scores.
Additional announcements include participation in healthcare and diagnostics investor conferences and leadership appointments, such as the addition of a Chief Scientific Officer and new board members with experience in life sciences and medical technology. Together, these news items give a view into Exagen’s financial performance, scientific focus, and corporate development. Investors and observers can use the XGN news page to follow how the company reports on its autoimmune testing business, research activities, and strategic initiatives over time.
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.
Exagen has completed validation and submitted regulatory approval for new biomarkers to enhance its AVISE CTD platform, which aids in diagnosing autoimmune diseases. The enhancement includes seven new biomarkers: three T Cell biomarkers for improved Systemic Lupus Erythematosus (SLE) sensitivity, and four biomarkers for better rheumatoid arthritis (RA) diagnosis. AVISE CTD, operational since 2012, helps diagnose various connective tissue diseases where symptoms overlap, making differential diagnosis challenging. The platform's enhancement aims to provide clearer diagnostic information, potentially reducing repeat testing and improving patient outcomes.
Exagen Inc. (Nasdaq: XGN), a leading autoimmune testing solutions provider, has announced its participation in three major investor conferences. President and CEO John Aballi will present at the Canaccord Genuity MedTech Forum on November 21, 2024, at 3:00 p.m. EST in New York, the Evercore HEALTHCONx Conference on December 4, 2024, at 12:30 p.m. EST in Coral Gables, and will participate in a panel discussion titled 'Beyond Cancer' at the TD Cowen Diagnosing Tomorrow Conference on December 12, 2024, at 2:40 p.m. EST in New York. Management will also conduct one-on-one investor meetings at the first two events.
Exagen Inc. (Nasdaq: XGN), a leader in autoimmune testing solutions, reported financial results for Q3 2024. Revenue was $12.5 million, including a $1.2 million negative impact from one-time adjustments. The trailing twelve-month average selling price (ASP) for AVISE® CTD increased by 26% to $404. Gross margin was 55.8%, down from 57.4% in Q3 2023. Operating expenses decreased to $17.2 million from $18.5 million in Q3 2023. The net loss for the quarter was $5.0 million, an improvement from $5.4 million in Q3 2023.
For the first three quarters of 2024, revenue reached $42.0 million, up from $38.8 million in the same period of 2023. The net loss improved to $11.4 million, compared to $18.1 million in the first three quarters of 2023. Adjusted EBITDA loss also improved to $7.6 million from $13.2 million. Cash and cash equivalents were $22.0 million as of September 30, 2024. The company expects full-year 2024 revenue of $55-$56 million and an adjusted EBITDA loss of better than $12 million.
Exagen (Nasdaq: XGN), a provider of autoimmune testing, will release its third quarter 2024 financial results on November 12, 2024, before market opens. The company will host a conference call at 8:30 AM ET with President and CEO John Aballi and CFO Jeff Black. Investors can join via phone or webcast through the company's investor relations website. A replay will be available until November 26, 2024, through phone or webcast recording.
Exagen Inc. (Nasdaq: XGN) announced the acceptance of five abstracts at the 2024 American College of Rheumatology's (ACR) annual meeting, ACR Convergence 2024, scheduled for November 14-19, 2024, in Washington, D.C. The company's featured plenary presentation, in collaboration with Johns Hopkins University, will showcase a urinary biomarker panel for guiding precision management of Lupus Nephritis. Additional abstracts highlight Exagen's research on novel T Cell biomarkers for Lupus and anti-RA33 autoantibodies for rheumatoid arthritis, aimed at improving diagnostic sensitivity of the AVISE CTD platform.
The accepted abstracts cover topics such as predicting histologically active Lupus Nephritis, validating T Cell-bound C4d and T Cell Autoantibodies for SLE diagnosis, and exploring autoantibodies in seronegative rheumatoid arthritis. These presentations demonstrate Exagen's commitment to innovative research in rheumatologic care.
Exagen Inc. (Nasdaq: XGN), a leading autoimmune testing solutions provider, has announced its participation in the 2024 Cantor Global Healthcare Conference. The event is scheduled for September 17-19, 2024, at the InterContinental Barclay Hotel in New York City.
Key highlights:
- John Aballi, President and CEO, and Jeff Black, CFO, will represent Exagen
- They will participate in a fireside chat on Wednesday, September 18th, at 9:45 AM ET
- The conference provides a platform for healthcare companies to showcase their innovations and connect with investors
This participation underscores Exagen's commitment to engaging with the investment community and sharing insights into its autoimmune testing solutions.