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. develops and commercializes autoimmune diagnostic testing products under the AVISE brand. The company’s flagship AVISE CTD test is used by clinicians in evaluating complex rheumatic and autoimmune diseases, including lupus, rheumatoid arthritis and Sjögren’s disease, and its CLIA-certified, CAP-accredited laboratory specializes in rheumatic disease testing.
Recurring news for XGN includes quarterly and annual financial results, AVISE CTD test volume, average selling price, revenue, gross margin and cash updates. Company announcements also cover autoimmune biomarker research, additions to the AVISE testing portfolio, conference participation and corporate updates tied to Exagen’s diagnostics business.
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.
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