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) reported second quarter 2022 results, highlighting total revenue of $9.0 million, down from $12.8 million in Q2 2021. The AVISE® CTD test revenue decreased to $7.2 million from $10.4 million, attributed to lower average reimbursements and prior period adjustments. Despite delivering a record 34,919 tests in Q2 2022, the company's gross margin fell to 32.2%. Operating expenses rose to $21.7 million, leading to a net loss of $13.3 million. Exagen revised its 2022 revenue guidance to $35 million to $40 million due to Medicare reimbursement uncertainties.
Exagen Inc. (Nasdaq: XGN) announced its participation in the Canaccord Genuity 42nd Annual Growth Conference, scheduled for August 8-11, 2022, in Boston. Ron Rocca, President and CEO, along with Kamal Adawi, CFO, will present on August 11 at 12:00 PM ET. The presentation will be accessible via a webcast on Exagen's website. Exagen focuses on providing autoimmune testing solutions and is dedicated to enhancing patient care through precision medicine. The company operates from San Diego County with laboratories in Vista, CA.
Exagen (Nasdaq: XGN) will announce financial results for Q2 2022 on August 4, 2022, post-market. A conference call led by CEO Ron Rocca and CFO Kamal Adawi is scheduled for 4:30 PM ET. Participants can join via phone or webcast through Exagen's investor relations website. A replay of the call will be accessible until August 18, 2022. Exagen specializes in autoimmune diagnostics and is focused on enhancing precision medicine through its AVISE® testing and ongoing product pipeline development.
Exagen Inc. (Nasdaq: XGN) announced findings from the CAPSTONE study, the largest comparative utility study in lupus diagnosis, published in the Journal of Managed Care & Specialty Pharmacy. The study assessed nearly 50,000 patient tests comparing the AVISE Lupus test with traditional ANA testing. Key findings include a 2x reduction in diagnostic testing costs and 3.5x less frequent repeat testing for AVISE, along with 6x higher odds of establishing a new diagnosis and 3x higher odds for initiating treatment with AVISE. These results confirm the test's efficacy in improving patient outcomes and reducing costs.
Exagen Inc. (Nasdaq: XGN) announced a partnership with MediNcrease Health Plans, effective July 1, 2022, enhancing access to AVISE® tests for approximately 7.5 million lives covered by MediNcrease. This collaboration aims to provide timely and accurate diagnoses for autoimmune diseases, particularly Systemic Lupus Erythematosus (SLE). Exagen's President highlighted the importance of early diagnosis in preventing organ damage, while MediNcrease emphasized its commitment to expanding specialized diagnostic testing solutions.
Exagen Inc. (Nasdaq: XGN), a leader in autoimmune testing solutions, will participate in the William Blair 42nd Annual Growth Stock Conference from June 6-9, 2022, in Chicago. The presentation by CEO Ron Rocca and CFO Kamal Adawi is scheduled for June 9 at 12:40 PM CT. Investors can access the live webcast through Exagen's website. The company focuses on precision medicine and invests in its product pipeline to enhance autoimmune diagnosis and treatment.
Exagen Inc. (Nasdaq: XGN) announced a significant partnership with Alivio Health, enhancing care for 150,000 members by offering AVISE® CTD and AVISE® Lupus as contracted covered services. This collaboration aims to facilitate more accurate diagnoses of complex autoimmune diseases, particularly Systemic Lupus Erythematosus (SLE), which can take an average of six years to confirm. By improving access to accurate testing, early detection and treatment of lupus are prioritized, potentially reducing the risk of irreversible organ damage.
Exagen Inc. (Nasdaq: XGN) announced that Noridian, a Medicare Administrative Contractor, has established pricing for AVISE® Lupus following the approval of the PLA code 0312U by the AMA. Effective April 1, 2022, this code signifies the test's proprietary nature, combining Cell-Bound Complement Activation Products (CB-CAPs) with an SLE-likelihood assessment. CEO Ron Rocca emphasized that this milestone enhances accessibility to AVISE Lupus, promoting better autoimmune disease diagnosis.
Exagen Inc. (Nasdaq: XGN) reported its first-quarter 2022 results, achieving total revenue of $10.4 million, slightly down from $10.6 million in the prior year. The flagship AVISE® CTD test generated $8.7 million, with a 6.5% volume increase. A record 30,903 tests were delivered, and the number of ordering healthcare providers reached 2,175. Despite this growth, gross margin fell to 44.0% from 55.5% due to higher costs. The net loss widened to $10.3 million. Exagen now expects full-year revenue between $53 million and $55 million, raising previous guidance.
Exagen Inc. (Nasdaq: XGN) announced a five-week awareness campaign for Lupus Awareness Month, beginning May 2022. Each week will focus on a different theme: Diagnosis, Advocacy, Community, Research, and Motivation. This initiative aims to raise awareness about lupus and features partnerships with the Lupus Foundation of America and patient advocates. CEO Ron Rocca emphasized the importance of increasing awareness and improving diagnosis for lupus patients.