Exagen Inc. Stock Price, News & Analysis

Exagen Inc. (XGN) reported a 14% increase in quarterly revenue, reaching $12.3 million for Q3 2021. The AVISE® CTD test revenue surged by 34% to $9.9 million, driven by a 21% rise in testing volumes with 31,742 tests delivered. The company achieved a record of 1,969 ordering healthcare providers and maintained a 99% retention rate among adopters. However, operational expenses rose to $18.8 million, leading to a net loss of $7.2 million. Exagen reaffirmed its 2021 revenue guidance of $47-$49 million.

Exagen Inc. (Nasdaq: XGN) will participate in the Canaccord Genuity Virtual MedTech, Diagnostics and Digital Health and Services Forum on November 18, 2021. Ron Rocca, President and CEO, and Kamal Adawi, CFO, will hold a virtual fireside chat at 10:30 AM ET. Interested viewers can access the live webcast from Exagen’s website. Exagen is focused on autoimmune testing solutions, aiming to enhance diagnosis and treatment for chronic autoimmune diseases such as rheumatoid arthritis and lupus through innovative testing products.

Exagen Inc. (Nasdaq: XGN), a leader in autoimmune testing, will announce its financial results for Q3 2021 on November 10, 2021, after market close. CEO Ron Rocca, CFO Kamal Adawi, and COO Mark Hazeltine will host a conference call at 4:30 PM ET to discuss the results. The call can be accessed via phone or webcast on the Exagen investor relations website. A replay will be available until November 17, 2021. Exagen focuses on improving patient care through innovative testing solutions for autoimmune diseases like rheumatoid arthritis and lupus.

Exagen Inc. (Nasdaq: XGN) has partnered with Inland Empire Health Plan (IEHP) to provide covered AVISE® CTD and AVISE Lupus services to 1.4 million members. This agreement facilitates in-network access to these diagnostic tests, critical for the timely diagnosis of complex autoimmune diseases, including Systemic Lupus Erythematosus (SLE). The partnership aims to enhance patient outcomes by addressing the challenges in diagnosing and treating SLE, which predominantly affects women of color. Exagen focuses on innovative testing solutions to improve autoimmune disease management.

Exagen Inc. (Nasdaq: XGN) announced a $27.2 million 5-year term loan with Innovatus Capital Partners at an 8.0% interest rate, where 2.0% is paid in-kind. This amendment strengthens their relationship, aiming to enhance patient care for autoimmune diseases through innovative testing solutions. The updated terms were disclosed in a Current Report filed on October 25, 2021. The loan is expected to support Exagen's mission of improving patient outcomes and reducing healthcare costs amidst ongoing challenges within the healthcare landscape.

Exagen Inc. (Nasdaq: XGN) will present new research at the virtual ACR Convergence 2021 from November 6-9, 2021. This research focuses on the role of cell-bound complement activation products (CB-CAPs) in diagnosing and treating systemic lupus erythematosus (SLE). Chief Scientific Officer Anja Kammesheidt expressed pride in collaborating with key researchers. Notable presentations include studies examining the clinical utility of multianalyte assays and CB-CAPs in SLE evaluation. Exagen aims to enhance patient care through advanced diagnostic solutions.

Exagen Inc. (Nasdaq: XGN) will participate in the Cantor Fitzgerald Virtual Global Healthcare Conference from September 27-30, 2021. Ron Rocca, President and CEO, and Kamal Adawi, CFO, are set to hold a virtual fireside chat on September 27 at 2:40 PM EDT. Interested individuals can access the live webcast through Exagen's website. The company is focused on providing innovative autoimmune testing solutions, particularly for conditions like rheumatoid arthritis and lupus, through its AVISE® brand and proprietary technology.

Exagen Inc. (Nasdaq: XGN) reported record financial results for Q2 2021, achieving total revenue of $12.8 million, a 43% year-over-year increase, and a 21% rise from Q1 2021. Revenue from the AVISE® CTD test reached $10.4 million, marking a 94% increase from the previous year. The company delivered 33,328 tests, reflecting an 80% growth year-over-year. Despite these gains, operating expenses rose to $18.5 million, leading to a net loss of $6.4 million. Exagen maintains its full-year revenue guidance of $47 million to $49 million.

Exagen Inc. (Nasdaq: XGN) has appointed Ms. Ana Hooker as an independent member of its Board of Directors, effective July 29, 2021. Hooker brings extensive experience in clinical laboratories, having held senior roles in organizations like Exact Sciences. The addition is expected to bolster Exagen's growth strategy in autoimmune testing solutions. Exagen aims to enhance patient care through innovative testing products under its AVISE® brand, focusing on complex autoimmune diseases.