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) 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.
Exagen Inc. (Nasdaq: XGN) will release its financial results for Q1 2022 on May 11, 2022, after market close. The call, hosted by CEO Ron Rocca and CFO Kamal Adawi, will begin at 4:30 PM ET. Interested parties can join via phone or webcast. Exagen focuses on autoimmune testing solutions, aiming to improve patient care through its AVISE® testing products, particularly for conditions like rheumatoid arthritis and lupus. For further details, visit their investor relations website.
Exagen Inc. (Nasdaq: XGN) will participate in the Investor Summit Group’s Q2 Conference in New York City on May 3-4, 2022. The company's President and CEO, Ron Rocca, along with CFO Kamal Adawi, will present on May 4 at 2:00 PM ET. Interested parties can access the webcast on Exagen’s website. Exagen focuses on autoimmune testing solutions to improve patient care through enhanced diagnosis and therapy optimization. The company is known for its AVISE® testing products and proprietary technology aimed at aiding rheumatologists in managing autoimmune diseases.
Exagen Inc. (Nasdaq: XGN) announced a partnership with Evolutions Healthcare Systems, making its AVISE® Lupus and AVISE® CTD tests available as in-network benefits. This agreement enhances care for members needing autoimmune diagnostic testing. Ron Rocca, Exagen’s President and CEO, emphasized the importance of this collaboration in facilitating timely and accurate diagnoses for complex autoimmune diseases. Exagen continues to develop innovative testing solutions aimed at improving patient outcomes in chronic autoimmune conditions.
Exagen Inc. (Nasdaq: XGN) announced its AVISE® tests will soon cover over 90 million lives as an in-network benefit starting June 1, 2022, through a partnership with Centene Corporation and WellCare Health Plans. This coverage will provide vital support to more than 22.7 million members, enhancing care for autoimmune diseases, particularly Systemic Lupus Erythematosus (SLE). Exagen aims to improve diagnostic accuracy and patient outcomes through its innovative testing solutions during the ongoing challenges faced in autoimmune disease management.
Exagen Inc. (XGN) reported record financial results for 2021, with total revenue at $48.3 million, up from $42 million in 2020. The testing revenue reached $47.1 million, marking a 27.8% increase year-over-year. During Q4 2021, revenue was $12.7 million, driven by record testing volumes. Despite these gains, Exagen faced a net loss of $26.9 million for the year. Noteworthy achievements included a retention rate of approximately 99% among providers and the acquisition of exclusive technology for the AVISE® RADR platform. The company expects 2022 revenue between $51 million and $53 million.
Exagen Inc. (Nasdaq: XGN) has formed a new Scientific Advisory Board (SAB) comprised of seven distinguished doctors and rheumatology experts, enhancing its capabilities in autoimmune testing solutions. This esteemed group includes industry leaders such as Stanley Cohen, MD, and Andrew Concoff, MD, among others. The SAB is expected to provide valuable insights that will contribute to the growth and development of Exagen's AVISE® RADR platform. CEO Ron Rocca expressed excitement over the board's potential to guide the company in advancing its goals.
Exagen Inc. (Nasdaq: XGN) announced its participation in the KeyBanc Capital Markets Life Sciences and MedTech Investor Forum on March 22-23, 2022. Ron Rocca, President and CEO, and Kamal Adawi, CFO, will engage in a virtual fireside chat on March 23 at 3:45 PM ET. Interested parties can access the live webcast through Exagen’s website. Exagen focuses on autoimmune testing solutions, aiming to improve care for autoimmune disease patients with its AVISE® brand testing products.