Latest news with #ExagenInc
Yahoo
08-05-2025
- Business
- Yahoo
Exagen Inc. Prices Public Offering of Common Stock
CARLSBAD, Calif., May 08, 2025 (GLOBE NEWSWIRE) -- Exagen Inc. (Nasdaq: XGN), a leading provider of autoimmune testing solutions, today announced the pricing of its previously announced underwritten public offering of 3,350,000 shares of its common stock at a public offering price of $5.25 per share. All of the shares in the offering will be sold by Exagen, with gross proceeds to Exagen expected to be $17,587,500 before deducting underwriting discounts and commissions and offering expenses. Exagen has granted the underwriters a 30-day option to purchase up to an additional 502,500 shares on the same terms and conditions. The offering is expected to close on May 9, 2025, subject to the satisfaction of customary closing conditions. Canaccord Genuity is acting as sole bookrunner for the offering. The public offering is being made pursuant to a shelf registration statement on Form S-3 (including a base prospectus) that was previously filed with the Securities and Exchange Commission (the 'SEC') on November 17, 2023, as amended on November 27, 2023, and declared effective by the SEC on November 29, 2023. A preliminary prospectus supplement relating to and describing the terms of the offering has been filed with the SEC and is available on the SEC's website located at Copies of the final prospectus supplement and the accompanying prospectus relating to this offering, when available, can be obtained from Canaccord Genuity LLC, Attention: Syndication Department, 1 Post Office Square, Suite 3000, Boston, MA 02109, or by email at prospectus@ This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor will there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About Exagen Exagen Inc. (Nasdaq: XGN) is a leading provider of autoimmune diagnostics, committed to transforming care for patients with chronic and debilitating autoimmune conditions. Based in San Diego County, California, Exagen's mission is to provide clarity in autoimmune disease decision making and improve clinical outcomes through its innovative testing portfolio. The Company's flagship product, AVISE® CTD, enables clinicians to more effectively diagnose complex autoimmune conditions such as lupus, rheumatoid arthritis, and Sjögren's syndrome earlier and with greater accuracy. Exagen's laboratory specializes in the testing of rheumatic diseases, delivering precise and timely results, supported by a full suite of AVISE®-branded tests for disease diagnosis, prognosis, and monitoring. With a focus on research, innovation, education, and patient-centered care, Exagen is dedicated to addressing the ongoing challenges of autoimmune disease management. For more information, please visit or follow @ExagenInc on X. Forward-Looking Statements Exagen cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on Exagen's current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding: the completion of the public offering and other risks and uncertainties that are described under the heading 'Risk Factors' in Exagen's preliminary prospectus filed with the SEC on May 7, 2025, Exagen's Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on March 11, 2025 and any subsequent filings with the SEC. The inclusion of forward-looking statements should not be regarded as a representation by Exagen that any of its plans will be achieved. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Exagen undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Contact:Ryan DouglasExagen in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12-03-2025
- Business
- Yahoo
Exagen Inc (XGN) Q4 2024 Earnings Call Highlights: Record Revenue and Strategic Growth Initiatives
Total Revenue: $55.6 million for 2024, a 6% increase from 2023. Adjusted EBITDA Loss: Approximately $10 million for 2024, a 40% improvement over 2023. Average Selling Price (ASP): $411 for AVISE CTD, a $75 increase over 2023. Gross Margin: Expanded over 300 basis points in 2024, close to 60% for the full year. Operating Expenses: $46.7 million in 2024, down 10.5% from 2023. SG&A Expenses: $41 million in 2024, a 13% decrease from 2023. R&D Expenses: $5.4 million in 2024, up 12% due to new marker launches. Cash and Equivalents: $22.2 million at the end of 2024. First Quarter 2025 Revenue Guidance: At least $14.5 million. Warning! GuruFocus has detected 3 Warning Signs with XGN. Release Date: March 11, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Exagen Inc (NASDAQ:XGN) achieved record total revenue of $55.6 million in 2024, driven by improvements in reimbursement. The company successfully launched new biomarkers for AVISE CTD, enhancing its product offering and clinical utility. Gross margins expanded by over 300 basis points in 2024, nearing the 60% mark, due to increased ASP and operational efficiency. Exagen Inc (NASDAQ:XGN) reduced its adjusted EBITDA loss to approximately $10 million, showcasing a focus on prudent business operations. The company plans to expand its sales territories in 2025, indicating confidence in further growth and market penetration. Testing volume in 2024 did not meet expectations, with a decline of 11% compared to 2023. The company experienced a 4.5% reduction in its unique ordering physician base year-over-year. There is uncertainty regarding the full financial impact of the new biomarkers, with precise ASP and revenue effects still being determined. Exagen Inc (NASDAQ:XGN) faced challenges with some physicians unable to support necessary documentation for reimbursement, impacting volume. The company is still working on optimizing processes to reduce friction in prior authorization and medical record requests. Q: Could you provide guidance on how the new markers might impact ASP and gross margins for 2025? A: John Aballi, President and CEO, explained that the $90 increase in ASP from the new markers is based on current cash collections and assumptions about the appeals process. While it's too early to provide precise figures for 2025, the ASP could trend upwards, though not doubling. Gross margins are expected to reach the mid-60s over time with the new markers. Q: Is there a target for operating cash flow positivity alongside the adjusted EBITDA profitability target for Q4 2025? A: Jeff Black, CFO, stated that adjusted EBITDA is a good proxy for free cash flow on a full-year basis. While there will be increased cash requirements early in the year due to working capital impacts, adjusted EBITDA and free cash flow should align over the year. Q: How does the launch of RA33 impact sensitivity, and are there any improvements expected this year? A: John Aballi noted that the launch included novel T cell biomarkers, improving lupus diagnosis sensitivity. For RA, the new markers capture about 15-16% of seronegative patients, with further improvements expected by year-end to capture up to 40% of this population. Q: Could you discuss the potential market size for AVISE in RA compared to lupus? A: John Aballi highlighted that the RA market is significantly larger, with RA prevalence being about eight times that of lupus. The enhanced value proposition with new markers broadens the market opportunity, potentially increasing the utility for clinicians. Q: What are the expectations for volume growth in 2025, and how will you balance this with profitability? A: John Aballi expects volume growth to improve, potentially reaching high single digits. The company plans to expand sales territories and anticipates increases in the number of ordering physicians and overall test volumes, driven by the new markers and enhanced team quality. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
02-03-2025
- Business
- Yahoo
Investors in Exagen (NASDAQ:XGN) have unfortunately lost 84% over the last five years
Long term investing works well, but it doesn't always work for each individual stock. It hits us in the gut when we see fellow investors suffer a loss. Anyone who held Exagen Inc. (NASDAQ:XGN) for five years would be nursing their metaphorical wounds since the share price dropped 84% in that time. The falls have accelerated recently, with the share price down 17% in the last three months. We really feel for shareholders in this scenario. It's a good reminder of the importance of diversification, and it's worth keeping in mind there's more to life than money, anyway. Since shareholders are down over the longer term, lets look at the underlying fundamentals over the that time and see if they've been consistent with returns. View our latest analysis for Exagen Exagen wasn't profitable in the last twelve months, it is unlikely we'll see a strong correlation between its share price and its earnings per share (EPS). Arguably revenue is our next best option. Generally speaking, companies without profits are expected to grow revenue every year, and at a good clip. That's because it's hard to be confident a company will be sustainable if revenue growth is negligible, and it never makes a profit. Over five years, Exagen grew its revenue at 7.2% per year. That's a fairly respectable growth rate. So the stock price fall of 13% per year seems pretty steep. The truth is that the growth might be below expectations, and investors are probably worried about the continual losses. The image below shows how earnings and revenue have tracked over time (if you click on the image you can see greater detail). We consider it positive that insiders have made significant purchases in the last year. Having said that, most people consider earnings and revenue growth trends to be a more meaningful guide to the business. This free report showing analyst forecasts should help you form a view on Exagen It's good to see that Exagen has rewarded shareholders with a total shareholder return of 71% in the last twelve months. There's no doubt those recent returns are much better than the TSR loss of 13% per year over five years. This makes us a little wary, but the business might have turned around its fortunes. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. Case in point: We've spotted 3 warning signs for Exagen you should be aware of, and 1 of them is potentially serious. Exagen is not the only stock that insiders are buying. For those who like to find lesser know companies this free list of growing companies with recent insider purchasing, could be just the ticket. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
Yahoo
25-02-2025
- Business
- Yahoo
Exagen Inc. to Announce Fourth Quarter and Full-Year 2024 Financial Results on March 11, 2025
CARLSBAD, Calif., Feb. 25, 2025 (GLOBE NEWSWIRE) -- Exagen Inc. (Nasdaq: XGN), a leading provider of autoimmune testing, will release financial results for the quarter and year ended December 31, 2024, before the market opens on Tuesday, March 11, 2025. John Aballi, Exagen's President and Chief Executive Officer, and Jeff Black, Chief Financial Officer, will host a conference call to review the company's results at 8:30 AM ET (5:30 AM PT). Interested parties may access the conference call by dialing 201-389-0918 (U.S.) or +1-877-407-0890 (international). Participants wishing to access the call via webcast should use the link posted on the Exagen investor relations website at A replay of the conference call will be available until Monday, April 14, 2025, at 11:59 PM ET (8:59 PM PT). Interested parties may access the replay by dialing 201-612-7415 (U.S.) or +1-877-660-6853 (international) using passcode 13751928. Additionally, a recording of the webcast will be available using the link on the Exagen investor relations website approximately one hour after the call concludes. About Exagen Inc. Exagen Inc. (Nasdaq: XGN) is a leading provider of autoimmune diagnostics, committed to transforming care for patients with chronic and debilitating autoimmune conditions. Based in San Diego County, California, Exagen's mission is to provide clarity in autoimmune disease decision making and improve clinical outcomes through its innovative testing portfolio. The company's flagship product, AVISE® CTD, enables clinicians to more effectively diagnose complex autoimmune conditions such as lupus, rheumatoid arthritis, and Sjögren's syndrome earlier and with greater accuracy. Exagen's laboratory specializes in the testing of rheumatic diseases, delivering precise and timely results, supported by a full suite of AVISE-branded tests for disease diagnosis, prognosis, and monitoring. With a focus on research, innovation, education, and patient-centered care, Exagen is dedicated to addressing the ongoing challenges of autoimmune disease management. For more information, visit or follow @ExagenInc on X. Contact:Ryan DouglasExagen in to access your portfolio
