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Exagen Inc. (XGN)

NasdaqGM - NasdaqGM Real Time Price. Currency in USD
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16.34-0.41 (-2.45%)
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Neutralpattern detected
Previous Close16.75
Open16.65
Bid16.36 x 800
Ask17.50 x 800
Day's Range15.78 - 16.70
52 Week Range10.29 - 24.67
Volume75,979
Avg. Volume54,211
Market Cap276.551M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)-72.27
Earnings DateMar 16, 2021
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est27.00
  • Exagen Inc. Announces Study on the Long-Term Effects of COVID-19 Infection in the Development of Autoimmune Diseases
    GlobeNewswire

    Exagen Inc. Announces Study on the Long-Term Effects of COVID-19 Infection in the Development of Autoimmune Diseases

    SAN DIEGO, March 29, 2021 (GLOBE NEWSWIRE) -- Exagen Inc. (Nasdaq: XGN), an organization dedicated to transforming the care continuum for patients suffering from autoimmune diseases, announced today that it will collaborate with Emory University on a new study about the long-term effects of COVID-19 infection in the development of autoimmune diseases. Emory is widely acknowledged as a leading research institution in the study of various autoimmune diseases, including lupus. The longitudinal study will further evaluate the emergence of biomarkers that are known indicators for the development of lupus, rheumatoid arthritis and other autoimmune diseases. This effort will assess the emergence of these biomarkers in mild/moderate COVID patients, among several critical patient groups, including those treated with dexamethasone. Dr. Ignacio Sanz, Chief, Division of Rheumatology, Department of Medicine at Emory University, stated, “The autoimmune response after COVID-19 infection is unknown at this time, and we hope our investigation can shed light on what the future for these patients may hold. We look forward to working with Exagen and utilizing the AVISE® testing portfolio to evaluate these patients.” “We are excited to work with Emory University to evaluate how our diagnostic brands can assess the long-term autoimmune effects the COVID-19 virus infection may have on patients. Emory is a leader in research, and we are proud of this association. With our focus set on improving the care continuum for autoimmune patients, we hope insight into post-infection can help rheumatologists better customize care for their patients,” said Ron Rocca, President and CEO of Exagen Inc. About Exagen Inc. Exagen is dedicated to transforming the care continuum for patients suffering from debilitating and chronic autoimmune diseases by enabling timely differential diagnosis and optimizing therapeutic intervention. Exagen has developed and is commercializing a portfolio of innovative testing products under its AVISE® brand, several of which are based on our proprietary Cell-Bound Complement Activation Products, or CB-CAPs, technology. Exagen’s goal is to enable providers to improve care for patients through the differential diagnosis, prognosis and monitoring of complex autoimmune and autoimmune-related diseases, including rheumatoid arthritis and lupus. For further information, please visit www.exagen.com. About Emory University The Emory University School of Medicine is a leading institution with the highest standards in education, biomedical research, and patient care. We are committed to recruiting and developing a diverse group of students and innovative leaders in biomedical science, public health, medical education, and clinical care. We foster a culture that integrates leading edge basic, translational, and clinical research to further the ability to deliver quality health care, to predict illness and treat the sick, and to promote health of our patients and community. The Division of Rheumatology is committed to improving the treatment of rheumatic and autoimmune diseases through diverse, multidisciplinary research programs of the utmost quality. Our cutting-edge programs include clinical, epidemiological, and basic bench research and outcomes investigation. For more information, visit Emory Rheumatology. Forward Looking Statements Exagen cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on the Company's current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding the study in collaboration with Emory University and any potential findings related to the emergence of various autoimmune disease biomarkers in mild/moderate COVID-19 patients. The inclusion of forward-looking statements should not be regarded as a representation by Exagen that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Exagen’s business, including, without limitation: the COVID-19 pandemic may continue to adversely affect our business, financial condition and results of operations, including as a result of shutdowns of our facilities and operations as well as those of our suppliers and courier services, impeding patient movement and interruptions to healthcare services causing a decrease in test volumes, disruptions to the supply chain of material needed for our tests, our sales and commercialization activities and our ability to receive specimens and perform or deliver the results from our tests, delays in reimbursement and coverage decisions from Medicare and third-party payors and in interactions with regulatory authorities, and delays in ongoing and planned clinical trials involving our tests; the company’s commercial success depends upon attaining and maintaining significant market acceptance of its testing products and promoted therapeutics among rheumatologists, patients, third-party payers and others in the medical community; the company’s ability to successfully execute on its business strategy, including the company’s ability to drive market penetration for its testing products and the integration of the promotion of testing products and therapeutics, including SIMPONI®; third party payers not providing coverage and adequate reimbursement for the company’s testing products or promoted therapeutics; the company’s ability to obtain and maintain intellectual property protection for its testing products; regulatory developments affecting the company’s business; and other risks described in the company’s prior press releases and the Company’s filings with the Securities and Exchange Commission (SEC), including under the heading “Risk Factors” in the company’s Annual Report on Form 10-K and any subsequent filings with the SEC. 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. InvestorsWestwicke PartnersMike CavanaughMike.Cavanaugh@westwicke.com 646.677.1838 CompanyExagen Inc.Kamal Adawi, Chief Financial Officerkadawi@exagen.com 760.477.5514

  • Exagen Inc. Announces Closing of Public Offering of Common Stock, Including Full Exercise of Underwriters’ Option to Purchase Additional Shares
    GlobeNewswire

    Exagen Inc. Announces Closing of Public Offering of Common Stock, Including Full Exercise of Underwriters’ Option to Purchase Additional Shares

    SAN DIEGO, March 25, 2021 (GLOBE NEWSWIRE) -- Exagen Inc. (Nasdaq: XGN), a leading provider of autoimmune testing solutions, today announced that it has closed its previously announced underwritten public offering of 4,255,000 shares of its common stock, including 555,000 shares sold pursuant to the underwriters’ full exercise of their option to purchase additional shares, at a price to the public of $16.25 per share. The gross proceeds to Exagen from the offering, before deducting the underwriting discounts and commissions and other offering expenses, were approximately $69.1 million. Exagen intends to use the net proceeds from the proposed offering for the development of Multi-omics capabilities, including build out of its clinical laboratory, advancement of its product pipeline, including to support development of tests for fibromyalgia, RA, thrombosis and lupus nephritis, enhancement of intellectual property protection for its technologies, and for working capital and other general corporate purposes. Exagen may also use a portion of the net proceeds to in-license, acquire, or invest in complementary businesses, technologies, products or assets; however, it has no current commitments or obligations to do so. Cowen, William Blair and Cantor acted as joint bookrunning managers for the offering. Canaccord Genuity acted as bookrunning manager for the offering. BTIG acted as lead manager for the offering. The securities described above were offered by Exagen pursuant to a shelf registration statement previously filed and declared effective by the Securities and Exchange Commission (SEC). A final prospectus supplement and the accompanying prospectus relating to this offering bas been filed with the SEC. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained from: Cowen and Company, LLC c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department, by email at PostSaleManualRequests@broadridge.com or by telephone at (833) 297-2926; or from William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, telephone: 1-800-621-0687, or by email: prospectus@williamblair.com; or from Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 6th Floor, New York, New York 10022, by telephone at 212-829-7122 or by email at prospectus@cantor.com. Electronic copies of the final supplement and accompanying prospectus will also be available on the website of the SEC at http://www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. About Exagen Exagen is dedicated to transforming the care continuum for patients suffering from debilitating and chronic autoimmune diseases by enabling timely differential diagnosis and optimizing therapeutic intervention. Exagen has developed and is commercializing a portfolio of innovative testing products under its AVISE brand, several of which are based on our proprietary Cell-Bound Complement Activation Products, or CB-CAPs, technology. Exagen’s goal is to enable providers to improve care for patients through the differential diagnosis, prognosis and monitoring of complex autoimmune and autoimmune-related diseases, including rheumatoid arthritis and lupus. 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 the company’s current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding Exagen’s anticipated use of proceeds from the public offering. The inclusion of forward-looking statements should not be regarded as a representation by Exagen that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions related to the proposed public offering, as well as risks and uncertainties inherent in Exagen’s business, including those described in the company’s prior press releases and the Company’s filings with the SEC, including under the heading “Risk Factors” in the company’s Annual Report on Form 10-K and any subsequent filings with the SEC. 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. CONTACTS: InvestorsWestwicke PartnersMike CavanaughMike.Cavanaugh@westwicke.com646.677.1838 CompanyExagen Inc.Kamal Adawi, Chief Financial Officerkadawi@exagen.com760.477.5514

  • Exagen Inc. Announces Pricing of Public Offering of Common Stock
    GlobeNewswire

    Exagen Inc. Announces Pricing of Public Offering of Common Stock

    SAN DIEGO, March 22, 2021 (GLOBE NEWSWIRE) -- Exagen Inc. (Nasdaq: XGN), a leading provider of autoimmune testing solutions, today announced the pricing of an underwritten public offering of 3,700,000 shares of its common stock at a price to the public of $16.25 per share. All of the shares to be sold in the offering are to be sold by Exagen. The gross proceeds to Exagen from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be $60.1 million. In addition, Exagen has granted the underwriters a 30-day option to purchase up to an additional 555,000 shares of common stock. The offering is expected to close on or about March 25, 2021, subject to the satisfaction of customary closing conditions. Exagen intends to use the net proceeds from the proposed offering for the development of Multi-omics capabilities, including build out of its clinical laboratory, advancement of its product pipeline, including to support development of tests for fibromyalgia, RA, thrombosis and lupus nephritis, enhancement of intellectual property protection for its technologies, and for working capital and other general corporate purposes. Exagen may also use a portion of the net proceeds to in-license, acquire, or invest in complementary businesses, technologies, products or assets; however, it has no current commitments or obligations to do so. Cowen, William Blair and Cantor are acting as joint bookrunning managers for the offering. Canaccord Genuity is also acting as bookrunning manager for the offering. BTIG is acting as lead manager for the offering. The securities described above are being offered by Exagen pursuant to a shelf registration statement previously filed and declared effective by the Securities and Exchange Commission (SEC). A preliminary prospectus supplement and accompanying prospectus relating to this offering were filed with the SEC and a final prospectus supplement relating to the offering will be filed with the SEC. The offering may be made only by means of a prospectus supplement and accompanying prospectus. When available, copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained from: Cowen and Company, LLC c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department, by email at PostSaleManualRequests@broadridge.com or by telephone at (833) 297-2926; or from William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, telephone: 1-800-621-0687, or by email: prospectus@williamblair.com; or from Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 6th Floor, New York, New York 10022, by telephone at 212-829-7122 or by email at prospectus@cantor.com. Electronic copies of the final prospectus supplement and accompanying prospectus will also be available on the website of the SEC at http://www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. About Exagen Exagen is dedicated to transforming the care continuum for patients suffering from debilitating and chronic autoimmune diseases by enabling timely differential diagnosis and optimizing therapeutic intervention. Exagen has developed and is commercializing a portfolio of innovative testing products under its AVISE brand, several of which are based on our proprietary Cell-Bound Complement Activation Products, or CB-CAPs, technology. Exagen’s goal is to enable providers to improve care for patients through the differential diagnosis, prognosis and monitoring of complex autoimmune and autoimmune-related diseases, including rheumatoid arthritis and lupus. 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 the company’s current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding Exagen’s expectations of market conditions and the satisfaction of customary closing conditions related to the public offering, the expected closing of the offering and the anticipated use of proceeds therefrom. The inclusion of forward-looking statements should not be regarded as a representation by Exagen that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions related to the proposed public offering, as well as risks and uncertainties inherent in Exagen’s business, including those described in the company’s prior press releases and the Company’s filings with the SEC, including under the heading “Risk Factors” in the company’s Annual Report on Form 10-K and any subsequent filings with the SEC. 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. CONTACTS: InvestorsWestwicke PartnersMike CavanaughMike.Cavanaugh@westwicke.com646.677.1838 CompanyExagen Inc.Kamal Adawi, Chief Financial Officerkadawi@exagen.com760.477.5514