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Sema4 Changes Name to GeneDx, Provides Preliminary 2022 Revenues, 2023 Guidance

Note: This story has been updated to include a proper pro forma comparison between 2022 and 2021 revenues.

NEW YORK – Embattled molecular diagnostics, clinical sequencing, and bioinformatics firm Sema4 said on Monday that it has changed its name to GeneDx. The firm's shares will begin trading Tuesday on the Nasdaq Stock Market under the ticker symbol WGS.

The move follows a turbulent end to 2022, which culminated in the Stamford, Connecticut-based company receiving a notice of noncompliance from the Nasdaq Global Select Market on Dec. 28 after its stock did not rise to the minimum bid price of $1 per share for 30 consecutive trading days. Shares closed Friday at $.245, but were surging when the market opened on Monday.

Sema4 acquired GeneDx in April 2022 from Opko Health for $623 million and has been emphasizing the GeneDx operations for the past several months. The company has announced two restructurings and three rounds of job cuts since the acquisition closed.

In November, Sema4 said that it would exit reproductive health testing by the end of the first quarter of 2023 and close one of its laboratories near its Stamford headquarters. The company instead will lean into the clinico-genomic insights market, a segment with a $30 billion market opportunity that CEO Katherine Stueland said at the time will provide significant growth opportunities.

The renamed company also said Monday that it expects pro forma revenues for 2022 to range between $170 million and $173 million, excluding reproductive health and somatic tumor testing. That is at least 37 percent higher than 2021 pro forma revenues of $123.7 million.

GeneDx, which will report its Q4 and full-year 2022 results in early March, estimated that 2023 revenues will range from $205 million to $220 million as it charts a course to profitability by 2025.

"By combining the best of GeneDx and Sema4 to continue our growth, we sit at the intersection of diagnostics and data science, pairing decades of genomic interpretation expertise with an unmatched ability to analyze clinical data at scale," Stueland said in a statement. "GeneDx now has the capability to combine the power of genomic insights with clinical data to improve healthcare for people and populations."