Skip to main content
Premium Trial:

Request an Annual Quote

Exagen Records Sharp Increase in Revenues for First Nine Months of 2014

NEW YORK (GenomeWeb) – Exagen Diagnostics said in a regulatory document that its revenues through the first nine months of 2014 grew almost four-fold year over year.

The company, which filed in September with the US Securities and Exchange Commission for a $69 million initial public offering, said in an amended Form S-1 on Friday that it had $7.4 million in revenues for the nine months through Sept. 30, up from $2.0 million in the comparable period a year ago.

It had a net loss of $12.4 million in the first nine months of 2014, up from a net loss of $7.0 million in the year-ago period.

Exagen said it had $7.1 million in cash and cash equivalents as of Sept. 30.

The Vista, Calif.-based firm is developing diagnostics for autoimmune rheumatic diseases. Its lead test is Avise SLE+CT for diagnosing patients with autoimmune rheumatic diseases, such as system lupus erythematosus (SLE), rheumatoid arthritis, Sjögren's syndrome, scleroderma, and disorders that mimic autoimmune rheumatic diseases. Based on a blood draw, the test allows physicians to rule in or rule out SLE and provides information about the presence of other autoimmune rheumatic diseases.

The Scan

Should've Been Spotted Sooner

Scientists tell the Guardian that SARS-CoV-2 testing issues at a UK lab should have been noticed earlier.

For Martian Fuel

Researchers have outlined a plan to produce rocket fuel on Mars that uses a combination of sunlight, carbon dioxide, frozen water, cyanobacteria, and engineered E. coli, according to Gizmodo.

To Boost Rapid Testing

The Washington Post writes that new US programs aim to boost the availability of rapid at-home SARS-CoV-2 tests.

PNAS Papers on Strawberry Evolution, Cell Cycle Regulators, False-Positive Triplex Gene Editing

In PNAS this week: strawberry pan-genome, cell cycle-related roles for MDM2 and MDMX, and more.