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Exagen ( (XGN) ) just unveiled an update.
On May 8, 2025, Exagen Inc. entered into an underwriting agreement with Canaccord Genuity LLC for the issuance and sale of 3,350,000 shares of its common stock at $5.25 per share. The offering, expected to close on May 9, 2025, aims to raise approximately $16.2 million in net proceeds, which will be used for working capital and potential acquisitions. This move is part of Exagen’s strategy to enhance its financial position and explore growth opportunities in the autoimmune diagnostics market.
Spark’s Take on XGN Stock
According to Spark, TipRanks’ AI Analyst, XGN is a Neutral.
Exagen’s overall score reflects positive revenue growth and strategic initiatives, bolstered by strong technical indicators. However, high leverage, negative cash flows, and valuation challenges dampen the outlook. Improvements in profitability and financial stability are crucial for a more favorable score.
To see Spark’s full report on XGN stock, click here.
More about Exagen
Exagen Inc. is a leading provider of autoimmune diagnostics based in San Diego County, California. The company focuses on transforming care for patients with chronic autoimmune conditions through its innovative testing portfolio. Its flagship product, AVISE® CTD, aids in diagnosing complex autoimmune diseases such as lupus, rheumatoid arthritis, and Sjögren’s syndrome with greater accuracy.
Average Trading Volume: 129,817
Technical Sentiment Signal: Buy
Current Market Cap: $115.6M
See more data about XGN stock on TipRanks’ Stock Analysis page.