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Exagen Preliminary Q4 Testing Revenues Increase 10 to 13 Percent

NEW YORK – Autoimmune disease diagnostic firm Exagen announced on Sunday a 10 to 13 percent year over year increase in its preliminary fourth quarter revenues.   

The company said in a statement it expects testing revenue to be between $10.5 million and $10.8 million, compared to $9.6 million in the fourth quarter of 2019. Exagen delivered approximately 28,600 Avise CTD tests in the quarter, with 635 adopters and a sequential quarterly retention rate of 99 percent among adopting healthcare providers from the previous quarter. 

The firm's preliminary results do not include revenue from its copromotion of Janssen Biotech's Simponi (golimumab) in the US, and the firm said it will deliver Simponi revenue and full consolidated revenue for the quarter when it reports complete financial results in March 2021.

"Our core testing business delivered record revenue, driven largely by record quarterly volumes for our flagship AVISE CTD test," Ron Rocca, president and CEO of the company, said in a statement. "It is also gratifying to note that we attained a record number of healthcare provider adopters in the quarter, along with another period of very high retention rates, which are indicative of the value healthcare providers place on our testing products."