Exagen (XGN) expects to raise $50 million in an initial public offering on Thursday, September 19th, IPO Scoop reports. The company will be issuing 3,300,000 shares at a price of $14.00-$16.00 per share.
In the last 12 months, Exagen generated $37.6 million in revenue and had a net loss of $18.5 million. The company has a market cap of $168.5 million.
Cowen, Cantor and William Blair served as the underwriters for the IPO.
Exagen provided the following description of their company for its IPO: ” 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. We have developed and are commercializing a portfolio of innovative testing products under our AVISE® brand, several of which are based on our proprietary Cell-Bound Complement Activation Products, or CB-CAPs, technology. CB-CAPs assess the activation of the complement system, a biological pathway that is widely implicated across many autoimmune and autoimmune-related diseases, including systemic lupus erythematosus, or SLE. Our goal is to enable rheumatologists to improve care for patients through the differential diagnosis, prognosis and monitoring of complex autoimmune and autoimmune-related diseases, including SLE and rheumatoid arthritis, or RA. “.
Exagen was founded in 2002 and has 114 employees. The company is located at 1261 Liberty Way, Suite C, Vista, CA 92081, US and can be reached via phone at (760) 560-1501 or on the web at http://www.exagen.com.
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