Exagen Files for $57 Million IPO

August 26, 2019

Exagen filed the paperwork for a $57 Million IPO on 8/23/19. The company provides diagnostics to aid in the man"agement of autoimmune diseases. Exagen will trade on NASDAQ under the symbol "XGN."

Exagen currently markets nine products under its AVISE brand. In December 2018, the company entered into a co-promotion agreement with Janssen Biotech,  to exclusively promote SIMPONI (golimumab), a subcutaneous, once-per-month, anti-tumor necrosis factor, or anti-TNF, biologic prescribed in combination with methotrexate. Exogen believes that the specialized knowledge and training of its salesforce will allow it to be highly effective in promoting SIMPONI to rheumatologists.

The company intends to use the proceeds from the offering to fund sales and marketing activities and to continue to expand Research and Development of its diagnostic portfolio.

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