• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Dashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlerts
    Company
    AboutQuantisnow PlusContactJobs
    Legal
    Terms of usePrivacy policyCookie policy

    GeneDx Reports Fourth Quarter and Full Year 2024 Financial Results and Issues Guidance for Full Year 2025

    2/18/25 6:00:00 AM ET
    $BIIB
    $PRAX
    $STOK
    $WGS
    Biotechnology: Biological Products (No Diagnostic Substances)
    Health Care
    Biotechnology: Pharmaceutical Preparations
    Health Care
    Get the next $BIIB alert in real time by email

    Grew fourth quarter 2024 revenues1 to $95.3 million

    Expanded fourth quarter 2024 adjusted gross margins1,2 to 70%

    Generated fourth quarter 2024 adjusted net income2 of $16.8 million

    FY 2025 revenue guidance of $350M to $360M, exome/genome volume and revenue growth of at least 30%

    GeneDx to host conference call today at 8:30 a.m. ET

    GeneDx Holdings Corp. (NASDAQ:WGS), a leader in delivering improved health outcomes through genomic insights, today reported its financial results for the fourth quarter and full year of 2024.

    "The fourth quarter capped an outstanding year for GeneDx, as we work to end the diagnostic odyssey with earlier intervention using our industry-leading exome and genome testing for an ever-growing number of families. Importantly, diagnosing disease earlier with our cost-effective technology means GeneDx can help save the healthcare system valuable dollars," said Katherine Stueland, President and Chief Executive Officer of GeneDx. "Looking ahead, we'll introduce our testing to a larger population of patients, as we expand in the outpatient pediatric setting, the NICU, adult conditions, and eventually realize the promise of newborn screening. As we move into 2025 we have the financial strength, scale, and an incredibly talented team in place to fundamentally improve how we diagnose any genetic disease as early as possible so people can live longer, healthier lives."

    Fourth Quarter and Full Year 2024 Financial Results (Unaudited)1,2

    Revenues

    Fourth quarter 2024:

    • Revenues1 grew to $95.3 million, an increase of 64% year-over-year and 24% sequentially.
      • Total company GAAP revenues were $95.6 million.
    • Exome and genome test revenue grew to $78.8 million, an increase of 101% year-over-year and 31% sequentially.

    Full year 2024:

    • Revenues1 grew to $302.3 million, an increase of 56% year-over-year.
      • Total GAAP company revenues were $305.5 million.
    • Exome and genome test revenue grew to $233.5 million, an increase of 88% year-over-year.

    Exome and genome volume

    Fourth quarter 2024:

    • Exome and genome test results volume grew to 20,676, an increase of 32% year-over-year and 7% sequentially.
    • Exome and genome represented 38% of all test results, up from 27% in the fourth quarter of 2023 and up from 33% in the third quarter of 2024.

    Full year 2024:

    • Exome and genome test results volume grew to 74,547, an increase of 51% year-over-year.
    • Exome and genome represented 33% of all test results, up from 22% for the full year 2023.

    Gross margin

    Fourth quarter 2024:

    • Adjusted gross margin1 expanded to 70%, up from 56% in the fourth quarter of 2023 and up from 64% in the third quarter of 2024.
      • Total company GAAP gross margin was 69%.
    • Exome and genome adjusted gross margin operated in excess of 70%.

    Full year 2024:

    • Adjusted gross margin1 expanded to 65%, up from 45% for full year 2023.
      • Total company gross margin was 64%.
    • Exome and genome adjusted gross margin operated in excess of 70%.

    Operating expenses

    Fourth quarter 2024:

    • Adjusted total operating expenses were $49.0 million, an increase of 1% year-over-year.
      • Total GAAP operating expenses were $56.6 million.

    Full year 2024:

    • Adjusted total operating expenses were $185.9 million, a decrease of 14% year-over-year.
      • Total GAAP operating expenses were $214.2 million.

    Net income (loss)

    Fourth quarter 2024:

    • Adjusted net income of $16.8 million.
      • GAAP net income was $5.4 million.

    Full year 2024:

    • Adjusted net income of $6.7 million.
      • GAAP net loss was $52.3 million.

    Full year and fourth quarter 2024 revenues, gross margin and net income, all on both a GAAP and adjusted basis, includes $6.8 million of discrete benefit in connection with a multi-year appeal recovery from a single third-party payor. The fourth quarter benefit is composed of $5.8 million to exome genome revenues and $1.0 million to other test lines.

    Cash position

    • Cash, cash equivalents, marketable securities and restricted cash was $142.2 million as of December 31, 2024.
    • Cash flow for the fourth quarter 2024 included:
      • $12.4 million in cash generated from ordinary operations, including $6.8 million in discrete receipts in connection with a multi-year appeal recovery from a single payor; and
      • $31.9 million in proceeds, net of fees, from the issuance of 406,726 shares of Class A common stock in connection with sales pursuant to our "at-the-market" offering, offset by;
      • $19.6 million in scheduled payments to service previously recorded settlement liabilities of Legacy Sema4.
    1

    Revenue and adjusted gross margin results from continuing operations, which excludes any revenue from the exited Legacy Sema4 diagnostic testing business.

    2

    Adjusted gross margin, adjusted total operating expenses and adjusted net loss are non-GAAP financial measures. See appendix for a reconciliation of GAAP to Non-GAAP figures presented.

    GeneDx Full Year 2025 Guidance

    Management expects GeneDx to deliver full year 2025:

    • Revenues between $350 and $360 million and growth in exome/genome volume and revenue of at least 30%;
    • Adjusted gross margins between 65%-67%; and
    • Profitability with adjusted net income each quarter and for full year 2025.

    Business Highlights

    Driving sustainable growth and market leadership

    • Amassed a data set capturing over 750,000 clinical exomes and genomes. The data set is complemented by over 6 million expertly annotated and curated phenotypic datapoints, and nearly two-thirds of all cases within the data set represent parent-child duos/trios.
    • Accelerated adoption of exome and genome sequencing coverage by state Medicaid programs, bringing the total states covering exome or genome sequencing in the pediatric outpatient setting to 32 and the total states covering rapid genome sequencing in the neonatal intensive care unit (NICU) to 14.
      • South Carolina – Exome and genome (December 2024)
      • Montana – Exome and genome (November 2024)
      • Florida - Genome (October 2024)
      • Texas – Genome (September 2024)
      • Indiana – Exome and genome (July 2024)
      • Tennessee – Genome (July 2024)
      • Connecticut – Genome (July 2024)
      • North Carolina – Exome and genome (June 2024)
      • New York – Exome (April 2024)
      • South Dakota – Genome (March 2024)
      • Georgia - Genome (January 2024)
    • In February 2025, announced ultraRapid Whole Genome Sequencing, offering accelerated, comprehensive and actionable genomic insights for neonatal and pediatric patients in the NICU and PICU in as soon as two days.
    • In February 2025, launched Epic Aura3, which seamlessly integrates GeneDx exome and genome testing into the native ordering and resulting workflows of many of the largest health systems across the country.
    • In January 2025, launched a new telehealth testing pathway that aims to shorten the diagnostic odyssey by opening access and streamlining the referral process to better support patients and families in need of exome testing.
    • In January 2025, announced Bryan Dechairo as Chief Operating Officer.
    • In the fourth quarter 2024, launched major enhancements to GeneDx's whole genome sequencing (WGS) products, which accelerate diagnoses and shorten the diagnostic odyssey for patients. These new features include:
      • Faster turnaround time for rapid whole genome sequencing (rWGS): through lab optimization efforts, GeneDx significantly reduced rWGS turnaround times to provide written results in as soon as 5 days, a critical update for timely diagnosis and treatment decisions.
      • Buccal samples (cheek swab): expanded sample collection options by adding buccal swab for WGS patients, enabling an easier and more accessible non-invasive sample collection method. Buccal samples for WGS were only previously available to family members for trio testing and for all exome testing.
      • Added content: expanded the number of repeat expansions covered by WGS to increase diagnostic yield and decrease the need for follow-up testing.
    • In December 2024, expanded the Epilepsy Partnership Program launched in the third quarter of 2024, a first-of-its-kind patient access program that is increasing access to exome and genome sequencing for pediatric epilepsy patients, with Biogen (NASDAQ:BIIB), Praxis Precision Medicines (NASDAQ:PRAX) and Stoke Therapeutics (NASDAQ:STOK) as the founding partners.
    • In November 2024, launched GeneDx Discover, a first-of-its-kind data visualization tool that provides biopharmaceutical companies access to de-identified and aggregated genetic data to improve all stages of drug development.
    • In November 2024, announced Heidi Chen as Chief Legal Officer and Corporate Secretary, responsible for the company's legal, compliance, and policy functions.
    • In April 2024, announced a strategic partnership with Komodo Health. The partnership increased access to GeneDx's extensive de-identified rare disease data set through Komodo Health's MapEnhance offering, enabling biopharma companies to access genetic insights that can help inform drug pipelines and accelerate clinical trial enrollment.

    Advancing the field to accelerate market expansion

    • Advanced the understanding of gene-disease relationships by contributing to more than 85 peer-reviewed publications in 2024, which influenced the broadening of phenotypes, the discovery of new disease mechanisms and new modes of inheritance.
    • In November 2024, presented data at the American Society of Human Genetics (ASHG) annual meeting that demonstrated:
      • rWGS in the NICU leads to changes in clinical care: In collaboration with SeqFirst, patient cases were analyzed when a diagnosis was found with rWGS to understand how decisions were made with genomic sequencing and what is missed in its absence when only using conventional care protocols.
      • Racial disparities in an accurate genetic diagnosis is not due to diagnostic yields: In one of the largest studies to look at ancestral backgrounds and genetic diagnosis, GeneDx, the University of Washington, and Geisinger explored the value of a diverse interpretation engine and whether diagnostic yield varies significantly based on ancestral background or if other factors are limiting access to a genetic diagnosis. The study demonstrated the strength of GeneDx's diverse database and that disparities in precise genetic diagnosis are not due to diagnostic yields, but rather larger systemic structural barriers which may include complex workflows, costs, clinician shortages, unconscious biases and more.
      • Data validation for long read sequencing: With growing interest in the field to explore the clinical utility of long read sequencing, validation data was presented assessing the sensitivity of PacBio's HiFi long read sequencing to detect cases with a confirmed answer on short read WGS. Initial data confirmed that long read sequencing can identify variants not detected using short read sequencing.
      • Genetic variants linked to Autism Spectrum Disorder (ASD): Working alongside the Autism Sequencing Consortium, research identified 230 new genes associated with ASD. This molecular evidence underscores the effectiveness and accuracy of genetic diagnostics compared to current methods, which rely on parents' or caregivers' accounts of their child's development or professional observations of behavior.
    • In September 2024, collaborated with researchers from Wellcome Sanger Institute to release data from the largest and most diverse study to date, with data from more than 30,000 patients, on how recessive genetic changes contribute to developmental disorders in children. The findings from the study were published in Nature Genetics.
    • In March 2024, presented data at the American College of Medical Genetics (ACMG) that demonstrated the clinical superiority of exome testing over chromosomal microarray (CMA) and showcased GeneDx's groundbreaking approach to genomic data analysis and interpretation for exome testing.

    Leading in genomic newborn screening (gNBS)

    • In October 2024, findings from the GUARDIAN study were published in JAMA (Journal of the American Medical Association), a leading peer-reviewed medical journal, demonstrating the limitations of traditional newborn screening methods and showcasing the promise of advanced genomic technology to deliver equitable health care for all children.
      • The study revealed a 3.2% true positive rate, and 92% of true positives would not have been detected with today's standard newborn screening.
    • In October 2024, data was presented at the International Conference on Newborn Sequencing (ICoNS) showcasing that GeneDx has now provided genomic newborn screenings for more than 14,000 infants through its participation in the groundbreaking GUARDIAN and Early Check research studies. Today, that number exceeds 17,000.
      • A retrospective analysis of GeneDx data showed that more than 20% of individuals could have identified their genetic disease, on average, 7 to 11 years sooner had they received genome sequencing at birth.
    3

    Epic and Aura are trademarks of Epic Systems Corporation.

    Webcast and Conference Call Details

    GeneDx will host a conference call today, February 18, 2025, at 8:30 a.m. Eastern Time. Investors interested in listening to the conference call are required to register online. A live and archived webcast of the event will be available on the "Events" section of the GeneDx investor relations website at https://ir.genedx.com/.

    Forward-Looking Statements

    This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding our future performance and our market opportunity, including our expected full year 2025 reported revenue guidance, our expectations regarding our adjusted gross margin profile in 2025 and our use of net cash in 2025. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) our ability to implement business plans, goals and forecasts, and identify and realize additional opportunities, (ii) the risk of downturns and a changing regulatory landscape in the highly competitive healthcare industry, (iii) the size and growth of the market in which we operate, (iv) our ability to pursue our new strategic direction, and (vi) our ability to enhance our artificial intelligence tools that we use in our clinical interpretation platform. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the U.S. Securities and Exchange Commission (the "SEC") on February 23, 2024 and other documents filed by us from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. We do not give any assurance that we will achieve our expectations.

    About GeneDx

    At GeneDx (NASDAQ:WGS), we believe that everyone deserves personalized, targeted medical care—and that it all begins with a genetic diagnosis. Fueled by one of the world's largest rare disease data sets, our industry-leading exome and genome tests translate complex genomic data into clinical answers that unlock personalized health plans, accelerate drug discovery, and improve health system efficiencies. For more information, please visit genedx.com and connect with us on LinkedIn, Facebook, and Instagram.

    Volume and revenue in the table below include the combination of the Legacy GeneDx diagnostic business with the data and information business of Legacy Sema4.

    Volume & Revenue

     

    4Q24

     

    3Q24

     

    2Q24

     

    1Q24

     

    4Q23

     

    2024 YTD

     

    2023 YTD

    Volumes

     

     

     

     

     

     

     

     

     

     

     

     

     

    Whole exome, whole genome

     

    20,676

     

     

    19,262

     

     

     

    18,017

     

     

    16,592

     

     

    15,663

     

     

    74,547

     

     

    49,439

    Hereditary cancer

     

    3,486

     

     

    4,672

     

     

     

    5,482

     

     

    6,868

     

     

    8,240

     

     

    20,508

     

     

    31,058

    Other panels

     

    30,115

     

     

    35,095

     

     

     

    34,204

     

     

    31,763

     

     

    33,692

     

     

    131,177

     

     

    142,437

    Total

     

    54,277

     

     

    59,029

     

     

     

    57,703

     

     

    55,223

     

     

    57,595

     

     

    226,232

     

     

    222,934

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Revenue ($ millions)

     

     

     

     

     

     

     

     

     

     

     

     

     

    Whole exome, whole genome

    $

    78.8

     

    $

    60.0

     

     

    $

    50.7

     

    $

    44.0

     

    $

    39.2

     

    $

    233.5

     

    $

    124.3

    Hereditary cancer

     

    2.8

     

     

    3.3

     

     

     

    3.8

     

     

    5.5

     

     

    5.5

     

     

    15.4

     

     

    18.1

    Other panels

     

    12.3

     

     

    13.8

     

     

     

    13.3

     

     

    10.7

     

     

    11.2

     

     

    50.1

     

     

    45.1

    Data information

     

    1.4

     

     

    (0.5

    )

     

     

    1.1

     

     

    1.3

     

     

    2.2

     

     

    3.3

     

     

    6.9

    Total

    $

    95.3

     

    $

    76.6

     

     

    $

    68.9

     

    $

    61.5

     

    $

    58.1

     

    $

    302.3

     

    $

    194.4

     

    Unaudited Select Financial Information (in thousands)

     

    Three months ended December 31, 2024

     

    Three months ended December 31, 2023

     

    GeneDx

     

    Other1

     

    Total

     

    GeneDx

     

    Other1

     

    Total

    Revenue

    $

    95,286

     

     

    $

    354

     

    $

    95,640

     

     

    $

    58,107

     

     

    $

    (689

    )

     

    $

    57,418

     

    Adjusted cost of services

     

    28,384

     

     

     

    —

     

     

    28,384

     

     

     

    25,626

     

     

     

    —

     

     

     

    25,626

     

    Adjusted gross profit (loss)

    $

    66,902

     

     

    $

    354

     

    $

    67,256

     

     

    $

    32,481

     

     

    $

    (689

    )

     

    $

    31,792

     

    Adjusted gross margin %

     

    70.2

    %

     

     

     

     

    70.3

    %

     

     

    55.9

    %

     

     

     

     

    55.4

    %

     
     

     

    Year ended December 31, 2024

     

    Year ended December 31, 2023

     

    GeneDx

     

    Other1

     

    Total

     

    GeneDx

     

    Other1

     

    Total

    Revenue

    $

    302,293

     

     

    $

    3,157

     

    $

    305,450

     

     

    $

    194,376

     

     

    $

    8,190

     

     

    $

    202,566

     

    Adjusted cost of services

     

    106,376

     

     

     

    145

     

     

    106,521

     

     

     

    106,983

     

     

     

    2,305

     

     

     

    109,288

     

    Adjusted gross profit (loss)

    $

    195,917

     

     

    $

    3,012

     

    $

    198,929

     

     

    $

    87,393

     

     

    $

    5,885

     

     

    $

    93,278

     

    Adjusted gross margin %

     

    64.8

    %

     

     

     

     

    65.1

    %

     

     

    45.0

    %

     

     

     

     

    46.0

    %

     

    Three months ended September 30, 2024

     

    GeneDx

     

    Other1

     

    Total

    Revenue

    $

    76,622

     

     

    $

    252

     

    $

    76,874

     

    Adjusted cost of services

     

    27,370

     

     

     

    —

     

     

    27,370

     

    Adjusted gross profit (loss)

    $

    49,252

     

     

    $

    252

     

    $

    49,504

     

    Adjusted gross margin %

     

    64.3

    %

     

     

     

     

    64.4

    %

    1

    Other represents revenue and costs associated with the Legacy Sema4 diagnostic testing business.

     

     

    For the three months ended December 31, 2024

     

    Reported

     

    Depreciation

    and

    amortization

     

    Stock-based

    compensation

    expense

     

    Restructuring

    costs

     

    Change in FV

    of financial

    liabilities

     

    Other

     

    Adjusted

    Diagnostic test revenue

    $

    94,196

     

     

    $

    —

     

     

    $

    —

     

     

    $

    —

     

     

    $

    —

     

    $

    —

     

    $

    94,196

     

    Other revenue

     

    1,444

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

    —

     

     

    1,444

     

    Total revenue

     

    95,640

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

    —

     

     

    95,640

     

    Cost of services

     

    29,435

     

     

     

    (928

    )

     

     

    (123

    )

     

     

    —

     

     

     

    —

     

     

    —

     

     

    28,384

     

    Gross profit

     

    66,205

     

     

     

    928

     

     

     

    123

     

     

     

    —

     

     

     

    —

     

     

    —

     

     

    67,256

     

    Gross margin

     

    69.2

    %

     

     

     

     

     

     

     

     

     

     

     

     

    70.3

    %

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Research and development

     

    11,588

     

     

     

    (294

    )

     

     

    (495

    )

     

     

    (13

    )

     

     

    —

     

     

    —

     

     

    10,786

     

    Selling and marketing

     

    17,676

     

     

     

    (1,225

    )

     

     

    (347

    )

     

     

    (30

    )

     

     

    —

     

     

    —

     

     

    16,074

     

    General and administrative

     

    27,350

     

     

     

    (3,111

    )

     

     

    (1,880

    )

     

     

    (249

    )

     

     

    —

     

     

    —

     

     

    22,110

     

    Other, net

     

    785

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

    —

     

     

    785

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Profit from operations

     

    8,806

     

     

     

    5,558

     

     

     

    2,845

     

     

     

    292

     

     

     

    —

     

     

    —

     

     

    17,501

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Interest income (expense), net

     

    (698

    )

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

    —

     

     

    (698

    )

    Other income (expense), net

     

    (2,694

    )

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    1,980

     

     

    666

     

     

    (48

    )

    Income tax benefit

     

    24

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

    —

     

     

    24

     

    Net income

    $

    5,438

     

     

    $

    5,558

     

     

    $

    2,845

     

     

    $

    292

     

     

    $

    1,980

     

    $

    666

     

    $

    16,779

     

     

     

    For the three months ended December 31, 2023

     

    Reported

     

    Depreciation

    and

    amortization

     

    Stock-based

    compensation

    expense

     

    Restructuring

    costs

     

    Change in FV

    of financial

    liabilities

     

    Other

     

    Adjusted

    Diagnostic test revenue

    $

    55,214

     

     

    $

    —

     

     

    $

    —

     

     

    $

    —

     

     

    $

    —

     

     

    $

    —

     

     

    $

    55,214

     

    Other revenue

     

    2,204

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    2,204

     

    Total revenue

     

    57,418

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    57,418

     

    Cost of services

     

    26,664

     

     

     

    (915

    )

     

     

    (123

    )

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    25,626

     

    Gross profit

     

    30,754

     

     

     

    915

     

     

     

    123

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    31,792

     

    Gross margin

     

    53.6

    %

     

     

     

     

     

     

     

     

     

     

     

     

    55.4

    %

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Research and development

     

    12,248

     

     

     

    (919

    )

     

     

    2,320

     

     

     

    (1,300

    )

     

     

    —

     

     

     

    —

     

     

     

    12,349

     

    Selling and marketing

     

    15,559

     

     

     

    (1,225

    )

     

     

    1,071

     

     

     

    (488

    )

     

     

    —

     

     

     

    —

     

     

     

    14,917

     

    General and administrative

     

    26,626

     

     

     

    (3,035

    )

     

     

    (2,356

    )

     

     

    (196

    )

     

     

    —

     

     

     

    —

     

     

     

    21,039

     

    Other, net

     

    1,964

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    (1,277

    )

     

     

    687

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Loss from operations

     

    (25,643

    )

     

     

    6,094

     

     

     

    (912

    )

     

     

    1,984

     

     

     

    —

     

     

     

    1,277

     

     

     

    (17,200

    )

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Interest income (expense), net

     

    (978

    )

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    (978

    )

    Other income (expense), net

     

    437

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    (485

    )

     

     

    48

     

     

     

    —

     

    Income tax benefit

     

    411

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    411

     

    Net loss

    $

    (25,773

    )

     

    $

    6,094

     

     

    $

    (912

    )

     

    $

    1,984

     

     

    $

    (485

    )

     

    $

    1,325

     

     

    $

    (17,767

    )

     

     

    For the year ended December 31, 2024

     

    Reported

     

    Depreciation

    and

    amortization

     

    Stock-based

    compensation

    expense

     

    Restructuring

    costs

     

    Change in FV

    of financial

    liabilities

     

    Other

     

    Adjusted

    Diagnostic test revenue

    $

    302,157

     

     

    $

    —

     

     

    $

    —

     

     

    $

    —

     

     

    $

    —

     

    $

    —

     

    $

    302,157

     

    Other revenue

     

    3,293

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

    —

     

     

    3,293

     

    Total revenue

     

    305,450

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

    —

     

     

    305,450

     

    Cost of services

     

    111,053

     

     

     

    (4,047

    )

     

     

    (431

    )

     

     

    (54

    )

     

     

    —

     

     

    —

     

     

    106,521

     

    Gross profit

     

    194,397

     

     

     

    4,047

     

     

     

    431

     

     

     

    54

     

     

     

    —

     

     

    —

     

     

    198,929

     

    Gross margin

     

    63.6

    %

     

     

     

     

     

     

     

     

     

     

     

     

    65.1

    %

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Research and development

     

    45,722

     

     

     

    (923

    )

     

     

    (1,192

    )

     

     

    (151

    )

     

     

    —

     

     

    —

     

     

    43,456

     

    Selling and marketing

     

    67,371

     

     

     

    (4,900

    )

     

     

    (1,089

    )

     

     

    (548

    )

     

     

    —

     

     

    —

     

     

    60,834

     

    General and administrative

     

    101,110

     

     

     

    (12,083

    )

     

     

    (6,426

    )

     

     

    (999

    )

     

     

    —

     

     

    —

     

     

    81,602

     

    Other, net

     

    3,407

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

    —

     

     

    3,407

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Profit (loss) from operations

     

    (23,213

    )

     

     

    21,953

     

     

     

    9,138

     

     

     

    1,752

     

     

     

    —

     

     

    —

     

     

    9,630

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Interest income (expense), net

     

    (3,032

    )

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

    —

     

     

    (3,032

    )

    Other income (expense), net

     

    (26,384

    )

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    13,370

     

     

    12,789

     

     

    (225

    )

    Income tax benefit

     

    343

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

    —

     

     

    343

     

    Net (loss) income

    $

    (52,286

    )

     

    $

    21,953

     

     

    $

    9,138

     

     

    $

    1,752

     

     

    $

    13,370

     

    $

    12,789

     

    $

    6,716

     

     

     

    For the year ended December 31, 2023

     

    Reported

     

    Depreciation

    and

    amortization

     

    Stock-based

    compensation

    expense

     

    Restructuring

    costs

     

    Change in FV

    of financial

    liabilities

     

    Other

     

    Adjusted

    Diagnostic test revenue

    $

    195,654

     

     

    $

    —

     

     

    $

    —

     

     

    $

    —

     

     

    $

    —

     

     

     

    —

     

     

    $

    195,654

     

    Other revenue

     

    6,912

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    6,912

     

    Total revenue

     

    202,566

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    202,566

     

    Cost of services

     

    112,560

     

     

     

    (4,350

    )

     

     

    1,217

     

     

     

    (139

    )

     

     

    —

     

     

     

    —

     

     

     

    109,288

     

    Gross profit

     

    90,006

     

     

     

    4,350

     

     

     

    (1,217

    )

     

     

    139

     

     

     

    —

     

     

     

    —

     

     

     

    93,278

     

    Gross margin

     

    44.4

    %

     

     

     

     

     

     

     

     

     

     

     

     

    46.0

    %

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Research and development

     

    58,266

     

     

     

    (6,710

    )

     

     

    2,585

     

     

     

    (3,176

    )

     

     

    —

     

     

     

    —

     

     

     

    50,965

     

    Selling and marketing

     

    60,956

     

     

     

    (4,902

    )

     

     

    1,266

     

     

     

    (1,371

    )

     

     

    —

     

     

     

    —

     

     

     

    55,949

     

    General and administrative

     

    133,755

     

     

     

    (17,772

    )

     

     

    (4,742

    )

     

     

    (1,846

    )

     

     

    —

     

     

     

    —

     

     

     

    109,395

     

    Impairment loss

     

    10,402

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    (10,402

    )

     

     

    —

     

    Other, net

     

    7,223

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    (1,957

    )

     

     

    5,266

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Loss from operations

     

    (180,596

    )

     

     

    33,734

     

     

     

    (326

    )

     

     

    6,532

     

     

     

    —

     

     

     

    12,359

     

     

     

    (128,297

    )

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Interest income (expense), net

     

    1,114

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    1,114

     

    Other income (expense), net

     

    2,789

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    (1,170

    )

     

     

    (1,619

    )

     

     

    —

     

    Income tax benefit

     

    926

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    926

     

    Net loss

    $

    (175,767

    )

     

    $

    33,734

     

     

    $

    (326

    )

     

    $

    6,532

     

     

    $

    (1,170

    )

     

    $

    10,740

     

     

    $

    (126,257

    )

     

     

    For the three months ended September 30, 2024

     

    Reported

     

    Depreciation

    and

    amortization

     

    Stock-based

    compensation

    expense

     

    Restructuring

    costs

     

    Change in FV

    of financial

    liabilities

     

    Other

     

    Adjusted

    Diagnostic test revenue

    $

    77,418

     

     

    $

    —

     

     

    $

    —

     

     

    $

    —

     

     

    $

    —

     

    $

    —

     

     

    $

    77,418

     

    Other revenue

     

    (544

    )

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

    —

     

     

     

    (544

    )

    Total revenue

     

    76,874

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

    —

     

     

     

    76,874

     

    Cost of services

     

    29,045

     

     

     

    (1,495

    )

     

     

    (174

    )

     

     

    (6

    )

     

     

     

     

     

     

    27,370

     

    Gross profit

     

    47,829

     

     

     

    1,495

     

     

     

    174

     

     

     

    6

     

     

     

    —

     

     

    —

     

     

     

    49,504

     

    Gross margin

     

    62.2

    %

     

     

     

     

     

     

     

     

     

     

     

     

    64.4

    %

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Research and development

     

    11,665

     

     

     

    (222

    )

     

     

    (537

    )

     

     

    —

     

     

     

    —

     

     

    —

     

     

     

    10,906

     

    Selling and marketing

     

    17,025

     

     

     

    (1,225

    )

     

     

    (394

    )

     

     

    (55

    )

     

     

    —

     

     

    —

     

     

     

    15,351

     

    General and administrative

     

    26,145

     

     

     

    (2,987

    )

     

     

    (2,531

    )

     

     

    (308

    )

     

     

    —

     

     

    —

     

     

     

    20,319

     

    Other, net

     

    774

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

    —

     

     

     

    774

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Profit (loss) from operations

     

    (7,780

    )

     

     

    5,929

     

     

     

    3,636

     

     

     

    369

     

     

     

    —

     

     

    —

     

     

     

    2,154

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Interest income (expense), net

     

    (843

    )

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

    —

     

     

     

    (843

    )

    Other income (expense), net

     

    264

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    880

     

     

    (1,327

    )

     

     

    (183

    )

    Income tax benefit

     

    47

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

    —

     

     

     

    47

     

    Net (loss) income

    $

    (8,312

    )

     

    $

    5,929

     

     

    $

    3,636

     

     

    $

    369

     

     

    $

    880

     

    $

    (1,327

    )

     

    $

    1,175

     

     

    GeneDx Holdings Corp.

    Consolidated Balance Sheets

    (in thousands, except share and per share amounts)

     

     

    December 31,

     

     

    2024

     

     

     

    2023

     

    Assets

     

     

     

    Current assets:

     

     

     

    Cash and cash equivalents

    $

    85,212

     

     

    $

    99,681

     

    Marketable securities

     

    55,973

     

     

     

    30,467

     

    Accounts receivable

     

    37,426

     

     

     

    32,371

     

    Due from related parties

     

    203

     

     

     

    445

     

    Inventory, net

     

    10,650

     

     

     

    8,777

     

    Prepaid expenses and other current assets

     

    8,504

     

     

     

    10,598

     

    Total current assets

     

    197,968

     

     

     

    182,339

     

    Operating lease right-of-use assets

     

    25,613

     

     

     

    26,900

     

    Property and equipment, net

     

    32,893

     

     

     

    32,479

     

    Intangible assets, net

     

    158,600

     

     

     

    172,625

     

    Other assets

     

    4,306

     

     

     

    4,413

     

    Total assets

    $

    419,380

     

     

    $

    418,756

     

    Liabilities and Stockholders' Equity

     

     

     

    Current liabilities:

     

     

     

    Accounts payable and accrued expenses

    $

    30,044

     

     

    $

    37,456

     

    Due to related parties

     

    1,607

     

     

     

    1,379

     

    Short-term lease liabilities

     

    3,336

     

     

     

    3,647

     

    Other current liabilities

     

    19,830

     

     

     

    16,336

     

    Total current liabilities

     

    54,817

     

     

     

    58,818

     

    Long-term debt, net of current portion

     

    51,913

     

     

     

    52,688

     

    Long-term lease liabilities

     

    60,919

     

     

     

    62,938

     

    Other liabilities

     

    5,519

     

     

     

    14,735

     

    Deferred taxes

     

    965

     

     

     

    1,560

     

    Total liabilities

     

    174,133

     

     

     

    190,739

     

    Stockholders' Equity:

     

     

     

    Preferred stock

     

    —

     

     

     

    —

     

    Class A common stock

     

    2

     

     

     

    2

     

    Additional paid-in capital

     

    1,596,889

     

     

     

    1,527,778

     

    Accumulated deficit

     

    (1,352,474

    )

     

     

    (1,300,188

    )

    Accumulated other comprehensive income

     

    830

     

     

     

    425

     

    Total stockholders' equity

     

    245,247

     

     

     

    228,017

     

    Total liabilities and stockholders' equity

    $

    419,380

     

     

    $

    418,756

     

     

    GeneDx Holdings Corp.

    Consolidated Statements of Operations

    (in thousands, except share and per share amounts)

     

     

    Year ended December 31,

     

     

    2024

     

     

     

    2023

     

    Revenue

     

     

     

    Diagnostic test revenue

    $

    302,157

     

     

    $

    195,654

     

    Other revenue

     

    3,293

     

     

     

    6,912

     

    Total revenue

     

    305,450

     

     

     

    202,566

     

    Cost of services

     

    111,053

     

     

     

    112,560

     

    Gross profit

     

    194,397

     

     

     

    90,006

     

    Research and development

     

    45,722

     

     

     

    58,266

     

    Selling and marketing

     

    67,371

     

     

     

    60,956

     

    General and administrative

     

    101,110

     

     

     

    133,755

     

    Impairment loss

     

    —

     

     

     

    10,402

     

    Other operating expenses, net

     

    3,407

     

     

     

    7,223

     

    Loss from operations

     

    (23,213

    )

     

     

    (180,596

    )

     

     

     

     

    Non-operating (expenses) income, net

     

     

     

    Change in fair value of warrants and contingent liabilities

     

    (13,370

    )

     

     

    1,170

     

    Interest (expense) income, net

     

    (3,032

    )

     

     

    1,114

     

    Other (expense) income, net

     

    (13,014

    )

     

     

    1,619

     

    Total non-operating (expense) income, net

     

    (29,416

    )

     

     

    3,903

     

    Loss before income taxes

    $

    (52,629

    )

     

    $

    (176,693

    )

    Income tax benefit

     

    343

     

     

     

    926

     

    Net loss

    $

    (52,286

    )

     

    $

    (175,767

    )

     

     

     

     

    Weighted average shares outstanding of Class A common stock

     

    26,891,213

     

     

     

    24,311,989

     

    Basic and diluted net loss per share, Class A common stock

    $

    (1.94

    )

     

    $

    (7.23

    )

     

    GeneDx Holdings Corp.

    Consolidated Statements of Cash Flows

    (in thousands)

     

     

    Year Ended December 31,

     

     

    2024

     

     

     

    2023

     

    Operating activities

     

     

     

    Net loss

    $

    (52,286

    )

     

    $

    (175,767

    )

    Adjustments to reconcile net loss to net cash used in operating activities:

     

     

     

    Depreciation and amortization expense

     

    21,953

     

     

     

    33,734

     

    Stock-based compensation expense

     

    9,138

     

     

     

    (326

    )

    Change in fair value of warrants and contingent liabilities

     

    13,370

     

     

     

    (1,170

    )

    Deferred tax benefit

     

    (343

    )

     

     

    (926

    )

    Provision for excess and obsolete inventory

     

    180

     

     

     

    3,913

     

    Change in third party payor reserves

     

    607

     

     

     

    (9,745

    )

    Gain on sale of assets

     

    —

     

     

     

    (1,677

    )

    Gain on debt forgiveness

     

    —

     

     

     

    (2,750

    )

    Impairment loss

     

    —

     

     

     

    10,402

     

    Other

     

    3,630

     

     

     

    2,406

     

    Change in operating assets and liabilities:

     

     

     

    Accounts receivable

     

    (5,421

    )

     

     

    10,263

     

    Inventory

     

    (2,585

    )

     

     

    975

     

    Accounts payable and accrued expenses

     

    (20,461

    )

     

     

    (46,953

    )

    Other assets and liabilities

     

    3,722

     

     

     

    (2,526

    )

    Net cash used in operating activities

     

    (28,496

    )

     

     

    (180,147

    )

    Investing activities

     

     

     

    Proceeds from maturities of marketable securities

     

    41,060

     

     

     

    17,765

     

    Purchases of marketable securities

     

    (66,302

    )

     

     

    (47,670

    )

    Purchases of property and equipment

     

    (5,491

    )

     

     

    (5,250

    )

    Proceeds from sales of marketable securities

     

    601

     

     

     

    —

     

    Consideration on escrow paid for Legacy GeneDx acquisition

     

    —

     

     

     

    (12,144

    )

    Proceeds from sales of assets

     

    —

     

     

     

    4,034

     

    Development of internal-use software assets

     

    —

     

     

     

    (461

    )

    Net cash used in investing activities

     

    (30,132

    )

     

     

    (43,726

    )

    Financing activities

     

     

     

    Proceeds from offerings, net of issuance costs

     

    46,496

     

     

     

    143,002

     

    Exercise of stock options

     

    394

     

     

     

    285

     

    Issuance of stock pursuant to employee stock purchase plan

    497

    —

     

    Long-term debt principal payments

     

    (497

    )

     

     

    (2,000

    )

    Finance lease payoff and principal payments

     

    (2,728

    )

     

     

    (3,598

    )

    Proceeds from long-term debt

     

    —

     

     

     

    48,549

     

    Net cash provided by financing activities

     

    44,162

     

     

     

    186,238

     

    Net decrease in cash, cash equivalents and restricted cash

     

    (14,466

    )

     

     

    (37,635

    )

    Cash, cash equivalents and restricted cash, at beginning of year

     

    100,668

     

     

     

    138,303

     

    Cash, cash equivalents and restricted cash, at end of year

    $

    86,202

     

     

    $

    100,668

     

    Cash, cash equivalents and restricted cash at December 31, 2024 excludes marketable securities of $56.0 million.

    View source version on businesswire.com: https://www.businesswire.com/news/home/20250218001560/en/

    Investor Relations Contact:

    [email protected]

    Media Contact:

    [email protected]

    Get the next $BIIB alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $BIIB
    $PRAX
    $STOK
    $WGS

    CompanyDatePrice TargetRatingAnalyst
    Praxis Precision Medicines Inc.
    $PRAX
    5/7/2025$80.00Buy
    Chardan Capital Markets
    Biogen Inc.
    $BIIB
    4/28/2025$118.00Buy → Hold
    HSBC Securities
    Biogen Inc.
    $BIIB
    4/4/2025Buy → Hold
    Argus
    Praxis Precision Medicines Inc.
    $PRAX
    3/3/2025$120.00 → $105.00Buy
    H.C. Wainwright
    Praxis Precision Medicines Inc.
    $PRAX
    2/11/2025$111.00Buy
    Deutsche Bank
    Biogen Inc.
    $BIIB
    2/11/2025$160.00Mkt Perform
    Bernstein
    Biogen Inc.
    $BIIB
    1/2/2025$315.00 → $138.00Overweight → Neutral
    Piper Sandler
    Stoke Therapeutics Inc.
    $STOK
    12/20/2024$24.00Buy
    Chardan Capital Markets
    More analyst ratings

    $BIIB
    $PRAX
    $STOK
    $WGS
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • GeneDx Announces Completion of Fabric Genomics Acquisition

      Closing unlocks the next phase of genomic medicine, enabling an end-to-end centralized and decentralized model for offering clinically-actionable genomic insights at a global scale GeneDx (NASDAQ:WGS), a leader in delivering improved health outcomes through genomic insights, today announced the successful completion of its acquisition of Fabric Genomics, a pioneer in AI-powered genomic interpretation. Together, GeneDx and Fabric Genomics are ushering in the next era of genomic medicine, enabling decentralized testing powered by centralized intelligence to set the standard of care across the globe. "Healthcare is at an inflection point where genomic insights must be integrated into standar

      5/7/25 8:30:00 AM ET
      $WGS
      Retail: Computer Software & Peripheral Equipment
      Technology
    • Praxis Precision Medicines Highlights DEE Clinical Program Updates at Virtual Investor Event

      BOSTON, May 05, 2025 (GLOBE NEWSWIRE) -- Praxis Precision Medicines, Inc. (NASDAQ:PRAX), a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for central nervous system (CNS) disorders characterized by neuronal excitation-inhibition imbalance, hosted a virtual investor event on its clinical programs in developmental and epileptic encephalopathies (DEEs) on Friday, May 2, 2025. "We were excited to highlight the significant opportunity in DEEs and progress Praxis is making in this field," said Marcio Souza, president and chief executive officer of Praxis. "Relutrigine continues to show tremendous promise to broadly address the DEE market

      5/5/25 8:00:00 AM ET
      $IONS
      $PRAX
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Praxis Precision Medicines, Inc. Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

      BOSTON, May 02, 2025 (GLOBE NEWSWIRE) -- Praxis Precision Medicines, Inc. (NASDAQ:PRAX), a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for central nervous system (CNS) disorders characterized by neuronal excitation-inhibition imbalance, today announced that on May 1, 2025, the Compensation Committee of Praxis' Board of Directors granted restricted stock unit awards covering an aggregate of 3,688 shares of its common stock to five new non-executive employees under the Praxis Precision Medicines, Inc. 2024 Inducement Plan (the 2024 Inducement Plan). The restricted stock units were granted as inducements material to the employees' en

      5/2/25 5:00:00 PM ET
      $PRAX
      Biotechnology: Pharmaceutical Preparations
      Health Care

    $BIIB
    $PRAX
    $STOK
    $WGS
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • Amendment: SEC Form SC 13D/A filed by GeneDx Holdings Corp.

      SC 13D/A - GeneDx Holdings Corp. (0001818331) (Subject)

      11/20/24 9:36:13 PM ET
      $WGS
      Retail: Computer Software & Peripheral Equipment
      Technology
    • Amendment: SEC Form SC 13D/A filed by GeneDx Holdings Corp.

      SC 13D/A - GeneDx Holdings Corp. (0001818331) (Subject)

      11/19/24 8:00:24 PM ET
      $WGS
      Retail: Computer Software & Peripheral Equipment
      Technology
    • Amendment: SEC Form SC 13G/A filed by Stoke Therapeutics Inc.

      SC 13G/A - Stoke Therapeutics, Inc. (0001623526) (Subject)

      11/14/24 9:00:58 PM ET
      $STOK
      Biotechnology: Pharmaceutical Preparations
      Health Care

    $BIIB
    $PRAX
    $STOK
    $WGS
    SEC Filings

    See more
    • SEC Form FWP filed by Biogen Inc.

      FWP - BIOGEN INC. (0000875045) (Subject)

      5/6/25 5:26:23 PM ET
      $BIIB
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care
    • Praxis Precision Medicines Inc. filed SEC Form 8-K: Regulation FD Disclosure, Other Events, Financial Statements and Exhibits

      8-K - Praxis Precision Medicines, Inc. (0001689548) (Filer)

      5/2/25 5:12:19 PM ET
      $PRAX
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • SEC Form 10-Q filed by Praxis Precision Medicines Inc.

      10-Q - Praxis Precision Medicines, Inc. (0001689548) (Filer)

      5/2/25 8:38:06 AM ET
      $PRAX
      Biotechnology: Pharmaceutical Preparations
      Health Care

    $BIIB
    $PRAX
    $STOK
    $WGS
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • Chardan Capital Markets initiated coverage on Praxis Precision Medicines with a new price target

      Chardan Capital Markets initiated coverage of Praxis Precision Medicines with a rating of Buy and set a new price target of $80.00

      5/7/25 8:38:09 AM ET
      $PRAX
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Biogen downgraded by HSBC Securities with a new price target

      HSBC Securities downgraded Biogen from Buy to Hold and set a new price target of $118.00

      4/28/25 8:32:10 AM ET
      $BIIB
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care
    • Biogen downgraded by Argus

      Argus downgraded Biogen from Buy to Hold

      4/4/25 7:48:30 AM ET
      $BIIB
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care

    $BIIB
    $PRAX
    $STOK
    $WGS
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Director Meister Keith A. was granted 434,848 shares (SEC Form 4)

      4 - GeneDx Holdings Corp. (0001818331) (Issuer)

      5/6/25 9:45:05 PM ET
      $WGS
      Retail: Computer Software & Peripheral Equipment
      Technology
    • Director Pfenniger Richard C Jr converted options into 918 shares, increasing direct ownership by 3% to 28,582 units (SEC Form 4)

      4 - GeneDx Holdings Corp. (0001818331) (Issuer)

      5/5/25 4:48:43 PM ET
      $WGS
      Retail: Computer Software & Peripheral Equipment
      Technology
    • Head of Corporate Development Keeney Adam converted options into 938 shares and covered exercise/tax liability with 454 shares, increasing direct ownership by 25% to 2,384 units (SEC Form 4)

      4 - BIOGEN INC. (0000875045) (Issuer)

      5/5/25 4:19:20 PM ET
      $BIIB
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care

    $BIIB
    $PRAX
    $STOK
    $WGS
    Insider Purchases

    Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Director Dorsa Caroline bought $151,559 worth of shares (1,235 units at $122.72), increasing direct ownership by 5% to 27,842 units (SEC Form 4)

      4 - BIOGEN INC. (0000875045) (Issuer)

      5/5/25 4:17:10 PM ET
      $BIIB
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care
    • Casdin Capital, Llc bought $2,757,117 worth of shares (130,000 units at $21.21) (SEC Form 4)

      4 - GeneDx Holdings Corp. (0001818331) (Issuer)

      6/5/24 8:45:06 PM ET
      $WGS
      Retail: Computer Software & Peripheral Equipment
      Technology
    • Casdin Capital, Llc bought $842,604 worth of shares (40,000 units at $21.07) (SEC Form 4)

      4 - GeneDx Holdings Corp. (0001818331) (Issuer)

      5/31/24 5:37:30 PM ET
      $WGS
      Retail: Computer Software & Peripheral Equipment
      Technology

    $BIIB
    $PRAX
    $STOK
    $WGS
    Leadership Updates

    Live Leadership Updates

    See more
    • Cardurion Pharmaceuticals Appoints Karen Lewis as Chief People Officer

      Cardurion Pharmaceuticals, Inc. ("Cardurion"), a clinical-stage biotechnology company discovering and developing new therapeutic approaches for the treatment of cardiovascular diseases, today announced that Karen Lewis has joined the company as Chief People Officer. She joins Cardurion with more than 25 years of experience in human resources helping to build organizations and develop programs that support companies at various stages of growth. She most recently was Chief People Officer at Apellis Pharmaceuticals (NASDAQ:APLS) during a period of rapid growth, and previously held leadership roles in human resources at Biogen (NASDAQ:BIIB) and Bristol-Myers Squibb (NYSE:BMY). "We're delighted

      3/20/25 8:00:00 AM ET
      $APLS
      $BIIB
      $BMY
      Biotechnology: Pharmaceutical Preparations
      Health Care
      Biotechnology: Biological Products (No Diagnostic Substances)
    • Cardurion Pharmaceuticals Appoints Charlotte Newman as Chief Business Officer

      Cardurion Pharmaceuticals, Inc. ("Cardurion"), a clinical-stage biotechnology company discovering and developing new therapeutic approaches for the treatment of cardiovascular diseases, today announced that Charlotte (Charlie) Newman has joined the company as Chief Business Officer. A biopharmaceutical industry executive with over 25 years of industry experience, Ms. Newman most recently led corporate, portfolio and program strategy and business development as Chief Business Officer of Agios Pharmaceuticals (NASDAQ:AGIO), and previously held strategic product and portfolio roles at Biogen (NASDAQ:BIIB). In her role at Cardurion, she will be responsible for leading corporate development, bus

      1/8/25 8:00:00 AM ET
      $AGIO
      $BIIB
      Biotechnology: Pharmaceutical Preparations
      Health Care
      Biotechnology: Biological Products (No Diagnostic Substances)
    • GeneDx Strengthens Executive Leadership Team with Bryan Dechairo Named Chief Operating Officer

      Experienced Diagnostics Executive with a Proven Record of Driving Business Growth to Lead Product & Technology, Operations, Medical Affairs, Innovation and More New Executive Leadership Positions Company for Growth and Scale GeneDx (NASDAQ:WGS), a leader in delivering improved health outcomes through genomic insights, today announced the appointment of Bryan Dechairo as Chief Operating Officer, effective immediately. In the newly created role, Bryan will report to Katherine Stueland, CEO and President, and will serve on the company's executive leadership team. As Chief Operating Officer, Bryan will oversee Product & Technology, Operations, Medical Affairs, Innovation, and the Program

      1/2/25 4:01:00 PM ET
      $WGS
      Retail: Computer Software & Peripheral Equipment
      Technology

    $BIIB
    $PRAX
    $STOK
    $WGS
    FDA approvals

    Live FDA approvals issued by the Food and Drug Administration and FDA breaking news

    See more
    • FDA Approval for VUMERITY issued to BIOGEN INC

      Submission status for BIOGEN INC's drug VUMERITY (ORIG-1) with active ingredient DIROXIMEL FUMARATE has changed to 'Approval' on 09/12/2024. Application Category: NDA, Application Number: 761347, Application Classification: Type 3 - New Dosage Form

      9/16/24 6:52:10 AM ET
      $BIIB
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care
    • FDA Approval for VUMERITY issued to BIOGEN INC

      Submission status for BIOGEN INC's drug VUMERITY (SUPPL-17) with active ingredient DIROXIMEL FUMARATE has changed to 'Approval' on 09/11/2024. Application Category: NDA, Application Number: 211855, Application Classification: Manufacturing (CMC)

      9/16/24 6:24:32 AM ET
      $BIIB
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care
    • FDA Approval for VUMERITY issued to BIOGEN INC

      Submission status for BIOGEN INC's drug VUMERITY (SUPPL-15) with active ingredient DIROXIMEL FUMARATE has changed to 'Approval' on 03/22/2024. Application Category: NDA, Application Number: 211855, Application Classification: Labeling

      3/25/24 4:41:37 AM ET
      $BIIB
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care

    $BIIB
    $PRAX
    $STOK
    $WGS
    Financials

    Live finance-specific insights

    See more
    • GeneDx Reports First Quarter 2025 Financial Results and Business Highlights

      Reported first quarter 2025 revenues of $87.1 million with 62% year-over-year growth of exome and genome test revenue Generated first quarter 2025 adjusted net income1 of $7.7 million Announced plans to acquire Fabric Genomics Raised guidance to deliver between $360 and $375 million in revenue and reaffirmed outlook to deliver exome/genome volume and revenue growth of at least 30% in FY 2025 GeneDx to host conference call today at 8:30 a.m. ET GeneDx Holdings Corp. (NASDAQ:WGS), a leader in delivering improved health outcomes through genomic insights, today reported its financial results for the first quarter of 2025. "Healthcare is at an inflection point where integrating genomic ins

      4/30/25 6:30:00 AM ET
      $WGS
      Retail: Computer Software & Peripheral Equipment
      Technology
    • GeneDx to Report First Quarter 2025 Financial Results on Wednesday, April 30, 2025

      GeneDx (NASDAQ:WGS), a leader in delivering improved health outcomes through genomic insights, today announced it will release financial results for the first quarter of 2025 before the market opens on Wednesday, April 30, 2025. Management will host a conference call that day to discuss first quarter 2025 financial and operating results at 8:30 a.m. Eastern Time. Conference Call Details Investors interested in listening to the conference call are required to register online. A live and archived webcast of the event will be available on the "Events" section of the GeneDx investor relations website at https://ir.genedx.com/. About GeneDx At GeneDx (NASDAQ:WGS), we believe that everyone de

      4/8/25 8:05:00 AM ET
      $WGS
      Retail: Computer Software & Peripheral Equipment
      Technology
    • Organon Acquires TOFIDENCE™ (tocilizumab-bavi), a Commercialized Biosimilar to ACTEMRA® (tocilizumab) Injection, for Intravenous Infusion in the U.S.

      Strengthens and expands U.S. biosimilars immunology portfolio with multi-indication arthritis treatment Organon (NYSE:OGN), a global healthcare company with a deep expertise in biosimilars, today announced that it has acquired from Biogen Inc. (NASDAQ:BIIB) regulatory and commercial rights in the U.S. for TOFIDENCE™, a biosimilar to ACTEMRA®, for intravenous infusion. TOFIDENCE, the first approved tocilizumab biosimilar entrant in the U.S. market, was launched in May 2024 and is indicated in certain patients for the treatment of moderately to severely active rheumatoid arthritis, giant cell arteritis, polyarticular juvenile idiopathic arthritis, systemic juvenile idiopathic arthritis, and

      4/1/25 7:30:00 AM ET
      $BIIB
      $OGN
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care
      Biotechnology: Pharmaceutical Preparations