GeneDx Holdings Corp

GeneDx Holdings Corp. is a patient centered health intelligence company. It engages in transforming healthcare by applying AI and machine learning to multidimensional, longitudinal clinical and genomic data to build dynamic models of human health and defining optimal, individualized health trajectories. The firm, through its Centrellis health intelligence platform, generates a more complete understanding of disease and wellness and provides science-driven solutions to the most pressing medical needs. The company was founded by Eric Schadt in October 2015 and is headquartered in Stamford, CT.

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GeneDx reports robust growth, eyes profitability by 2025

GeneDx's strong financial performance in 2022 and growth projections for 2023 indicate a promising trajectory for the company.
Strategic shifts towards whole genome sequencing, fundraising success, and favorable market coverage position GeneDx well for future success.
While facing challenges in business transitions and financial management, GeneDx has opportunities to drive profitability through margin expansion and strategic partnerships.

GeneDx reports robust Q1 earnings, eyes profitability by 2025

GeneDx's Q1 2023 performance reflects strong revenue growth and strategic positioning for future profitability by 2025.
The company's focus on rare disease testing, pediatric settings, and genome testing, coupled with financial improvements, highlights its resilience.
Challenges include managing cash burn, navigating competition, and balancing cost reduction with growth investments.
Opportunities for GeneDx include expanding market share, strategic partnerships, innovation in testing, and comprehensive patient care.

GeneDx reports record revenue and market dominance in genomics

GeneDx's strong performance in Q2 2023 reflects robust revenue growth and market dominance in exome and genome testing. The company's strategic focus on cost optimization, revenue enhancement, and market expansion positions it well for future profitability and growth.

GeneDx reports robust Q3 results, targets profitability by 2025

GeneDx Holdings Corp shows strong performance in Q3 2023 with revenue of $53 million and improved gross margins, supported by a cost reduction plan and debt facility.
While facing challenges in claim denials and lengthy appeal processes, the company aims to drive revenue growth from exome and genome testing to achieve profitability by 2025.
Opportunities lie in capital allocation for growth initiatives and sustainable profitability through cost reduction efforts and strategic investments in R&D.

GeneDx reports strong Q4 results, targets profitability by 2025

GeneDx demonstrated robust financial performance in Q4 2023, with revenue growth, improved margins, and reduced cash burn, setting a positive trajectory for future profitability.
Strategic initiatives like realigned sales strategy and focus on exome and genome tests position GeneDx for sustained growth and increased profitability in the coming years.
While challenges exist in managing cash burn and achieving profitability targets, GeneDx's strong financial position, strategic partnerships, and market focus offer opportunities for continued success.

GeneDx's strong financial performance, strategic strengths, and growth opportunities position it well for future success and profitability.
While facing challenges such as high denial rates and the path to profitability, the company's proactive approach and market focus offer avenues for improvement.
By leveraging its competitive advantages, addressing challenges, and capitalizing on growth opportunities, GeneDx aims to sustain its growth trajectory and achieve profitability by 2025.

GeneDx reports robust Q2 earnings, eyes profitability amid market expansion

GeneDx Holdings Corp's Q2 2024 performance reflects strong revenue growth, margin expansion, and progress towards profitability.
The company's strengths lie in its focus on pediatric genetics, successful product mix transition, and strategic investments in genome sequencing.
Challenges include policy expansion hurdles, maintaining financial discipline, and achieving profitability amidst industry dynamics.
Opportunities for GeneDx include market expansion through partnerships, patient access programs, and operational efficiency enhancements.

GeneDx reports robust Q3 earnings, eyes growth in genetic testing

GeneDx Holdings Corp delivered a strong Q3 performance, achieving profitability and raising revenue guidance for the year.
The company's strategic strengths lie in its market leadership, advanced sequencing capabilities, and diversified revenue streams.
While facing challenges in balancing growth and innovation, GeneDx has opportunities to expand into new markets and drive long-term success.
By optimizing costs, focusing on efficiency, and investing strategically, GeneDx aims to maintain profitability and drive innovation in genetic testing.

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STAMFORD, Conn., May 03, 2023 (GLOBE NEWSWIRE) -- GeneDx (Nasdaq: WGS), a leader in delivering improved health outcomes through genomic and clinical insights, today announced a clarification regarding the CUSIP number for the Company's public warrants. As previously disclosed on April 28, 2023, the Company will effect a 1-for-33 reverse split of Class A common stock, which will open for trading on the Nasdaq Global Select Market on Thursday, May 4, 2023 on a split-adjusted basis under the current trading symbol “WGS”. The CUSIP number for the Company's public warrants will stay the same as the previous CUSIP number, 81663L 119.

GeneDx Announces Clarification Regarding CUSIP Number for Public Warrant Holders

The genetic-testing specialist is effecting a reverse stock split. Although fully expected, this still wasn't encouraging news for shareholders.

Why GeneDx Holdings Stock Lagged the Market Today

STAMFORD, Conn., April 28, 2023 (GLOBE NEWSWIRE) -- GeneDx (Nasdaq: WGS), a leader in delivering improved health outcomes through genomic and clinical insights, today announced that its board of directors has approved a 1-for-33 reverse stock split of the Company's Class A common stock. The Class A common stock will open for trading on the Nasdaq Global Select Market on Thursday, May 4, 2023 on a split-adjusted basis under the current trading symbol “WGS”. In connection with the reverse stock split, the CUSIP numbers for the Company's Class A common stock will change to 81663L 200 and for the Company's public warrants to 81663L 127. The reverse stock split is intended to enable GeneDx to regain compliance with the minimum bid price required for continued listing on the Nasdaq Global Select Market. The reverse stock split was approved by GeneDx's stockholders on April 14, 2023, with the final ratio determined by the Company's board of directors on April 24, 2023.

GeneDx Announces Reverse Stock Split

STAMFORD, Conn., April 18, 2023 (GLOBE NEWSWIRE) -- GeneDx (Nasdaq: WGS), a leader in delivering improved health outcomes through genomic and clinical insights, today announced it will release financial results for the first quarter of 2023 after the market closes on Tuesday, May 9, 2023. On the same day, Katherine Stueland, President and Chief Executive Officer and Kevin Feeley, Chief Financial Officer will host a conference call to discuss financial and operating results at 4:30 p.m. Eastern Time.

GeneDx to Report First Quarter 2023 Financial Results on Tuesday, May 9, 2023

STAMFORD, Conn., April 03, 2023 (GLOBE NEWSWIRE) -- GeneDx (Nasdaq: WGS), a leader in delivering improved health outcomes through genomic and clinical insights, today announced that Devin K. Schaffer has been appointed General Counsel, effective April 24, 2023. As a member of the executive leadership team, Devin will report directly to Katherine Stueland, President and CEO, and will be responsible for all legal, compliance, and regulatory activities for GeneDx.

GeneDx Appoints Devin K. Schaffer, J.D.

GeneDx changed its name from Sema4 in January. The company focuses on genetic testing to better inform healthcare decisions.

Why Shares of GeneDx Dropped Wednesday

STAMFORD, Conn., March 20, 2023 (GLOBE NEWSWIRE) -- GeneDx Holdings Corp (GeneDx) (Nasdaq: WGS), a leader in delivering improved health outcomes through genomic and clinical insights, today announced it is continuing to support whole genome sequencing (WGS) and interpretation services for the GUARDIAN (Genomic Uniform-screening Against Rare Diseases In All Newborns) study, a research study recently launched by Columbia University using WGS to screen 100,000 newborns for more than 250 genetic conditions not currently included in standard newborn screening. Initial data from this study were presented at the ACMG Annual Meeting during the R. Rodney Howell Symposium, Setting the Stage for Genomic Sequencing of All Newborns, on Saturday, March 18, 2023.

GeneDx Announces Progress on GUARDIAN Study and Promise of Early Genomic Testing to End Rare Disease “Diagnostic Odyssey”

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GeneDx Holdings Corp. (NASDAQ:WGS ) Q4 2022 Earnings Conference Call March 14, 2023 4:30 PM ET Company Participants Tricia Truehart - Head IR Katherine Stueland - CEO Kevin Feeley - CFO Conference Call Participants Brandon Couillard - Jefferies Matthew Sykes - Goldman Sachs Vidyun Bais - BTIG Joseph Flanagan - Cowen Operator Thank you for standing by, and welcome to GeneDx' Fourth Quarter 2022 Earnings Conference Call. [Operator Instructions] I would now like to hand the call over to Head of Investor Relations, Tricia Truehart.

GeneDx Holdings Corp. (WGS) Q4 2022 Earnings Call Transcript

New research released at ACMG Annual Clinical Genetics Meeting reiterates the superiority of exome sequencing's role in shortening the diagnostic odyssey New research released at ACMG Annual Clinical Genetics Meeting reiterates the superiority of exome sequencing's role in shortening the diagnostic odyssey

GeneDx Presents New Data at ACMG Demonstrating the Benefits of Exome Sequencing Over Chromosomal Microarray

Financial results are in line with previously announced preliminary 2022 results; Reiterating 2023 guidance, including total revenue of $205-220 million

GeneDx Reports Fourth Quarter and Full Year 2022 Financial Results and Business Highlights

STAMFORD, Conn., March 01, 2023 (GLOBE NEWSWIRE) -- GeneDx (Nasdaq: WGS), a leader in delivering improved health outcomes through genomic and clinical insights, today announced that company management will participate at the Cowen 43rd Annual Healthcare Conference in Boston, MA. Katherine Stueland, President and Chief Executive Officer, will participate in a fireside chat on Tuesday, March 7, 2023, at 2:50 p.m. ET.

GeneDx to Participate in the Cowen 43rd Annual Healthcare Conference

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Research illustrates company's progress in working to end the diagnostic odyssey and includes data with implications for how care is delivered to patients beginning at birth Research illustrates company's progress in working to end the diagnostic odyssey and includes data with implications for how care is delivered to patients beginning at birth

GeneDx honors Rare Disease Day and announces presentations and research at the 2023 American College of Medical Genetics and Genomics Annual Clinical Genetics Meeting

STAMFORD, Conn., Feb. 21, 2023 (GLOBE NEWSWIRE) -- GeneDx (Nasdaq: WGS), a leader in delivering improved health outcomes through genomic and clinical insights, today announced it will release financial results for the fourth quarter and full year of 2022 after the market closes on Tuesday, March 14, 2023. On the same day, Katherine Stueland, Chief Executive Officer of GeneDx, and Kevin Feeley, Chief Financial Officer of GeneDx, will host a conference call to discuss financial and operating results at 4:30 p.m. Eastern Time.

GeneDx to Report Fourth Quarter and Full Year 2022 Financial Results on Tuesday, March 14th, 2023

Research published in Nature Genetics underscores the role of genetic insights in the drug discovery and development process Research published in Nature Genetics underscores the role of genetic insights in the drug discovery and development process

GeneDx Rare Disease Data Demonstrates Utility in Drug Candidate Identification for Common Diseases

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STAMFORD, Conn., Jan. 31, 2023 (GLOBE NEWSWIRE) -- GeneDx Holdings Corp. (Nasdaq: WGS) today announced the closing of its previously announced underwritten public offering of shares of its Class A common stock (the “Underwritten Offering”) and concurrent registered direct offering of shares of its Class A common stock (the “Direct Offering” and, together with the Underwritten Offering, the “Offerings”). The total gross proceeds are expected to be approximately $150 million, including proceeds from the issuance of the additional shares in the Direct Offering described below.

GeneDx Announces Closing of Underwritten Public Offering and Concurrent Registered Direct Offering

Company submitted nearly one quarter of all candidate gene submissions to GeneMatcher in 2022 and collaborated on 63 publications involving new disease-gene associations or expansion of phenotype discoveries

GeneDx Makes Significant Industry-Wide Contributions to New Disease Gene Discovery

GeneDx (NASDAQ: WGS ) stock is taking a beating on Friday after the company revealed a proposed public stock offering. According to a press release, GeneDx intends to raise $150 million from the offering.

Why Is GeneDx (WGS) Stock Down 8% Today?

STAMFORD, Conn., Jan. 27, 2023 (GLOBE NEWSWIRE) -- GeneDx Holdings Corp. (Nasdaq: WGS) today announced the pricing of offerings for an aggregate of 428,571,429 shares of its Class A common stock at a public offering price of $0.35 per share (the “Offerings”). The Offerings consist of an underwritten public offering (the “Underwritten Offering”) of 328,571,429 shares and a registered direct offering (the “Direct Offering”) of 100,000,000 shares to institutional investors affiliated with a member of GeneDx's board of directors (comprising 77,663,376 shares (the “Initial Direct Offering Shares”) that are expected to be issued following the closing of the Underwritten Offering and 22,336,624 shares (the “Additional Direct Offering Shares”) that are subject to stockholder approval to satisfy Nasdaq requirements with respect to the issuance of such shares of Class A common stock). GeneDx has granted the underwriter a 30-day option to purchase up to an additional 49,285,714 shares of Class A common stock in connection with the Underwritten Offering. The gross proceeds to GeneDx from the Offerings, before deducting underwriting discounts and commissions and other offering fees and expenses payable by GeneDx, are expected to be $150 million.

GeneDx Holdings Announces Pricing Of A $150 Million Underwritten Public Offering Of Class A Common Stock And Concurrent Registered Direct Offering

STAMFORD, Conn., Jan. 26, 2023 (GLOBE NEWSWIRE) -- GeneDx Holdings Corp. (Nasdaq: WGS), a leader in delivering improved health outcomes through genomic and clinical insights, today announced that it intends to commence an underwritten public offering of its Class A common stock. In addition, GeneDx intends to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares of its Class A common stock offered in the underwritten public offering at the public offering price per share less underwriting discounts and commissions. Concurrently with the underwritten public offering and by means of a separate prospectus supplement, GeneDx intends to offer shares of its Class A common stock directly to institutional investors affiliated with a member of GeneDx's board of directors. The expected aggregate gross proceeds of the offerings are approximately $150 million. All of the shares will be offered and sold by GeneDx. The offerings are subject to market and other conditions, and there can be no assurance as to whether or when the offerings may be completed, or as to the actual size or terms of the offerings.

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