Exagen appoints Dr. Michael Mahler as chief scientific officer

CARLSBAD, Calif. - Autoimmune testing company Exagen Inc. (NASDAQ:XGN), whose stock has surged over 268% in the past year according to InvestingPro data, has appointed Dr. Michael Mahler as its new Chief Scientific Officer, according to a company press release issued Monday.

Dr. Mahler, who holds a Ph.D. from the University of Heidelberg's Institute of Molecular Genetics, brings experience from his previous role as Senior Vice President of Research Development and Business Development at Werfen. His career includes research at the Scripps Research Institute in the laboratory of autoimmune research pioneers Prof. Eng Tan and Michael Pollard.

Throughout his career, Dr. Mahler has contributed to over 300 peer-reviewed publications and developed multiple patents related to autoimmune disease diagnostics.

"His deep understanding of autoimmune research and commitment to scientific innovation will play a pivotal role in strengthening our diagnostic capabilities and advancing patient care," said John Aballi, President and CEO of Exagen, in the statement.

In his new position, Dr. Mahler will lead strategic initiatives focused on enhancing precision diagnostics for autoimmune diseases.

Exagen specializes in autoimmune diagnostics, with its flagship product AVISE CTD designed to help clinicians diagnose complex autoimmune conditions including lupus, rheumatoid arthritis, and Sjögren's disease.

The company's laboratory focuses on rheumatic disease testing, providing diagnostic, prognostic, and monitoring solutions.

Based in San Diego County, California, Exagen is publicly traded on the Nasdaq exchange under the ticker XGN. With a market capitalization of $158 million, the company maintains a healthy financial position with liquid assets exceeding short-term obligations, as indicated by a current ratio of 2.32. InvestingPro analysis reveals 8 additional key insights about Exagen's financial health and market position, available to subscribers. For comprehensive analysis of healthcare stocks like XGN, access InvestingPro's detailed research reports covering over 1,400 US-listed companies.

In other recent news, Exagen Inc. announced its first-quarter 2025 financial results, reporting a revenue of $15.5 million, which exceeded the FactSet consensus of $14.66 million. This represents an 8% year-over-year growth, largely due to the enhanced performance of its AVISE CTD test. The company has provided guidance for the full fiscal year 2025, projecting revenues of at least $65 million, slightly above the FactSet consensus of $64.3 million. In a related development, Exagen set the price for its public stock offering at $5.25 per share for 3,350,000 shares, expecting to raise approximately $17.59 million in gross proceeds.

Cantor Fitzgerald adjusted its price target for Exagen shares to $7.00 from $8.00 but maintained an Overweight rating. Meanwhile, KeyBanc Capital Markets kept its Sector Weight rating on Exagen following the company's financial results. Exagen has also announced a refinancing of its debt, extending the maturity to 2030 and increasing its borrowing capacity. The company aims to achieve positive adjusted EBITDA by the fourth quarter of 2025, according to KeyBanc analysts. These developments reflect Exagen's strategic efforts to strengthen its financial position and expand its market presence.

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