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GeneDx Holdings Corp. (NASDAQ:WGS), a healthcare technology company whose stock has delivered an impressive 230% return over the past year and is currently trading near its 52-week high, announced Wednesday the appointment of Thomas Fuchs, Dr.sc., as a Class I director on its board, effective immediately. The board of directors was expanded from seven to eight members in connection with this appointment. According to InvestingPro data, the company maintains a GOOD financial health rating and has shown strong revenue growth of nearly 49% in the last twelve months.
Dr. Fuchs currently serves as Senior Vice President and Chief AI Officer at Eli Lilly and Company, where he oversees artificial intelligence initiatives in drug discovery, clinical trials, manufacturing, commercial activities, and internal functions. His previous roles include Dean and inaugural Department Chair for AI and Human Health at Mount Sinai, Director of the Hasso Plattner Institute for Digital Health at Mount Sinai, and the Barbara T. Murphy Professor for AI and Computational Pathology at the Icahn School of Medicine at Mount Sinai. Dr. Fuchs has also held positions at Memorial Sloan Kettering Cancer Center, NASA’s Jet Propulsion Laboratory, and the California Institute of Technology, and has founded three companies, including Paige AI. He holds a doctoral degree in machine learning from ETH Zurich and a master’s degree in technical mathematics from Graz Technical University in Austria.
Dr. Fuchs will serve as a Class I director with a term expiring at GeneDx’s 2028 Annual Meeting of Stockholders. He will be compensated under the company’s Non-Employee Director Compensation Policy, including an initial restricted stock unit grant valued at $420,000, which will vest over three years, subject to continued service. The company also intends to enter into a standard indemnity agreement with Dr. Fuchs.
According to the company, Dr. Fuchs is not a party to any arrangement or understanding with any person pursuant to which he was elected as a director, nor is he involved in any transaction requiring disclosure under Item 404(a) of Regulation S-K.
This information is based on a statement in a press release and a filing with the U.S. Securities and Exchange Commission.
In other recent news, GeneDx reported impressive financial results for the second quarter of 2025, significantly surpassing earnings and revenue forecasts. The company posted earnings per share of $0.50, far exceeding the anticipated $0.12, with revenue reaching $102.7 million, a substantial increase over the expected $85.45 million. Following these results, BTIG raised its price target for GeneDx to $125 from $100, maintaining a Buy rating, citing a strong performance in the second quarter that exceeded top-line expectations by more than $17 million. Additionally, Piper Sandler increased its price target to $140 from $120, maintaining an Overweight rating due to GeneDx’s unique data asset and growth prospects. The firm also highlighted the company’s multiyear growth potential after raising its revenue projections. Meanwhile, Thomas Fuchs, Chief AI Officer at Eli Lilly, joined the GeneDx board of directors, bringing his expertise in artificial intelligence to the company. These developments reflect a period of significant activity and growth potential for GeneDx.
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