XGN 8-K

Exagen Inc. (XGN)

8-K 2020-03-25 For: 2020-03-25

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Added on April 07, 2026

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☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))



Exhibit No.						Description

99.1						Press Release dated March 25, 2020


	Three Months Ended December 31,						Year Ended December 31,
	2019		2018		2019		2018
	(Unaudited)
Revenue	$	10,214	$	9,641	$	40,387	$	32,440
Operating expenses:
Costs of revenue (excluding amortization of purchased technology)	4,591		4,003		18,808		15,379
Selling, general and administrative expenses	7,915		5,256		28,702		19,675
Research and development expenses	566		533		2,176		2,125
Amortization of intangible assets	—		—		—		141

Total operating expenses	13,072		9,792		49,686		37,320
Loss from operations	(2,858)		(151)		(9,299)		(4,880)
Interest expense	(771)		(770)		(3,491)		(2,868)
Change in fair value of financial instruments	—		(373)		267		(318)
Other income, net	246		35		510		112
Loss before income taxes	(3,383)		(1,259)		(12,013)		(7,954)
Income tax expense	25		58		25		58
Net loss	(3,408)		(1,317)		(12,038)		(8,012)
Accretion of redeemable convertible preferred stock	—		(2,856)		(4,640)		(9,318)
Deemed dividend recorded in connection with financing transactions	—		—		(13,601)		(1,152)
Net loss attributable to common stockholders	$	(3,408)	$	(4,173)	$	(30,279)	$	(18,482)
Net loss per share, basic and diluted	$	(0.27)	$	(66.23)	$	(8.46)	$	(293.34)
Weighted-average number of shares used to compute net loss per share, basic and diluted	12,560,502		63,005		3,578,771		63,005


	December 31, 2019		December 31, 2018
Assets
Current assets:
Cash and cash equivalents	$	72,084	$	13,164
Accounts receivable, net	5,715		5,952
Prepaid expenses and other current assets	3,451		2,196
Total current assets	81,250		21,312
Property and equipment, net	1,380		1,566
Goodwill	5,506		5,506
Other assets	174		503
Total assets	$	88,310	$	28,887
Liabilities, Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit)
Current liabilities:
Accounts payable	$	1,476	$	1,279
Accrued liabilities	4,419		3,923
Proceeds received prior to issuance of Series G redeemable convertible preferred stock	—		3,750
Total current liabilities	5,895		8,952
Borrowings-non-current portion, net of discounts and debt issuance costs	25,854		24,617
Redeemable convertible preferred stock warrant liabilities	—		1,503
Deferred tax liabilities	264		245
Other non-current liabilities	638		304
Total liabilities	32,651		35,621
Commitments and contingencies
Redeemable convertible preferred stock, $0.001 par value; none and 750,300,000 shares authorized at December 31, 2019 and 2018, respectively; none and 532,606,084 shares issued and outstanding at December 31, 2019 and December 31, 2018, respectively; liquidation preference of $0 and $163,316 at December 31, 2019 and December 31, 2018, respectively	—		105,232
Stockholders' equity (deficit):
Preferred stock, $0.001 par value; 10,000,000 shares authorized, no shares issued or outstanding at December 31, 2019; no shares authorized, issued or outstanding at December 31, 2018	—		—
Common stock, $0.001 par value; 200,000,000 and 1,470,000,000 shares authorized at December 31, 2019 and December 31, 2018, respectively; 12,560,990 and 63,005 shares issued and outstanding at December 31, 2019 and December 31, 2018, respectively	13		—
Additional paid-in capital	220,248		40,598
Accumulated deficit	(164,602)		(152,564)
Total stockholders' equity (deficit)	55,659		(111,966)
Total liabilities, redeemable convertible preferred stock and stockholders' equity (deficit)	$	88,310	$	28,887