XGN - Exagen announces underwritten public offering

Exagen (XGN) has announced an underwritten public offering of common shares.The number of shares to be offered and other financial details were not disclosed.Cowen, William Blair and Cantor Fitzgerald are joint book-runners.Underwriters will be granted a 30-day option to buy an additional 15% of the common shares offered.The company plans on using the proceeds for its Multi-omics capabilities, advancement of its product pipeline, including to support development of tests for fibromyalgia, rheumatoid arthritis, thrombosis and lupus nephritis, enhancement of intellectual property protection, and for working capital and other general corporate purposes.Exagen shares closed today down 4.4% to $19.12.

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Exagen announces underwritten public offering