Exagen Inc. · NASDAQ:XGN
Exagen — Investor Presentation (January 2023)
18 slides from Exagen's investor presentation, Jan 9, 2023
Slide 1: Corporate Presentation
Slide 2: Disclaimer
A . Exagern’ Disclaimer esciciei" This presentation and all oral statements made by Its officers, directors or employees in connection with this presentation contains forward-looking statements. All statements other than statements of historical facts contained in this presentation, including statem
Slide 3: Key Highlights
Key Highlights Through the Differential Diagnosis, Prognosis, Monitoring, and Therapeutic Selection of Autoimmune Diseases, We Address the Unmet Needs that Patients Face ( x Large and underserved autoimmune disease market Proprietary platform with assays covered by Medicare, achieved value-based pri
Slide 4: Rheumatologists Face Significant Barriers and Diagnostic Disparities
Rheumatologists Face Significant Barriers and Diagnostic Disparities 4,nomening gun” Overlapping . igh rate of manifestations ~~" misdiagnosis Antiquated 24m m Americans suffer from an technology autoimmune disease!" and serial testing delays 1 0 0 autoimmune illnesses identified over the last few d
Slide 5: Systemic Lupus Erythematosus (SLE) is One of the Deadliest Autoimmune Diseases
Systemic Lupus Erythematosus (SLE) is One Exagen’ of the Deadliest Autoimmune Diseases 63% of patients misdiagnosed |! SLE takes years to diagnose M7 Yo» 00n-rreumatologss rica UNVEIL Survey 2014. ‘Mod. 2008:364:3098-2601 (Table 2.
Slide 6: AVISE CTD is a more accurate frontline diagnostic
Exager’ 86% specificity, which is a 33% increase over antinuclear antibody (ANA) 80% sensitivity, which is a 48% increase over anti-dsDNA AVISE* CTD is a more accurate frontline diagnostic A CDs ving marr Dea rd corpuner Chin feta O11 504 Seeaamce vine mes Soa Pcmmeisiit aedbie Amniotic bh ste ctr k
Slide 7: The Rheumatologist's Trusted Testing Company
The Rheumatologist’s Trusted Testing Company =o \@ \) avis am \ = » Eeeirretnlonits ~750,000 ee aen Li AVISE® CTD Tests Completed peger’
Slide 8: Strong Adopter Base Powers HCP Growth
Strong Adopter Base Powers HCP Growth i] ‘Bxagen’ Number of HCPs for AVISE® CTD to un | Strong ea | Growth any 28 4108 ‘1a5tr10 4905 1° 101 tons 159 701 772 025 5623 97 gone “ wa 419 404 «20 ‘yop 209 408 antl ll @2 G3 4 QI G2 G3 G4 AI 2 23 24 AI 22 GS A4 G1 G2 G3 O4 A1 G2 Q3 G4 At G2 AS A4 AI Q2 3 a
Slide 9: The Capstone Study
The Capstone Study OY Retrospective analysis of integrated EHR Records =}=/* Acohort of ~22k AVISE Lupus tested patients were $88 compared to ~23k traditional ANA (tANA) tested patients to establish clinical utility for diagnosis and treatment of Lupus AVISE + vs. standard of care + patients 6 AVISE
Slide 10: Strategic Update
Strategic Update
Slide 11: Improving Exagen's Path to Profitability
Improving Exagen’s Path to Profitability Improvement of Per Tests Costs + Eliminate non-profitable, non-core test offerings + Laboratory resources focused on AVISE CTD optimization + Reduction of overhead and other fixed costs Operating Expenses Streamlined to Support Clinical Offering + Company re-
Slide 12: Growing AVISE CTD Revenue
Exager’ Growing AVISE CTD Revenue Building Upon Strong AVISE CTD Adoption ~135k tests in 2022 + Specialty laboratory focused on rheumatology + Establish industry leading quality, service and technology + Strong support with community rheumatologists and large opportunity with academic institutions +
Slide 13: Product Development Criteria Process
Product Development Criteria Process Research & Development Commercialization Impactful Results iv} Medicare Coverage ¥ Top customer need in rheumatology Geass iv] Proprietary Value-Based Pricing (v) Competitive Advantage v Proprietary technology @ Published Clinical Utility Reimbursement Pathway v
Slide 14: R&D Pipeline
R&D Pipeline Research & Development criteria: Competitive Reimbursement Impactful Results DNAESp Pathway Meets criteria: AVISE® RADR (focused) Drug response prediction for tst-line biologic treatment for RA, AVISE® Lupus Nephritis ‘Al developed diagnostic score for identifying major kidney involveme
Slide 15: Cash Flow Breakeven
Cash Flow Breakeven Exagen estimates it can achieve profitability with annual revenue of $75M and GM of 60% $110 $100 $90 Millions. 40% 45% 50% 55% 60% 65% 70% 75% Gross Margin % —Revenue —Fixed Costs —Total Costs Exager’
Slide 16: Q4'22 Units and Q1'23 Guidance
ee ee Q4’22 ~33,800 CTD Units oT SANUARY 7 FEBRUARY =~ Q1’23 Guidance Revenue $8.2M - $9.2M
Slide 17: Key Strategic Messages
Key Strategic Messages x Focus on flagship product AVISE CTD — Grow revenue and reduce costs y y (~~ Establish clear criteria for R&D projects and milestones for commercialization Discontinue clinical offerings and research projects which lack defined value propositions
Slide 18: Thank You
Thank You