Exagen leaves S&P Global BMI Index: what it means for Exagen stock

Published on 10/05/2026 at 01:50 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter revenue reached USD 19.94 million, up 16.00 percent year over year. Exagen stock had a EUR 7.25 prior close on October 2, 2026.

XGN, US30068X1037, Illustration mit AI erstellt.

Exagen Inc. (ISIN US30068X1037) was dropped from the S&P Global BMI Index on September 20, 2026, according to MarketScreener. The index change gives XGN stock a concrete market-structure event, while the company's latest operating figures show continued expansion in autoimmune diagnostics.

Index removal meets operating progress

The index change came after Exagen reported second-quarter 2026 revenue of USD 19.94 million, up 16.00 percent from the second quarter of 2025. Benzinga reported that the quarter marked a company revenue record and included adjusted EBITDA loss of USD 0.10 million, compared with USD 1.70 million in the second quarter of 2025.

The operating improvement matters because Exagen is pursuing scale before the planned launch of its Myositis offering in early 2027. The company develops AVISE testing products for autoimmune conditions, including systemic lupus erythematosus and rheumatoid arthritis, according to its investor-relations profile.

Guidance points to higher revenue

Exagen raised full-year 2026 revenue guidance to USD 72.00 million-USD 75.00 million from USD 70.00 million-USD 73.00 million, as reported by Benzinga. The midpoint increased from USD 71.50 million to USD 73.50 million, a 2.80 percent rise, making the revised outlook a measurable step above the previous range.

The same report said AVISE CTD test volume reached 39,000 tests in the second quarter of 2026, up 11.00 percent year over year. Trailing 12-month average selling price reached USD 446.00 per test, up 4.00 percent year over year, while gross margin exceeded 61.00 percent.

What the index change means

The index removal and the improved operating profile point in different directions. Index membership can affect passive fund demand, while revenue growth, higher test volume and a smaller adjusted EBITDA loss provide company-specific evidence of progress.

Exagen's next reported milestone is scheduled for November 3, 2026, when the company is listed for a quarterly communication on the cited market calendar. The near-term investor debate therefore centers on whether the second-quarter operating improvement can continue through the seasonal second half.

EUR 7.25 prior close

At Lang & Schwarz, Exagen's prior close was EUR 7.25 on October 2, 2026. The latest structured market data put Exagen's market capitalization at USD 197.4 million and its 52-week range at USD 2.59-USD 12.23, both as of October 2, 2026.