CT-Based Sema4 Announces Name Change

STAMFORD, CT — Sema4, the Stamford-based genomic-testing biotech company, announced on Monday that it has changed its name to GeneDx, the genomic testing and analysis firm it acquired last year.

"For more than 20 years, GeneDx has earned the constant trust of the world’s genetics experts, while pioneering and increasing the use of its clinically actionable exome and genome analysis," said Katherine Stueland, President and CEO of GeneDx, in a news release.

"By combining the best of GeneDx and Sema4 to continue our growth, we sit at the intersection of diagnostics and data science, pairing decades of genomic interpretation expertise with an unmatched ability to analyze clinical data at scale," Stueland added. "GeneDx now has the capability to combine the power of genomic insights with clinical data to improve health care for people and populations."

In conjunction with the name change, GeneDx’s shares of Class A common stock will trade under the new ticker symbol "WGS," in recognition of the company’s role in pioneering whole genome sequencing (WGS), the company said.

Hearst Connecticut Media Group reported that according to a Sema4 spokesperson, headquarters will remain in Stamford at 333 Ludlow St.

The latest announcement comes almost two months after the company said it would cut 500 jobs, close its Stamford laboratory, and end reproductive health testing.

That was on top of an August 2022 announcement that the company was eliminating roughly 250 positions and moving its hereditary cancer testing operations from Stamford to Gaithersburg, Md., where GeneDx was based.

Sema4 founder and former CEO Eric Schadt left the company last August and resigned from his role as president and chief research & development officer. Also that month, the company said it planned to leave the somatic tumor testing business, and close its clinical laboratory in Branford, CT.

On Monday, GeneDx released its preliminary 2022 financial results.

Excluding revenues and costs from the reproductive health and somatic tumor testing businesses, management said they expect GeneDx to generate pro forma revenues between $170-$173 million in 2022, an approximate 37-40 percent increase from pro forma $123.7 million in 2021.

In 2023, continued operations of GeneDx, excluding revenues and costs from exited business activities, are expected to generate revenues between $205-$220 million for the full year, the company said, noting it expects to turn profitable in 2025.

Read more on Monday's name change announcement and the company's financial results.

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