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CSTL

Castle Biosciences

$33.33 /

+0.43 (+1.31%)

17:01
01/09/20
01/09
17:01
01/09/20
17:01

Castle Biosciences sees Q4 DecisionDx-Melanoma test report deliveries 4,480

Castle Biosciences announced certain unaudited preliminary performance results for the fourth quarter and full-year 2019. The Company will report its full financial results and other metrics during its fourth quarter and year-end 2019 conference call, which is expected to be held in March 2020. Additionally, the Company expects to provide certain preliminary guidance for 2020 when it reports its final results for the fourth quarter and year-end 2019. "We are pleased with our solid execution in 2019, particularly the acceleration in DecisionDx(R)-Melanoma volume seen since our first quarter 2019 commercial expansion," said Derek Maetzold, president and chief executive officer of Castle Biosciences. "We attribute this growth to a combination of ongoing evidence development, which included eight peer-reviewed publications, as well as the early 2019 commercial expansion. As a result of this growth, we executed a second commercial expansion on December 1, 2019. And as of December 31, 2019, we have more than doubled our commercial personnel compared to December 31, 2018. Evidence development continued in 2019, including prospective studies that further support the two intended uses of our DecisionDx-Melanoma test, which we believe contributed to the posting of a draft Medicare Local Coverage Determination (LCD) expansion, as well as the acceptance of our application for a Category I MAAA Current Procedural Terminology (CPT) code by the American Medical Association's CPT Editorial Panel. "We believe the substantial volume growth in our lead product, DecisionDx-Melanoma, is providing more patients diagnosed with early stage cutaneous melanoma the opportunity to have informed discussions with their doctors and potentially improve treatment decisions. Additionally, we remain on track for the commercial launch of our two additional skin cancer products - our DecisionDx(R)-SCC gene expression profile (GEP) test for use in patients diagnosed with high risk cutaneous squamous cell carcinoma, and our skin cancer product for use in patients with a suspicious pigmented lesion - in the second half of 2020. We believe these two late stage pipeline products will increase our estimated total addressable U.S. market by more than $1.4 billion, for an estimated total addressable U.S. market of $2.0 billion for current and pipeline products."

  • 11

    Feb

  • 12

    Feb

CSTL Castle Biosciences
$33.33 /

+0.43 (+1.31%)

12/27/19 Canaccord
Castle Biosciences target raised to $35 after investor meetings at Canaccord
09/04/19 BTIG
Castle Biosciences price target raised to $32 from $25 at BTIG
09/04/19 Baird
Castle Biosciences price target raised to $31 from $27 at Baird
09/04/19 Canaccord
Castle Biosciences price target raised to $34 from $26 at Canaccord

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