Business
Castle Biosciences Announces Fourth Quarter and Full-Year 2019 Results
Q4 2019 recognized revenues of $17.6 million, compared to $11.4 million in Q4 2018 Q4 2019 adjusted revenues of $17.6 million, compared to $6.2 million in Q4
About this update from Castle Biosciences, Inc.
[{"type":"text","content":"\nQ4 2019 recognized revenues of $17.6 million, compared to $11.4 million in Q4 2018\nQ4 2019 adjusted revenues of $17.6 million, compared to $6.2 million in Q4 2018\nFull-year 2019 revenues of $51.9 million, compared to $22.8 million in 2018\nFull-year 2019 gross margin was 86%\n2020 revenue guidance of $61-64 million\nConference call and webcast today at 4:30 p.m. ET\n\n FRIENDSWOOD, Texas--(BUSINESS WIRE)--\nCastle Biosciences, Inc. (Nasdaq: CSTL), a skin cancer diagnostics company providing personalized genomic information to improve cancer treatment decisions, today announced its financial results for the fourth quarter and twelve months ended December 31, 2019.\n\n\n“The Castle Biosciences’ team delivered very strong results in 2019, with growth in test report volume and revenue, continued evidence development for DecisionDx®-Melanoma and DecisionDx®-UM tests and advancement of our pipeline products,” said Derek Maetzold, president and chief executive officer of Castle Biosciences. “Our team also delivered on two commercial expansions, with all 32 outside sales territories filled as of December 2019, establishing a solid base for execution of our 2020 plan.\n\n\n“We presented data on our late-stage pipeline test, DecisionDx®-SCC, for use in patients diagnosed with high-risk cutaneous squamous cell carcinoma (SCC), as defined by the National Comprehensive Cancer Network (NCCN). The data demonstrated the ability of the test to stratify patients presenting as high-risk into those who are truly high-risk patients and those who are lower-risk patients. DecisionDx-SCC is designed to aid physicians in the development of appropriate, risk-aligned treatment plans. Our DecisionDx-SCC test remains on track for expected commercial launch in the second half of 2020.\n\n\n“Additionally, development of our third skin cancer product, for use in patients with a suspicious pigmented lesion, remains on track for expected commercial launch in the second half of 2020. We estimate that combined, our three skin cancer products, DecisionDx-Melanoma, DecisionDx-SCC and our test for suspicious pigmented lesions, will have a total addressable U.S. market of approximately $2.0 billion.”\n\n\nFourth Quarter Ended December 31, 2019, Financial Highlights\n\n\n\nRevenue was $17.6 million in the fourth quarter of 2019, compared to $11.4 million in the fou...