Business
Castle Biosciences Announces Preliminary Fourth Quarter and Full-Year 2019 Performance Results, Delivering 29% DecisionDx-Melanoma Test Report Volume Growth in 2019
Q4 2019 DecisionDx-Melanoma test report volume increased 37% compared to Q4 2018 Full-year 2019 DecisionDx-Melanoma test report volume increased 29% compared
About this update from Castle Biosciences, Inc.
[{"type":"text","content":"\nQ4 2019 DecisionDx-Melanoma test report volume increased 37% compared to Q4 2018\n\n\nFull-year 2019 DecisionDx-Melanoma test report volume increased 29% compared to full-year 2018\n\n\nNew Ordering Clinicians for DecisionDx-Melanoma increased 24% in 2019 compared to 2018\n\n\nYear-end 2019 cash and cash equivalents balance of approximately $99 million\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 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.\n\n\n“We are pleased with our solid execution in 2019, particularly the acceleration in DecisionDx®-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.\n\n\n“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 comme...