Business
Castle Biosciences Announces Preliminary Fourth Quarter and Full-Year 2021 Results
2021 Estimated revenue is expected to meet or exceed top end of guided range of $89-93 million Delivered 28,118 gene expression profile test reports in 2021,
About this update from Castle Biosciences, Inc.
[{"type":"text","content":"\n2021 Estimated revenue is expected to meet or exceed top end of guided range of $89-93 million\n\nDelivered 28,118 gene expression profile test reports in 2021, an increase of 55% compared to 2020\n\nYear-end 2021 cash and cash equivalents expected to be approximately $330 million\n\n FRIENDSWOOD, Texas--(BUSINESS WIRE)--\nCastle Biosciences, Inc. (Nasdaq: CSTL), a leader in transforming disease management and improving patient outcomes through innovative diagnostics, today announced certain unaudited preliminary performance results for the fourth quarter and full-year 2021.\n\n“At Castle, we are committed to providing innovative, clinically actionable tests to improve patient outcomes in diseases with high unmet need,” said Derek Maetzold, president and chief executive officer of Castle Biosciences. “We accelerated investments in our growth initiatives throughout 2021 and saw the positive impact of these decisions. Despite diagnoses of cutaneous melanoma being down by approximately 11% in 2021 compared to 2019 pre-COVID levels, we delivered 25% more DecisionDx®-Melanoma reports in 2021 than 2020.\n\n“We believe the foundation of our success rests on evidence development, which supports clinician adoption and reimbursement of our commercial tests, as well as advancement of our pipeline. In 2021, we made excellent progress with our research and development plans, including the publication of 15 peer-reviewed articles. Since Castle began operations, we have analyzed data from more than 15,000 patients across our skin cancer studies and anticipate analyzing and presenting results from an additional 20,000 patients in 2022 in cutaneous melanoma alone.”\n\nPreliminary, Unaudited Fourth Quarter Ended December 31, 2021, Highlights\n\n\nDelivered 8,242 total gene expression profile test reports in the fourth quarter of 2021, compared to 5,157 in the same period of 2020:\n\n\nDecisionDx-Melanoma test reports delivered in the quarter were 5,635, compared to 4,246 in the fourth quarter of 2020, an increase of 33%. While third-party data for December is still finalizing, data through November suggests that diagnoses of melanoma were down 9% in the fourth quarter of 2021 compared to historical pre-COVID fourth quarter 2019 levels.\n\n\nDecisionDx®-SCC test reports delivered in the quarter were 1,265, compared to 428 in the fourth quarter o...