Business
Castle Biosciences Announces Second Quarter 2021 Results
Q2 2021 revenues of $22.8 million, compared to $12.7 million in Q2 2020 Q2 2021 total dermatology test report volume of 6,539 DecisionDx-Melanoma test
About this update from Castle Biosciences, Inc.
[{"type":"text","content":"\nQ2 2021 revenues of $22.8 million, compared to $12.7 million in Q2 2020\n\nQ2 2021 total dermatology test report volume of 6,539\n\nDecisionDx-Melanoma test reports increased 70%, compared to Q2 2020\n\nRaising 2021 Revenue Guidance to $89-93 million from $80-83 million\n\nConference call and webcast today at 4:30 p.m. ET\n\n FRIENDSWOOD, Texas--(BUSINESS WIRE)--\nCastle Biosciences, Inc. (Nasdaq: CSTL), a dermatologic diagnostics company providing personalized genomic information to improve treatment decisions, today announced its financial results for the second quarter and six months ended June 30, 2021.\n\n“The Castle team delivered an exceptional quarter, which included record test report volume across each of our gene expression profile tests for a single quarter,” said Derek Maetzold, president and chief executive officer of Castle Biosciences. “We saw continued recovery trends throughout the second quarter, despite cutaneous melanoma diagnoses remaining below historical 2019 levels by approximately 12%. Our year-over-year growth in DecisionDx®-Melanoma test reports of 70% reflects both gains in diagnoses compared to 2020, as well as significant gains in market penetration. Due to our strong performance and expected continued momentum, we are raising our 2021 revenue guidance for the full year to $89-93 million.\n\n\"We continue to aggressively invest in our growth initiatives, including the expansion of our commercial team and accelerated R&D investments for our marketed and pipeline tests. Beginning on July 1, 2021, our dermatology-facing commercial team approximately doubled in size to the mid-60s, and each of our sales representatives will support all four of our skin cancer genomic tests. We believe our investments will continue to support our long-term value creation plans and the improvement of patient care.\n\n“Finally, the acquisition of the myPath® Melanoma laboratory, and the resulting addition of the myPath Melanoma test to our skin cancer test services, was finalized in late May of 2021. We believe this acquisition furthers our position as the leader in dermatologic diagnostics and enables us to provide the most comprehensive offering for patients with skin cancer and difficult-to-diagnose melanocytic lesions.”\n\nSecond Quarter Ended June 30, 2021, Selected Results\n\n\nRevenues were $22.8 million, an 79% ...