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CareDx, Inc. (NASDAQ: CDNA) is at the forefront of transforming transplant patient care through its innovative surveillance management solutions. Dedicated to improving the lives of organ transplant patients, CareDx leverages the latest in genomics and bioinformatics technology combined with rigorous clinical evidence derived from trials and registries.
CareDx offers a suite of precision medicine solutions aimed at enhancing both pre- and post-transplant care. One of its flagship products, AlloSure®, is the first and only non-invasive blood test that directly measures allograft injury. This next-generation sequencing (NGS) based test detects donor-derived cell-free DNA (dd-cfDNA), providing clinicians with a powerful tool to identify organ injury and the probability of active rejection, particularly in kidney transplant patients.
The company's portfolio also includes AlloMap Heart, AlloSure Heart, and AlloSure Lung, which are dd-cfDNA solutions designed for heart and lung transplant recipients. These products underscore CareDx’s commitment to offering clinically differentiated, high-value healthcare solutions that span the entire transplant journey.
CareDx generates the majority of its revenue from the United States, with a significant portion coming from its testing services. Its product suite not only addresses the critical needs of transplant patients but also supports healthcare providers in delivering better patient outcomes through genomics-based information.
Recent achievements include the continued expansion of their product line and partnerships with leading healthcare institutions to further validate and implement their innovative diagnostic solutions. These efforts position CareDx as a leader in the field of transplant diagnostics and surveillance.
CareDx, a precision medicine company, announced the closing of its public offering of 1,923,077 shares at $91.00 each, raising approximately $164 million in net proceeds. This offering allows CareDx to strengthen its working capital and support general corporate purposes. Additionally, underwriters have a 30-day option to purchase 288,461 more shares. The company's shares are traded under the symbol CDNA.
CareDx, Inc. (Nasdaq: CDNA) has announced a public offering of 1,923,077 shares at $91.00 each, aiming for gross proceeds of $175 million. The offering, closing around January 25, 2021, includes a 30-day option for underwriters to purchase an additional 288,461 shares. Funds from the offering will be directed towards working capital and corporate purposes. Goldman Sachs & Co. LLC and Jefferies LLC lead the offering as joint book-running managers. The offering is registered under a shelf registration statement filed with the SEC.
CareDx, Inc. (Nasdaq: CDNA) announced plans to offer and sell $175.0 million of its common stock in a public offering, with a potential additional $26.25 million from underwriters' options. The funds will be allocated for working capital and general corporate purposes. Goldman Sachs & Co. LLC and Jefferies LLC are the joint book-running managers for this offering, which is subject to market conditions and regulatory approval. CareDx's common stock is traded under the ticker symbol CDNA.
CareDx, Inc. (CDNA) reported preliminary financial results for Q4 and the full year 2020, highlighting a strong revenue increase. Q4 revenue is estimated between $58.4 million and $58.6 million, a 63% rise from $35.8 million in Q4 2019. Full-year revenue is projected at $191.9 million to $192.1 million, up 51% from $127.1 million in 2019. Cash and equivalents stood at approximately $224.7 million. The company aims to continue expanding in 2021.
CareDx, Inc. (Nasdaq: CDNA) announced its acquisition of TransChart LLC, an electronic health record software provider for US transplant centers. The deal, expected to close in January 2021, will enhance CareDx's digital capabilities and expand its EMR coverage to over 90 centers. Both companies aim to improve transplant patient outcomes through data-driven solutions. The transaction emphasizes CareDx's commitment to delivering high-value healthcare solutions for transplant patients and integrating TransChart's offerings into its existing services.
CareDx presented new clinical data at the 21st Annual American Society of Transplant Surgeons Digital Winter Symposium, focusing on transplant patient care. The company sponsored two symposia featuring prominent clinical leaders discussing their experiences with AlloSure, including the ADMIRAL and MAPLE studies. Notable speakers included Dr. Jason Wellen and Dr. Sander Florman. There were three accepted abstracts highlighting CareDx solutions. CEO Reg Seeto expressed optimism about sharing important new data with the transplant community.
CareDx has announced a strategic partnership with IDbyDNA to develop AlloID, a metagenomic infectious disease testing platform tailored for transplant patients. This innovative solution aims to identify over 100 pathogens and drug resistance, enhancing care for immunocompromised organ transplant recipients. The collaboration combines AlloID with existing CareDx tools like AlloSure and AlloMap, striving for comprehensive, personalized care. The technology promises improved detection through next-generation sequencing, which is vital for managing infections in transplant patients.
CareDx has secured a two-year tender with the French National Blood Service, Établissement Français du Sang, to supply its AlloSeq HCT chimerism monitoring solution for stem cell transplant patients. This contract highlights CareDx's innovation in the field as the first next-generation sequencing (NGS) solution approved by EFS. The selection process was competitive, with AlloSeq HCT being chosen for its superior sensitivity and rapid under 24-hour turnaround time. CareDx aims to enhance transplant patient care across France through this partnership.
CareDx, Inc. (Nasdaq: CDNA) announced a significant study published in Pediatric Transplantation that demonstrates the effectiveness of AlloSure in detecting allograft rejection in pediatric kidney transplant patients. The study, involving 67 patients tested from October 2017 to October 2019, shows that AlloSure offers a non-invasive and highly predictive method for early rejection detection, surpassing traditional indicators. This publication supports CareDx's commitment to improving long-term outcomes for young transplant recipients.
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