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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 announced findings from the SHORE study, which demonstrates that its HeartCare diagnostic tool outperforms donor-derived cell-free DNA (dd-cfDNA) testing alone in identifying acute cellular rejection (ACR) in heart transplant patients.
The study, involving over 2,700 patients across 67 centers, shows that dual-negative HeartCare results correlate with the lowest ACR incidence at 1.5%, while dual-positive results have the highest at 9.2%.
Cardiologists performed the fewest biopsies following dual-negative results (8.8%), significantly lower than dual-positive results (35.4%). The study highlights reduced biopsy rates and excellent clinical outcomes, with a 95% survival rate and 97% normal allograft function at two years post-transplant.
This significant study, published in The Journal of Heart and Lung Transplantation, underscores the benefits of dual molecular testing for heart transplant patient monitoring.
CareDx, Inc. (Nasdaq: CDNA) reported first quarter 2024 revenue of $72.0 million, with Testing Services revenue growing by 15% compared to the previous quarter. The company expanded payer coverage by 14 million lives, presented scientific advancements at ISHLT, and ended the quarter with approximately $216 million in cash and no debt. However, there was a 7% decrease in revenue compared to the first quarter of 2023, with a net loss of $16.7 million in the first quarter of 2024.
CareDx, Inc. (Nasdaq: CDNA) announced the award of 54,350 restricted stock units (RSUs) to 17 new employees as an inducement for employment. The RSUs were granted under the 2019 Inducement Equity Incentive Plan and vest over different periods based on the number of shares awarded.
CareDx, Inc. (Nasdaq: CDNA) will report financial results for the first quarter of 2024, focusing on healthcare solutions for transplant patients. The conference call will take place on May 9, 2024, providing insights for investors and interested parties.
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