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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 (NASDAQ: CDNA) announced its participation as a Distinguished Founder’s Circle Sponsor at the 23rd Annual ASTS State of the Art Winter Symposium from January 12-15, 2023, in Miami, Florida. This marks the fourth consecutive year for CareDx at this event, emphasizing their commitment to innovation in transplant patient care. The company will host a symposium on January 13 to present advancements in molecular surveillance and digital health solutions. CareDx’s products, like AlloMap and AlloSure, are widely used in transplant centers across the U.S.
CareDx, Inc. (NASDAQ: CDNA) reported preliminary financial results for Q4 and full year 2022, highlighting record revenues between $81.9 million and $82.2 million, marking a 4% year-over-year growth. Cash collections reached 110% of revenue, a 10% increase, while patient test results rose by 14%. The company maintained a strong cash position of approximately $292 million with no debt. For FY 2022, revenue is expected to be between $321.3 million and $321.6 million, indicating an 8% growth. CareDx plans to focus on pipeline catalysts and increased collections in 2023.
CareDx, Inc. announces that the International Society for Heart and Lung Transplantation (ISHLT) has updated its guidelines, recommending the earlier use of AlloMap Heart for heart transplant patients starting 2 months post-transplant. The new guidelines endorse donor-derived cell-free DNA (dd-cfDNA) testing for routine monitoring, promoting non-invasive methods to minimize biopsies and hospital visits. These changes reflect the clinical advancements in the last decade and are supported by significant uptake in heart transplant centers nationwide.
CareDx, Inc. (NASDAQ: CDNA) has announced a stock repurchase program authorized by its Board of Directors, allowing for up to $50 million in stock buybacks over 24 months. The program enables discretionary purchases via open market repurchases, private transactions, and trading plans. CEO Reg Seeto expressed confidence in the company's financial position and growth prospects, stating that share buybacks reflect their commitment to long-term shareholder value. The repurchases will utilize existing cash and future cash flow.
CareDx, Inc. (Nasdaq: CDNA) announced the results of a significant study in the Transplantation Direct journal, establishing a reference baseline for using AlloSure® Lung in lung transplant patient surveillance. Conducted at Vanderbilt University Medical Center, the study involved 51 patients and defined a 73% reference change value for AlloSure dd-cfDNA levels two years post-transplant. This data underscores the clinical utility of AlloSure Lung, currently utilized by 60% of lung centers, as a vital tool amid high lung graft failure rates.
CareDx, Inc. (Nasdaq: CDNA) celebrated the five-year anniversary of AlloSure, a non-invasive solution for monitoring organ transplant health. The company emphasized its leadership in transplant research, with over 100 peer-reviewed publications supporting the clinical use of AlloSure and AlloMap. Having invested more than $200 million in research over the past three years, CareDx continues to enhance transplant outcomes, addressing the significant need for accurate biomarkers in organ transplants.
CareDx, Inc. (Nasdaq: CDNA), a leader in precision medicine for transplant patients, will participate in two investor conferences. The first presentation is at the Credit Suisse 31st Annual Healthcare Conference on November 9, 2022, at 1:25 PM ET, accessible via their website. The second is at the Jefferies London Healthcare Conference on November 15, 2022, at 8:30 AM ET. CareDx aims to enhance healthcare solutions for transplant patients and caregivers through innovative testing services and digital solutions.
CareDx, Inc. (CDNA) reported its Q3 2022 financial results, achieving revenue of $79.4 million, a 5% increase year-over-year. The number of patient test results grew by 15%, totaling 46,500. Despite a strong GAAP gross margin of 73%, the net loss widened to $16.9 million, with a loss per share of $0.32. Adjusted EBITDA showed a loss of $2.5 million, contrasting with a gain in Q3 2021. The company has adjusted its 2022 revenue guidance to $320-$325 million due to a shift in payer mix.
CareDx, the Transplant Company, recently announced its participation in the ASN Kidney Week 2022, where it will present data on AlloSure Kidney and digital health solutions. This event, taking place from November 3-6 in Orlando, Florida, is an opportunity for CareDx to showcase its commitment to improving transplant patient care. The company will feature nine abstracts highlighting AlloSure's role in post-transplant surveillance, supported by findings from the groundbreaking ADMIRAL study, which demonstrated AlloSure's predictive capabilities for long-term graft survival.
CareDx, Inc. announced a study published in the Clinical Journal of the American Society of Nephrology demonstrating the efficacy of AlloSure® dd-cfDNA as a biomarker for early detection of allograft rejection and BK virus infection in pediatric kidney transplant patients. This independent study involved 57 patients and showed significant results, including an AUC of 0.82 for acute rejection detection. The findings emphasize AlloSure's potential for improving transplant outcomes through timely interventions, supporting CareDx's position as a leader in transplant innovation.
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