Castle Biosciences, Inc. - CSTL STOCK NEWS

Castle Biosciences, Inc. (NASDAQ: CSTL) has released new data on its DecisionDx-SCC test, demonstrating significant improvements in predicting metastatic risk for cutaneous squamous cell carcinoma (cSCC) patients with risk factors. Conducted on a cohort of 534 patients from 45 centers, the study showed that the DecisionDx-SCC test enhances the predictive accuracy of existing staging systems (AJCC8 and BWH). Notably, the incorporation of the DecisionDx-SCC results improved the likelihood ratios for metastatic risk predictions (p<0.0003). This reflects a critical advancement in guiding risk-aligned patient care for high-risk cSCC patients.

Castle Biosciences (Nasdaq: CSTL), a diagnostics company focusing on innovative health solutions, has announced that Derek Maetzold and Frank Stokes will present a company overview at the KeyBanc Capital Markets Virtual Life Sciences & MedTech Investor Forum. The event is scheduled for March 22, 2023, at 2:15 p.m. Eastern time. Interested parties can access a live audio webcast on Castle Biosciences’ website, with a replay available later. Castle is advancing diagnostics for conditions including skin cancers and mental health and is developing tests for various diseases.

Castle Biosciences, Inc. (Nasdaq: CSTL) announced the showcasing of new data on its skin cancer gene expression profile (GEP) tests at the 2023 American Academy of Dermatology Annual Meeting from March 17-21 in New Orleans. The company emphasizes the importance of these tests in guiding clinical decisions and improving patient outcomes. Highlights include a late-breaking oral presentation on the 40-gene expression profile for cutaneous squamous cell carcinoma and three ePosters focusing on their DecisionDx tests for melanoma and SCC. These findings underpin Castle's commitment to advancing patient care through evidence-based innovation.

Castle Biosciences (CSTL) announced a consensus report from the National Society for Cutaneous Medicine recommending the use of its DecisionDx®-Melanoma gene expression profile (GEP) testing in managing cutaneous melanoma. The report includes 10 usage guidelines and consensus statements, underscoring that DecisionDx-Melanoma offers superior utility compared to existing GEP assays. The panel emphasized that GEP testing enhances prognostic assessment, identifies high-risk patient subsets, and informs risk-aligned management decisions. This consensus reinforces the clinical value of DecisionDx-Melanoma, supported by over 40 peer-reviewed studies and extensive evidence.

Castle Biosciences (CSTL) reported financial results for 2022, achieving annual revenues of $137 million, a 46% increase compared to 2021, meeting the highest end of its guidance. The total number of test reports delivered reached 44,419, up 58% from the previous year. For 2023, the company anticipates revenues between $170-180 million, supported by the integration of acquired franchises and new evidence development for its tests. However, the net loss for 2022 was $(67.1) million, with operating cash flow at $(41.7) million. The company holds $258.6 million in cash and equivalents as of December 31, 2022.

Castle Biosciences, Inc. (CSTL) announced that CFO Frank Stokes has been recognized as one of Finance & Investing’s Top 25 CFOs of Houston for 2023. This accolade reflects his contributions to the company, particularly during its IPO in 2019 and the acquisitions of Cernostics and AltheaDx. Stokes has been instrumental in facilitating financial growth and operational advancements since joining Castle in December 2017. The company focuses on innovative diagnostic tests that enhance patient care and has a diverse portfolio addressing skin cancers, Barrett’s esophagus, and mental health conditions.

Castle Biosciences, Inc. (NASDAQ: CSTL) presented significant findings at the 2023 Winter Clinical - Miami™ conference regarding its DecisionDx®-Melanoma test, which showed a potential 37% reduction in unnecessary sentinel lymph node biopsies. The test demonstrated 100% sensitivity in identifying patients at low risk for metastasis. Additionally, insights from clinicians on therapy selection for inflammatory skin diseases highlighted the demand for a molecular test, with over 90% of surveyed clinicians supporting its development. Castle aims to launch a gene expression profile test for inflammatory skin diseases by the end of 2025, meeting a clear clinical need.

Castle Biosciences, Inc. (CSTL) announced findings from the DECIDE study, demonstrating that DecisionDx®-Melanoma test results significantly influenced 85% of clinicians' decisions on sentinel lymph node biopsy (SLNB) procedures. This molecular test, the best-studied for cutaneous melanoma, helps determine whether to perform SLNB, showing a reduction in unnecessary procedures. Notably, patients with high-risk test results had a 22% SLN positivity rate, exceeding historical averages. The study's outcomes are supported by over 40 peer-reviewed studies, highlighting the test's clinical value and potential to decrease complication rates and costs associated with SLNB.

Castle Biosciences (NASDAQ: CSTL) announced it will release its fourth quarter and full-year financial results for 2022 after market close on February 28, 2023. A conference call will be held at 4:30 p.m. ET to discuss the results, available via webcast and phone. The company focuses on innovative diagnostics, with a portfolio that includes tests for various cancers and mental health conditions, along with ongoing research programs for additional diseases. For more details, visit Castle's website.