Castle Biosciences Stock Price, News & Analysis

Castle Biosciences, Inc. (Nasdaq: CSTL) has initiated a pipeline initiative to develop a genomic test predicting therapy responses for moderate to severe psoriasis and atopic dermatitis. This initiative expands their focus beyond cancer diagnostics. The company aims to launch the test by the end of 2025, potentially adding $1.9 billion to their U.S. total addressable market. A multi-center study involving 4,800 patients will support the test's development. This innovative approach could enhance patient care by optimizing early treatment decisions and reducing healthcare costs.

Castle Biosciences (CSTL) has partnered with the Colorado Melanoma Foundation to sponsor the Sun Bus, a mobile initiative providing free skin cancer screenings and public education. Starting in May 2021, the Sun Bus will travel through Texas, Colorado, Arizona, and New Mexico. This initiative, highlighted by Dr. Neil Box, aims to raise awareness post-pandemic about the importance of regular health screenings. Castle’s CEO, Derek Maetzold, emphasized their commitment to improving patient outcomes through early detection and personalized care using their genomic diagnostic tests.

Castle Biosciences (Nasdaq: CSTL) announces national sponsorship of the American Academy of Dermatology's "Skin Cancer, Take a Hike!™" program during Skin Cancer Awareness Month. Since 2014, this event raised $1.5 million to promote skin cancer prevention and early detection. The initiative aims to combat skin cancer, which affects approximately 9,500 individuals daily. Castle emphasizes the importance of awareness, prevention, and early detection in improving health outcomes, aligning with AAD's goals of public education and free screenings.

Castle Biosciences (Nasdaq: CSTL) has announced the acquisition of Myriad myPath Laboratory for $32.5 million, aimed at enhancing its skin cancer genomic testing capabilities. This acquisition will allow Castle to integrate the myPath Melanoma 23-gene expression profile test into its offerings, complementing its existing DecisionDx DiffDx-Melanoma test. The transaction, expected to close in approximately four weeks, is anticipated to provide a comprehensive molecular testing solution for difficult-to-diagnose melanocytic lesions, ultimately improving patient diagnosis and treatment pathways.

Castle Biosciences (Nasdaq: CSTL) will release its Q1 2021 financial results and provide a pipeline update on May 10, 2021, after market close. A conference call and webcast will follow at 4:30 p.m. ET to discuss the results. The company offers personalized genomic tests for skin cancer, including melanoma and squamous cell carcinoma. Stakeholders can access the live event online or by phone. Castle Biosciences is focused on improving cancer treatment decisions through genomic insights.

Castle Biosciences, a skin cancer diagnostics company, will present two significant studies at the American Academy of Dermatology’s Virtual Meeting from April 23-25, 2021. These studies focus on their genomic tests: DecisionDx-Melanoma and DecisionDx-SCC. The DecisionDx-Melanoma study highlights a Class 2B result as a critical predictor of recurrence in stage I melanoma patients, with a recurrence rate of 20.4%. The DecisionDx-SCC study indicates that incorporating this genomic risk profiling can significantly reduce patient sample sizes needed for clinical trials, optimizing healthcare costs and patient management.

Castle Biosciences (Nasdaq: CSTL) showcased its gene expression profile tests at the Dermatology Nurses' Association 2021 Annual Convention. The presentations included the DecisionDx®-Melanoma, which predicts cutaneous melanoma risk, and DecisionDx®-SCC for high-risk squamous cell carcinoma. Data showed DecisionDx-Melanoma's robust predictive ability for recurrence-free survival, outperforming traditional metrics. The DecisionDx DiffDx®-Melanoma enhances diagnostic precision for challenging lesions. The tests aim to improve treatment decisions and patient outcomes by using tumor biology insights.