Welcome to our dedicated page for DermTech news (Ticker: DMTK), a resource for investors and traders seeking the latest updates and insights on DermTech stock.
DermTech, Inc. (symbol: DMTK) is a groundbreaking molecular diagnostic dermatology company dedicated to revolutionizing the diagnosis of skin conditions through innovative non-invasive testing. Located at their CLIA-licensed laboratory in La Jolla, CA, DermTech operates at the cutting edge of dermatological science.
DermTech's core technology focuses on gene expression tests that aid in the clinical diagnosis of skin cancer and other skin conditions. Their flagship product, the Pigmented Lesion Assay (PLA), allows for the analysis of skin biopsy samples using an adhesive patch. This method offers a significant advancement over traditional methods that rely on subjective visual diagnosis and invasive surgical biopsies, which are often prone to error and lead to unnecessary procedures.
The PLA test is designed to detect melanoma in clinically atypical pigmented lesions with high accuracy, providing physicians with critical, objective data to enhance patient care and reduce healthcare costs. By utilizing DermTech’s non-invasive approach, patients experience enhanced comfort and safety during the diagnostic process.
DermTech is committed to advancing the field of dermatology through continuous innovation. In addition to their focus on skin cancer, the company is developing genomic tests to diagnose inflammatory skin diseases and conditions related to aging. These efforts are aimed at providing comprehensive solutions that improve the accuracy of diagnoses and overall patient outcomes.
With a strong emphasis on scientific development and patient care, DermTech partners with various healthcare providers and institutions to expand the availability of their tests. The company generates revenue through their laboratory services, ensuring a sustainable business model while aiming for growth and expanded impact in the dermatology field.
DermTech (NASDAQ: DMTK) has joined The Skin Cancer Foundation Corporate Council, a network of over 100 companies committed to fighting skin cancer. This strategic partnership aims to promote education on skin checks and early diagnosis, which are crucial for survival, given that one in five Americans will face skin cancer in their lifetime. DermTech will also sponsor the Champions for Change Gala on May 11, 2021, supporting the Foundation's initiatives. The company emphasizes the importance of early detection in combating this deadly disease.
DermTech, Inc. (NASDAQ: DMTK) has released topline results from its economic study on the Pigmented Lesion Assay (PLA), a non-invasive test enhancing melanoma detection. The study suggests the PLA can save between $56.6 million to $81.3 million over three years for health plans, translating to $0.54 to $0.77 per member monthly, compared to visual assessment and histopathology. The model indicates high treatment costs for advanced melanoma, emphasizing the PLA's potential to improve early detection and reduce unnecessary procedures, thus enhancing patient care.
DermTech reported robust financial results for Q4 and the full year 2020, highlighted by a 69% increase in billable sample volume to approximately 8,300 and total revenue growth of 33% to $2.1 million for Q4. Annual total revenue reached $5.9 million, a 75% increase. Assay revenue soared by 214% in Q4 to $1.6 million. However, the company faced a net loss of $9.4 million for Q4 and $35.2 million for the full year. As of December 31, 2020, DermTech held $63.8 million in cash and equivalents. First quarter 2021 assay revenue is projected between $1.6 and $1.9 million.
DermTech (NASDAQ: DMTK), a leader in precision dermatology, announced that four of its research abstracts were selected for presentation at the Society for Investigative Dermatology (SID) Virtual Meeting from May 3-8, 2021. Chief Scientific Officer Michael Howell, Ph.D., will present findings on non-invasive stratification of atopic dermatitis patients. Other studies include genomics of non-melanoma skin cancers and UV-induced DNA mutations. The abstracts will also appear in a special issue of the Journal of Investigative Dermatology.
DermTech, Inc. (NASDAQ: DMTK) plans to release its fourth quarter 2020 financial results on March 4, 2021, after market close. A conference call will follow at 1:30 p.m. PT to discuss the results. Interested parties can join via phone or through a live webinar. DermTech focuses on precision dermatology, leveraging a non-invasive skin genomics platform for early skin cancer detection and treatment customization. The company aims to enhance dermatology care and improve patient outcomes. For additional details, visit investors.DermTech.com.
DermTech, Inc. (NASDAQ: DMTK), a leader in precision dermatology, announced its participation in two upcoming investor conferences. The Cowen 41st Annual Healthcare Conference will feature a presentation on March 3, 2021, at 3:20 p.m. ET, followed by the Oppenheimer 31st Annual Healthcare Conference on March 17, 2021, at 1:50 p.m. ET. Investors can access live webcasts and archived presentations through DermTech’s website. DermTech focuses on non-invasive skin genomics to enhance dermatology care and early skin cancer detection.
DermTech, Inc. (NASDAQ: DMTK) has partnered with Blue Cross Blue Shield of Texas to offer its Pigmented Lesion Assay (PLA) to approximately 6 million members. Effective from February 1, 2021, the PLA—a non-invasive test for early melanoma detection—will be accessible as an in-network option for several BCBSTX plans. The PLA boasts a 99% negative predictive value, significantly minimizing the risk of missed melanoma cases. DermTech aims to enhance patient access to this transformative test, reinforcing its commitment to precision dermatology.
DermTech (NASDAQ: DMTK) announced the addition of Dr. Lisa Beck and Dr. George Han to its Scientific Advisory Board. Dr. Beck is renowned for her expertise in atopic dermatitis and eczema, currently serving at the University of Rochester Medical Center, while Dr. Han is noted for his work in teledermatology at Mount Sinai Health System. These appointments aim to enhance DermTech's research and development in skin cancer and diseases, leveraging their extensive clinical and research experience to advance precision dermatology.
DermTech (NASDAQ: DMTK), a leader in precision dermatology, announced that its management will present at the BTIG Virtual MedTech Conference on February 17, 2021, at 1:00 p.m. Eastern Time. A live webcast will be accessible through the Investor Relations section of DermTech's website, with an archived version available for 90 days post-conference. DermTech aims to revolutionize dermatology with its non-invasive skin genomics platform, focusing on early skin cancer detection and personalized treatments for inflammatory diseases.
DermTech (NASDAQ: DMTK), a leader in precision dermatology, announced its participation in the Melanoma Research Foundation’s (MRF) “Ask the Expert” webinar series in January. The webinars aim to enhance awareness and education about melanoma, particularly focusing on early skin cancer detection hindered by COVID-19 delays. Notable speakers include experts from various institutions discussing preventive measures. DermTech emphasizes its mission to transform dermatology through non-invasive genomic analysis, providing critical insights into early skin cancer detection.
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