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) reported its third-quarter 2022 financial results, showcasing a 54% year-over-year growth in billable sample volume, totaling approximately 18,080. Assay revenue reached $3.4 million, a 16% increase from Q3 2021. However, total revenue increased only 18% to $3.6 million, and the company predicts finishing 2022 below previous guidance due to commercial payer challenges. The net loss widened to $28.8 million or ($0.96) per share, up from $20.1 million in Q3 2021. DermTech aims to improve payer relationships and expects at least $13 million in assay revenue for full-year 2022.
DermTech will host a conference call and webcast on November 3, 2022 at 5:00 p.m. ET to discuss its third-quarter 2022 financial results. A press release will precede the call, detailing earnings for the quarter. Interested participants can register for the call or listen via a webcast link provided in the announcement. A replay will be available post-call on DermTech's website. DermTech focuses on precision dermatology, utilizing a non-invasive genomics platform for skin cancer detection and inflammatory disease treatment.
DermTech (NASDAQ: DMTK) presented at the Biomarkers & Precision Medicine USA Congress on Oct. 3-4 in San Diego, showcasing its non-invasive Smart Sticker technology. The presentation by Dr. Erica Montano highlighted its role in optimizing clinical trial enrollment and diagnostic accuracy for conditions like atopic dermatitis and psoriasis. DermTech's innovative approach emphasizes genomic and proteomic analysis to enhance patient care and streamline research. This technology aims to revolutionize dermatology through improved patient outcomes and personalized medical approaches.
DermTech (NASDAQ: DMTK) recently participated in the Outsourcing in Clinical Trials Southern California event, emphasizing the shift towards decentralized clinical trials to improve patient satisfaction and data quality. Senior Project Manager,
DermTech (NASDAQ: DMTK) has granted restricted stock units (RSUs) totaling 459,896 shares to 30 new employees as part of its 2022 Inducement Equity Incentive Plan. Approved by the Compensation Committee on September 16, 2022, these RSUs will vest over four years, with 25% vesting on September 5, 2023, and the remainder in quarterly installments. The grants aim to facilitate employee acceptance and retention, aligning with Nasdaq Listing Rule 5635(c)(4). DermTech focuses on precision dermatology through non-invasive skin genomics.
DermTech, Inc. (NASDAQ: DMTK) reported strong second-quarter 2022 results, with a 56% increase in billable sample volume to approximately 18,320 and a 36% rise in total revenue to $4.2 million. Assay revenue surged 43% to $4.1 million. However, the company revised its full-year 2022 outlook, expecting assay revenue between $16 million and $19 million due to lower average selling prices influenced by Medicare billing edits. Operating expenses are projected to remain flat in the second half of the year. DermTech maintains a robust cash position of $177.4 million, sufficient to fund operations through Q1 2024.
DermTech, Inc. (NASDAQ: DMTK) has appointed Jennifer Eilemberg as chief compliance officer and Steven Stone as senior vice president of research and development. Eilemberg brings over 20 years of experience in healthcare law and compliance, previously serving in high-profile roles including general counsel. Stone, an expert in molecular diagnostics, has extensive experience in developing cancer tests. CEO John Dobak highlighted the new appointments as crucial for upcoming operational milestones in the company's growth in precision dermatology, utilizing its non-invasive skin genomics platform.
DermTech (NASDAQ: DMTK) will host a conference call on August 8, 2022 at 5:00 p.m. ET to discuss its second-quarter 2022 financial highlights. A press release detailing earnings will precede the call. Participants can join via phone using designated numbers. DermTech is a leader in precision dermatology, focusing on non-invasive skin genomics to improve early detection of skin cancers and treat inflammatory diseases. A replay of the call will be available on their website afterward.
DermTech, Inc. (NASDAQ: DMTK) announced the appointment of Kirk D. Malloy, Ph.D., and Mark C. Capone, M.S., to its board of directors, effective July 18, 2022. This addition expands DermTech’s board to eight members. Both directors bring extensive experience in life sciences and business development, enhancing DermTech's strategic direction. Dr. Malloy has over 25 years in leadership roles at companies like Illumina, while Mr. Capone previously led Myriad Genetics, positioning DermTech for growth in precision dermatology.
DermTech has joined the Pediatric Dermatology Research Alliance (PeDRA) Corporate Council to contribute to pediatric skin disease research. This partnership aims to improve treatment options for children with skin disorders, enhancing DermTech's focus on precision dermatology through its non-invasive genomics platform. DermTech Stratum™ will aid in developing research initiatives and guidelines in pediatric dermatology. The company will participate in upcoming PeDRA events, further solidifying its role in advancing dermatological health for children.
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