Caredx Stock Price, News & Analysis

CareDx, Inc. (CDNA) announced the publication of a guide in the Journal of the American College of Cardiology to assist clinicians in transitioning from invasive endomyocardial biopsies (EMB) to non-invasive monitoring for heart transplant rejection using AlloMap GEP and AlloSure dd-cfDNA. The guide highlights the clinical utility of these non-invasive tests, emphasizing their effectiveness in rejection surveillance. CareDx's HeartCare services are now utilized in over 90% of U.S. heart transplant centers, reflecting a growing trend towards non-invasive practices in heart transplant monitoring.

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.