Caredx Stock Price, News & Analysis

CareDx, Inc. (Nasdaq: CDNA) announces the successful integration of TxAccess with the University of Alabama at Birmingham (UAB) Comprehensive Transplant Institute, expanding its reach to over 500 dialysis centers. TxAccess simplifies patient referrals to transplant waitlists, streamlining communication between transplant centers, nephrologists, and dialysis organizations. Over 38,000 referrals have been managed through this service, highlighting its effectiveness in improving patient coordination.

CareDx announced its participation in the American Society of Nephrology (ASN) Kidney Week 2021, showcasing key findings related to its AlloSure test.

The company will present two abstracts, emphasizing the test's role in kidney transplant patient management, including insights on donor-derived cell-free DNA. Additionally, CareDx is hosting a Transplant Innovation Day on November 5, featuring discussions on xenotransplantation and validation data for AlloMap Kidney.

The CEO highlighted the significance of these advancements in transplantation science.

CareDx, Inc. (Nasdaq: CDNA) announced the completion of its leadership transition from Peter Maag, PhD, to Reginald Seeto, MBBS, as Chief Executive Officer. This change marks the end of an orderly transition that began in November 2020, when Maag became Executive Chairman. He will now step down from this role but will remain on the Board of Directors. Michael D. Goldberg, the lead independent Director, will return as independent Chair, a position he previously held from 2011 to 2019. CareDx focuses on precision medicine solutions for transplant patients.

CareDx, Inc. (CDNA) reported a record revenue of $75.6 million for Q3 2021, marking a 42% year-over-year increase. The company achieved an 86% growth in testing services volume, providing around 40,000 patient results. The launch of AlloSure Lung was announced, and a publication validating the AlloMap test was released. Despite the revenue growth, CareDx reported a net loss of $11.9 million for the quarter, compared to a $2.8 million loss in Q3 2020. The company anticipates full-year 2021 revenue between $290 million and $293 million.

CareDx announced the successful completion of a longitudinal study by OrganX involving over 1,000 kidney transplant patients. This study demonstrated that AlloSure Kidney can more accurately detect allograft rejection compared to traditional methods like eGFR and DSA testing. Key findings indicate that increased dd-cfDNA levels correlate with rejection activity. CEO Reg Seeto highlighted that this is the largest cohort of paired-biopsy results comparing AlloSure to standard care. The study solidifies AlloSure's position in the transplant monitoring market.

CareDx announces a collaboration with Eledon Pharmaceuticals to assess the efficacy of Eledon's investigational drug, AT-1501, in preventing organ rejection in renal transplants using AlloSure technology. Eledon recently secured approval from Health Canada for human trials of AT-1501, which is expected to commence in Q4 2021 with interim data releases anticipated in late 2022. This partnership aims to leverage CareDx's innovative solutions to enhance patient outcomes in transplantation.

CareDx, Inc. (Nasdaq: CDNA) is set to report its third quarter 2021 financial results on October 28, 2021, after market close. A conference call will follow at 1:30 p.m. PT/4:30 p.m. ET. Interested parties can join by calling 877-705-6003 or 201-493-6725, referencing Conference ID: 13724010. CareDx specializes in precision medicine solutions for transplant patients, providing a range of testing services and digital healthcare tools aimed at improving patient outcomes.

CareDx, Inc. (Nasdaq: CDNA) announced the commercial launch of AlloSure Lung on October 12, 2021, in conjunction with the CHEST 2021 Meeting. This non-invasive testing solution aims to improve the management of high-risk lung transplant patients, who face significant survival challenges and the risk of Chronic Lung Allograft Dysfunction (CLAD). AlloSure Lung has already received coverage from several private payers and is supported by three clinical validation studies involving 155 patients. The product aims to meet an unmet need and enhance precision care for transplant patients.

CareDx, Inc. (CDNA) announced a multicenter study validating its solutions AlloMap and AlloSure for kidney transplantation, as published in Kidney360. This study, encompassing data from 14 top transplant centers, demonstrates that AlloMap can effectively differentiate between organ rejection and immune quiescence. The combination of AlloSure and AlloMap provides a comprehensive assessment, achieving a combined AUC of 0.894. CEO Reg Seeto emphasized the extended application of multimodality solutions in kidney care, reflecting CareDx's commitment to innovate in transplant medicine.