Caredx Stock Price, News & Analysis

CareDx, Inc. (Nasdaq: CDNA) announced a significant development regarding its AlloSure Heart test, which has received final reimbursement pricing of $2,753 from Palmetto MolDx. This donor-derived cell-free DNA test detects organ rejection in heart transplant patients and is covered by Medicare when paired with AlloMap Heart gene expression profiling. The combination, known as HeartCare, is a non-invasive solution aimed at enhancing patient management. CEO Reg Seeto emphasized that this milestone will improve heart transplant patient care accessibility.

CareDx, a leader in precision medicine for transplant patients, announced its participation in two virtual conferences. The Jefferies Virtual London Healthcare Conference is scheduled for November 17, 2020, at 10:50 AM EST, while the Canaccord Genuity Virtual MedTech & Diagnostics Forum is set for November 19, 2020, at 3:30 PM EST. Interested parties can access live webcasts on the company’s investor website. CareDx focuses on genomics-based solutions for transplant care, offering vital testing services and digital healthcare tools for patients and caregivers.

CareDx (Nasdaq: CDNA) announced a study published in Transplantation Direct indicating that AlloSure may effectively signal progression of BK virus (BKV) in transplant patients. The research utilized data from the Diagnosing Acute Rejection in Kidney Transplant Recipients (DART) study, revealing that AlloSure can distinguish asymptomatic BKV from BKV-associated nephropathy (BKVAN). This method could enhance patient care by reducing reliance on kidney biopsies, which have significant limitations. CareDx aims to expand the understanding of AlloSure to improve outcomes for transplant patients.

CareDx, Inc. (Nasdaq: CDNA) announced participation in the 2020 Pacific Northwest Virtual Kidney Walk to support kidney health, led by CMO Sasha King as chair of the event. Scheduled for November 8 at 10:00 AM PST, the virtual event aims to unite the kidney community and raise awareness for the 37 million Americans affected by kidney disease. This initiative highlights CareDx's commitment to patient advocacy and support for kidney transplant patients, especially during the pandemic.

CareDx, Inc. (Nasdaq: CDNA) announced pivotal management changes effective November 1, 2020. Peter Maag will transition from CEO to Executive Chairman, while Reginald Seeto, previously President and Chief Business Officer, steps in as the new CEO. Maag has led the company since 2012, overseeing significant growth and the IPO. The board expresses gratitude for his leadership and is optimistic about Seeto's experience and strategic vision to further enhance CareDx's position in precision medicine for transplant patients.

CareDx reported impressive financial results for Q3 2020, with total revenue reaching $53.4 million, a 58% increase from the previous year. Testing services revenue was $45.5 million, up from $28.2 million in Q3 2019. Despite this growth, the company posted a net loss of $2.8 million compared to a $1.8 million loss a year earlier. Non-GAAP net income was $5.1 million, up from $0.9 million, and adjusted EBITDA improved to $5.6 million. As of September 30, CareDx's cash reserves stood at $213.8 million, but revenue guidance is suspended due to COVID-19 uncertainties.

CareDx, Inc. (Nasdaq: CDNA) showcased its AlloSure surveillance tool during the virtual ASN annual conference from October 22-25, 2020, reflecting increasing interest from nephrologists.

Eleven abstracts highlighting AlloSure were presented, underscoring its significance in transplant patient management. The company also sponsored an educational symposium titled Diagnostic Controversies in Transplantation. Notably, real-world data from over 1,000 patients will be shared, showing positive clinical outcomes associated with the AlloSure tool.

CareDx announces that the Centers for Medicare and Medicaid Services (CMS) has recommended continued coverage of AlloMap for heart transplant patients via local Medicare Administrative Contractors (MACs). This follows a memo acknowledging multiple studies demonstrating AlloMap's clinical utility since its initial request for a national coverage determination in 2013. AlloMap, adopted by over 90% of U.S. transplant centers and supported by ISHLT guidelines, continues to receive reimbursement, affirming its status as the standard of care in transplant medicine.

CareDx, Inc. (CDNA) announced its participation in the virtual 46th annual ASHI conference, taking place from October 19-21, 2020. The company will showcase its latest innovations for HLA laboratories, including a symposium led by Dr. Rajalingam Raja on October 20, highlighting the AlloSeq Tx17 HLA typing solution. Presentations and posters will cover various advancements in HLA typing, including hybrid capture techniques and genetic risk factors in transplantation. CareDx aims to strengthen community engagement and share updates on best practices in transplant patient care.