Caredx Stock Price, News & Analysis

CareDx, Inc. (CDNA) announced a preliminary revenue of approximately $53.0 million for Q3 2020, a 57% increase from $33.8 million in Q3 2019. This growth was driven by testing revenue of $45.2 million, up from $28.2 million year-over-year. Notably, around 21,800 AlloSure and AlloMap tests were conducted during the quarter. The company emphasizes its commitment to supporting transplant patients amid the pandemic and continues to invest in growth and digital solutions for enhanced patient care.

CareDx, Inc. (Nasdaq: CDNA) announced pivotal clinical data publications for AlloSure Lung, a non-invasive biomarker for acute cellular rejection (ACR) in lung transplant patients. The LARGO study, involving 69 patients, demonstrated AlloSure's effectiveness in identifying ACR without invasive procedures. Additionally, the University of Texas San Antonio published findings from a cohort of 48 patients, emphasizing the tool's value for monitoring allograft dysfunction, especially during the COVID-19 pandemic. Experts highlight AlloSure Lung as a promising advancement in transplant care.

CareDx, Inc. (Nasdaq: CDNA) announced the release of a final local coverage determination by Palmetto MolDx for AlloSure Heart, a dd-cfDNA test identifying cell injury that leads to organ rejection. Medicare reimbursement for this test follows a thorough technical assessment, highlighting its clinical utility in transplant management. This decision facilitates the launch of HeartCare, which combines AlloSure Heart with AlloMap Heart, offering a comprehensive, non-invasive solution for heart transplant patients during the COVID pandemic. This coverage enhances patient access and optimizes care management.

CareDx, Inc. (Nasdaq: CDNA) launched AlloCare, a mobile app aimed at enhancing medication adherence and health management for transplant patients. The app will debut at the AlloCare Transplant Festival on September 26, 2020, designed to foster connections within the transplant community. The festival will feature notable personalities and over 25 transplant organizations, emphasizing CareDx's commitment to improving long-term outcomes through innovative patient engagement solutions. The app is now available for download in the Apple App Store.

CareDx, Inc. (CDNA) announced its participation in the 28th International Congress of The Transplantation Society (TTS) from September 13-16, 2020. The company will showcase its AlloSure and AlloSeq cfDNA tools through four virtual symposia and six poster presentations. Expert speakers will discuss topics like risk prediction in kidney transplantation and the use of dd-cfDNA as a biomarker. CareDx aims to support continuous education for the transplant community and emphasize innovations in transplant medicine.

CareDx, Inc. (NASDAQ: CDNA), a precision medicine leader, has appointed new senior executives in key areas: Digital Services, Laboratory Operations, Business Development, and Market Access. The appointments aim to enhance operational efficiency amidst rapid growth. Notable new hires include Kashif Rathore, Ryan Phan, Sean Grant, and Danielle Scelfo, each bringing extensive experience from leading companies. CEO Peter Maag emphasizes the need for robust leadership to navigate increasing operational complexities and advance CareDx's market strategies.

CareDx, a precision medicine company, announced that its Chairman and CEO, Peter Maag, will present at the AAKP and George Washington University summit on July 16-17, 2020. The event focuses on innovations in kidney disease, particularly the role of artificial intelligence in transplant care. CareDx aims to enhance patient care through its digital tools, AiTraC and AlloCare, which address information management challenges for transplant patients. The summit highlights the global interest in improving transplant outcomes through data-driven solutions.

CareDx, Inc. (Nasdaq: CDNA) announced the publication of a study in Kidney360 evaluating its AlloSure tool against another monitoring method for kidney transplant rejection. The study, involving 76 patients, indicated that AlloSure provides faster results, with 75% of results delivered at least one day earlier than its counterpart, demonstrating superior accuracy in clinical interpretation. This validation highlights AlloSure's effectiveness in addressing transplant-specific testing needs.

CareDx (Nasdaq: CDNA) announced the full exercise of underwriters' option to purchase an additional 585,937 shares at $32.00 per share, resulting in net proceeds of approximately $17.6 million. This follows a public offering of 3,906,250 shares, which closed on June 15, 2020. With the additional shares, CareDx has sold a total of 4,492,187 shares, generating total net proceeds of around $134.7 million after expenses. The offering was managed by Goldman Sachs & Co. LLC and Jefferies LLC, among others.