Caredx Stock Price, News & Analysis

CareDx, Inc. (Nasdaq: CDNA) reported preliminary financial results for the third quarter of 2024. The company expects:

- Revenue between $82-83 million, up ~23% year-over-year
- Testing Services volume of ~44,600, up ~16% year-over-year
- Testing services revenue of $60-61 million, up ~26% year-over-year
- Patient and Digital Solutions revenue of ~$11.9 million, up 20% year-over-year
- Products revenue of ~$10.2 million, up 7% year-over-year

CareDx ended the quarter with ~$240 million in cash, cash equivalents, and marketable securities, with no debt. The company will report full Q3 2024 results on November 4, 2024, after market close, followed by a conference call at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time.

CareDx, Inc. (Nasdaq: CDNA), a precision medicine company focused on transplant healthcare solutions, has announced an inducement grant for its newly appointed Chief Data and AI Officer, Jing Huang. On October 8, 2024, Ms. Huang was granted 15,547 restricted stock units (RSUs) and an option to purchase 22,248 shares of CareDx common stock. The RSUs will vest over four years in equal annual installments starting October 8, 2025. The stock option, with an exercise price of $32.16, will vest over four years, with 25% vesting on October 8, 2025, and the remainder vesting monthly thereafter. This grant was made under CareDx's 2019 Inducement Equity Incentive Plan, approved by the Compensation Committee in accordance with Nasdaq Listing Rule 5635(c)(4).

CareDx, Inc. (Nasdaq: CDNA), a leading precision medicine company focused on transplant healthcare solutions, has announced its upcoming Investor Day on October 15, 2024, in New York City. The event will begin at 8:00 a.m. Eastern Time / 5:00 a.m. Pacific Time and will feature presentations from the company's leadership team.

Interested individuals can attend the event in person by registering online, but capacity is For those unable to attend, a live webcast will be available on the investor relations section of CareDx's website. A replay of the event will be posted on the company's website and will be accessible for at least 30 days after the event.

CareDx, Inc. (Nasdaq: CDNA), a precision medicine company focused on transplant healthcare solutions, has announced the closure of a Department of Justice (DOJ) investigation with no finding of wrongdoing. The DOJ has declined to prosecute or take further action, as revealed in a Court document unsealed on October 7, 2024. This decision follows the U.S. Securities and Exchange Commission's (SEC) closure of its investigation in September 2023, also without taking any action against CareDx.

The investigations were related to a qui tam action filed by a former CareDx employee on February 12, 2021, in the federal district court for the Eastern District of New York. CareDx views these outcomes as validation that the allegations were meritless and reinforces confidence in its operational integrity. The company plans to vigorously defend itself if the former employee proceeds with litigation.

CareDx, Inc. (Nasdaq: CDNA), a precision medicine company focused on transplant healthcare solutions, has granted restricted stock units (RSUs) to 14 new employees as an inducement for employment. A total of 44,000 shares of common stock were awarded under the company's 2019 Inducement Equity Incentive Plan, approved under Nasdaq Listing Rule 5635(c)(4).

The RSUs have varying vesting schedules:

• 9,000 shares vest over four years (25% after one year, then annually)
• 14,000 shares vest over four years (25% after one year, then quarterly)
• 18,000 shares vest over three years (33.33% after one year, then quarterly)
• 2,000 shares vest over two years (50% annually)
• 1,000 shares vest over two years (50% after one year, then quarterly)

All grants are subject to continued service through each vesting date.

CareDx (Nasdaq: CDNA) has announced key executive appointments to drive its strategic growth initiatives. Keith Kennedy joins as Chief Operating Officer, bringing over 20 years of healthcare leadership experience. He will lead the company's operational excellence transformation. Jessica Meng becomes Chief Commercial Officer, tasked with driving global commercial growth across CareDx's portfolio. She brings expertise in commercial strategies for pharmaceutical and molecular diagnostics industries.

Additionally, Marica Grskovic, Ph.D., has been appointed Chief Strategy Officer to lead strategic planning and corporate development. These appointments come as CareDx prepares to share its long-term growth strategy during an Investor Day in October 2024. The company focuses on developing healthcare solutions for transplant patients and caregivers.

CareDx, Inc. (Nasdaq: CDNA) announced that the Centers for Medicare and Medicaid Services (CMS) plans to retire a draft LCD that would have restricted coverage for non-invasive blood-based surveillance testing for allograft rejection. This decision, along with the February 2024 removal of restrictive language in the accompanying Billing Article, effectively restores longstanding coverage for AlloSure®, AlloMap®, and HeartCare®.

The company's President and CEO, John W. Hanna, expressed appreciation for CMS listening to patients and clinicians who advocated for access to these tests. The restored coverage includes surveillance monitoring of organ transplant rejection without requiring ties to invasive biopsies. CareDx has been a proponent for improving access to transplantation innovations and supported efforts to restore Medicare coverage for non-invasive surveillance testing.

CareDx (Nasdaq: CDNA) reported strong Q2 2024 results, with total revenue of $92.3 million, up 31% year-over-year. Testing Services volume grew 17% to 43,700 tests. The company achieved non-GAAP net income of $13.6 million and positive adjusted EBITDA of $12.9 million, a significant improvement from Q2 2023. CareDx generated $18.9 million in cash from operations and ended the quarter with $228.9 million in cash and no debt.

Key highlights include expanded coverage by 27 million lives nationwide and publication of studies validating their HeartCare® and AlloSure® Kidney products. CareDx raised its 2024 guidance, now expecting annual revenue of $320-$328 million and adjusted EBITDA of $9-$15 million. The company's focus on growth and serving transplant patients has driven performance across all business segments.

CareDx (Nasdaq: CDNA), a company focused on innovative healthcare solutions for transplant patients, has announced its plan to release second quarter 2024 financial results on Wednesday, July 31, 2024, after the market closes. The company will host a conference call at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time to discuss the results. Interested parties can join the call by dialing 1-800-267-6316 (domestic) or 1-203-518-9783 (international) and using the Conference ID: CareDx. Additionally, a live webcast will be available on the investor relations section of CareDx's website.