Caredx Stock Price, News & Analysis

CareDx, Inc. (Nasdaq: CDNA) reported its financial results for Q4 and the full year 2022. The company achieved full-year revenue of $321.8 million, a 9% increase from 2021, with Q4 revenue hitting $82.4 million, up 4% year-over-year. Testing volumes for AlloMap and AlloSure grew by 19% to approximately 182,000 tests for 2022. However, the net loss increased to $76.6 million for the year, from $30.7 million in 2021. Cash and equivalents stand at $293 million. For 2023, CareDx anticipates revenue between $328 million and $338 million.

CareDx, Inc. (NASDAQ: CDNA) announced its participation in the American Society of Transplantation Cutting Edge of Transplantation (CEoT) meeting in Scottsdale, Arizona, from February 23-25. The company will showcase advancements in molecular diagnostics and artificial intelligence aimed at improving the health of transplant patients. A symposium titled 'Elevating Transplant Care by Combining Molecular Diagnostics and Artificial Intelligence' is scheduled for February 24, featuring a panel of leading experts in transplantation. CareDx emphasizes its commitment to innovation and enhancing long-term allograft health.

CareDx, Inc. (NASDAQ: CDNA) has announced it will report its financial results for the fourth quarter and full year 2022 on February 27, 2023, after market closure. A conference call will follow at 1:30 p.m. PT / 4:30 p.m. ET for management to discuss the results. Interested parties can join the call by dialing 1-877-704-4453 (domestic) or 1-201-389-0920 (international), referencing Conference ID: 13736063. CareDx specializes in precision medicine solutions for transplant patients, delivering testing services and products throughout the patient journey.

CareDx, a precision medicine company, is set to present its innovative solutions for cellular transplant and therapy at the 2023 Tandem Meetings from February 15-19 in Orlando, Florida. CEO Reg Seeto emphasized the importance of these advancements in cell therapy monitoring and digital health. Notable presentations include AutoCell™, a high-sensitivity solution for CAR-T cell monitoring, and various digital health solutions aimed at improving patient care across transplant centers. CareDx's offerings include workflow management, medication adherence solutions, and remote monitoring tools designed for effective patient engagement.

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.