Castle Biosciences Stock Price, News & Analysis

Castle Biosciences (CSTL) announced a peer-reviewed study published in Clinical Gastroenterology and Hepatology, demonstrating that their TissueCypher test significantly enhances predictions for patients with Barrett's esophagus at risk of developing esophageal cancer.

The study included data from 552 patients, revealing that 51.8% of those diagnosed as non-dysplastic progressed to high-grade dysplasia or cancer. TissueCypher outperformed traditional evaluations, supporting its integration into clinical practice for better risk management.

Castle Biosciences has acquired AltheaDx, enhancing its portfolio with the IDgenetix test, which now covers seven additional mental health conditions. This acquisition expands Castle's estimated U.S. total addressable market (TAM) by approximately $5 billion to $8 billion. The transaction includes $65 million in initial consideration, with potential future payments of up to $75 million based on performance milestones.

Castle Biosciences, Inc. (NASDAQ: CSTL) will release its financial results for Q1 2022 on May 9, 2022, after market close. A conference call to discuss these results is scheduled for 4:30 p.m. ET on the same day. The company focuses on innovative diagnostic tests for diseases like skin cancers and has ongoing R&D for treatments in psoriasis and related conditions. Investors are encouraged to join the call and can access a webcast through the company's website.

Castle Biosciences (NASDAQ: CSTL) announced a study showing that melanoma patients tested with DecisionDx-Melanoma had a 27% improvement in melanoma-specific survival compared to those who were not tested. The study, part of a collaboration with the National Cancer Institute, analyzed data from 3,261 tested patients against 10,863 untested ones. Results indicated that the DecisionDx-Melanoma test delivers valuable risk stratification, aiding in personalized treatment and potentially improving patient outcomes. The findings will be presented at the 18th European Association of Dermato Oncology Congress.

Castle Biosciences (CSTL) announced the presentation of its skin cancer gene expression profile tests at the 18th European Association of Dermato Oncology Congress in Seville, Spain, from April 21-23, 2022. Key presentations include data on the 31-gene test for melanoma, the 40-gene test for high-risk squamous cell carcinoma, and advancements in diagnostic testing for melanocytic lesions, showcasing significant improvements in survival outcomes and diagnostic accuracy. These innovations aim to enhance patient management and treatment decisions.

Castle Biosciences (Nasdaq: CSTL) presented data at the RAD Conference demonstrating that its non-invasive skin scraping technique effectively collects RNA for gene expression analysis in inflammatory skin diseases, including psoriasis and atopic dermatitis. The study, involving a sample of 40 patients, highlighted a >0.99 correlation in RNA yield, suggesting reliability for future tests. Castle's ongoing 4,800 patient study aims to validate a gene expression profile test, with initial results expected in 2023 and potential launch by 2025, addressing a significant need for personalized medication selection.

Castle Biosciences, Inc. (Nasdaq: CSTL) announced that CEO Derek Maetzold and CFO Frank Stokes will present a company overview at the 21st Annual Needham Virtual Healthcare Conference on April 12, 2022, at 3:00 p.m. Eastern time. The presentation can be accessed via a live audio webcast on the company's website, with a replay available for two weeks afterward. Castle Biosciences focuses on innovative diagnostic tests for conditions like skin cancers and Barrett’s esophagus, aiming to improve patient care.

Castle Biosciences (Nasdaq: CSTL) has signed a definitive agreement to acquire AltheaDx, a company specializing in pharmacogenomics and mental health diagnostics, for $65 million, comprising $32.5 million in cash and $32.5 million in stock. This strategic acquisition aims to expand Castle's market presence in the estimated $8 billion U.S. pharmacogenomics market and enhance patient care solutions through the IDgenetix test for mental health conditions. Closing is expected in Q2 2022, contingent on standard conditions.

Castle Biosciences, Inc. (CSTL) announced that the Centers for Medicare & Medicaid Services (CMS) granted Advanced Diagnostic Laboratory Test (ADLT) status for its TissueCypher Barrett’s Esophagus test, effective March 24, 2022. This status allows for Medicare reimbursement, expanding access for patients at risk of esophageal cancer. TissueCypher is designed to predict the development of high-grade dysplasia and/or esophageal cancer in patients with Barrett’s esophagus. This is Castle's fourth test to achieve ADLT status.