Castle Biosciences Stock Price, News & Analysis

Castle Biosciences (Nasdaq: CSTL) announces a presentation at the JMP Securities Life Sciences Conference on June 16, 2022, by CEO Derek Maetzold and CFO Frank Stokes at 10:30 a.m. Eastern time. A live audio webcast will be accessible on Castle's website, with a replay available for two weeks post-event. The company focuses on innovative diagnostic tests for various cancers and health conditions, aiming to enhance patient care through advanced solutions. For details, visit CastleBiosciences.com.

Castle Biosciences has been awarded the 'Best New Technology Solution – Dermatology' in the MedTech Breakthrough Awards for its DecisionDx®-Melanoma gene expression profile test. This award recognizes Castle's innovation in predicting the risk of metastasis and recurrence in patients with invasive cutaneous melanoma. The DecisionDx-Melanoma test combines clinical factors with tumor biology, providing personalized treatment insights. In 2021, Castle's tests also received accolades in oncology, showcasing its commitment to improving patient care through advanced diagnostics.

Castle Biosciences (NASDAQ: CSTL) announced new study findings showing that its TissueCypher® Barrett’s Esophagus test can accurately predict progression to high-grade dysplasia (HGD) and esophageal adenocarcinoma (EAC) in patients with Barrett’s esophagus (BE). The study involved 154 patients and found that TissueCypher surpassed standard pathology, accurately identifying 71% of those who progressed, compared to 63% by pathologists. The test may help standardize care plans and improve management decisions for BE patients, reducing risks of missed diagnoses.

Castle Biosciences has partnered with Research to Prevent Blindness to enhance research opportunities for medical students focused on ocular cancer. The initiative includes funding for a fellowship that allows students to dedicate a year to ocular cancer research, addressing conditions like uveal melanoma, which affects approximately 2,000 individuals annually in the U.S. The fellowship offers a $30,000 grant, facilitating significant research contributions in this underrepresented field.

Castle Biosciences, Inc. (Nasdaq: CSTL) announced significant findings on its DecisionDx-SCC test at the 2022 ACMS Annual Meeting. This 40-gene expression profile test effectively risk-stratifies patients with cutaneous squamous cell carcinoma (SCC) by biologic risk of metastasis, supporting previous validation studies. In a multi-center study of 1,018 patients, the test demonstrated a statistically significant difference in metastasis-free survival across risk classes. The findings emphasize the test's potential to enhance clinical decision-making and personalize patient treatment.

Castle Biosciences (NASDAQ: CSTL) announces its role as a national sponsor of The Sun Bus, a mobile clinic offering free skin checks and sun safety education. The initiative highlights skin cancer awareness, recognized as the most commonly diagnosed cancer in the U.S. In 2022, The Sun Bus will provide over 360 hours of services at more than 50 locations across various states, including Texas and Georgia. Castle's leadership emphasizes the importance of early detection and prevention in improving patient care.

Castle Biosciences (CSTL) reported Q1 2022 revenues of $26.9 million, an 18% increase from Q1 2021. Adjusted revenues rose 50% to $26.3 million. Total test reports delivered surged 68% year-over-year to 8,627, driven by strong performance in their dermatology tests. The company is optimistic about its pipeline initiatives, which could add $1.9 billion to its U.S. total addressable market. However, they reported a net loss of $24.6 million, significantly higher than the prior year. Cash reserves stand at $309 million, and revenue guidance for the year has been raised to $118-123 million.

Castle Biosciences (CSTL) announced a collaboration with Miss America 2020, Camille Schrier, to promote its IDgenetix® genetic testing for mental health treatment. The test aims to enhance treatment outcomes by tailoring medications based on genetic profiles. Schrier shared her personal experience, indicating a potential improvement in her medication efficacy through IDgenetix. A randomized controlled trial showed that patients using IDgenetix had more than 2.5 times better remission rates than those who did not undergo genetic testing. This initiative coincides with Mental Health Awareness Month.