Castle Biosciences Stock Price, News & Analysis

Castle Biosciences (CSTL) reported strong financial results for 2024, with revenue reaching $332.1 million, a 51% increase from 2023. The company delivered 96,071 total test reports, up 36% year-over-year. Key highlights include:

- Net income of $18.2 million in 2024, compared to a net loss of $57.5 million in 2023
- Year-end cash position of $293 million, a $50 million increase from 2023
- Gross margin of 79% for 2024
- Adjusted EBITDA of $75 million, compared to -$4.4 million in 2023

The company saw significant growth across its test portfolio, with TissueCypher Barrett's Esophagus test reports increasing 130% and dermatologic tests up 17%. For 2025, Castle Biosciences anticipates generating between $280-295 million in total revenue.

Castle Biosciences (Nasdaq: CSTL), a healthcare company specializing in innovative diagnostic tests, has announced its upcoming participation in two major investor conferences in March 2025. The company's executive management will present at the Leerink Partners Global Healthcare Conference on March 10 at 1:40 p.m. Eastern time, and the KeyBanc Capital Markets Healthcare Forum (virtual) on March 18 at 11:15 a.m. Eastern time.

Both presentations will be accessible via live audio webcasts through Castle Biosciences' investor relations website, with replay options available after the events conclude.

Castle Biosciences (Nasdaq: CSTL) will present research data on its dermatologic gene expression profile (GEP) tests at the 2025 Winter Clinical Dermatology Conference in Hawaii. The company will showcase three posters focusing on different tests:

1. DecisionDx-Melanoma: Research on i31-SLNB's ability to identify melanoma patients with low risk of SLN positivity

2. DecisionDx-SCC: Study on using 40-GEP test to identify high-risk immunosuppressed patients with cutaneous squamous cell carcinoma

3. MyPath Melanoma: Research on enabling access to prognostic GEP testing for invasive melanoma

The posters will be displayed in the Queen's Ballroom 5-6 throughout the conference, with additional information available at Castle's exhibit hall booth.

Castle Biosciences (CSTL) has announced it will release its fourth quarter and full-year 2024 financial results after market close on Thursday, February 27, 2025. The company will host a conference call and webcast at 4:30 p.m. Eastern time to discuss the results.

Investors can access the live webcast through the company's Investor Relations page or directly via the provided link. For those joining by phone, the U.S. dial-in number is 1-833-470-1428 with access code 944585. International dial-in numbers are available through a separate link. A Q&A session will follow management's presentation, and a webcast replay will be available after the call.

Castle Biosciences (CSTL) will present data on its dermatologic portfolio at Maui Derm Hawaii 2025, with its DecisionDx-SCC poster selected as a top five finalist for the Akamai Award. The study, involving 1,408 patients with cutaneous squamous cell carcinoma (SCC), demonstrates improved risk stratification when combining test results with BWH staging.

The DecisionDx-SCC test showed significant metastasis prediction capabilities with three-year metastasis-free survival rates of 92.3% for Class 1, 81.3% for Class 2A, and 57.8% for Class 2B. Additional studies showed DecisionDx-Melanoma reduced unnecessary SLNB procedures by 25%, while MyPath Melanoma research revealed 24% diagnostic discordance among dermatopathologists for difficult-to-diagnose melanocytic lesions.

Castle Biosciences (CSTL) announced preliminary unaudited results for Q4 and full-year 2024, expecting to meet or exceed the top end of its guided revenue range of $320-330 million, representing at least 50% growth over 2023. The company delivered 96,071 total test reports in 2024, up 36% from 2023.

Q4 2024 saw 24,071 test reports delivered, a 19% increase year-over-year. Notable growth was seen in TissueCypher Barrett's Esophagus tests (+94%) and DecisionDx-SCC (+22%), while MyPath Melanoma and IDgenetix tests decreased by 14% and 5% respectively.

The company's year-end 2024 financial position shows approximately $293 million in combined cash, cash equivalents, and marketable investment securities. However, Novitas, a Medicare Administrative Contractor, finalized a non-coverage determination for the DecisionDx-SCC test on January 9, 2025.

Castle Biosciences (CSTL) has received assay approval from the New York State Department of Health for its TissueCypher Barrett's Esophagus test. This approval marks the completion of New York state approval for all of Castle's tests across its dermatology, gastroenterology and ophthalmology portfolios, as well as its clinical laboratories in Phoenix and Pittsburgh.

TissueCypher is the first AI-driven precision medicine test designed to predict progression risk from Barrett's esophagus (BE) to esophageal cancer. The test analyzes cancer-associated biomarkers and spatial biology features to identify molecular signatures of BE progression before visible tissue changes occur. This tool helps clinicians risk-stratify the estimated 5% of U.S. adults with BE, enabling risk-aligned surveillance or earlier interventions to prevent cancer development.

Castle Biosciences (CSTL) provided an update on its pipeline test for moderate-to-severe atopic dermatitis (AD) patients seeking systemic treatment. Preliminary data shows the test may identify patients likely to achieve a super response (90% or greater reduction in EASI score) to targeted therapies within three months.

The company has enrolled over 1,100 patients across 39 clinical study sites for its development and validation study. With an estimated 6 million U.S. patients diagnosed with moderate-to-severe AD annually, and approximately 760,000 seeking systemic treatment, the test aims to improve the current 'trial-and-error' approach, where 25% of patients discontinue initial therapy and 50% show persistent disease burden.

Assuming successful validation, Castle expects to launch the test by the end of 2025.

Castle Biosciences (CSTL) announced that its Board of Directors' Compensation Committee has granted restricted stock units (RSUs) to 135 employees, covering 173,542 shares of common stock. The grants were made under the Company's 2022 Inducement Plan, complying with Nasdaq Listing Rule 5635(c)(4). The RSUs have a four-year vesting schedule, with 25% vesting after the first year and the remaining balance vesting in three equal annual installments, contingent on continued employment.