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DermTech Inc - DMTK STOCK NEWS

Welcome to our dedicated news page for DermTech (Ticker: DMTK), a resource for investors and traders seeking the latest updates and insights on DermTech.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect DermTech's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of DermTech's position in the market.

News
DermTech to Explore Strategic Alternatives and Implement Restructuring Plan
Rhea-AI Summary
DermTech, Inc. (NASDAQ: DMTK) has announced plans to explore strategic alternatives to maximize stockholder value, including potential acquisitions, mergers, or sales of assets. The company is also implementing a restructuring plan to reduce expenses, resulting in a significant workforce reduction of approximately 56%. DermTech will not host a first-quarter 2024 earnings conference call due to these developments.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
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News
DermTech Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Summary
DermTech, Inc. (NASDAQ: DMTK) granted 26,240 restricted stock units to new employees under its 2022 Inducement Plan. The units will vest over 4 years, with 25% vesting in 2025 and the remaining 75% in equal quarterly installments until 2028.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.32%
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none
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News
DermTech Presents Research Abstracts at the 2024 American Academy of Dermatology (AAD) Annual Meeting and New Research Published in the Journal of Investigative Dermatology
Rhea-AI Summary
DermTech, Inc. (DMTK) presents groundbreaking research at the 2024 AAD Annual Meeting, showcasing the ability of non-invasive gene expression analyses to rule out melanoma in patients with Fitzpatrick skin types IV-VI and detecting somatic mutations in healthy-appearing sun-exposed skin as an indicator of increased skin cancer risk.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.28%
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none
News
DermTech Reports Fourth-Quarter 2023 Financial Results
Rhea-AI Summary
DermTech, Inc. (NASDAQ: DMTK) reported strong financial results for the fourth quarter of 2023, with a 38% increase in test revenue and a 31% increase in total revenue. The average selling price (ASP) for the DermTech Melanoma Test (DMT) rose by 55% year-over-year. The company plans to focus on revenue growth in 2024 and has achieved significant cost reductions. Despite a decline in billable sample volume, DermTech remains optimistic about its technology's impact on melanoma evaluation and healthcare costs.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-32.03%
Tags
earnings
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News
DermTech Announces Release Date for Fourth-quarter 2023 Financial Results
Rhea-AI Summary
DermTech, Inc. (NASDAQ: DMTK) will host a conference call on February 29, 2024, to discuss its fourth-quarter 2023 operating and financial results. Participants can register to ask questions or listen to the webcast.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.65%
Tags
earnings
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News
DermTech Announces Additional Restructuring Actions to Focus on Revenue Growth and Streamline Operations
Rhea-AI Summary
DermTech, Inc. (NASDAQ: DMTK) announced additional restructuring actions to prioritize revenue growth, streamline operations, and reduce overall operating expenses. The company expects to achieve approximately $40 million in total operating expense reductions compared to fiscal 2022. This will result in a workforce reduction of approximately 30 employees, or approximately 15 percent of DermTech’s workforce. The CEO, Bret Christensen, emphasized the commitment to rigorous capital allocation in support of revenue growth and finding additional operating efficiencies in 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.5%
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none
News
DermTech Announces Positive Topline Results From a Study Evaluating the DermTech Melanoma Test (DMT) Across All Skin Types
Rhea-AI Summary
DermTech, Inc. (NASDAQ: DMTK) reported positive results from a study demonstrating the effectiveness of the DermTech Melanoma Test (DMT) in ruling out melanoma for all skin types. The study showed a negative predictive value (NPV) higher than 99% regardless of skin type, indicating the test's ability to non-invasively rule out melanoma in patients with suspicious pigmented lesions.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.81%
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clinical trial
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News
DermTech Simplifies the DermTech Melanoma Test (DMT) by Discontinuing the Optional TERT Add-on Assay
Rhea-AI Summary
DermTech, Inc. announces discontinuation of optional TERT promoter mutation testing for its DermTech Melanoma Test (DMT) effective March 1, 2024. Multiple studies, including the recently completed Trust 2 Study, confirmed the DMT's high negative predictive value (NPV) of 99% or higher. The TERT promoter mutation assay was found to have limited impact on decision-making when evaluating pigmented lesions for melanoma. The DMT will now consist of the foundational gene expression assay for LINC00518 and PRAME, maintaining its high NPV.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-8.45%
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none
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News
DermTech Announces Positive Topline Results From Trust 2 Study Evaluating the DermTech Melanoma Test (DMT)
Rhea-AI Summary
DermTech, Inc. (DMTK) reported positive topline results from its Trust 2 Study, demonstrating the powerful clinical utility of the DermTech Melanoma Test (DMT) as a rule-out test for melanoma. The study showed a negative predictive value (NPV) of higher than 99%, reaffirming the DMT's real-world clinical utility and providing actionable genomic information for clinicians and patients. The study also indicated that the DMT may help reduce healthcare costs and support re-engagement with payers for reimbursement.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
13.48%
Tags
clinical trial
News
DermTech Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Summary
DermTech, Inc. (NASDAQ: DMTK) granted 15 new employees restricted stock units representing the right to receive up to 56,230 shares of the Company’s common stock under its 2022 Inducement Equity Incentive Plan. The units will vest over 4 years, subject to continued employment, in accordance with Nasdaq Listing Rule 5635(c)(4).
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
8.39%
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none
Stock DMTK logo
DermTech Inc

Nasdaq:DMTK

DMTK Rankings

#5071 Ranked by Market Cap
#4988 Ranked by Stock Gains
N/A Ranked by Dividends

DMTK Stock Data

21.54M
33.20M
4.24%
21.26%
9.14%
Diagnostic Imaging Centers
Health Care and Social Assistance
Link
United States
San Diego

About DMTK

dermtech is a molecular diagnostic dermatology company focused on developing non-invasive gene expression tests to aid the clinical diagnosis of skin cancer and other skin conditions. dermtech operates a clia (clinical laboratory improvement amendments) licensed laboratory located at the company’s la jolla, ca headquarters. dermtech’s technology allows for the analysis of skin biopsy samples collected non-invasively using an adhesive patch. current dermatologic diagnosis is primarily based on subjective visual pattern recognition that is prone to error and results in a substantial number of unnecessary surgical procedures. dermtech’s pigmented lesion assay (pla) provides physicians with a non-invasive option for the biopsy of clinically atypical pigmented lesions using an adhesive patch rather than a scalpel. dermtech provides highly accurate, objective information to the physician to improve patient care and comfort and reduce costs. the pla is used for the detection of melanoma in at