DermTech, Inc. Stock Price, News & Analysis

DermTech, a leader in precision dermatology, announced a new agreement with a community-focused health plan in New York. This agreement complements a previous favorable coverage policy effective April 15, 2023, enhancing access to the DermTech Melanoma Test (DMT) for approximately 400,000 members. The DMT has over a 99% negative predictive value, improving melanoma detection. DermTech's total covered lives in the U.S. now stand at around 126 million, including 68 million for Medicare and 58 million for commercial payers. Senior director Chris Murphy emphasized that the relationship with the payer aims to improve patient care and reduce healthcare costs.

DermTech, Inc. (NASDAQ: DMTK) will host a conference call and webcast on May 4, 2023, at 5:00 p.m. ET to discuss its first-quarter 2023 operating and financial results. An earnings press release will be issued prior to the call. Interested participants can register for Q&A or listen via webcast. DermTech focuses on precision dermatology through a non-invasive skin genomics platform, aiming to enhance individualized care. The company is dedicated to early skin cancer detection and developing solutions for inflammatory diseases. For more details, visit DermTech's website.

Forward-looking statements are included, emphasizing potential future risks and uncertainties affecting performance and market opportunities.

DermTech (NASDAQ: DMTK) has announced a contract with a major Blues plan in North Carolina, enhancing access to its DermTech Melanoma Test (DMT) for over 3.8 million members. This agreement builds on a favorable coverage policy that began on March 15, 2023, allowing the test to be available as an in-network benefit.

The DMT offers a non-invasive method for enhanced melanoma detection, boasting a negative predictive value exceeding 99%. With this contract, DermTech aims to improve patient care and reduce healthcare costs, recognizing the value of its clinical and economic data among payers. Overall, DermTech has around 126 million covered lives in the U.S., including 68 million for Medicare and 58 million for commercial payers.

DermTech announced the grant of restricted stock units (RSUs) to eight new employees, representing the right to receive up to 40,510 shares of common stock. This decision, effective March 28, 2023, was made under the 2022 Inducement Equity Incentive Plan. The RSUs will vest over four years, with 25% vesting on March 5, 2024 and the remaining 75% vesting quarterly until March 5, 2027, contingent on continued employment. DermTech focuses on precision dermatology using non-invasive genomic analysis to improve skin cancer detection and treatment.

DermTech (NASDAQ: DMTK) is participating in the 2023 American Academy of Dermatology Annual Meeting from March 17-21 in New Orleans. The company will present four new posters related to basal cell carcinoma diagnostics and melanoma detection. Key presentations include non-invasive RNA detection and performance of the pigmented lesion assay on higher Fitzpatrick Skin Types. DermTech will showcase its innovative melanoma test, which boasts a negative predictive value over 99%, at booth #2839. The company also commits to donating $100 to AAD Skin Cancer Awareness for each badge scanned during the event. DermTech aims to enhance awareness and access to melanoma screening solutions.

DermTech has forged a significant agreement with a Blues plan in Arizona, granting access to the DermTech Melanoma Test (DMT) for approximately 1.9 million members. This innovative, non-invasive assay enhances melanoma detection, boasting a greater than 99% negative predictive value (NPV). With this deal, DermTech’s total covered lives in the U.S. climbs to around 126 million, including 68 million for Medicare and 58 million for commercial payers. The company is dedicated to precision dermatology, focusing on improving patient outcomes while aiming to reduce healthcare costs.

DermTech (NASDAQ: DMTK), a leader in precision dermatology, announced its participation in two investor conferences in March 2023. The company will present at the TD Cowen 43rd Annual Health Care Conference in Boston on March 8 at 1:30 p.m. ET and the Oppenheimer 33rd Annual Healthcare Conference virtually on March 14 at 10:00 a.m. ET. Live webcasts will be available on DermTech's investor relations website, with replays accessible for 90 days. DermTech focuses on providing non-invasive precision dermatology solutions for early skin cancer detection and tailored treatment for inflammatory diseases.