DermTech, Inc. Stock Price, News & Analysis

DermTech, a leader in precision dermatology, will host a conference call and webcast on March 2, 2023, at 5:00 p.m. ET to discuss its fourth-quarter 2022 operating and financial results. A press release detailing these results will be issued prior to the call. Interested participants can register for the conference call and webcast through provided links. The company focuses on non-invasive genomic analysis for early skin cancer detection and is working on products for inflammatory diseases. For more information, visit DermTech’s website.

DermTech, a leader in non-invasive skin genomics, has received a positive coverage recommendation from the U.S. General Services Administration for its foundational assay in the DermTech Melanoma Test (DMT). This recommendation will make the test accessible to over 9 million Veterans enrolled in the Veterans Health Administration (VHA), the largest integrated healthcare system in the U.S. The DMT features an impressive 99% negative predictive value, enhancing melanoma detection. DermTech's covered lives now total approximately 124 million, including Medicare and commercial payers, positioning the company for potential growth in the precision dermatology sector.

DermTech, Inc. (NASDAQ: DMTK) has granted restricted stock units (RSUs) to four new employees, totaling 44,669 shares under its 2022 Inducement Equity Incentive Plan. The Compensation Committee approved this grant on January 24, 2023. The RSUs will vest over four years, with 25% becoming available on December 5, 2023, and the remaining shares vesting quarterly until December 5, 2026, contingent on continued employment. DermTech aims to advance precision dermatology through its non-invasive skin genomics platform, enhancing early skin cancer detection and addressing inflammatory diseases.

DermTech (NASDAQ: DMTK) announced new favorable coverage policies from a Blues plan in Hawaii and a not-for-profit health plan in New York, enhancing access to its non-invasive melanoma detection test, the DermTech Melanoma Test (DMT). These policies follow an independent assessment by a major laboratory benefits manager, covering approximately 1.2 million members. The DMT boasts over 99% negative predictive value, indicating high accuracy in melanoma detection. DermTech's total covered lives in the U.S. now reach about 115 million, comprising 68 million for Medicare and 47 million for commercial payers.

DermTech, Inc. (NASDAQ: DMTK) announced that the Defense Health Agency’s Lab Joint Working Group has recommended its foundational assay for the DermTech Melanoma Test (DMT) for TRICARE coverage. This enables around 9 million TRICARE members to access the non-invasive DMT, which boasts a greater than 99% negative predictive value for melanoma detection. DermTech's total covered lives in the U.S. now reach approximately 113 million. The company aims to improve patient care and reduce healthcare costs with this innovative test.

DermTech, Inc. (NASDAQ: DMTK), specializing in precision dermatology, has secured favorable coverage policies from four Blue Cross Blue Shield affiliates, enhancing access to its non-invasive DermTech Melanoma Test (DMT). These policies, resulting from an independent assessment, cover 3.8 million members across North Carolina, South Carolina, Louisiana, and Kansas City, along with an additional 4.5 million members in Michigan. The DMT boasts over 99% negative predictive value, marking a significant advance in melanoma detection.

DermTech, a leader in precision dermatology, announced the grant of restricted stock units to 17 new employees. These units, totaling 79,096 shares, were approved by the Compensation Committee and are part of the 2022 Inducement Equity Incentive Plan. Vesting occurs over four years, with 25% vesting on December 5, 2023, and the rest in quarterly installments by December 5, 2026. This initiative is aimed at attracting talent and aligns with Nasdaq Listing Rule 5635(c)(4).

DermTech, Inc. (NASDAQ: DMTK) has formed an agreement with Sonora Quest Laboratories to enhance access to its non-invasive DermTech Melanoma Test in Arizona. The test, using Smart Stickers™, boasts over 99% reliability in ruling out melanoma, allowing patients to detect the disease early, significantly improving survival rates. This partnership will reduce unnecessary biopsies and healthcare costs while increasing the test's availability through Sonora Quest’s extensive provider network.

DermTech (NASDAQ: DMTK) reported its third-quarter 2022 financial results, showcasing a 54% year-over-year growth in billable sample volume, totaling approximately 18,080. Assay revenue reached $3.4 million, a 16% increase from Q3 2021. However, total revenue increased only 18% to $3.6 million, and the company predicts finishing 2022 below previous guidance due to commercial payer challenges. The net loss widened to $28.8 million or ($0.96) per share, up from $20.1 million in Q3 2021. DermTech aims to improve payer relationships and expects at least $13 million in assay revenue for full-year 2022.