On 06 May 2020, Castle Biosciences, Inc. (NASDAQ: CSTL) stock observed trading -27.61% off 52-week high price. On the other end, the stock has been noted 88.66% away from low price over the last 52-weeks. The stock disclosed a move of 0.88% away from 50 day moving average and 9.57% away from 200 day moving average. Moving closer, we can see that shares have been trading -1.47% off 20-day moving average.
Castle Biosciences, Inc. (CSTL) recently reported its financial results for the fourth quarter and twelve months ended December 31, 2019.
“The Castle Biosciences’ team delivered very strong results in 2019, with growth in test report volume and revenue, continued evidence development for DecisionDx®-Melanoma and DecisionDx®-UM tests and advancement of our pipeline products,” stated Derek Maetzold, president and chief executive officer of Castle Biosciences. “Our team also delivered on two commercial expansions, with all 32 outside sales territories filled as of December 2019, establishing a solid base for execution of our 2020 plan.
“We presented data on our late-stage pipeline test, DecisionDx®-SCC, for use in patients diagnosed with high-risk cutaneous squamous cell carcinoma (SCC), as defined by the National Comprehensive Cancer Network (NCCN). The data demonstrated the ability of the test to stratify patients presenting as high-risk into those who are truly high-risk patients and those who are lower-risk patients. DecisionDx-SCC is designed to aid physicians in the development of appropriate, risk-aligned treatment plans. Our DecisionDx-SCC test remains on track for predictable commercial launch in the second half of 2020.
Fourth Quarter Ended December 31, 2019, Financial Highlights
- Revenue was $17.6M in the fourth quarter of 2019, contrast to $11.4M in the fourth quarter of 2018.
- Adjusted revenue was $17.6M in the fourth quarter of 2019, contrast to $6.2M in the fourth quarter of 2018.
- Delivered 4,480 DecisionDx-Melanoma test reports in the fourth quarter of 2019, which represents 37% growth contrast to the 3,270 reports delivered during the fourth quarter of 2018.
- Delivered 434 DecisionDx-UM test reports in the fourth quarter of 2019, which represents 13% growth contrast to 385 reports during the fourth quarter of 2018.
- Gross margin in the fourth quarter of 2019 was 89%.
- Operating cash flow was $4.5M in the fourth quarter of 2019, contrast to $(3.2)M in the fourth quarter of 2018.
Twelve Months Ended December 31, 2019, Financial Highlights
- Revenue was $51.9M for the full year 2019, contrast to $22.8M in 2018.
- Delivered 15,529 DecisionDx-Melanoma test reports for the full year 2019, contrast to 12,032 reports during the full year 2018, representing growth of 29%. In 2019, new ordering clinicians for DecisionDx-Melanoma increased 24% contrast to 2018. Additionally, total ordering clinicians in 2019 for DecisionDx-Melanoma increased 32% to 3,927, year-over-year.
- Delivered 1,526 DecisionDx-UM test reports for the full year 2019, contrast to 1,413 reports during the full year 2018, representing growth of 8%.
- Gross margin for the full year 2019 was 86%.
- Operating cash flow was $7.0M for the full year 2019, contrast to $(12.3)M in 2018.
Cash and Cash Equivalents
As of December 31, 2019, the Company’s cash and cash equivalents totaled $99M, and the outstanding principal balance on the Company’s bank term loan was $26.7M.
The USA based company Castle Biosciences, Inc. moved with change of 1.55% to $28.79 with the total traded volume of 145189 shares in recent session versus to an average volume of 161.95K. CSTL’s shares are at -6.89% for the quarter and is now at -16.24% since this point in 2018. There are 18.78M shares outstanding and 11.13M shares are floated in market.