CareDx gains on Testing Services advances

 First Quarter 2024 Highlights

• Reported first quarter revenue of $72.0 million.
• Revenue for Testing Services of $53.8 million, an increase of 15% as compared to the fourth quarter 2023.
• Grew testing services patients results for the third consecutive quarter to approximately 42,000, an increase of 6% as compared to the fourth quarter 2023.
• Over 30 oral presentations, posters and two symposia highlighting CareDx’s scientific advancements in heart and lung transplantation presented at the International Society for Heart and Lung Transplantation (ISHLT).
• SHORE data presented at ISHLT demonstrated that HeartCare® multimodal testing outperforms donor-derived cell-free DNA (dd-cfDNA) testing alone in identifying allograft rejection.
• Expanded payer coverage by 14 million lives nationwide.
• Reported first quarter revenue of $9.6 million for Patient and Digital Solutions and $8.6 million for Products, representing year-over-year growth of 12% and 25%, respectively.
• Ended the quarter with cash, cash equivalents, and marketable securities of approximately $216 million, with no debt.

“We set a new baseline in our Testing Services business in the second half of 2023 and are back to delivering sequential growth. I am pleased with the team’s strong performance across all businesses this quarter,” said John W. Hanna, CareDx President and CEO. “CareDx is the leader in transplant patient care and our dedication to serving patients will continue to be our catalyst for growth.”

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