Skip to main content

CareDx Reports Preliminary Q4 Revenue Growth

NEW YORK (GenomeWeb) – CareDx said today that it expects to report fourth quarter revenues of $12.3 million to $12.5 million, an increase of 13 percent to 15 percent over Q4 2016 revenues of $10.9 million.

Testing revenues for the quarter are expected to be $8.4 million to $8.6 million compared with $7.4 million in the same period in 2016, and product revenues are expected to be $3.7 million compared to $3.5 million in Q4 2016.

For full year 2017, the firm expects to report revenues of $48.1 million to $48.3 million, an increase of 18 percent to 19 percent from revenues of $40.6 million in 2016. Testing revenues for the year are expected to be $32.9 million to $33.1 million, compared with $29.7 million in 2016. Product revenues for 2017 are expected to be $14.6 million, compared with $10.7 million in 2016.  

CareDx launched its AlloSure non-invasive organ transplant diagnostic test on Oct. 9, 2017, and reported that 32 transplant centers in the US are providing the test for patients as of the end of 2017. Preliminary AlloSure testing revenues are expected to be $500,000, representing 282 test results provided to kidney transplant patients.

Testing revenues from the firm's AlloMap heart transplant diagnostic test are expected to be $7.9 million to $8.1 million in Q4, with quarterly test volume increasing 8 percent year-over-year to 3,840 tests.

"2017 was a banner year for CareDx. We received Medicare reimbursement for and launched AlloSure, plus the PAMA-related reimbursement increase for our AlloMap test became effective on Jan. 1, 2018," CareDx President and CEO Peter Maag said in a statement. "We are very pleased with the initial AlloSure interest and traction. With the AlloSure launch fully underway and our portfolio of core transplantation products delivering steady growth, we believe CareDx is positioned for accelerated growth in 2018 and profitability in the second half of the year."

CareDx's shares fell nearly 3 percent to $7.05 in morning trading on the Nasdaq.