FRIENDSWOOD, Texas–(BUSINESS WIRE)–September 20, 2022–
During its Investor Day today, senior executives from Castle Biosciences, Inc. (Nasdaq: CSTL), a company that improves health through innovative tests that guide patient care, will present the fundamental guiding principles of the company: exceptional employees, continuous evolution and improvement, and customer and solution-focused – as well as three-year financial goals.
“The benchmarks presented today – exceptional employees, continuous growth and improvement, and customer and solution-focused – are firmly rooted in Castle’s mission, vision and values, and are the foundation of how we run our business,” said Derek Maetzold, President and CEO. officer of Castle Biosciences. “We expect these principles to drive continued value creation and enable us to continue to meet the changing needs of clinicians and their patients to improve shared decision-making.”
“With Castle’s strong balance sheet, targeted investments in our growth plans and an innovative testing portfolio, we believe we are well positioned to achieve our three-year financial goals, including projected total revenue of $255-330 million. dollars for the year ending December. December 31, 2025,” said Frank Stokes, CFO of Castle Biosciences. “Furthermore, we expect that we will continue to see strong revenue and gross margin growth, balanced by disciplined capital allocation, which should contribute to our positive expected net operating cash flow from ‘by 2025.”
Maetzold and Stokes will be joined by Castle executives and the following key opinion leaders to discuss the company’s dermatology, gastroenterology and mental health testing, as well as its inflammatory skin disease pipeline program : Robert Cook, Ph.D., Castle Biosciences Senior Vice President, Research and Development; Matthew Goldberg, MD, FAAD, Medical Director of Castle Biosciences; Craig Munroe, MD, medical director of gastroenterology at Castle Biosciences; and Brent Moody, MD, FACP, FAAD, dermatologist and Mohs surgeon at the Skin Cancer Surgery Center in Nashville, Tennessee.
The prepared remarks for Castle’s Investor Day will begin today at 4:00 p.m. Eastern Time, followed by a question and answer session. During the webcast, Castle will present a slide deck associated with the event, which was posted on the investor relations page of the company’s website (https://ir.castlebiosciences.com/overview/ default.aspx ).
To register for the virtual event, please visit the Events & Presentations section of the company’s Investor Relations page (https://ir.castlebiosciences.com/overview/default.aspx). A replay of the webcast will be available at the end of the broadcast.
About Castle Biosciences
Castle Biosciences (Nasdaq: CSTL) is a leading diagnostics company that improves health through innovative tests that guide patient care. The Company aims to transform disease management by putting people first: patients, clinicians, employees and investors.
Castle’s current portfolio includes tests for skin cancers, uveal melanoma, Barrett’s esophagus and mental health conditions. Additionally, the Company has active research and development programs for testing in other diseases of high clinical need, including its test in development to predict systemic therapeutic response in patients with moderate to severe psoriasis, atopic dermatitis and related conditions. To learn more, visit www.CastleBiosciences.com and connect with us on LinkedIn, Facebook, Twitter and Instagram.
DecisionDx-Melanoma, DecisionDx-CM SeqDecisionDx-SCC, MyPath Melanoma, DecisionDx DiffDx-Melanoma, DecisionDx-UM, DecisionDx-PRAME, DecisionDx-UM SeqTissueCypher and IDgenetix are registered trademarks of Castle Biosciences, Inc.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “sphere of security” created by these sections. These forward-looking statements include, but are not limited to, statements regarding: our expectations regarding (i) the principles discussed in this press release that drive continued value creation and enable us to continue to meet the evolving needs of clinicians and their patients and to help improve shared decision-making; (ii) projected total revenues of $255 million to $330 million for the fiscal year ending December 31,2025 and our positioning to achieve our three-year financial objectives; and (iii) our solid top line growth and gross margins, balanced by disciplined capital allocation, and their impact on our ability to achieve positive net operating cash flow by 2025. The words “ believe”, “expect”, “should”, “will” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. These forward-looking statements involve risks and uncertainties that could cause our actual results to differ materially from those contained in the forward-looking statements, including, without limitation: the accuracy of our assumptions and expectations underlying our three-year earnings and other financial goals, including, but not limited to, our assumptions or expectations regarding: (i) continued reimbursement of our DecisionDx-SCC test at the current rate and reimbursement of our other products and subsequent coverage decisions, (ii) our estimated total addressable markets for our products and product candidates and related expenses, capital requirements and potential additional funding needs, (iii) the anticipated cost, timing and success of our product candidates, and our plans for research, development and commercialization of new assays and (iv) our ability to successfully integrate new between catches, assets, products or technologies acquired through acquisitions; the results and conclusions of subsequent studies or trials may contradict the results and conclusions of earlier studies or trials; the actual application of our tests may not provide the above benefits to patients; and the risks set forth under “Risk Factors” in our Quarterly Report on Form 10-Q for the three months ended June 30, 2022, and in our other filings with the SEC. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update any forward-looking statements except as required by law.
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CONTACT: Investor Contact:
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KEYWORD: TEXAS UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: ONCOLOGY MENTAL HEALTH OTHER HEALTH OTHER SCIENCE SCIENCE BIOTECHNOLOGY
SOURCE: Castle Biosciences, Inc.
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PUBLISHED: 09/20/2022 16:05 / DISK: 09/20/2022 16:06