CareDx, Inc Provides Earnings Guidance for the Fourth Quarter and Year Ended December 31, 2018
January 07, 2019 at 08:00 am
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CareDx Inc. Provides earnings guidance for the fourth quarter and year ended December 31, 2018. For the quarter, the company reported revenue is expected to be between $23.2 million and $23.5 million, an increase of 85% to 88% compared with $12.5 million in the fourth quarter of 2017. Testing revenue for the quarter is expected to be between $18.5 million to $18.8 million, compared with $8.6 million in the same period in 2017. Product revenue is expected to be $4.6 million, compared to $3.7 million in the same period in 2017.
Revenue for the full year expected is to be between $76.2 million and $76.5 million, an increase of approximately 58% compared with $48.3 million in 2017. Testing revenue for the year ended December 31, 2018 is expected to be between $59.9 million to $60.2 million, compared with $33.1 million in 2017. Product revenue for the full year 2018 is expected to be $15.7 million, compared to $14.6 million in 2017.
CareDx, Inc. is a precision medicine solutions company. The Company is focused on the discovery, development, and commercialization of clinically differentiated, diagnostic solutions for transplant patients and caregivers. The Company offers testing services, products, and patient and digital solutions along the pre- and post-transplant patient journey and is a provider of genomics-based information for transplant patients. Its commercially available testing services consist of AlloSure Kidney, a donor-derived cell-free DNA (dd-cfDNA) solution for kidney transplant patients; AlloMap Heart, a gene expression solution for heart transplant patients; AlloSure Heart, a dd-cfDNA solution for heart transplant patients, and AlloSure Lung, a dd-cfDNA solution for lung transplant patients. The Companyâs product portfolio includes AlloSeq Tx, QTYPE, Olerup SSP, AlloSeq HCT and AlloSeq cfDNA. It develops and provides diagnostic surveillance testing services for various transplant recipients.