CareDX Posts Financials from Q1 2017

- June 9th, 2017

CareDx released their financial results for the first quarter of 2017.

CareDx (NASDAQ:CDNA) released their financial results for the first quarter of 2017.
As quoted in the press release:

“We are very pleased with our progress towards AlloSure reimbursement and look forward to soon being able to provide the first and only non-invasive test that uses donor-derived cell free DNA to directly measure organ health and identify the probability of active transplant rejection,” said Peter Maag, CareDx President and Chief Executive Officer.  “AlloMap test volume growth has continued, reflecting our reach into the transplant center community and patients.”

First Quarter 2017 Financial Results
Revenues for the three months ended March 31, 2017 were $11.6 million compared with $6.6 million in the first quarter of 2016.  Revenues from AlloMap tests for the three months ended March 31, 2017 were $7.9 million compared with $6.5 million in the first quarter of 2016. Olerup revenues in the three months ended March 31, 2017 were $3.7 million.

For the first quarter of 2017, net loss was $5.6 million, compared to net loss of $9.8 million in the first quarter of 2016.  Basic and diluted net loss per share was $0.26 in the first quarter of 2017, compared to basic and diluted net loss per share of $0.81 in the first quarter of 2016.

Click here to read the full press release.

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