CareDx Announces Strong Q2 Results, Raises Full-Year Guidance
Shares of CareDx (NASDAQ: CDNA) rose on Friday following the company's announcement that it has raised its full-year revenue and earnings forecasts. The precision medicine diagnostics firm reported a 52% year-over-year increase in second-quarter revenue to $132 million, driven by strong demand for non-invasive tests used to monitor transplant patients. The Centers for Medicare & Medicaid Services (CMS) recently affirmed coverage for CareDx's surveillance testing across kidney, heart, and lung transplants. This development has contributed to favorable reimbursement dynamics and increased testing activity. The company also reported adjusted net income of $20 million or $0.37 per share, surpassing Wall Street expectations. CareDx raised its full-year revenue guidance from $447 million to $465 million to a new range of $490 million to $500 million and increased its adjusted EBITDA forecast as well.
Tickers: $CDNA
Topics: diagnostics financial_guidance healthcare transplant_monitoring