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CareDx Preliminary Q3 Revenues Rise 23 Percent

NEW YORK – CareDx said Tuesday that it expects a 23 percent year-over-year rise in revenues for Q3, to between $82 million and $83 million.

The Brisbane, California-based transplant molecular diagnostics company anticipates testing service revenue in the range of $60 million to $61 million, up approximately 26 percent from $47.8 million in the same quarter last year. Testing volume grew approximately 16 percent year over year, from 38,400 AlloSure and AlloMap results delivered in Q3 2023 to 44,600 this quarter. 

Patient and digital solutions revenue is expected to increase about 20 percent, to approximately $11.9 million, from $9.9 million in the same quarter last year. The firm anticipates product revenues of approximately $10.2 million, up 7 percent from last year’s $9.5 million. 

As of Sept. 30, CareDx had approximately $240 million in cash, cash equivalents, and marketable securities. 

"We are pleased to report another quarter of growth across all our lines of business. Our performance continues to be strong as we head into the fourth quarter," John Hanna, president and CEO of CareDx, said in a statement.

In Tuesday morning trading on the Nasdaq, CareDx's shares were down 18 percent at $25.67.