heart transplant

The company said it had a large uptick in testing revenues during the quarter, including for its AlloSure kidney transplant test, which was launched in October.

The firm said it expects fourth quarter revenues of $12.3 million to $12.5 million, a year-over-year increase of 13 percent to 15 percent.

Though revenues from its non-invasive heart transplant rejection test AlloMap fell about 5 percent, CareDx is already being reimbursed by Medicare for its new AlloSure test.

The company said revenues from its non-invasive heart transplant rejection test AlloMap rose about 16 percent year over year.

The company said revenues for the quarter and full-year 2016 included sales of Olerup HLA typing products, which CareDx got through its acquisition of Allenex.

The company also said it has closed a new $25 million debt facility, and will use the proceeds to retire outstanding debt and bolster the launch of AlloSure.

The firm missed analyst estimates for revenues and loss per share, citing a continued investment in its AlloSure NGS test for the wider-than-expected loss.

The company said sales of its AlloMap molecular diagnostic test were negatively affected during the quarter because of reduced collections from an external vendor.

The firm believes the diagnostics industry has not done a good job of communicating the value of medical tests to payors.

By scrutinizing more than 30,000 samples over dozens of studies, the team is exploring the genetics of transplantation complications.


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