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Caredx, Inc. (CDNA) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Caredx, Inc.

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CIK: 1217234 Ticker: CDNA

Exhibit 99.1

 

LOGO

CareDx Reports Fourth Quarter and FY 2018 Results

AlloSure launch momentum drives 88% fourth quarter revenue growth

BRISBANE, Calif., March 6, 2019 (GLOBE NEWSWIRE) — CareDx, Inc. (NASDAQ: CDNA), a molecular diagnostics company focused on the discovery, development and commercialization of clinically differentiated, high-value diagnostic solutions for transplant patients, today reported financial results for the fourth quarter and full year ended December 31, 2018.

Recent highlights:

 

  •  

Continued the acceleration of AlloSure penetration

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In the fourth quarter of 2018, 100 U.S. transplant centers provided 4,575 AlloSure tests to approximately 3,400 patients

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Continued progress in AlloSure Registry (K-OAR) enrollment, with 47 centers initiated and 748 patients enrolled as of December 31, 2018

 

  •  

Achieved total revenue of $23.5 million for the fourth quarter of 2018, increasing 88% year-over-year

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Testing services revenue of $18.9 million, with 4,575 AlloSure and 4,057 AlloMap patient results provided

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Product revenue of $4.6 million

 

  •  

Generated a net loss of $3.8 million, positive adjusted EBITDA of $0.8 million and positive net cash from operations of $2.0 million in the fourth quarter of 2018

 

  •  

Strengthened balance sheet through public equity offering and repayment of all outstanding debt

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Cash and cash equivalents of $64.6 million at December 31, 2018

“The CareDx team delivered another consecutive record quarter, including 88% year-over-year revenue growth. We achieved positive adjusted EBITDA and operating cash flow results for the second straight quarter. We strengthened our first mover advantage as the strong clinical value of AlloSure continues to resonate with the transplant community and, just over a year into the launch, we are 3% penetrated into this patient population,” said Peter Maag, CareDx Chief Executive Officer. “CareDx is making tremendous strides fortifying its position as the leading provider of genomics-based information in transplantation, with the goal to leverage these insights to improve long-term patient outcomes. I am very proud of CareDx’s accomplishments in 2018, which sets the stage for another year of strong growth in 2019 and beyond.”

The following information was filed by Caredx, Inc. (CDNA) on Wednesday, March 6, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Caredx, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows (Parenthetical)
Consolidated Statements Of Comprehensive Loss
Consolidated Statements Of Convertible Preferred Stock And Stockholders' Equity (Deficit)
Consolidated Statements Of Convertible Preferred Stock And Stockholders' Equity (Deficit) (Parenthetical)
Consolidated Statements Of Operations
401(K) Plan
401(K) Plan - Additional Information (Detail)
Balance Sheet Components
Balance Sheet Components (Tables)
Balance Sheet Components - Additional Information (Detail)
Balance Sheet Components - Components Of Accrued Expenses And Other Current Liabilities (Detail)
Balance Sheet Components - Components Of Property And Equipment (Detail)
Balance Sheet Components - Summary Of Inventory (Detail)
Business Combinations And Asset Acquisitions
Business Combinations And Asset Acquisitions (Tables)
Business Combinations And Asset Acquisitions - Acquisition Of Allenex - Schedule Of Pro Forma Results Of Operations (Detail)
Business Combinations And Asset Acquisitions - Additional Information (Detail)
Business Combinations And Asset Acquisitions - Summary Of Fair Values Of Assets Acquired And Liabilities Assumed As Of Acquisition Date (Detail)
Business Combinations And Asset Acquistions - Summary Of Fair Values Of Assets Acquired And Liabilities Assumed As Of Acquisition Date (Detail)
Business Combinations And Asset Acquistions - Summary Of Identified Intangible Assets Acquired At Acquisition Date (Detail)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Additional Information (Detail)
Commitments And Contingencies - Future Minimum Lease Commitments Under Operating And Capital Leases (Detail)
Debt
Debt (Tables)
Debt - Additional Information (Detail)
Debt - Carrying Value Of Debt On Issuance Date (Detail)
Debt - Schedule Of Debt (Detail)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Additional Information (Detail)
Fair Value Measurements - Fair Value Of Financial Assets And Liabilities Measured On Recurring Basis (Detail)
Fair Value Measurements - Summary Of Common Stock Warrant And Derivative Liability Valuation Assumptions (Detail)
Fair Value Measurements - Summary Of Issuances, Changes In Fair Value And Classifications Of Level 3 Financial Instruments (Detail)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Additional Information (Detail)
Goodwill And Intangible Assets - Summary Of Estimated Future Amortization Expense Of Intangible Assets (Detail)
Goodwill And Intangible Assets - Summary Of Goodwill (Detail)
Goodwill And Intangible Assets - Summary Of Intangible Assets (Detail)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Detail)
Income Taxes - Components Of Provision For (Benefit From) Income Taxes (Detail)
Income Taxes - Schedule Of Deferred Income Tax Assets And Liabilities (Detail)
Income Taxes - Schedule Of Provision For Tax Differed From Amounts Computed By Applying U.S. Federal Income Tax Rate To Loss Before Income (Detail)
Income Taxes - Schedule Of Reconciliation Of Unrecognized Tax Benefits (Detail)
Income Taxes - Summary Of Loss Before Income Taxes (Detail)
Licensing And Other Revenue
Licensing And Other Revenue - Additional Information (Detail)
Net Loss Per Share Attributable To Caredx, Inc
Net Loss Per Share Attributable To Caredx, Inc (Tables)
Net Loss Per Share Attributable To Caredx, Inc - Additional Information (Detail)
Net Loss Per Share Attributable To Caredx, Inc - Computation Of Basic And Diluted Net Loss Per Share (Detail)
Net Loss Per Share Attributable To Caredx, Inc - Potentially Dilutive Securities Excluded From Diluted Net Loss Per Share (Detail)
Organization And Description Of Business
Organization And Description Of Business (Policies)
Organization And Description Of Business - Additional Information (Detail)
Segment Reporting
Segment Reporting (Tables)
Segment Reporting - Additional Information (Detail)
Segment Reporting - Long-Lived Assets Consisting Of Property And Equipment, Net By Geographic Regions (Detail)
Segment Reporting - Reportable Revenues By Geographic Regions (Detail)
Selected Quarterly Financial Data
Selected Quarterly Financial Data (Tables)
Selected Quarterly Financial Data - Summary Of Selected Quarterly Financial Data (Detail)
Stock Incentive Plans
Stock Incentive Plans (Tables)
Stock Incentive Plans - Additional Information (Detail)
Stock Incentive Plans - Summary Of Expense Relating To Employee And Nonemployee Stock-Based Payment Awards From Stock Options And Rsus (Detail)
Stock Incentive Plans - Summary Of Options Outstanding Vested And Expected To Vest (Detail)
Stock Incentive Plans - Summary Of Options, Rsus Activity Under 2014 Equity Incentive Plan And 2016 Inducement Plan And Related Information (Detail)
Stock Incentive Plans - Weighted-Average Assumptions Used To Estimated Fair Value Of Share-Based Awards (Detail)
Stockholders' Equity
Stockholders' Equity - Additional Information (Detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Additional Information (Detail)
Summary Of Significant Accounting Policies - Additional Information - Concentration Of Credit Risk (Detail)
Summary Of Significant Accounting Policies - Summary Of Impact Of Asc 606 Adoption On Account Receivable (Detail)
Summary Of Significant Accounting Policies - Summary Of Impact To Statement Of Operations In Accordance With New Revenue Standard Requirements (Detail)
Warrants
Warrants (Tables)
Warrants - Additional Information (Detail)
Warrants - Outstanding Warrants To Purchase Common Stock Warrants (Detail)
Warrants - Outstanding Warrants To Purchase Common Stock Warrants (Parenthetical) (Detail)
Ticker: CDNA
CIK: 1217234
Form Type: 10-K Annual Report
Accession Number: 0001564590-19-006533
Submitted to the SEC: Wed Mar 06 2019 12:22:47 PM EST
Accepted by the SEC: Wed Mar 06 2019
Period: Monday, December 31, 2018
Industry: Medical Laboratories

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