This Under-the-Radar Healthcare Company Quietly Surged During the Pandemic
The leader in organ transplant diagnostics, CareDx (NASDAQ: CDNA), reported record first-quarter earnings on Wednesday. Total revenue was up 76% year over year to $67.4 million, a rise of 15% sequentially. Notably, that growth was not coming off a pandemic-induced sales lull; the company reported 51% revenue growth in 2020.
Sales of CareDx's blood test for detecting injuries to a transplanted heart or kidney increased 89% year over year to $59.3 million in Q1. The company provided about 33,000 tests for kidney and heart transplant surveillance in the quarter, up by approximately 121% from the prior-year quarter.
But the diagnostics specialist is not standing pat with its current markets. It continues to innovate, as evidenced by the more than 50 abstracts it presented at two major conferences this year.
Source Fool.com
