Skin Cancer Diagnostics Company Files for $57 Million IPO

June 27, 2019

Castle Biosciences Filed the paperwork on 6/26/19 for their $57 Million IPO. The commercial stage company provides diagnostic and prognostic test for dermatologic cancers. Castle intends to tradeon NASDAQ under the symbol, “CSTL.”

Castle provides five tests for dermatologic cancers – two for cutaneous melanoma and three for uveal melanoma. Their non-invasive products utilize proprietary algorithms to provide an assessment of a patient’s specific risk of metastasis or recurrence of their cancer, allowing physicians to identify patients who are likely to benefit from an escalation of care as well as those who may avoid unnecessary medical and surgical interventions.

In their prospectus, the company says it has processed more than 40,000 samples since commercial launch. Annual revenue increased from $13.8 million in 2017 to $22.8 million in 2018.


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