DermTech, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 03, 2023 at 04:37 pm EDT
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DermTech, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 0.415 million compared to USD 0.086 million a year ago. Revenue was USD 3.98 million compared to USD 4.23 million a year ago. Net loss was USD 31.36 million compared to USD 29.58 million a year ago. Basic loss per share from continuing operations was USD 0.99 compared to USD 0.99 a year ago. Diluted loss per share from continuing operations was USD 0.99 compared to USD 0.99 a year ago.
For the six months, sales was USD 0.467 million compared to USD 0.286 million a year ago. Revenue was USD 7.46 million compared to USD 7.95 million a year ago. Net loss was USD 62.63 million compared to USD 59.69 million a year ago. Basic loss per share from continuing operations was USD 2.01 compared to USD 2 a year ago. Diluted loss per share from continuing operations was USD 2.01 compared to USD 2 a year ago.
DermTech, Inc. is a molecular diagnostic company. The Company is engaged in developing and marketing non-invasive genomics tests to aid in the diagnosis and management of melanoma. Its technology enhances evaluation of lesions suspicious for melanoma using non-invasive sample collection and detecting genomic markers associated with melanoma to identify higher risk lesions or rule out melanoma with a 99% or higher negative predictive value (NPV). It offers DermTech Melanoma Test (the DMT), which is a non-invasive way to enhance evaluation of pigmented lesions suspicious for melanoma. Its genomics platform has been designed to work with its Smart Sticker, which provides an easy and non-invasive way to collect a skin sample, in contrast to the existing standard of care of using a scalpel to biopsy suspicious lesions. It also provides its research services and technology platform on a contract basis to pharmaceutical companies that use the technology to support their clinical trials.
DERMTECH, INC. 
