DermTech (DMTK) Tops Q3 EPS by 5c

DermTech (NASDAQ: DMTK) reported Q3 EPS of ($0.50), $0.05 better than the analyst estimate of ($0.55). Revenue for the quarter came in at $1.4 million versus the consensus estimate of $1.19 million.

“I am pleased that we have resumed growth following the second quarter COVID dip and that we are now seeing both sample volume and ordering clinician growth above pre-COVID levels. I am also encouraged to see commercial payors resume new technology reviews and with the progress we are seeing on the reimbursement front,” said John Dobak, M.D., chief executive officer of DermTech. “While the recent increase in COVID cases and greater state restrictions are concerning, I am proud of the way we have managed the headwinds presented by the pandemic with our augmented sales force. We are confident our non-invasive skin genomics platform has the opportunity to transform the practice of dermatology and that we have laid the groundwork for future growth.”

Cash, cash equivalents, and marketable securities totaled $51.5 million as of September 30, 2020.

For earnings history and earnings-related data on DermTech (DMTK) click here.

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