Why Castle Biosciences Stock Is Jumping Today
Shares of Castle Biosciences (NASDAQ: CSTL) were jumping 13.3% higher at 11:01 a.m. ET on Thursday. The nice gain came after the genetic testing company announced its second-quarter results following the market close on Wednesday.
Castle reported Q2 revenue of $50 million, a year-over-year (YOY) increase of 44%. This result handily topped the consensus revenue estimate of $44.2 million.
The company posted a net loss in the second quarter of $18.8 million, or $0.70 per share. This reflected significant deterioration from the net loss of $1.65 billion, or $0.06 per share, in the prior-year period. However, it still beat the average analysts' estimate of a net loss of $0.92 per share.
Source Fool.com
