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Why DermTech Stock Is Soaring Today

TheMotleyFool

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Shares of DermTech (NASDAQ: DMTK) were soaring 25.4% higher as of 10:57 a.m. EST on Wednesday. The impressive jump came after the company announced that Geisinger Health System issued a positive medical benefit policy for the DermTech Pigmented Lesion Assay (PLA), a non-invasive genomic test for the early detection of melanoma.

A positive coverage decision from a major health plan such as Geisinger should pave the way for DermTech's sales to grow. Investors are understandably excited about today's news.

Image source: Getty Images.

Source Fool.com

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