Castle Biosciences

Castle Biosciences

CSTL
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CSTL · Stock Price

USD 19.24-5.76 (-23.04%)
Market Cap: $577.9M

Historical price data

Market Cap: $577.9MFounded: 2008Employees: 300-500HQ: Friendswood, United States

Overview

Castle Biosciences is a mission-driven company focused on transforming disease management by applying precision genomics to high-stakes clinical decisions. Since its 2008 founding, it has built a commercially successful portfolio of proprietary tests, supported by over 150 peer-reviewed publications and more than 300,000 test reports delivered. Its strategy centers on addressing critical unmet needs in dermatologic, ocular, and gastrointestinal oncology through its multi-analyte GEP platform, driving growth via clinical validation, payer coverage, and market penetration.

OncologyGastroenterologyDermatology

Technology Platform

Proprietary multi-analyte gene expression profiling (GEP) and algorithmic interpretation platform, utilizing RNA from FFPE tissue, often integrated with clinicopathologic factors and complementary technologies like IHC and NGS.

Funding History

7
Total raised:$225M
IPO$75M
IPO$45M
Series B$30M
Series C$30M

Opportunities

Significant growth opportunities exist through deeper penetration of large addressable markets (e.g., >100k annual melanoma cases), expansion of payer coverage for newer tests like TissueCypher and IDgenix, and the potential to launch new tests from its development pipeline into its established commercial channels.

Risk Factors

Key risks include dependence on favorable and stable reimbursement from insurers, potential regulatory changes for laboratory-developed tests (LDTs), competition from alternative prognostic tools, and the need to continuously drive adoption and change clinical practice.

Competitive Landscape

Castle competes with specialized diagnostic firms like SkylineDx (melanoma) and Avero Diagnostics (uveal melanoma), as well as standard clinicopathologic approaches. Its competitive edge is built on a robust body of clinical evidence, an integrated test portfolio, and proven commercial execution in securing reimbursement.

Company Timeline

2008Founded

Founded in Friendswood, United States

2015Series C

Series C: $30.0M

2017Series B

Series B: $30.0M

2019IPO

IPO — $75.0M