This weeks sparkling pick of a stock to jump into is Castle Biosciences. Currently trading at nearly 78$ a share, (NASDAQ) the companies call sign is CSTL.
To say in general that this industry, Biosciences, has not become exponentially more important over the past year and a half would be insanity, and despite not focusing on vaccines or directly relevant to covid research, the company does manage to still garner favour by investors for its work in using gene research to detect skin cancer, and cancers of other localities.
Since the company began trading, only a year and a half ago, it’s price has blown up, increasing from the IPO of 16$, all the way to 75$. Nearly a 370% increase.
Loan repayment
In December of 2020, Castle Biosciences announced the full prepayment of a loan taken in 2018. Including payoff amounts for principal, interest, fees, reimbursements and other items, the total amount prepaid was 21.6 million dollars and results in a net cash savings and terminates all obligations and commitments.
In a public statement, President and CEO, Derek Maetzold announced the following: ” Following our recent successful equity financing, full prepayment of our outstanding debt signifies another step in fortifying our balance sheet. We believe our strong financial position allows us to further advance our product pipeline and provide additional for our currently marketed products and drive continued growth as we move into 2021.”
Not many things are as positive of a marker to the success of a company than it prepaying a massive loan on the back of its own success.
Personalized Information
Castle Biosciences focuses on providing doctors and patients with personalized, clinically actionable genomic information to assist them in making smarter, more informed decisions about treatment options.
Based in Friendswood, Texas, and with a laboratory in Phoenix, Arizona, Castle’s website touts to be, “helping people live.” It’s proprietary genomic informative assistance in cancer detection, named DecisionDx and DiffDx, cover a large range of cancers.
In the past year, the human race has come to focus more and more on medical research. Its importance snowballing to a point where the entire globe now awaits a vaccine which would never have been possible without Bioscience Research. In the eventuality that covid never does fully dissipate, or even if it does, the globe will still be afflicted by cancer. Detecting it, then coupling the findings with patient specific genomic advice to choose the optimum treatment will ALWAYS be a highly sought after product.
In this writers opinion:
Castle Biosciences has only up to go and judging on its phenomenal growth since going public, as well as its current financial stability in regards to loan prepayment, that continued surge upwards could be astronomical.
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