{"id":404275,"date":"2020-12-22T07:03:33","date_gmt":"2020-12-22T12:03:33","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=404275"},"modified":"2020-12-22T07:03:33","modified_gmt":"2020-12-22T12:03:33","slug":"castle-biosciences-announces-early-repayment-of-debt","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/castle-biosciences-announces-early-repayment-of-debt\/","title":{"rendered":"Castle Biosciences Announces Early Repayment of Debt"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Castle Biosciences Announces Early Repayment of Debt<\/b><\/p>\n<p class=\"bwalignc\"><i>Recent Equity Financing Contributes to Strong, Debt-Free Balance Sheet<\/i><\/p>\n<p>FRIENDSWOOD, Texas&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nCastle Biosciences, Inc. (Nasdaq: CSTL), a skin cancer diagnostics company providing personalized genomic information to improve cancer treatment decisions, today announced it prepaid in full its outstanding term loan facility to further improve its balance sheet.\n<\/p>\n<p>\n\u201cFollowing our recent successful equity financing, full prepayment of our outstanding debt signifies another step in fortifying our balance sheet,\u201d said Derek Maetzold, president and chief executive officer of Castle Biosciences. \u201cWe believe our strong financial position allows us to further advance our product pipeline and provide additional support for our currently marketed products and drive continued growth as we move into 2021.\u201d\n<\/p>\n<p>\nCastle\u2019s term loan facility with Oxford Finance, LLC, and Silicon Valley Bank was originally funded on Nov. 30, 2018. On Dec. 21, 2020, the Company paid the lenders approximately $21.6 million, which includes pay-off amounts for principal, interest, fees, reimbursement of expenses and other items. The prepayment will result in a net cash savings to the Company and terminates all commitments and obligations under the loan agreement.\n<\/p>\n<p><b>About Castle Biosciences<\/b><\/p>\n<p>\nCastle Biosciences (Nasdaq: CSTL) is a commercial-stage dermatologic cancer company focused on providing physicians and their patients with personalized, clinically actionable genomic information to make more accurate treatment decisions. The Company currently offers tests for patients with cutaneous melanoma (DecisionDx<sup>\u00ae<\/sup>-Melanoma, DecisionDx<sup>\u00ae<\/sup>-CM<i>Seq),<\/i> cutaneous squamous cell carcinoma (DecisionDx<sup>\u00ae<\/sup>-SCC), suspicious pigmented lesions (DecisionDx<sup>\u00ae <\/sup>DiffDx\u2122-Melanoma) and uveal melanoma (DecisionDx<sup>\u00ae<\/sup>-UM, DecisionDx<sup>\u00ae<\/sup>-PRAME and DecisionDx<sup>\u00ae<\/sup>-UM<i>Seq<\/i>). For more information about Castle\u2019s gene expression profile tests, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.castletestinfo.com%2F&amp;esheet=52352454&amp;newsitemid=20201222005112&amp;lan=en-US&amp;anchor=www.CastleTestInfo.com&amp;index=1&amp;md5=f6d1d0ed38c64a0eeb7c1ce4429394e5\">www.CastleTestInfo.com<\/a>. Castle also has active research and development programs for tests in other dermatologic diseases with high clinical need. Castle Biosciences is based in Friendswood, Texas (Houston), and has laboratory operations in Phoenix, Arizona. For more information, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fcastlebiosciences.com%2F&amp;esheet=52352454&amp;newsitemid=20201222005112&amp;lan=en-US&amp;anchor=www.CastleBiosciences.com&amp;index=2&amp;md5=33247dab82e85a13707499a653e2aa46\">www.CastleBiosciences.com<\/a>.\n<\/p>\n<p>\nDecisionDx-Melanoma, DecisionDx-CM<i>Seq<\/i>, DecisionDx-SCC, DecisionDx DiffDx-Melanoma, DecisionDx-UM, DecisionDx-PRAME and DecisionDx-UM<i>Seq<\/i> and are trademarks of Castle Biosciences, Inc.\n<\/p>\n<p><b>Forward-Looking Statements<\/b><\/p>\n<p><i>The information in this press release contains forward-looking statements and information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the \u201csafe harbor\u201d created by those sections. These forward-looking statements include, but are not limited to, statements concerning our financial position and the expected cash savings resulting from the prepayment of our loan facility. The words \u201canticipates,\u201d \u201cbelieves,\u201d \u201cestimates,\u201d \u201cexpects,\u201d \u201cintends,\u201d \u201cmay,\u201d \u201cplans,\u201d \u201cprojects,\u201d \u201cwill,\u201d \u201cwould\u201d and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We may not actually achieve the plans, intentions, or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements that we make. These forward-looking statements involve risks and uncertainties that could cause our actual results to differ materially from those in the forward-looking statements, including, without limitation, the effects of the COVID-19 pandemic on our business and our efforts to address its impact on our business and our ability to maintain compliance with the covenants in our debt facility, the timing and amount of revenue we are able to recognize in a given fiscal period, unexpected delays in planned launch of our pipeline products, the level and availability of reimbursement for our products, our ability to manage our anticipated growth and the risks set forth in our Annual Report on Form 10-K for the year ended December 31, 2019, and in our other filings with the SEC. The forward-looking statements are applicable only as of the date on which they are made, and we do not assume any obligation to update any forward-looking statements, except as may be required by law.<\/i><\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201222005112r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20201222005112\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20201222005112\/en\/<\/a><\/span><\/p>\n<p>\nCamilla Zuckero<br \/>\n<br \/>832-835-5158<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:czuckero@castlebiosciences.com\">czuckero@castlebiosciences.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America Texas<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Oncology Health Genetics Other Science Research Science Biotechnology<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20201222005112\/en\/848485\/3\/CastleLogoColor_Transparent.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Castle Biosciences Announces Early Repayment of Debt Recent Equity Financing Contributes to Strong, Debt-Free Balance Sheet FRIENDSWOOD, Texas&#8211;(BUSINESS WIRE)&#8211; Castle Biosciences, Inc. (Nasdaq: CSTL), a skin cancer diagnostics company providing personalized genomic information to improve cancer treatment decisions, today announced it prepaid in full its outstanding term loan facility to further improve its balance sheet. \u201cFollowing our recent successful equity financing, full prepayment of our outstanding debt signifies another step in fortifying our balance sheet,\u201d said Derek Maetzold, president and chief executive officer of Castle Biosciences. \u201cWe believe our strong financial position allows us to further advance our product pipeline and provide additional support for our currently marketed products and drive continued growth as we move into 2021.\u201d Castle\u2019s term &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/castle-biosciences-announces-early-repayment-of-debt\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Castle Biosciences Announces Early Repayment of Debt&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-404275","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Castle Biosciences Announces Early Repayment of Debt - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/castle-biosciences-announces-early-repayment-of-debt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Castle Biosciences Announces Early Repayment of Debt - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Castle Biosciences Announces Early Repayment of Debt Recent Equity Financing Contributes to Strong, Debt-Free Balance Sheet FRIENDSWOOD, Texas&#8211;(BUSINESS WIRE)&#8211; Castle Biosciences, Inc. (Nasdaq: CSTL), a skin cancer diagnostics company providing personalized genomic information to improve cancer treatment decisions, today announced it prepaid in full its outstanding term loan facility to further improve its balance sheet. \u201cFollowing our recent successful equity financing, full prepayment of our outstanding debt signifies another step in fortifying our balance sheet,\u201d said Derek Maetzold, president and chief executive officer of Castle Biosciences. \u201cWe believe our strong financial position allows us to further advance our product pipeline and provide additional support for our currently marketed products and drive continued growth as we move into 2021.\u201d Castle\u2019s term &hellip; Continue reading &quot;Castle Biosciences Announces Early Repayment of Debt&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/castle-biosciences-announces-early-repayment-of-debt\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-22T12:03:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201222005112r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/castle-biosciences-announces-early-repayment-of-debt\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/castle-biosciences-announces-early-repayment-of-debt\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Castle Biosciences Announces Early Repayment of Debt\",\"datePublished\":\"2020-12-22T12:03:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/castle-biosciences-announces-early-repayment-of-debt\\\/\"},\"wordCount\":674,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/castle-biosciences-announces-early-repayment-of-debt\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20201222005112r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/castle-biosciences-announces-early-repayment-of-debt\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/castle-biosciences-announces-early-repayment-of-debt\\\/\",\"name\":\"Castle Biosciences Announces Early Repayment of Debt - 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