CareDx Announces CEO Transition, Dr. Reginald Seeto To Step Down; Board Establishes Office Of The CEO, Conducts Search For Successor; Raises 2023 Revenue Guidance To $274M-$278M Vs $255.42M Est.
Portfolio Pulse from Benzinga Newsdesk
CareDx, Inc. (NASDAQ:CDNA) announced that CEO Dr. Reginald Seeto will step down from his position effective November 1, 2023, and transition to the role of Senior Advisor to the Chairperson. The company has established an Office of the CEO and initiated a search for a permanent CEO. CareDx also raised its 2023 revenue guidance to $274M-$278M, up from the estimated $255.42M.
November 01, 2023 | 9:12 pm
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NEUTRAL IMPACT
CEO transition at CareDx may cause short-term uncertainty, but the raised 2023 revenue guidance could have a positive impact on the stock.
CEO transitions often lead to short-term uncertainty as investors assess the potential impact on the company's strategy and performance. However, the raised 2023 revenue guidance indicates strong business performance, which could offset any negative impact and potentially boost the stock.
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