LA JOLLA, Calif.--(BUSINESS WIRE)--Mar. 25, 2020--
DermTech, Inc. (NASDAQ: DMTK) (“DermTech”), a leader in precision dermatology enabled by a non-invasive skin genomics platform, today released the following letter from its CEO John Dobak, M.D.:
We at DermTech are monitoring the COVID-19 pandemic daily. In these uncertain times, the health and safety of our employees and other stakeholders is a top priority. In an effort to limit the spread of COVID-19, we are managing our staffing and travel as guided by the CDC, OSHA, and state and local governments. We have implemented a work from home policy for those employees who can do so to minimize our in-office staff. Our patient-focused teams continue to operate normally, following appropriate safety procedures including, but not limited to: social distancing, emphasizing proper respiratory etiquette and hand hygiene, staggered shifts, requiring sick employees to stay home, and frequent environmental cleaning. Our field-based sales force has suspended face-to-face interactions with healthcare clinicians and we have implemented tele-sales calls.
Because providing test results for early melanoma detection is imperative, our lab is currently fully operational, and we are receiving and analyzing samples. Across healthcare, non-essential medical visits are being postponed, which is impacting in-office clinical appointments. However, we believe that assessing an atypical mole for melanoma should be considered essential, and as such we are evaluating all opportunities to make our test available to patients and ensure timely results.
While we have minimized disruption to our laboratory operations, we do expect to delay spending in areas not critical to patient care. This will ensure we have the financial flexibility to meet future patient and corporate needs.
We will continue to keep our stakeholders updated on our efforts as the COVID-19 pandemic situation evolves. We will make any further updates related to COVID-19 available through postings on our website at www.DermTech.com.
We are committed to supporting our patients and healthcare clinicians during this difficult time and thank you for your continued trust.
John Dobak, M.D.
DermTech is the leading genomics company in dermatology and is creating a new category of medicine, precision dermatology, enabled by our non-invasive skin genomics platform. DermTech’s mission is to transform the practice of dermatology through more accurate diagnosis and treatment, and the elimination of unnecessary surgery, leading to improved patient care and lower costs. DermTech provides genomic analysis of skin samples collected non-invasively using an adhesive patch rather than a scalpel. DermTech markets and develops products that facilitate the early detection of skin cancers, and is developing products that assess inflammatory diseases and customize drug treatments. For additional information on DermTech, please visit DermTech’s investor relations site at: www.DermTech.com.
Forward Looking Statements:
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. The expectations, estimates, and projections of DermTech may differ from its actual results and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, expectations with respect to: the effects of the COVID‑19 pandemic and the effectiveness of DermTech’s response thereto; trends with respect to melanoma testing and patient care; changes in patient behavior and market conditions; potential opportunities to make DermTech’s test available to patients without in‑office clinical appointments; DermTech’s ability to minimize disruptions to its laboratory operations; DermTech’s anticipated spending and financial flexibility; and the performance, patient benefits, cost-effectiveness and commercialization of DermTech’s products. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside of the control of DermTech and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the outcome of any legal proceedings that may be instituted against DermTech; (2) DermTech’s ability to obtain additional funding to develop and market its products; (3) the existence of favorable or unfavorable clinical guidelines for DermTech’s tests; (4) the reimbursement of DermTech’s tests by Medicare and private payors; (5) the ability of patients or healthcare providers to obtain coverage of or sufficient reimbursement for DermTech’s products; (6) DermTech’s ability to grow, manage growth and retain its key employees; (7) changes in applicable laws or regulations; (8) the market adoption and demand for DermTech’s products and services together with the possibility that DermTech may be adversely affected by other economic, business, and/or competitive factors; and (9) other risks and uncertainties included in (x) the “Risk Factors” section of the most recent Annual Report on Form 10‑K filed by DermTech with the SEC, and (y) other documents filed or to be filed by DermTech with the SEC. DermTech cautions that the foregoing list of factors is not exclusive. You should not place undue reliance upon any forward-looking statements, which speak only as of the date made. DermTech does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.
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Chief Financial Officer
Source: DermTech, Inc.