Castle Biosciences, Inc.

Canaccord Genuity acts as Bookrunning Manager for upsized US$266.8 million public offering of common stock by Castle Biosciences, Inc. 

Canaccord Genuity is pleased to announce that on December 18, 2020, it completed an upsized public offering of common stock for Castle Biosciences, Inc. (NASDAQ: CSTL) (the “Company”). The Company issued a total of 4,600,000 shares of its common stock at a price to the public of $58.00 per share, which includes the full exercise of the underwriters’ overallotment option. The gross proceeds to the Company, before deducting the underwriting discounts and commissions and estimated offering expenses, were approximately $266.8 million. The Company intends to use the net proceeds from the offering to advance its product pipeline, including by accelerating research and development and medical affairs activities, support currently marketed products, pay down amounts owed under the Company’s loan agreement and for working capital and other general corporate purposes. Castle may also use a portion of the net proceeds from the offering to co-develop, acquire or invest in products, technologies or businesses that are complementary to its business.

Canaccord Genuity acted as Bookrunning Manager for the offering. This is the third offering for the Company in the last two years.

Castle Biosciences, Inc. develops diagnostic and prognostic tests for dermatologic cancers, including invasive cutaneous melanoma and uveal melanoma. The Company’s non-invasive genomic products utilize proprietary algorithms to generate an assessment of a patient’s specific risk of metastasis or recurrence. The Company’s tests provide personalized, actionable genomic information, which helps physicians identify patients who are likely to benefit from an escalation of care as well as those who may be able to avoid unnecessary medical and surgical interventions.

The Canaccord Genuity team included Jeff Barlow, Matt Steere, Jennifer Pardi, Brian O’Connor, Tara Hartigan, Mike Wright, Tyler Munson, Brooke Szczygiel and Nathan Katz.