San Diego, CA -- (SBWIRE) -- 10/26/2023 -- An investor, who purchased shares of DermTech, Inc. (NASDAQ: DMTK), filed a lawsuit over alleged violations of Federal Securities Laws by DermTech, Inc.

Investors who purchased shares of DermTech, Inc. (NASDAQ: DMTK) have certain options and for certain investors are short and strict deadlines running. Deadline: December 15, 2023. NASDAQ: DMTK investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

San Diego, CA based DermTech, Inc., a molecular diagnostic company, develops and markets novel non-invasive genomics tests to aid in the diagnosis and management of various skin conditions, including skin cancer and inflammatory diseases in the United States.

On August 8, 2022, DermTech, Inc. announced its second quarter 2022 financial results and revealed that the Company expected "a lower average selling price (ASP) for [its] DMT," due to "Medicare billing code edits . . . as well as less favorable collection patterns from commercial payors."

Then, on November 3, 2022, DermTech, Inc. announced its third quarter 2022 financial results, reporting that billable sample volume "sequential growth was flat due to headwinds caused by limited commercial payer coverage." The Company attributed the disappointing growth to "commercial payer collection challenges [have] affect[ed] estimating ASP [average selling price]." As a result, DermTech expected "at least $13 million in assay revenue for the full-year 2022," which is "below [its] previous guidance range."

The plaintiff claims that between May 3, 2022 and November 3, 2022, the Defendants failed to disclose to investors that the Company experienced challenges with collections from commercial payors, that, as a result, there was a lower average selling price for DermTech's DMT, that, as a result of the foregoing, the Company's revenue growth would be adversely impacted, and that , as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of DermTech, Inc. (NASDAQ: DMTK) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.