CareDx To Buy Back Up To $50 Ml Of Shares; Stock Up

(RTTNews) - CareDx, Inc. (CDNA), precision medicine company, said on Tuesday that it has been authorized to buy back up to $50 million of shares over a period of up to two years.

The company intends to fund the share buyback from the cash available currently or cash equivalent, or future cash flow.

Reg Seeto, CEO of CareDx, said: "The opportunity to do share buybacks reflects our confidence in the business, cash position, long-term growth opportunities, and our conviction in the durable value of our shares."

CDNA was trading up by 3.75 percent at $13 per share in pre-market on the Nasdaq.