Castle Biosciences Inc. announced it has secured a dual listing on Nasdaq Texas, marking a strategic shift in its equity trading framework. The company will maintain its existing primary listing on the Nasdaq Global Select Market while adding the Texas exchange as a secondary venue for trading activity.
The move follows the firm’s recent corporate restructuring and expansion of its biomarker-based cancer diagnostics pipeline. Castle Biosciences has not disclosed specific operational or financial motivations for the dual listing, but the change aligns with broader industry trends favoring regional exchanges for liquidity and investor accessibility.
Nasdaq Texas, formerly known as the Nasdaq Stock Market LLC’s Texas-based trading platform, provides an additional venue for secondary market activity. The dual listing does not alter the company’s existing regulatory filings, shareholder base, or corporate governance structure. Castle Biosciences’ shares will continue to trade under the same ticker symbol (NASDAQ: CSTL) across both exchanges.
The company, headquartered in Friendswood, Texas, specializes in developing and commercializing diagnostic tests for solid tumor cancers. Its products leverage proprietary algorithms and molecular profiling to guide treatment decisions. Castle Biosciences reported $112.5 million in revenue for 2023, up 21% year-over-year, driven by increased adoption of its DecisionDx tests.
Analysts note that dual listings are increasingly used by companies to enhance trading volumes and broaden investor access, particularly in regions with growing biotech hubs. Castle Biosciences’ move to Nasdaq Texas underscores its commitment to strengthening its market presence in its home state while maintaining broader national exposure.
