Welcome to our dedicated page for Veracyte news (Ticker: VCYT), a resource for investors and traders seeking the latest updates and insights on Veracyte stock.
Veracyte, Inc. (Nasdaq: VCYT) is a global cancer diagnostics and genomic testing company whose news flow centers on clinical evidence, test performance, and financial results. The company describes its mission as transforming cancer care by empowering clinicians with high-value insights at key decision points in diagnosis and treatment. Its Veracyte Diagnostics Platform underpins tests such as Decipher Prostate, Afirma GSC, Prosigna, Decipher Bladder, and the Percepta Nasal Swab test, along with research tools like Afirma GRID and Decipher GRID.
On this page, readers can follow Veracyte news related to quarterly and annual financial results, including revenue and testing volume updates the company announces in earnings press releases and accompanying conference calls. Veracyte’s communications also highlight non-GAAP measures such as adjusted EBITDA and adjusted EBITDA margin, along with explanations of how these metrics are used internally and how they differ from GAAP figures.
Another major category of news involves clinical and scientific developments. Veracyte regularly reports on studies and abstracts that use its Afirma GRID and Decipher GRID platforms to develop and evaluate molecular signatures in thyroid and prostate cancer. Examples include publications on Afirma GRID-derived signatures to differentiate thyroid cancer risk groups and prospective validation data for biomarkers such as the PAM50 molecular signature in recurrent prostate cancer.
Investors and clinicians can also find announcements about Veracyte’s participation in healthcare and investor conferences, where management presents updates on the company’s diagnostics portfolio, research programs, and financial outlook. For ongoing insight into how Veracyte’s genomic tests and research tools are being used in practice and studied in trials, this news feed aggregates the company’s press releases and related updates in one place.
Veracyte (NASDAQ: VCYT) revealed new insights from the G-MINOR trial at the 2023 ASCO GU Symposium, highlighting the Decipher Prostate Genomic Classifier's clinical utility. The study analyzed data from 1,015 men with prostate cancer, determining that tumor classification by subtype can inform treatment responses. Findings indicated luminal differentiated tumors had the best prognosis post-surgery, while basal immune tumors benefitted most from radiotherapy. Additionally, patients who underwent Decipher testing did not experience significant quality-of-life changes despite increased adjuvant therapy. This reinforces Veracyte's commitment to precision medicine in prostate cancer treatment.
Veracyte (Nasdaq: VCYT) is set to announce its financial results for Q4 2022 and the full year after market close on February 22, 2023. A conference call featuring management will be held at 4:30 p.m. ET the same day, providing insights into the company's financial performance and strategic updates. The call will be available via webcast on the company's website, ensuring broad access for stakeholders. Veracyte is dedicated to enhancing cancer care globally through high-value diagnostic insights, particularly for complex cancers like thyroid and prostate.
Veracyte (NASDAQ: VCYT) announced the presentation of six abstracts at the 2023 ASCO Genitourinary Cancers Symposium from February 16-18, 2023. These presentations highlight advancements in the Decipher urologic cancer testing offerings and utilize insights from Veracyte's Decipher Genomics Resource for Intelligent Discovery (GRID) database. Notably, the data aims to enhance treatment personalization for prostate cancer patients. The company emphasizes its commitment to empowering physicians with actionable genomic insights to better inform treatment decisions for urologic cancers.
Veracyte (VCYT) announces findings published in Frontiers in Endocrinology, revealing insights into the frequency and risk of malignancy linked to thyroid stimulating hormone receptor (TSHR) mutations in indeterminate thyroid nodules. Analysis of 8,881 nodules showed that only 5% were classified as suspicious for cancer. The risk of malignancy for benign nodules is ≤4%, while those identified as suspicious by the Afirma Genomic Sequencing Classifier (GSC) have a 15.3% risk. These results underscore the potential of Afirma testing for personalized care in thyroid nodule diagnosis and treatment.
Veracyte (Nasdaq: VCYT) announced a meta-analysis confirming the Afirma Genomic Sequencing Classifier (GSC) performs strongly in real-world settings. This analysis, involving 1,976 patients with indeterminate thyroid nodules (ITNs), shows the Afirma GSC's ability to rule out benign nodules with a sensitivity of 97% and a negative predictive value of 99%. The test's predictive ability for malignant nodules also improved, with a 65% positive predictive value. This supports the test's role in reducing unnecessary surgeries and guiding timely treatment decisions.
Veracyte reported strong financial results for Q3 2022, with total revenue of $75.6 million, a 25% increase year-over-year. Total test volume rose by 26% to 26,374 tests. The company secured new coverage for its Decipher Prostate test, expanding its reach to 195 million covered lives. Gross margin improved to 59%, and net loss reduced to $8.7 million, a 38% improvement. Veracyte raised its full-year 2022 revenue outlook to $288 million to $293 million, reflecting 31% to 33% growth compared to 2021.
Veracyte (NASDAQ: VCYT) announced the presentation of three abstracts at the Society for Immunotherapy of Cancer's 37th Annual Meeting, showcasing its multi-omics capabilities in immuno-oncology. These abstracts highlight the potential of the Veracyte Biopharma Atlas and Brightplex offerings for enhancing the understanding of tumor microenvironments, aiding biopharma partners in oncology drug development. The meeting will take place from November 8-12, 2022, in Boston, where Veracyte will also host a symposium to discuss its Biopharma Atlas.
Veracyte, Inc (Nasdaq: VCYT) announced that CEO Marc Stapley and CFO Rebecca Chambers will engage in a fireside chat at the Credit Suisse 31st Annual Healthcare Conference on November 8 at 1:25 p.m. ET. A live audio webcast will be accessible on Veracyte's website, with a replay available for 90 days post-event. Veracyte is a global diagnostics company focused on improving patient care through advanced diagnostic tests, helping avoid unnecessary procedures and expedite treatment.
Veracyte (Nasdaq: VCYT) presented new data at the ASTRO Annual Meeting 2022, indicating that a genomic signature from its Decipher GRID database can predict which men benefit from dose-intensified salvage radiotherapy (SRT) after prostate cancer surgery. In a phase 3 trial involving 226 men, those with higher PORTOS scores saw a 45% increase in clinical-progression-free survival (CPFS) at five years with SRT, as opposed to an observed -10% in those with lower scores. This predictive biomarker could aid in personalizing treatment for prostate cancer patients post-surgery.
Veracyte, Inc. (Nasdaq: VCYT) has shared new insights into thyroid tumor behavior derived from their extensive thyroid nodule database. Presenting at the American Thyroid Association Annual Meeting, researchers reviewed over 300 pathology reports, revealing a negative predictive value for low-risk nodules of 95%. The Afirma Genomic Sequencing Classifier (GSC) identified a higher malignancy risk of 15.3% in nodules with TSHR mutations, compared to <1.5% for benign classifications. These findings emphasize the potential for improved personalized treatment decisions.
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