Veracyte Stock Price, News & Analysis

Veracyte (NASDAQ: VCYT) will present seven abstracts on its genomic tests for prostate and breast cancers at the ESMO Congress 2022 from September 9-13 in Paris. A notable highlight includes data from a post-hoc analysis of the Decipher Prostate test within the STAMPEDE trial, potentially expanding its use among advanced prostate cancer patients in the U.S. and abroad. Veracyte aims to enhance patient care through its diagnostic tests, which are designed to minimize risky procedures and ensure faster treatment decisions.

Veracyte (VCYT) announced findings showing that its immuno-oncology biomarkers can predict responses to CAR T-cell therapy in large B-cell lymphoma patients. Published in Nature Medicine, the study highlights the prognostic importance of the tumor microenvironment (TME) prior to treatment. Key results indicate that the Immunoscore CR and Immunosign 21 biomarkers are associated with improved survival rates following CAR T-cell therapy. These insights may enhance patient outcomes and inform clinical trials, demonstrating Veracyte's potential in advancing precision medicine.

Veracyte (NASDAQ: VCYT) announced the immediate appointment of Dr. Eliav Barr to its board of directors. Dr. Barr brings extensive biopharmaceutical experience, particularly in global clinical development, which is expected to enhance Veracyte's strategic initiatives, especially in immuno-oncology. CEO Marc Stapley emphasized the potential for improved patient outcomes through this new leadership. Dr. Barr previously held high-level positions at Merck, overseeing critical therapeutic areas and leading the development of key vaccines. Veracyte aims to leverage his expertise to expand biopharmaceutical partnerships.

Veracyte reported a 32% increase in total revenue, reaching $72.9 million for Q2 2022, compared to Q2 2021. Total test volume grew by 19% to 24,904 tests.

Key highlights included significant advancements in clinical evidence for its genomic tests and an updated clinical guideline endorsing its Decipher Prostate test. Operating expenses rose 29% year-over-year to $53.7 million, with a net loss of $9.5 million.

The company projects full-year 2022 revenue between $272 million and $280 million, reflecting growth of 24% to 28%.

Veracyte, Inc. (NASDAQ: VCYT) announced that its Afirma Medullary Thyroid Cancer (MTC) Classifier achieved 100% sensitivity and 100% specificity in identifying MTC from pre-operative thyroid samples. The study evaluated 211 fine needle aspiration samples, successfully identifying all 21 MTC cases and 190 non-MTC cases. This genomic test may lead to more timely diagnoses, improving surgical planning and patient outcomes for this aggressive cancer type. The Afirma MTC Classifier is part of Veracyte’s offerings for patients with indeterminate thyroid nodules.

Veracyte, Inc. (NASDAQ: VCYT) will release its financial results for Q2 2022 on August 2, 2022, after the market close. Following this, management will conduct a conference call at 4:30 p.m. ET to discuss results and provide a business update. The call will be accessible via the company’s website, and a replay will be available afterward. Veracyte is dedicated to improving patient care through advanced diagnostics, reducing the need for risky procedures, and expediting appropriate treatment for prevalent cancers.

Veracyte announced positive data on its Percepta Genomic Sequencing Classifier (GSC), published in PLOS ONE. The multi-cohort study involved 412 lung nodule patients with inconclusive bronchoscopy results, demonstrating that the Percepta GSC can accurately reclassify cancer risk, helping patients avoid unnecessary invasive procedures. Results showed that 39.1% of patients were reclassified into different risk categories, with significant predictive values for identifying low and high risks. These findings could potentially lead to earlier diagnoses and improved patient outcomes for lung cancer.

Veracyte (NASDAQ: VCYT) announced findings from a meta-analysis presented at ENDO 2022, reinforcing the Afirma Genomic Sequencing Classifier's (GSC) accuracy in ruling out thyroid cancer in patients with indeterminate nodules. The analysis of 13 studies indicates a sensitivity of 97% and a negative predictive value of 99%, mirroring original clinical validation. Notably, the Afirma GSC showed a 65% positive predictive value for malignancy in suspicious nodules, surpassing the initial 47% noted in earlier validations. This underscores the test's effectiveness in reducing unnecessary surgeries.