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) 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.
Veracyte (NASDAQ: VCYT) presented key findings at the CHEST Annual Meeting 2022, demonstrating the clinical value of its Envisia Genomic Classifier and Percepta Nasal Swab tests. The Envisia test identified genomic patterns indicating progressive disease in patients with interstitial lung disease (ILD), showing a significant decline in lung function among positive cases. Meanwhile, initial data for the Percepta Nasal Swab test suggested improved risk stratification for lung cancer in patients with nodules. These innovations aim to enhance patient care and assist physicians in making informed treatment decisions.
Veracyte, Inc. (Nasdaq: VCYT) announced it will release its third quarter 2022 financial results on November 2, 2022, after market close. Management plans to host a conference call at 4:30 p.m. Eastern Time on the same day to discuss the results and provide a business update. The call will be available via webcast on the company's website. Veracyte focuses on improving patient care with advanced diagnostic tests that help avoid unnecessary procedures and reduce treatment time, with operations based in South San Francisco, California.
Veracyte (NASDAQ: VCYT) announced results from the VANDAAM Phase 2 clinical study, published in the Journal of the National Cancer Institute, highlighting the effectiveness of its Decipher Prostate Genomic Classifier. This genomic test may significantly enhance the identification of African American men with localized prostate cancer at risk for more aggressive disease. The study involved a balanced cohort of 226 men, showcasing that African American participants were over twice as likely to have higher Decipher scores compared to non-African American men. This advancement could help in reducing disparities in prostate cancer outcomes.
Veracyte, Inc. (NASDAQ: VCYT) has appointed Dr. John Leite as the new Senior Vice President and General Manager of Pulmonology & Market Access. Dr. Leite will oversee commercial activities for Veracyte’s lung portfolio, including the Percepta Nasal Swab test for lung cancer, prior to its broad commercialization. His extensive experience in the diagnostics industry, particularly in market development and strategy, is expected to significantly impact Veracyte's goals in addressing unmet needs in pulmonology and improving patient care in lung diseases.