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 findings from the Phase 3 STAMPEDE trial indicating that the Decipher Prostate Genomic Classifier is effective in predicting clinical outcomes for men with high-risk prostate cancer. The study found that the test can help determine which patients may benefit from intensified treatment with abiraterone acetate and prednisolone in addition to standard therapies. The company aims to expand the test's availability in the U.S. and internationally as an in vitro diagnostic.
Veracyte (NASDAQ: VCYT) announced findings at the European Respiratory Society International Congress 2022 indicating that the Envisia Genomic Classifier can predict which interstitial lung disease (ILD) patients, including those with idiopathic pulmonary fibrosis (IPF), are likely to decline with combination immunosuppressive therapy. The study, involving 135 patients, revealed that EGC-positive patients showed a lung function decline of 9.4% with the therapy, compared to 1.9% for EGC-negative patients. Veracyte plans to submit the Envisia IVD test for regulatory approval in Europe in 2023.
Veracyte (Nasdaq: VCYT) has announced that CEO Marc Stapley and CFO Rebecca Chambers will participate in a fireside chat at the Morgan Stanley 20th Annual Global Healthcare Conference on September 13 at 2:55 p.m. Eastern Time. A live audio webcast of this presentation can be accessed on Veracyte's website, and a replay will be available for 90 days post-event. Veracyte is dedicated to improving patient care through advanced diagnostic tests, helping patients avoid unnecessary procedures and reducing time to appropriate treatments.
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.