Veracyte Stock Price, News & Analysis

Veracyte, Inc (Nasdaq: VCYT) has successfully completed its acquisition of HalioDx for €260 million, consisting of €147 million in cash and €113 million in stock. This strategic move aims to enhance Veracyte's reach in global markets and expand its diagnostic capabilities into eight of the ten most prevalent cancers in the U.S. CEO Marc Stapley highlighted that HalioDx's European manufacturing and immuno-oncology expertise could significantly drive revenue growth in cancer diagnostics. Bonnie Anderson will oversee the integration of operations in France.

Veracyte, Inc. (Nasdaq: VCYT) reported a robust second quarter of 2021, with total revenue reaching $55.1 million, a 166% increase year-over-year. The gross margin improved to 68%, reflecting a positive trend in operational efficiency. Despite a $9.0 million net loss, there was an 18% improvement compared to the previous year. Notably, the company enhanced its revenue guidance for the full year to $200 million - $208 million, indicating a revised growth rate of 69% to 76% over 2020. Key strategic moves include the anticipated acquisition of HalioDx to bolster growth in cancer diagnostics.

Veracyte (Nasdaq: VCYT) announced promising data regarding its Decipher Prostate Biopsy genomic classifier, which may assist in treatment decisions for prostate cancer patients eligible for active surveillance. A retrospective analysis from the MUSIC registry revealed that high Decipher scores predict quicker transitions from active surveillance to definitive treatment and increased treatment failure rates. The study included 855 participants and found significant differences in treatment timelines based on Decipher scores. The ongoing investigation includes numerous clinical trials to further validate these findings.

Veracyte, Inc. (Nasdaq: VCYT) has appointed Rebecca Chambers as its new executive vice president and chief financial officer, effective July 19. Chambers brings extensive healthcare leadership experience, previously serving as CFO at Outset Medical and holding key financial roles at Illumina. CEO Marc Stapley expressed confidence in Chambers' ability to enhance the company’s financial operations and support its growth strategy. Veracyte focuses on genomic diagnostics to improve patient care and has a portfolio of tests for various cancers. The company aims to drive growth through innovative strategies and international expansion.

Veracyte (Nasdaq: VCYT) announced it will release its Q2 2021 financial results after the market closes on July 29. A conference call and webcast will be held at 4:30 p.m. ET on the same day to discuss these results and provide a business update. Participants can access the call through designated dial-in numbers, with a replay available on the company’s website. Veracyte specializes in genomic diagnostics, providing tests for various cancers and diseases, aiming to improve patient care and reduce unnecessary procedures.

Veracyte (Nasdaq: VCYT) has announced key leadership appointments to enhance its executive team and support global growth strategies. Rob Brainin joins as executive vice president and chief business officer, focusing on biopharmaceutical partnerships and business development. Bill Zondler is appointed as senior vice president and chief information officer, tasked with building the company's global IT infrastructure. CEO Marc Stapley expressed confidence in their capabilities to advance Veracyte's mission of improving patient outcomes worldwide.

Veracyte (Nasdaq: VCYT) has announced the appointment of Dr. William A. Bulman as Medical Director for Lung Cancer and Dr. Paul Kelly Marcom for Breast Cancer, enhancing its medical team. Both doctors bring extensive experience and will support Veracyte's advanced genomic tests aimed at improving patient care. Dr. Bulman has a strong background in pulmonology and clinical trials, while Dr. Marcom has over 30 years of oncology expertise, focusing on the genetic aspects of breast cancer. These appointments reflect Veracyte's commitment to innovation and growth in genomic diagnostics.

Veracyte, Inc. (Nasdaq: VCYT) announced new data on its Decipher® Prostate genomic classifier, showing its prognostic utility for men with non-metastatic castration-resistant prostate cancer (nmCRPC), published in JAMA Oncology. The findings from the Phase 3 SPARTAN study indicate that Decipher can identify patients likely to benefit from apalutamide treatment alongside androgen-deprivation therapy (ADT). Importantly, high-risk patients receiving apalutamide showed significant improvements in metastasis-free survival (HR 0.21; P<0.001), suggesting Decipher’s role in optimizing treatment decisions.

Veracyte (Nasdaq: VCYT) announced that Medicare has finalized coverage policies for its Decipher Bladder genomic test, effective July 18, 2021. This marks Decipher Bladder as the first genomic test covered by Medicare for bladder cancer patients. The coverage will benefit over 62 million Medicare beneficiaries, aiding more than 80,000 annual bladder cancer diagnoses in the U.S. The Decipher test enhances treatment decision-making by providing genomic insights, potentially improving outcomes for patients with muscle-invasive disease.