Veracyte Stock Price, News & Analysis

Veracyte, Inc. (Nasdaq: VCYT) reported its financial results for Q1 2021, revealing total revenue of $36.7 million, an 18% increase year-over-year. The gross margin stood at 66%. Despite the revenue growth, the company faced a net loss of $41.9 million, primarily due to $35.1 million in acquisition-related expenses from Decipher Biosciences. Total genomic testing revenue increased 19%, reaching $36.1 million. The company anticipates the launch of innovative products, including the Percepta Nasal Swab test for lung cancer detection, later this year.

Veracyte (Nasdaq: VCYT) announced new data for its Prosigna Breast Cancer Gene Signature Assay, set to be presented at the ESMO Breast Cancer Virtual Congress 2021 from May 5-8. Bonnie Anderson, CEO, emphasized the critical role of genomic testing in tailored breast cancer treatment decisions. Two significant studies will be showcased: one analyzing the PAM50 gene signature's impact on therapy choice for early-stage breast cancer patients, and another reflecting a consensus on genomic tests' clinical utility among European clinicians.

Veracyte (Nasdaq: VCYT) announced that six abstracts featuring its genomic tests for lung, prostate, and thyroid cancers will be presented at the 2021 ASCO Annual Meeting, taking place virtually from June 4-8, 2021. A key highlight is the Percepta Nasal Swab, a groundbreaking non-invasive test aimed at assessing lung cancer risk in patients with nodules detected via CT scans. The test aims to enhance patient care by distinguishing low-risk patients from those needing further investigation. Other abstracts include validation data for the Decipher Prostate test, focusing on its predictive capabilities for aggressive prostate cancers.

Veracyte, Inc. (Nasdaq: VCYT) published a study confirming the analytical validity of its Percepta Genomic Sequencing Classifier (GSC) for enhancing lung cancer diagnosis. This genomic test demonstrated robust performance aiding in the evaluation of inconclusive bronchoscopy results for lung nodules. The study validated the Percepta GSC's analytical sensitivity, specificity, and reproducibility across different laboratories and conditions, assuring clinicians about its reliability. With approximately 545,000 bronchoscopies annually yielding inconclusive results, the Percepta GSC has significant implications for patient management.

Veracyte (Nasdaq: VCYT) will announce its first-quarter 2021 financial results on May 10, post-market close. A conference call will follow at 4:30 p.m. ET for discussion of these results and an overall business update. Participants can join the call via a dedicated U.S./Canada toll-free number (855) 541-0980 or an international line (970) 315-0440, using Conference I.D. 2846256. The event will be available for streaming on Veracyte's website, with a replay accessible for one year.

Veracyte (Nasdaq: VCYT) announced new data on its Percepta Genomic Atlas and Envisia Genomic Classifier at the ATS 2021 International Conference, held virtually from May 14-19, 2021. The Percepta Genomic Atlas aims to enhance lung cancer treatment decisions by efficiently detecting gene variants from biopsy samples, while the Envisia Classifier improves diagnoses of interstitial lung diseases. Both advancements support Veracyte's mission to deliver genomic tests globally, leveraging the nCounter Analysis System for expanded access.

Veracyte (Nasdaq: VCYT) announced the retirement of CFO Keith Kennedy, effective May 15, 2021, with Jane Alley stepping in as acting CFO. The company projected first-quarter revenue of $36M to $37M, a 17.3% increase from last year. Product testing volume is expected between 14,000 and 14,500 tests, reflecting a 9.3% growth. The first financial results will be released on May 10, 2021, followed by a conference call. Veracyte's recent acquisition of Decipher Biosciences strengthens its position in urologic cancer diagnostics.

Veracyte (Nasdaq: VCYT) announced a significant milestone in its partnership with Acerta Pharma, marking the enrollment of the first patient in the Phase 3 ESCALADE trial. This study will assess the efficacy and safety of acalabrutinib combined with R-CHOP therapy for patients aged 18-65 diagnosed with untreated diffuse large B-cell lymphoma (DLBCL). The LymphMark genomic test will be used to identify suitable patients, aiming to enhance treatment outcomes. DLBCL accounts for approximately 30% of lymphomas, with over 500,000 new non-Hodgkin lymphoma cases worldwide in 2018.

Veracyte (Nasdaq: VCYT) announced that Bonnie Anderson, CEO and Chairman, will participate in a fireside chat during the 20th Annual Needham Virtual Healthcare Conference on April 13, 2021, at 2:15 p.m. ET. The live audio webcast can be accessed via Veracyte's website, and a replay will be available for 90 days post-event. Veracyte is known for its genomic diagnostics which aid in cancer diagnosis and treatment, offering tests for lung, prostate, breast, thyroid, and bladder cancers.