Veracyte Stock Price, News & Analysis

Veracyte (Nasdaq: VCYT) applauded the U.S. Preventive Services Task Force (USPSTF) for its revised lung cancer screening recommendations, lowering the screening age from 55 to 50 and reducing smoking history criteria. This change is expected to increase eligibility for low-dose CT scans to nearly 15 million Americans. The company emphasizes the importance of early detection in saving lives and is developing innovative tests to enhance the diagnosis and management of lung cancer. The Percepta® Genomic Sequencing Classifier and a noninvasive nasal swab test are set to launch in late 2021.

Veracyte, a global genomic diagnostics company (Nasdaq: VCYT), announced that its CEO, Bonnie Anderson, will participate in a fireside chat at the 10th Annual SVB Leerink Global Healthcare Conference on February 24, 2021, at 3:40 p.m. Eastern Time. A live audio webcast will be available on Veracyte’s website, with a replay accessible for 90 days post-event. Veracyte focuses on improving patient care through genomic tests for diseases like cancer, minimizing the need for invasive procedures and expediting appropriate treatment.

Veracyte, Inc. (Nasdaq: VCYT) reported Q4 2020 revenue of $34.5 million, a 16% increase year-over-year, driven by a rebound in genomic testing volumes. However, total revenue for the full year decreased by 2% to $117.5 million. The company expects to close its $600 million acquisition of Decipher Biosciences by April 1, 2021, aiming for combined revenue of $190 million to $200 million in 2021, a 65% growth outlook. Operating expenses rose 13% in Q4, contributing to a net loss of $8.0 million for the quarter.

Veracyte, Inc. (Nasdaq: VCYT) has announced that Bonnie Anderson, chairman and CEO, will participate in a fireside chat at the BTIG Virtual MedTech, Digital Health, Life Science & Diagnostic Tools Conference on February 18 at 1:30 p.m. Eastern Time. Investors can access the live audio webcast via Veracyte’s website, with a replay available for 90 days post-presentation. Veracyte is a global genomic diagnostics company focused on enhancing patient care through genomic testing for cancer and other diseases, aiming to facilitate quicker diagnosis and treatment.

Veracyte, Inc (Nasdaq: VCYT) will release its full financial results for Q4 and the full year 2020 post-market on February 17. A conference call will follow at 4:30 p.m. ET, where management will discuss financial results and provide a business update. Participants can join via the toll-free U.S./Canada dial-in at (855) 541-0980 or international number (970) 315-0440, using Conference I.D. 7487201. Veracyte leverages genomic diagnostics to enhance patient care and is expanding its test offerings in cancer and other diseases.

Veracyte, Inc. (Nasdaq: VCYT) has completed its public offering of 8,547,297 shares of common stock at a price of $74.00 per share. The offering raised approximately $593.8 million in net proceeds after accounting for underwriting discounts and expenses. This included 1,114,864 shares sold through the underwriters’ full exercise of their option to purchase additional shares. Goldman Sachs & Co. and SVB Leerink served as joint lead book-running managers, with several other firms as co-managers. The offering was conducted under a prior effective shelf registration.

Veracyte, Inc. (VCYT) has priced an underwritten public offering of 7,432,433 shares of common stock at $74.00 per share, anticipating gross proceeds of approximately $550 million. This offering was increased from a prior estimate of $400 million. The funds will primarily support the acquisition of Decipher Biosciences, Inc. and for general corporate purposes. The offering is expected to close on or around February 9, 2021, pending standard conditions. The underwriters have a 30-day option for an additional 1,114,864 shares.

Veracyte, Inc. (Nasdaq: VCYT) has launched an underwritten public offering to sell $400 million in common stock, with an option for underwriters to purchase an additional $60 million. Proceeds will primarily fund the acquisition of Decipher Biosciences, Inc., alongside working capital and general corporate purposes. The offering is backed by Goldman Sachs & Co. LLC and SVB Leerink LLC as lead managers. The shares will be issued under an effective shelf registration statement filed with the SEC.

Veracyte (Nasdaq: VCYT) has announced its acquisition of Decipher Biosciences, a leader in precision oncology focused on urologic cancers, for $600 million. This deal, comprising $250 million in cash and up to $350 million in stock, aims to enhance Veracyte's genomic testing capabilities across seven prevalent cancers in the U.S. Decipher's revenue grew over 130% in 2020 to approximately $39-$40 million. The combined entity expects annualized revenue of about $186 million and an expanded addressable market from $10 billion to $12 billion. Completion is anticipated by May 2021, pending regulatory approval.