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. reports developments in cancer diagnostics, with recurring updates centered on its Veracyte Diagnostics Platform and genomic tests used in prostate, thyroid, bladder, and breast cancer. Company news frequently covers Decipher Prostate, Decipher Bladder, Afirma, Prosigna, and development work in whole-genome minimal residual disease and multi-omics applications.
Veracyte updates commonly include quarterly financial results, testing revenue and volume trends, clinical evidence presented at oncology and urology meetings, real-world data analyses, product-development capabilities, and leadership roles tied to assay development, software, bioinformatics, and AI-enabled diagnostics.
Veracyte, Inc. (Nasdaq: VCYT) reported first quarter 2024 financial results, achieving $96.8 million in total revenue, a 17% increase from the previous year. The company experienced a 25% growth in testing revenue and expanded its clinical evidence for Decipher Prostate and Afirma tests. Veracyte acquired C2i Genomics to develop an MRD test, received Medicare coverage for Afirma TERT promoter gene mutation test, and secured a contract with a major U.S. commercial payer. The company improved net loss, raised full-year 2024 revenue guidance to $402-$410 million, and expects $236-$240 million in cash, cash equivalents, and short-term investments by year-end.
Veracyte, Inc. presented data from 14 studies at AUA 2024 showing the effectiveness of Decipher Prostate and Decipher Bladder Genomic Classifiers in providing better prognostic information for patients with prostate and bladder cancer. The research-use-only Decipher GRID tool is also aiding in advancing scientific understanding of these diseases. The studies presented reinforce Veracyte's commitment to evidence-based tests and clinical utility. The Decipher Prostate test has shown the ability to better inform prostate cancer treatment, while the Decipher Bladder test is proving useful in predicting outcomes for bladder cancer patients.
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