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. (symbol: VCYT) is a pioneering genomic diagnostics company dedicated to significantly enhancing patient care through innovative diagnostic solutions. The company specializes in developing and providing genomic diagnostic products and services that improve clinical outcomes by resolving the uncertainties inherent in traditional diagnostic methods.
Veracyte's core business revolves around creating tests that offer more accurate diagnoses without resorting to risky, costly, and often unnecessary surgeries. By employing top-tier scientific rigor, state-of-the-art tools, and the brightest minds in the field, Veracyte delivers diagnostic solutions that bring clarity and assurance to patients and physicians alike.
The company's product portfolio includes the Afirma analysis, Percepta, Envisia, and other cutting-edge diagnostic tests. These products are designed to tackle diseases such as thyroid cancer, lung cancer, and idiopathic pulmonary fibrosis. Veracyte's diagnostic tests are distinguished by their ability to provide conclusive results where traditional methods fall short, thereby sparing patients from unnecessary surgical procedures.
Recent achievements highlight Veracyte's commitment to innovation and excellence. The company consistently introduces evidence that sets new standards in genomic tests, fundamentally altering current clinical practice norms. This commitment to scientific excellence ensures that Veracyte remains at the forefront of the genomic diagnostics industry.
Veracyte's impact extends beyond just clinical outcomes; it significantly influences the lives of both patients and physicians by offering a clearer path forward. Through continuous research, strategic partnerships, and an unwavering dedication to improving patient care, Veracyte stands out as a leader in the genomic diagnostics field.
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.
Veracyte, Inc. (Nasdaq: VCYT) has appointed Muna Bhanji, R.Ph., a seasoned healthcare executive, to its board of directors. With over 30 years in the biopharmaceutical field, Bhanji's expertise includes commercialization and market access strategies across global markets. CEO Bonnie Anderson expressed confidence in Bhanji's ability to support Veracyte's expansion, particularly with the upcoming international launch of the Envisia Genomic Classifier aimed at enhancing diagnostic capabilities for lung disease.
Veracyte has completed its acquisition of Decipher Biosciences for $600 million, enhancing its position in genomic diagnostics and expanding to address 7 of the 10 most common cancers in the U.S. This strategic move aims to accelerate revenue growth and improve patient outcomes by leveraging Decipher's expertise in urologic cancers alongside Veracyte's advanced testing platform. Dr. Tina Nova, former CEO of Decipher, will lead urologic cancers operations at Veracyte.
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.
FAQ
What is the current stock price of Veracyte (VCYT)?
What is the market cap of Veracyte (VCYT)?
What does Veracyte, Inc. specialize in?
What products does Veracyte offer?
How do Veracyte's tests improve clinical outcomes?
What recent achievements has Veracyte accomplished?
Who benefits from Veracyte's genomic diagnostic solutions?
In which diseases does Veracyte focus its diagnostic solutions?
What sets Veracyte apart from traditional diagnostic companies?
How does Veracyte impact clinical practice standards?
What is the significance of Veracyte's Afirma analysis?
Why is Veracyte considered a leader in genomic diagnostics?
