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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, 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.
Veracyte, Inc. (Nasdaq: VCYT) announced preliminary results for Q4 and FY 2020, projecting total revenue between $34.0 million and $35.0 million for the fourth quarter, and between $117.0 million and $118.0 million for the full year, reflecting a 16% increase in Q4 revenue year-over-year. Testing volume also rose by 14% compared to 2019. The company expects cash equivalents of $345.0 million to $350.0 million as of year-end. CEO Bonnie Anderson highlighted the team's performance and robust pipeline as key to future growth.
Veracyte, Inc (Nasdaq: VCYT) announced that its CEO Bonnie Anderson will present at the 23rd Annual Needham Virtual Growth Conference on January 13, 2021, at 4:15 p.m. ET. A live audio webcast of the presentation will be accessible via the company’s website, with a replay available for 90 days thereafter. Veracyte is a global genomic diagnostics company focused on improving patient care through advanced genomic testing for diseases such as cancer.
Bayer and Veracyte are collaborating to enhance the Precision Oncology Patient Identification Program for thyroid cancer. This initiative will utilize Veracyte's Afirma Xpression Atlas to detect genomic drivers, including NTRK gene fusions, in patients with advanced or radioactive iodine refractory (RAIR) thyroid cancer. The program will provide Afirma XA testing at no cost for eligible patients, supporting informed treatment decisions. Launched in Q1 next year, it aims to help patients with actionable alterations access targeted therapies, impacting approximately 53,000 annual thyroid cancer diagnoses in the U.S.
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