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. (NASDAQ: VCYT) is a leader in genomic diagnostics, developing advanced solutions that transform patient care through precision medicine. This dedicated news hub provides investors and healthcare professionals with timely updates on the company’s financial performance, clinical advancements, and strategic initiatives.
Access official press releases, earnings reports, and regulatory filings in one centralized location. Track developments across key areas including oncology testing innovations, global expansion efforts, and partnerships with leading research institutions. Our curated collection ensures you stay informed about milestones that shape VCYT’s role in advancing evidence-based diagnostic technologies.
Discover updates on new product clearances, peer-reviewed study publications, and executive leadership announcements. This resource is designed to support data-driven decision-making for stakeholders monitoring the evolving landscape of molecular diagnostics. Bookmark this page for direct access to primary source materials and analysis of Veracyte’s market position.
Veracyte (NASDAQ: VCYT) has announced significant findings published in European Urology Oncology regarding its Decipher Prostate Genomic Classifier. The study indicates that Decipher scores are highly correlated with PSMA PET upstaging in high-risk prostate cancer patients, suggesting that these patients may benefit from intensified systemic treatment. The Decipher Prostate score, ranging from 0 to 1, helps identify metastatic disease risk, with ongoing Phase 3 clinical trials (NRG-GU009, NRG-GU010) evaluating its role as a predictive biomarker. The findings emphasize the importance of accurately identifying high-risk patients to tailor treatment accordingly, potentially improving patient outcomes.
Veracyte, Inc. (Nasdaq: VCYT) will announce its financial results for Q1 2023 on May 4, 2023, after market close. A conference call will take place at 4:30 p.m. Eastern Time on the same day, where management will discuss the results and give a business update. Investors can participate via a link provided in the PR. Veracyte focuses on transforming cancer care through high-performance diagnostics, aiding clinicians in making informed decisions for challenging diseases, including various cancers and interstitial lung diseases. The company aims to make its tests available both in the U.S. and globally, enhancing patients’ diagnostic timelines and treatment options.
Veracyte (Nasdaq: VCYT) announced that seven abstracts showcasing findings from the Decipher urologic cancer tests will be presented at the American Urological Association (AUA) Annual Meeting from April 28 to May 1, 2023, in Chicago. The abstracts emphasize the clinical utility of the Decipher Prostate Genomic Classifier, aiding treatment decisions for prostate cancer patients. Notable presentations include studies on Molecular Correlates with PSMA Expression and the Association Between the Decipher Genomic Classifier and Prostate Cancer Outcome. Veracyte aims to utilize this research to enhance patient care and treatment outcomes, reinforcing its commitment to evidence-based cancer treatment.
Veracyte (Nasdaq: VCYT) announced it will present three abstracts on its multi-omics capabilities at the American Association for Cancer Research (AACR) Annual Meeting 2023, scheduled from April 14-19 in Orlando, Florida. The presentations will focus on advancements in oncology drug development, emphasizing tools like Brightplex and the Veracyte Biopharma Atlas. Notably, the abstracts cover topics such as single-cell resolution in tumor microenvironments and the integration of machine learning for colorectal cancer analysis. Veracyte aims to provide actionable insights for biopharma partners to enhance their development programs.
Veracyte, Inc. (NASDAQ: VCYT) has announced its financial standing as of December 31, 2022, following the Silicon Valley Bank events. The company reported $178.9 million in cash, cash equivalents, and short-term investments, primarily unaffected by the FDIC's actions regarding SVB. Veracyte maintains that its accessible financial resources will be adequate for ongoing operations and obligations. The company focuses on transforming cancer care, providing high-value diagnostic insights for various cancers and lung diseases, and aims to expand its testing capabilities globally.
Veracyte (NASDAQ: VCYT) has announced that CEO Marc Stapley and CFO Rebecca Chambers will present at two key investor conferences. The first is Cowen's 43rd Annual Health Care Conference in Boston on March 7, 2023, at 9:50 AM ET. The second event is the KeyBanc Virtual Life Sciences & MedTech Investor Forum on March 21, 2023, at 3:45 PM ET. Live webcasts of these presentations can be accessed via Veracyte’s website, with replays available for 90 days post-event. Veracyte aims to transform cancer care globally with innovative diagnostic tests that help clinicians make better decisions and improve patient outcomes.
Veracyte reported fourth quarter 2022 revenue of $80.3 million, up 19% from $67.3 million in Q4 2021, and total revenue for 2022 reached $296.5 million, a 35% increase year-over-year. Testing revenue for the quarter was $70.3 million, reflecting a 32% growth, driven by Decipher and Afirma tests. Despite a 39% decline in biopharmaceutical revenue, overall gross margin improved to 61%. The net loss for the quarter was $3.8 million, improved 63% year-over-year. For 2023, Veracyte projects total revenue between $325 million and $335 million, indicating mid-teens growth in testing and product revenues.
