Veracyte launches metastatic prostate cancer test

SOUTH SAN FRANCISCO, Calif. - Veracyte, Inc. (NASDAQ: VCYT), a genomic diagnostics company with a market capitalization of $2.51 billion and impressive revenue growth of 23.46% in the last twelve months, announced the introduction of the Decipher Prostate Metastatic Genomic Classifier, a new test for patients with metastatic prostate cancer. According to InvestingPro analysis, the company maintains strong financial health with a "GREAT" overall score of 3.38. The test, which is now available through an early access program at select clinical sites, will be broadly accessible for orders starting in June 2025.

The Decipher Prostate Metastatic test extends the application of Veracyte’s existing Decipher Prostate test, which was previously used for patients with localized prostate cancer. The new test represents the only gene expression test for metastatic prostate cancer covered by Medicare, aiming to guide treatment decisions across the full range of prostate cancer risk. With a robust gross profit margin of 69.48% and a healthy current ratio of 4.73, Veracyte demonstrates strong operational efficiency in its diagnostic testing business. For detailed financial analysis and 12+ additional ProTips, visit InvestingPro.

Prostate cancer is the second-leading cause of cancer deaths among men in the U.S., with an estimated 10% of diagnoses being metastatic, accounting for about 30,000 cases annually. The Decipher Prostate test is designed to aid clinicians in determining which patients might benefit from intensive treatments and which could avoid potential side effects.

The test’s clinical validity and utility for patients with metastatic prostate cancer have been supported by multiple Phase 3 clinical studies. These studies suggest that patients with higher Decipher scores may have more aggressive tumors and could benefit more from treatment intensification.

Veracyte’s Decipher Prostate Genomic Classifier evaluates the aggressiveness of prostate cancer using a 22-gene analysis performed on biopsy or surgical samples. The test has been featured in over 85 studies involving more than 200,000 patients and is the only gene expression test included in the NCCN Guidelines’ risk stratification table for prostate cancer.

Philip Febbo, M.D., Chief Scientific Officer and Chief Medical Officer at Veracyte, emphasized the company’s commitment to enhancing patient care through its diagnostic platform. With analysts projecting continued net income growth and the company currently trading near its Fair Value according to InvestingPro’s comprehensive analysis, Veracyte appears well-positioned to capitalize on its innovative diagnostic solutions. Access the full Pro Research Report, available for 1,400+ US stocks, for deeper insights into Veracyte’s growth trajectory and market position.

This news is based on a press release statement from Veracyte, Inc. and does not endorse any claims made. The information provided is intended for general knowledge and should not be relied upon as medical advice.

In other recent news, Veracyte, Inc. reported strong financial results for the fourth quarter of 2024, with earnings per share (EPS) of $0.36, significantly surpassing the forecast of $0.10, and quarterly revenue reaching $118.6 million. Despite this, the company did not provide full 2025 revenue guidance, citing evaluations of its French subsidiary’s ownership, though it did project testing revenue between $470 million and $480 million for 2025. Meanwhile, Veracyte’s Decipher Prostate Genomic Classifier data has been integrated into the National Cancer Institute’s SEER Program, potentially offering valuable insights for researchers. Analyst firms have shown varied responses to Veracyte’s performance; Needham maintained a Buy rating with a $51 target, highlighting the company’s solid fourth-quarter results, while Guggenheim adjusted its price target to $37 from $45, maintaining a Buy rating due to strong product growth. Craig-Hallum initiated coverage with a Buy rating and a $45 target, citing Veracyte’s market-leading products and strong financial metrics. These developments suggest a positive outlook for Veracyte, with analysts expressing confidence in the company’s growth and market strategy.

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