NEW YORK (GenomeWeb) – Veracyte reported after the close of the market on Monday that its second quarter revenues rose 25 percent year over year, driven in part by strong sales growth of its Afirma genomic classifier.
For the three months ended June 30, the company reported revenues of $18.4 million, up from $14.7 million in Q2 last year and beating the consensus Wall Street estimate of $18.3 million.
Bonnie Anderson, Veracyte’s chairman and CEO, said in a statement that the firm achieved key milestones during the quarter including establishing coverage for the Afirma classifier by all major insurance plans; launching the next-generation version of the classifier with improved performance; and significantly extending the firm’s market reach to physicians.
Anderson noted that the firm has “laid the foundation to reach our commercialization goals for the Percepta Bronchial Genomic Classifier in lung cancer diagnosis.”
In Q2, the company grew Afirma genomic classifier volume by 11 percent year over year.
The company said that it initiated the transition to the next-generation Afirma genomic sequencing classifier, which can save an estimated 70 percent of benign patients from unnecessary thyroid surgery to rule out thyroid cancer.
It said that it also initiated access to