SAN FRANCISCO (GenomeWeb) – Despite missing its revenue guidance in the third quarter and lowering its full-year 2017 target, Veracyte CEO Bonnie Anderson said this week that the company is on the right track.
During a conference call discussing the firm’s third quarter earnings, Anderson anticipated that by the end of 2018 Veracyte would grow sales and have insurance coverage policies in place for all three of its genomic classifier tests.
Anderson said that the growth for Veracyte’s Afirma Gene Expression Classifier (GEC) test was slower than expected, but noted several steps the company plans to take to boost sales, and highlighted data presented at recent conferences on an updated version of Afirma as well as its other tests, Percepta and Envisia. She said the company just started booking revenue from Percepta in the third quarter and expects to begin seeing revenue from Envisia next year.
Veracyte launched an updated version of Afirma GEC earlier this year, but Anderson said that the company decided to take a more “measured approach to transitioning customers” than originally anticipated. Afirma GEC uses microarray technology to analyze gene expression to help resolve indeterminate results from fine-needle-aspiration biopsies for potential thyroid cancer. The new version