About Decipher Biosciences
Decipher Biosciences develops and commercializes genomic tests for prostate, bladder and other urologic cancers that have a direct impact on treatment decision-making, improve patient outcomes and ultimately reduce healthcare costs.On February 3rd, 2021, Decipher Biosciences was acquired by Veracyte in a valuation of $600M.
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Research containing Decipher Biosciences
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CB Insights Intelligence Analysts have mentioned Decipher Biosciences in 2 CB Insights research briefs, most recently on May 28, 2020.
Expert Collections containing Decipher Biosciences
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Decipher Biosciences is included in 7 Expert Collections, including Digital Health.
Startups recreating how healthcare is delivered
This collection includes startups selling AI SaaS, using AI algorithms to develop their core products, and those developing hardware to support AI workloads.
Companies developing medical devices (per the IMDRF's definition of "medical device"). Includes software, lab-developed tests (LDTs), and combination products. *Columns updated as regularly as possible.
Companies researching, developing, or offering products & services that aid in the screening, prevention, diagnosis, management, and treatment of cancer.
Health Monitoring & Diagnostics
Companies developing or offering products that aid in the assessment, screening, diagnosis, or monitoring of a person's state of health/wellness. Excludes companies focused solely on fitness/sports performance
Companies involved in the capture, sequencing, and/or analysis of genomic, transcriptomic, proteomic, and/or metabolomic data
Decipher Biosciences Patents
Decipher Biosciences has filed 1 patent.
Prostate cancer, Oncology, Clusters of differentiation, Radiation therapy, Cancer treatments
Prostate cancer, Oncology, Clusters of differentiation, Radiation therapy, Cancer treatments
Latest Decipher Biosciences News
Nov 2, 2022
Grew Total Revenue to $75.6 million, an Increase of 25% Conference Call and Webcast Today at 4:30 p.m. ET November 02, 2022 04:05 PM Eastern Daylight Time SOUTH SAN FRANCISCO, Calif.--( BUSINESS WIRE )--Veracyte, Inc. (Nasdaq: VCYT) today announced financial results for the third quarter ended September 30, 2022. “Our third quarter results were robust given test adoption growth across our key products, new reimbursement contracts and expanded clinical evidence for our tests,” said Marc Stapley, Veracyte’s chief executive officer. “We continue to invest in our long-term growth drivers, while maintaining our firm focus on financial discipline. I’m delighted with our team’s progress as we pursue our global vision of improving outcomes for patients all over the world through our exceptional diagnostic tests.” Key Business Highlights: Increased third quarter total revenue by 25% to $75.6 million, compared to the third quarter of 2021. Grew total test volume to 26,374, an increase of 26% compared to the third quarter of 2021. Bolstered commercial reimbursement: Received positive coverage decisions for the Decipher Prostate Genomic Classifier from three commercial payers representing over 20 million members, bringing the total number of covered lives for the test to 195 million; and Signed four new commercial payer contracts for the Afirma Genomic Sequencing Classifier, bolstering the test’s in-network coverage to over 230 million health plan members. Further reinforced the value and utility of our portfolio offerings through guideline inclusion and expanded clinical evidence: Received a “Level 1” evidence designation in the National Comprehensive Cancer Network® (NCCN®)’s update to the 2023 prostate cancer guidelines, making the Decipher Prostate Genomic Classifier the first and only prostate cancer gene expression test to achieve this status; Published data from a prospective, multi-site, Phase 2 clinical study in the Journal of the National Cancer Institute suggesting that the Decipher Prostate test may help identify African American men with early, localized prostate cancer who are most likely to harbor aggressive disease; Shared data from Phase 3 of the multi-center, randomized STAMPEDE trial at the European Society for Medical Oncology (ESMO) conference, which confirm the Decipher Prostate test’s ability to identify men with advanced prostate cancer who are more likely to benefit from intensified treatment, potentially expanding the test’s use; Presented data at the American Thyroid Association’s annual meeting suggesting that Veracyte’s Afirma thyroid database and whole-transcriptome capabilities may enable identification of genomic signatures to help predict tumor behavior in thyroid cancer; Presented data at the European Respiratory Society and American College of Chest Physicians (CHEST 2022) annual meetings suggesting the Envisia Genomic Classifier’s ability to provide prognostic information for people with suspected interstitial lung disease; Published a study in Nature Medicine examining the predictive and prognostic potential of Veracyte’s immuno-oncology biomarkers and insight into factors associated with response to CAR T-cell therapy among patients with large B-cell lymphoma; and Presented preliminary clinical utility data at the CHEST meeting for the Percepta Nasal Swab test, which suggest that the noninvasive genomic test may classify more lung nodule patients as low-risk or high-risk for lung cancer, as compared to the standard-of-care approach, which consists of a physician’s own assessment of clinical factors along with CT imaging. Appointed Eliav Barr, M.D., to our Board of Directors and named John Leite, Ph.D. as general manager for Pulmonology and Market Access. Generated $7.0 million in cash from operating activities and ended the third quarter of 2022 with cash, cash equivalents and short-term investments of $170.1 million, compared to $164.0 million at the end of the second quarter of 2022. Third Quarter 2022 Financial Results Total revenue for the third quarter of 2022 was $75.6 million, an increase of 25% compared to $60.4 million in the third quarter of 2021. Testing revenue was $64.6 million, an increase of 27% compared to $50.9 million in the third quarter of 2021 driven primarily by the strong performance of our Decipher and Afirma tests. Product revenue was $3.3 million, an increase of 12% compared to $3.0 million in the third quarter of 2021. Biopharmaceutical and other revenue was $7.7 million, an increase of 18% compared to $6.5 million in the third quarter of 2021, driven primarily by the contribution of the HalioDx acquisition. Total gross margin for the third quarter of 2022, including the amortization of acquired intangible assets, was 59%, compared to 57% in the third quarter of 2021. Non-GAAP gross margin, excluding the amortization of acquired intangible assets and other acquisition related expenses was 66%, compared to 64% in the third quarter of 2021. Operating expenses, excluding cost of revenue, were $54.6 million, an increase of 5% compared to the third quarter of 2021. Non-GAAP operating expenses, excluding cost of revenue, amortization of acquired intangible assets, other acquisition related expenses and other restructuring costs, were $51.1 million compared to $42.4 million in the third quarter of 2021. Net loss for the third quarter of 2022 was $8.7 million, an improvement of 38% compared to the third quarter of 2021. Basic and diluted net loss per common share was $0.12, an improvement of 40% compared to the third quarter of 2021. Net cash used by operating activities in the first nine months of 2022 was $2.2 million, an improvement of $37.9 million compared to the same period in 2021. A reconciliation of GAAP to non-GAAP financial measures has been provided in the tables included in this press release. An explanation of these measures is also included below under the heading "Note Regarding Use of Non-GAAP Financial Measures." 2022 Financial Outlook The company is raising full-year 2022 total revenue expectations to $288 million to $293 million, representing year-over-year growth of 31% to 33%, assuming currency rates as of November 2, 2022. This represents an improved outlook compared to our prior guidance of $272 million to $280 million. Conference Call and Webcast Details Veracyte will host a conference call and webcast today at 4:30 p.m. Eastern Time to discuss the company's financial results and provide a general business update. The conference call will be webcast live from the company’s website and will be available via the following link: https://edge.media-server.com/mmc/p/iigzqcix . The webcast should be accessed 10 minutes prior to the conference call start time. A replay of the webcast will be available for one year following the conclusion of the live broadcast and will be accessible on the company’s website at https://investor.veracyte.com/events-presentations . The conference call dial-in can be accessed by registering at the following link: https://register.vevent.com/register/BIdd8a25033ce74acb8bf03d2ed76733f0 About Veracyte Veracyte (Nasdaq: VCYT) is a global diagnostics company that improves patient care by answering important clinical questions to inform diagnosis and treatment decisions. Our growing menu of advanced diagnostic tests help patients avoid risky, costly procedures and interventions, and reduce time to appropriate treatment. In addition to making our tests available in the United States through our central laboratories, our exclusive license to our best-in-class diagnostics instrument (nCounter Analysis System) positions us to deliver our tests to patients worldwide through laboratories that can perform them locally. Veracyte is based in South San Francisco, California. For more information, please visit www.veracyte.com and follow the company on Twitter (@veracyte). Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements, including, but not limited to, our statements related to our expected total revenue and other financial and operating results for 2022 and our plans, objectives, expectations (financial and otherwise) or intentions with respect to our Prosigna, Afirma, Percepta, Envisia, LymphMark, Decipher Prostate, Percepta Nasal Swab, Percepta Genomic Atlas and Decipher Bladder tests and products, including our biopharma atlas, for use in diagnosing and treating diseases, Medicare coverage, and our commercial organization. Forward-looking statements can be identified by words such as: “appears,” "anticipate," "intend," "plan," "expect," "believe," "should," "may," "will," “positioned,” “designed” and similar references to future periods. Actual results may differ materially from those projected or suggested in any forward-looking statements. These statements involve risks and uncertainties, which could cause actual results to differ materially from our predictions, and include, but are not limited to: our ability to launch, commercialize and receive reimbursement for our products; to demonstrate the validity and utility of our genomic tests and biopharma offerings to continue to integrate and expand the HalioDx and Decipher businesses and execute on our business plans; to continue to scale our global operations and enhance our internal control environment; the impact of the COVID-19 pandemic and its variants on our business and general economic conditions; the impact of foreign currency fluctuations and inflation; and the performance and utility of our tests in the clinical environment. Additional factors that may impact these forward-looking statements can be found under the caption “Risk Factors” in our Annual Report on Form 10-K filed on February 28, 2022, and our Quarterly Report on Form 10-Q to be filed for the three months ended September 30, 2022. Copies of these documents, when available, may be found in the Investors section of our website at www.investor.veracyte.com . These forward-looking statements speak only as of the date hereof and, except as required by law, we specifically disclaim any obligation to update these forward-looking statements or reasons why actual results might differ, whether as a result of new information, future events or otherwise. Veracyte, the Veracyte logo, Decipher, Decipher GRID, Afirma, Percepta, Envisia, Prosigna, Lymphmark, TMExplore, Brightplex, Immunosign, “Know by Design” and “More about You” are registered trademarks of Veracyte, Inc. and its subsidiaries in the U.S. and selected countries. Immunoscore IC® is a trademark of Veracyte SAS registered in France. Immunoscore is a registered trademark of Inserm used by Veracyte under license. nCounter is the registered trademark of NanoString Technologies used by Veracyte under license. Note Regarding Use of Non-GAAP Financial Measures In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), this press release and the accompanying tables contain, and reference certain non‐GAAP results including non-GAAP gross margin, non-GAAP operating expenses, and non-GAAP loss from operations. These measures are not meant to be considered superior to or a substitute for financial measures calculated in accordance with GAAP, and investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an analytical tool. We use non-GAAP measures to internally evaluate and analyze financial results. We believe these non-GAAP financial measures provide investors with useful supplemental information about the financial performance of our business, enable comparison of financial results between periods where certain items may vary independent of business performance, and enable comparison of our financial results with other public companies, many of which present similar non-GAAP financial measures. However, the non-GAAP measures we present may be different from those used by other companies. We exclude amortization of acquired intangible assets, acquisition-related expenses relating to our acquisitions of Decipher Biosciences and HalioDx and certain costs related to restructuring from certain of our non-GAAP measures. Management has excluded the effects of these items in non-GAAP measures to help investors gain a better understanding of the core operating results and future prospects of the company, consistent with how management measures and forecasts the company's performance, especially when comparing such results to previous periods or forecasts. The company encourages investors to carefully consider its results under GAAP, as well as its supplemental non‐GAAP information and the reconciliation between these presentations, to more fully understand its business. Reconciliations between our GAAP results and non‐GAAP financial measures are presented in the tables of this release. VERACYTE, INC. 1. Includes transaction related expenses as well as post-combination compensation expenses. For 2021, adjustments consist primarily of transaction-related expenses associated with the acquisition of Decipher Biosciences. For 2022, adjustments consist primarily of post-combination compensation expenses associated with the acquisition of HalioDx. 2. Includes only amortization of intangible assets identified as developed technology assets through purchase accounting transactions, which otherwise would have been allocated to cost of revenue. 3. Includes only amortization of intangible assets, which otherwise would have been allocated to research and development, selling and marketing or general and administrative expense and excludes the cost of revenue ($74.8 and $51.5 million) and the amortization of intangible assets which would have been allocated to the cost of revenue ($14.5 and $9.6 million) for the first nine months of 2022 and 2021 respectively 4. Includes $3.3 million expense related to the impairment charge associated with certain developed technology intangible assets and $0.5 million related to restructuring costs
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Decipher Biosciences Frequently Asked Questions (FAQ)
When was Decipher Biosciences founded?
Decipher Biosciences was founded in 2008.
Where is Decipher Biosciences's headquarters?
Decipher Biosciences's headquarters is located at 10355 Science Center Drive, San Diego.
What is Decipher Biosciences's latest funding round?
Decipher Biosciences's latest funding round is Acquired.
How much did Decipher Biosciences raise?
Decipher Biosciences raised a total of $44.1M.
Who are the investors of Decipher Biosciences?
Investors of Decipher Biosciences include Veracyte, Aeris Capital, Gurnet Point Capital, Novartis Venture Funds, Baird Venture Partners and 5 more.
Who are Decipher Biosciences's competitors?
Competitors of Decipher Biosciences include CivaTech Oncology, Upromise, Exagen, Integrated Diagnostics, Foundation Medicine and 14 more.
Compare Decipher Biosciences to Competitors
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CellPoint Diagnostics is developing diagnostic, monitoring, and molecular analytical tools for cancer. Its technology captures and analyzes circulating tumor cells ("CTCs") directly from patient blood. Scientific and clinical data have demonstrated that CTCs are derived from the primary tumor, and the assessment of the number of CTCs in the blood has been shown to accurately predict survival for cancer patients.
Daktari Diagnostics develops products that deliver critical diagnostic information to clinicians and patients. Daktari's initial product is a handheld CD4 cell counter that aims to enable CD4 counting to be done by anyone. The company intends to bring this blood test to parts of the world where millions of people now have access to life-saving drugs, yet cannot begin treatment due to inadequate diagnostics.
Civatech Oncology is a medical device company focused on the development of polymer based devices that treat cancer using localized, low-dose-rate radiation. The company's fabrication methods allow for precise encapsulation of radioactive materials into polymer structures. These polymer-based brachytherapy devices offer physicians treatment options for tumors with low-dose-rate brachytherapy.
At Nanogen, Inc., the company develop diagnostic products that enable physicians to deliver improved patient care. The company's products allow faster and easier diagnosis, treatment and monitoring of cardiovascular disease and infectious diseases. These products include molecular diagnostic kits and reagents, and rapid test kits, which can be used in urgent care settings or at the point-of-care. Nanogen has pioneered developments in areas involving biomarkers, molecular biology and nanotechnology. The company's business focus is to bring better results to diagnostics and healthcare.
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