Veracyte attributed its lower Afirma sales in part to slowing down the rollout of an updated version of the test that relies on RNA sequencing.
The genomic testing company's total revenues were down to $17.5 million in the quarter, although its genomic testing volume increased 14 percent.
The biggest losers following the release of the preliminary PAMA rates may be Quest and LabCorp, analysts said today.
Among its business highlights for the quarter, the firm established coverage for the Afirma genomic sequencing classifier by all major insurance plans.
The genomic test is designed to identify benign thyroid nodules in patients with indeterminate fine needle aspiration biopsy results.
The company missed analyst estimates on the top line, but beat expectations for loss per share during the quarter.
The firm touted recent Blues coverage decisions for the Afirma thyroid cancer test, and final Medicare coverage policies for the Percepta lung cancer test.
The firm said that the new coverage for its Afirma thyroid cancer test makes it a medically necessary benefit for nearly 24 million Blues plan members.
Veracyte said that Quest’s access to half of the physicians and hospitals in the US will provide patients with broader access to the Afirma GEC.
The firm said it expects that Noridian will similarly confirm its draft local coverage determination, bringing coverage for Percepta to around 35 million.
The US Food and Drug Administration has new guidelines that enable some gene and cell therapies to undergo expedited review, according to the New York Times.
Using gene drives to control invasive species might be too risky, an initial advocate of the approach says.
In Science this week: intellectual property experts argue patent battles such as the one over CRISPR are wasteful, and more.
Researchers have grown tumors in 3D cell cultures to better understand cancer, the Economist reports.