Veracyte

Veracyte will use its Afirma assay to analyze thyroid cancers and inform Loxo's drug development pipeline for targeted therapies.

The genomic testing firm beat the consensus top line estimates by reporting Q4 2017 revenues of $19.6 million and full-year 2017 revenues of $72.0 million.

The genomic testing company's total revenues were down to $17.5 million in the quarter, although its genomic testing volume increased 14 percent.

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.