The study demonstrates that Veracyte's new test improves upon an earlier version in its ability to identify thyroid nodules that are likely to be benign.
The Envisia test uses RNA sequencing and machine learning to diagnose idiopathic pulmonary fibrosis.
The company recognized $20 million in Q1 revenues and grew its testing volume by 18 percent.
Veracyte will use its Afirma assay to analyze thyroid cancers and inform Loxo's drug development pipeline for targeted therapies.
The company plans to launch an RNA sequencing-based test to help subtype and determine treatment for thyroid cancer, and a test to detect noninvasive lung cancer.
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.
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.
Sometimes genetic tests give inconclusive results and provide little reassurance to patients, the Associated Press reports.
Vox wonders whether gene-editing crops will be viewed similarly as genetically modified organisms of if people will give them a try.
In Science this week: research regulation and reporting requirement reform, and more.
With H3Africa, Charles Rotimi has been working to bolster the representation of African participants and African researchers in genomics, Newsweek reports.