The test uses changes in DNA methylation patterns for the early detection of lung cancer and is based on the same platform as the firm's bladder cancer test.
The firm has reached a deal with certain investors for the purchase of units comprising OncoCyte common shares and warrants to purchase shares.
Veracyte will offer 5 million shares at $10.25 per share. It has granted underwriters an option to purchase an additional 750,000 shares.
The firm beat analysts' consensus estimates on both the top and bottom lines, and it raised its 2018 annual revenue guidance.
The company will work with researchers at UCSD's Moores Cancer Center on two studies of patients with breast, lung, and colon cancers.
The coverage decision limits the test mainly to patients with advanced lung cancers who haven't been genomically profiled and who can't receive tissue testing.
The company is confident about bringing the test to market despite potential future competition and views it as an easy fit for its existing sales channels.
Researchers from Belgium analyzed the transcriptomes of almost 100,000 single cells from lung cancer patients, most of them stromal cells.
The deal gives Biodesix an additional test in the lung cancer space, Indi's XL2, which helps to classify lung nodules identified by imaging scans as benign or malignant.
The grant will support the consortium's ongoing efforts to clinically validate data analysis software for monitoring treatment responses to cancer vaccines.
The former commissioner of the FDA has returned to the venture capital firm New Enterprise Associates as a special partner on the healthcare investment team.
Astronauts have edited yeast genes on the International Space Station in an experiment designed to show how cells repair themselves in space.
Emory University has found that two of its researchers failed to divulge they had received funds from China, according to the Atlanta Journal-Constitution.
In Science this week: influence of the nuclear genome on human mitochondrial DNA, and more.