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Veracyte Stock: Volatility After-Hours Due to Promising Phase 3 Trial Results on Decipher Prostate Genomic Classifier

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Veracyte, Inc. (NASDAQ: VCYT) experienced share volatility after-hours on Wednesday following the announcement of new data from a phase 3 trial that validates the effectiveness of the Decipher Prostate Genomic Classifier in assisting physicians in making informed treatment decisions for their patients with prostate cancer.

Promising Trial Results

During the 2023 American Society for Radiation Oncology (ASTRO) Annual Meeting, Veracyte presented data that suggests the Decipher Prostate test can more accurately categorize the risk of patients with clinically high-risk disease, enabling more targeted treatment approaches.

This new data adds to the already substantial body of evidence, including 12 phase 3 randomized trials, which demonstrate the strong performance of the Decipher Prostate classifier as a reliable tool for guiding therapeutic decisions in prostate cancer. Elai Davicioni, Veracyte’s medical director for Urology, highlighted the significance of these findings, stating, β€œThey reinforce that the substantial level of evidence supporting the Decipher Prostate test can help guide its selection and utilization for patients with prostate cancer.”

Market Reaction

Veracyte’s stock (VCYT) showed volatility in after-hours trading, with a modest increase of 0.19% to reach $21.52, according to Benzinga Pro.

Image by Adam Novak from Pixabay

Keywords: Veracyte, VCYT stock, phase 3 trial, Decipher Prostate Genomic Classifier, physicians, treatment decisions, prostate cancer, American Society for Radiation Oncology (ASTRO), targeted treatment, evidence, market reaction

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