Veracyte sees FY24 revenue $394M-$402M, consensus $391.5M

The company said, “Veracyte is initiating 2024 testing and product revenue guidance of 13% to 15% growth, partially offset by declining biopharma and other revenue, resulting in total company revenue growth of 10% to 12%, or $394 million to $402 million. Further, 2024 cash, cash equivalents and short-term investments ending balance is expected to grow by 10% to 12%, in line with total company revenue growth, excluding approximately $8 million of one-time acquisition related items but including the expenses required to develop MRD assays.”