Veracyte up 3% on positive nasal swab test data

Veracyte (VCYT +3.1%) is up on average volume in reaction to its announcement of preliminary clinical data supporting the value proposition of its noninvasive nasal swab test for lung cancer. The results are being presented at the CHEST Meeting in New Orleans.

Based on a group of 261 patients with lung nodules found on CT scans, the company’s test classified over 40% as low risk for cancer, implying sensitivity (correctly identifying true positives) of over 95%. The test’s sensitivity in patients with malignant nodules was 94%.

The company says that researchers in the study believe that the nasal swab test would identify over 70% more low-risk patients and 18% more high-risk compared to clinical risk calculators.

Management will host a conference call today at 5:00 pm ET to discuss Q3 results and provide a general business update.

https://seekingalpha.com/news/3507854-veracyte-3-percent-positive-nasal-swab-test-data