Why Is Veracyte Stock Moving Today?
Veracyte acquired Convergent Genomics and its UroAmp urine test for $150 million in cash plus up to $30 million in milestones, with a first test planned for late 2028. The stock closed up 0.83% before the news.
- Veracyte pays $150 million in cash upfront and up to $30 million more tied to UroAmp reimbursement.
- UroAmp, a urine tumor DNA test validated in non-muscle invasive bladder cancer, is planned for a first launch in late 2028.
- The regular session closed up 0.83% before the news; one 560-share after-hours print came 2.936% lower (measured).
Reaction by asset (real prices)
| Asset | 2m before | At release | +1m | +session | +1m % | +session % |
|---|---|---|---|---|---|---|
| VCYT | 41.21 | 41.21 | 41.21 | 40.00 | 0.00% | -2.94% |
Veracyte stock is moving after hours on news that the company acquired Convergent Genomics, maker of the UroAmp urine tumor DNA test for bladder cancer, for $150 million in cash upfront plus up to $30 million tied to reimbursement milestones. The deal crossed MoveSurge's tape at 16:05:00 ET, after Veracyte closed the regular session at $41.21, up 0.83%; in the next ten minutes of after-hours trading the only trade was 560 shares at $40.00 at 16:13 ET, 2.936% below the close (measured).
What Veracyte is paying, and when UroAmp is due to launch
| Term | Convergent Genomics deal |
|---|---|
| Upfront | $150 million in cash |
| Milestones | Up to $30 million in cash, tied to UroAmp reimbursement |
| Total potential value | Up to $180 million |
| First test launch | Late 2028, subject to reimbursement timelines |
| 2026 adjusted EBITDA guidance | Unchanged; Convergent's operating costs were already included |
The upfront payment equals 30.92% of the $485.2 million in cash, cash equivalents and short-term investments Veracyte held at June 30, 2026, and operating activities generated $81.0 million of cash in the first half. Veracyte does not expect to sell the first UroAmp test until late 2028, and the milestone money depends on reimbursement, so UroAmp is not expected to add revenue before then.
Where UroAmp fits in Veracyte's bladder cancer lineup
UroAmp reads tumor DNA shed into urine. It has been clinically validated in non-muscle invasive bladder cancer for monitoring response to therapy and for surveillance after treatment. Convergent Genomics was founded in 2015 with Oregon Health & Science University and Illumina Accelerator.
Veracyte already sells the Decipher Bladder genomic classifier, and its whole-genome minimal residual disease platform, which came from the C2i Genomics acquisition, has muscle-invasive bladder cancer as its first application. Decipher is the company's largest franchise: its revenue grew 20% to $91.9 million in the second quarter, when total revenue rose 15% to $150.3 million and Veracyte raised its 2026 revenue guidance to $590 million to $596 million.
Two bladder cancer deals, paid for differently
| C2i Genomics | Convergent Genomics | |
|---|---|---|
| Completed | February 6, 2024 | September 14, 2026 |
| Upfront | $70 million in 2.7 million Veracyte shares | $150 million in cash |
| Milestones | Up to $25 million, in shares or cash | Up to $30 million in cash |
| Total potential value | Up to $95 million | Up to $180 million |
Veracyte paid for C2i mostly with new stock in 2024. It paid the Convergent upfront in cash, so that payment adds no new shares.
How the stock traded
Veracyte closed the regular session at $41.21, up 0.83%, before the deal was public. The announcement came at 16:05 ET. The after-hours tape then showed no trades for eight minutes, followed by 560 shares at $40.00 at 16:13 ET. That single print set the measured ten-minute after-hours reaction at 2.936% below the close.
Why is Veracyte stock moving today?
Veracyte acquired Convergent Genomics after the close for $150 million in cash plus up to $30 million in milestones. The stock closed the regular session at $41.21, up 0.83%, and the one after-hours trade in the next ten minutes was 2.936% below that close.
How much did Veracyte pay for Convergent Genomics?
$150 million in upfront cash and up to $30 million more in cash tied to UroAmp reimbursement milestones, for a total potential value of up to $180 million.
What is UroAmp?
UroAmp is Convergent Genomics' urine test that detects tumor DNA. It has been clinically validated in non-muscle invasive bladder cancer for therapy-response monitoring and post-treatment surveillance.
When will Veracyte launch the UroAmp test?
Veracyte plans to commercialize its first UroAmp-based test in late 2028, subject to reimbursement timelines.
Sources
-
Veracyte Acquires Convergent Genomics, Expanding its Urology Diagnostics Portfolio with a Urinary Tumor DNA Testing Platform
— GlobeNewswire
Veracyte acquired Convergent Genomics for $150 million upfront cash and up to $30 million in cash milestones tied to UroAmp reimbursement; UroAmp validated in NMIBC; first test commercialization planned for late 2028; 2026 adjusted EBITDA guidance not updated.
-
Veracyte Acquires Convergent Genomics for $150M Upfront
— StockTitan
Veracyte paid $150 million upfront for Convergent Genomics and its UroAmp urinary tumor DNA platform.
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Veracyte acquires Convergent Genomics for up to $180 million
— Investing.com
The Convergent Genomics acquisition is valued at up to $180 million.
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