Veracyte (NASDAQ: VCYT) reported Q1 EPS of ($0.36), $0.01 worse than the analyst estimate of ($0.35). Revenue for the quarter came in at $13.6 million versus the consensus estimate of $13.08 million.

Cash and cash equivalents as of March 31, 2016 totaled $47.5 million, which included net proceeds of $19.2 million from Veracyte's financing with Visium Healthcare Partners, announced on March 28. Including the additional debt financing available from Visium, Veracyte had access to $62.5 million at the end of the first quarter.

"We experienced strong Afirma growth in the first quarter and are off to a terrific start in 2016," said Bonnie Anderson, president and chief executive officer of Veracyte. "Additionally, we achieved a strategic reimbursement milestone of signing a group-purchasing agreement that we believe will accelerate our ability to secure payer contracts for Afirma with key health plans this year. We expanded the published evidence to support Medicare coverage for the Percepta® Bronchial Genomic Classifier and also advanced our newly branded Envisia™ classifier for idiopathic pulmonary fibrosis toward fourth-quarter launch."

For earnings history and earnings-related data on Veracyte (VCYT) click here.