VERACYTE, INC. (NASDAQ:VCYT) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement.
On October 16, 2017, Veracyte, Inc. (the “Company”) and Thyroid Cytopathology Partners, P.A., a Texas professional corporation (“TCP”) entered into an Amended and Restated Pathology Services Agreement (the “Amended Agreement”). The Amended Agreement replaces in full that certain Pathology Services Agreement dated November 12, 2010 between the Company and TCP’s predecessors in interest, Brazos Valley Pathology, P.A. d/b/a Reitpath, as amended by the First Amendment, Second Amendment and Third Amendment (as amended, the “Original Agreement”). to the Amended Agreement, TCP has the exclusive right to provide the Company with cytopathology professional services on thyroid FNA samples in the United States at a fixed price per test. The Amended Agreement also provides that TCP may co-locate in a portion of the Company’s facilities in Austin, Texas, and TCP has agreed to reimburse the Company for a proportionate share of the Company's rent and related operating expense costs. TCP can terminate the Amended Agreement, among other reasons, upon the Company’s failure to pay any amounts due under the contract, and either the Company or TCP can terminate the Amended Agreement, among other reasons, upon the insolvency of the other party, breach of the agreement by the other party, termination or breach of the service terms or the suspension or termination of the necessary regulatory licenses and approvals needed to perform the FNA services.
The Amended Agreement is effective until October 31, 2022, and thereafter automatically renews every year unless either party provides notice of intent not to renew at least twelve months prior to the end of the then-current term.
The foregoing description of the Amended Agreement does not purport to be complete and is qualified in its entirety by reference to such agreement, a copy of which the Company expects to file as an exhibit to the Company’s Annual Report on Form10-K for the year ending December 31, 2017.
About VERACYTE, INC. (NASDAQ:VCYT)
Veracyte, Inc. is a genomic diagnostics company. The Company uses genomic technology to resolve diagnostic ambiguity. It targets diseases in which patients undergo invasive diagnostic procedures. Its products combine genomic technology, clinical science and machine learning. The Company commercializes over three genomic tests, which are transforming the diagnosis of thyroid cancer, lung cancer and idiopathic pulmonary fibrosis. The Company’s commercial solution, the Afirma Thyroid fine needle aspiration (FNA) Analysis, centers on the Afirma Gene Expression Classifier (GEC). The Afirma GEC is offered directly or as part of a solution that also includes cytopathology. The Company operates in the pulmonology diagnostics market. It offers Percepta Bronchial Genomic Classifier, a genomic test to resolve ambiguity in lung cancer diagnosis. It also offers the Envisia Genomic Classifier, which is designed to help in the assessment of patients suspected to have idiopathic pulmonary fibrosis.