Company: VCYT
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001384101-25-000110
Chunk: 98

Company: VERACYTE, INC.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 98
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 and decreased $1.3 million, or 30%, for the six months ended June 30, 2025 compared to the same periods in 2024, driven primarily by lower volume of kit sales.

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Cost of biopharmaceutical and other revenue includes labor costs, laboratory supplies and pass-through expenses incurred. Cost of biopharmaceutical and other revenue for the three and six months ended June 30, 2025 decreased by $0.2 million and $0.4 million, respectively, compared to the same periods in 2024, driven by reductions of staffing and variable expenses related to projects. 

Research and development

Comparison of the three and six months ended June 30, 2025 and 2024 is as follows (in thousands of dollars, except percentages):

 Three Months Ended June 30,Six Months Ended June 30, 20252024Change%20252024Change%Research and development expense:        Compensation expense$9,063 $8,365 $698 8 %$18,812 $17,450 $1,362 8 %Direct research and development expense3,292 5,243 (1,951)(37)%7,434 9,117 (1,683)(18)%Depreciation and amortization437 248 189 76 %868 486 382 79 %Other expenses1,443 1,091 352 32 %2,824 2,371 453 19 %Allocations2,029 1,518 511 34 %4,046 3,006 1,040 35 %Total$16,264 $16,465 $(201)(1)%$33,984 $32,430 $1,554 5 %

Research and development expense decreased $0.2 million, or 1%, for the three months ended June 30, 2025 compared to the same period in 2024. The decrease was primarily due to the timing of direct research and product development expense related to our on-going development costs for our IVD and MRD strategies, as well as projects to enhance laboratory efficiencies that were offset by increased headcount expenses. In addition to these costs, there was an increase in our allocated costs from general and administrative expenses.

Research and development expense increased $1.6 million, or