Veracyte gains on data supporting use of prostate cancer test to guide treatment decisions

** Shares of diagnostics company Veracyte VCYT.O rise 1.6% to $45.94 premarket

** Co says its Decipher test identified intermediate-risk prostate cancer patients most likely to benefit from adding hormone therapy to radiation

** Prostate cancer is a cancer of the prostate gland; hormone therapy lowers hormones that can help tumors grow

** Patients with intermediate/high Decipher scores saw an 8 percentage-point reduction in cancer spread at 10 years when hormone therapy was added, Veracyte says

** About 44% of patients had low scores and saw no significant benefit from added hormone therapy

** Findings are based on a retrospective analysis of 395 patients from a late-stage prostate cancer trial

** As of last close, stock down ~23% YTD