Veracyte (VCYT) 10-Q 2 Nov 20 2020 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Oct. 28, 2020
Document Information [Line Items]
Entity Central Index Key	0001384101
Entity Registrant Name	VERACYTE, INC.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2020
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	001-36156
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-5455398
Entity Address, Address Line One	6000 Shoreline Court, Suite 300
Entity Address, City or Town	South San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94080
City Area Code	650
Local Phone Number	243-6300
Title of 12(b) Security	Common Stock, par value, $0.001 per share
Trading Symbol	VCYT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		57,897,321

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 345,080	$ 159,317
Accounts receivable	17,629	19,329
Supplies	4,456	6,806
Prepaid expenses and other current assets	3,150	2,235
Total current assets	370,315	187,687
Property and equipment, net	8,914	8,933
Right-of-use assets - operating lease	8,094	8,808
Finite-lived intangible assets, net	61,197	65,019
Goodwill	2,725	2,725
Restricted cash	603	603
Other assets	2,303	1,437
Total assets	454,151	275,212
Current liabilities:
Accounts payable	1,932	2,328
Accrued liabilities	10,445	13,734
Current portion of operating lease liability	1,542	1,407
Total current liabilities	13,919	17,469
Long-term debt	756	694
Acquisition-related contingent consideration	6,420	6,088
Operating lease liability, net of current portion	10,331	11,506
Total liabilities	31,426	35,757
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.001 par value; 5,000,000 shares authorized, no shares issued and outstanding as of September 30, 2020 and December 31, 2019	0	0
Common stock, $0.001 par value; 125,000,000 shares authorized, 57,813,833 and 49,625,341 shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively	58	50
Additional paid-in capital	696,217	486,090
Accumulated deficit	(273,550)	(246,685)
Total stockholders’ equity	422,725	239,455
Total liabilities and stockholders’ equity	$ 454,151	$ 275,212

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	125,000,000	125,000,000
Common stock, shares issued (in shares)	57,813,833	49,625,341
Common stock, shares outstanding (in shares)	57,813,833	49,625,341

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenue:
Total Revenue	$ 31,121	$ 30,973	$ 82,947	$ 90,638
Operating expenses:
Research and development	4,042	3,643	12,618	10,408
Selling and marketing	10,955	13,088	39,240	39,508
General and administrative	8,546	6,624	24,316	20,448
Intangible asset amortization	1,274	267	3,822	800
Total operating expenses	35,187	32,736	110,264	97,568
Loss from operations	(4,066)	(1,763)	(27,317)	(6,930)
Interest expense	(55)	(58)	(175)	(596)
Other income (loss), net	(3)	1,091	627	2,385
Net loss and comprehensive loss	$ (4,124)	$ (730)	$ (26,865)	$ (5,141)
Net loss per common share, basic and diluted (in dollars per share)	$ (0.08)	$ (0.02)	$ (0.52)	$ (0.11)
Shares used to compute net loss per common share, basic and diluted (in shares)	54,858,052	48,588,296	51,632,750	45,141,502
Testing [Member]
Revenue:
Total Revenue	$ 28,270	$ 26,723	$ 70,473	$ 78,798
Operating expenses:
Cost of revenue	9,118	9,114	26,157	26,404
Product [Member]
Revenue:
Total Revenue	2,027	0	7,149	0
Operating expenses:
Cost of revenue	1,048	0	3,539	0
Biopharmaceutical [Member]
Revenue:
Total Revenue	824	2,250	5,325	7,840
Operating expenses:
Cost of revenue	204	0	572	0
Collaborative [Member]
Revenue:
Total Revenue	$ 0	$ 2,000	$ 0	$ 4,000

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2018	40,863
Balance at Dec. 31, 2018	$ 41	$ 313,800	$ (234,086)	$ 79,755
Sale of common stock in a public offering, net of offering costs (in shares)	6,325
Sale of common stock in a public offering, net of offering costs	$ 6	137,842	0	137,848
Issuance of common stock upon exercise of stock options and vesting of restricted stock units (in shares)	1,498
Issuance of common stock upon exercise of stock options and vesting of restricted stock units	$ 2	11,139	0	11,141
Issuance of common stock under ESPP (in shares)	136
Issuance of common stock under ESPP	$ 0	1,266	0	1,266
Tax portion of vested restricted stock units	0	(810)	0	(810)
Stock-based compensation expense (employee)	0	6,255	0	6,255
Stock-based compensation expense (non-employee)	0	138	0	138
Stock-based compensation expense (ESPP)	0	572	0	572
Net loss and comprehensive loss	$ 0	0	(5,141)	(5,141)
Balance (in shares) at Sep. 30, 2019	48,822
Balance at Sep. 30, 2019	$ 49	470,202	(239,227)	231,024
Balance (in shares) at Jun. 30, 2019	48,255
Balance at Jun. 30, 2019	$ 48	462,689	(238,497)	224,240
Issuance of common stock upon exercise of stock options and vesting of restricted stock units (in shares)	511
Issuance of common stock upon exercise of stock options and vesting of restricted stock units	$ 1	4,231	0	4,232
Issuance of common stock under ESPP (in shares)	56
Issuance of common stock under ESPP	$ 0	774	0	774
Tax portion of vested restricted stock units	0	(132)	0	(132)
Stock-based compensation expense (employee)	0	2,324	0	2,324
Stock-based compensation expense (non-employee)	0	62	0	62
Stock-based compensation expense (ESPP)	0	254	0	254
Net loss and comprehensive loss	$ 0	0	(730)	(730)
Balance (in shares) at Sep. 30, 2019	48,822
Balance at Sep. 30, 2019	$ 49	470,202	(239,227)	231,024
Balance (in shares) at Dec. 31, 2019	49,625
Balance at Dec. 31, 2019	$ 50	486,090	(246,685)	239,455
Sale of common stock in a public offering, net of offering costs (in shares)	6,900
Sale of common stock in a public offering, net of offering costs	$ 7	193,824	0	193,831
Issuance of common stock upon exercise of stock options and vesting of restricted stock units (in shares)	1,187
Issuance of common stock upon exercise of stock options and vesting of restricted stock units	$ 1	8,073	0	8,074
Issuance of common stock under ESPP (in shares)	102
Issuance of common stock under ESPP	$ 0	2,037	0	2,037
Tax portion of vested restricted stock units	0	(3,161)	0	(3,161)
Stock-based compensation expense (employee)	0	8,591	0	8,591
Stock-based compensation expense (non-employee)	0	35	0	35
Stock-based compensation expense (ESPP)	0	728	0	728
Net loss and comprehensive loss	$ 0	0	(26,865)	(26,865)
Balance (in shares) at Sep. 30, 2020	57,814
Balance at Sep. 30, 2020	$ 58	696,217	(273,550)	422,725
Balance (in shares) at Jun. 30, 2020	50,446
Balance at Jun. 30, 2020	$ 50	495,523	(269,426)	226,147
Sale of common stock in a public offering, net of offering costs (in shares)	6,900
Sale of common stock in a public offering, net of offering costs	$ 7	193,824	0	193,831
Issuance of common stock upon exercise of stock options and vesting of restricted stock units (in shares)	427
Issuance of common stock upon exercise of stock options and vesting of restricted stock units	$ 1	3,328	0	3,329
Issuance of common stock under ESPP (in shares)	41
Issuance of common stock under ESPP	$ 0	935	0	935
Tax portion of vested restricted stock units	0	(483)	0	(483)
Stock-based compensation expense (employee)	0	3,032	0	3,032
Stock-based compensation expense (non-employee)	0	15	0	15
Stock-based compensation expense (ESPP)	0	43	0	43
Net loss and comprehensive loss	$ 0	0	(4,124)	(4,124)
Balance (in shares) at Sep. 30, 2020	57,814
Balance at Sep. 30, 2020	$ 58	$ 696,217	$ (273,550)	$ 422,725

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Sep. 30, 2019
Sale of common stock, issuance costs	$ 13,169	$ 13,169	$ 9,208

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Operating activities
Net loss	$ (26,865)	$ (5,141)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	5,919	2,836
Gain on disposal of property and equipment	0	(23)
Stock-based compensation	9,354	6,965
Amortization of debt issuance costs	0	83
Interest on end-of-term debt obligation	162	174
Write-down of excess supplies	1,088	0
Noncash lease expense	714	810
Revaluation of acquisition-related contingent consideration	332	0
Effect of foreign currency on operations	(17)	0
Changes in operating assets and liabilities:
Accounts receivable	1,742	(10,445)
Supplies	1,262	(3,206)
Prepaid expenses and other current assets	(923)	185
Other assets	134	(142)
Operating lease liability	(1,040)	(881)
Accounts payable	(534)	2,505
Accrued liabilities	(3,300)	1,258
Net cash used in operating activities	(11,972)	(5,022)
Investing activities
Purchases of property and equipment	(1,949)	(1,656)
Purchase of equity securities	(1,000)	0
Proceeds from disposal of property and equipment	0	23
Net cash used in investing activities	(2,949)	(1,633)
Financing activities
Proceeds from the issuance of common stock in a public offering, net	193,831	137,848
Payment of long-term debt	(100)	(24,900)
Payment of finance lease liability	0	(229)
Payment of taxes on vested restricted stock units	(3,161)	(810)
Proceeds from the exercise of common stock options and employee stock purchases	10,114	12,413
Net cash provided by financing activities	200,684	124,322
Net increase in cash, cash equivalents and restricted cash	185,763	117,667
Cash, cash equivalents and restricted cash at beginning of period	159,920	78,598
Cash, cash equivalents and restricted cash at end of period	345,683	196,265
Supplementary cash flow information:
Purchases of property and equipment included in accounts payable and accrued liability	355	821
Interest paid on debt	3	330
Cash and cash equivalents	345,080
Restricted cash	603
Cash, cash equivalents and restricted cash at end of period	$ 345,683	$ 196,265

Note 1 - Organization, Descript

Note 1 - Organization, Description of Business and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	1. Veracyte, Inc., or Veracyte, or the Company, is a global genomic diagnostics company that improves patient care by providing answers to clinical questions to inform diagnosis and treatment decisions throughout the patient journey in cancer and other diseases. The Company’s growing menu of genomic tests leverage advances in genomic science and technology to change care for patients, enabling them to avoid risky, costly procedures and quicken time to appropriate treatment. With Veracyte’s exclusive global access to a best-in-class diagnostics instrument platform, the Company is positioned to deliver its tests to patients worldwide through laboratories and hospitals that can perform the tests locally. Veracyte was incorporated in the state of Delaware on August 15, 2006 2008. March 4, 2008, one The Company offers genomic tests in four Thyroid Cancer - Afirma Genomic Sequencing Classifier and Xpression Atlas. The Afirma Xpression Atlas complements the Afirma GSC by providing genomic alteration content from the same FNA samples used in Afirma GSC testing to help physicians decide with greater confidence on the surgical or therapeutic pathway for their patients. The Company commercially launched the Afirma Xpression Atlas in 2018 April 2020 Lung Cancer - Percepta Genomic Sequencing Classifier. second June 2019. may may IPF - Envisia Genomic Classifier. Breast Cancer - Prosigna Breast Cancer Prognostic Gene Signature Assay. December 2019 50 PAM50 ten The Company performs its genomic tests for thyroid cancer, lung cancer and IPF in its CLIA-certified laboratory in South San Francisco, California. In December 2019, The Company’s approach also provides multiple opportunities for partnerships with biopharmaceutical and diagnostic testing companies. In developing its products, the Company has built or gained access to unique biorepositories, proprietary technology and bioinformatics that it believes are important to the development of new targeted therapies, determining clinical trial eligibility and guiding treatment selection. Additionally, the Company believes that the nCounter system, with its ability to simultaneously analyze RNA, DNA or protein targets in up to 800 Basis of Presentation The Company’s condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States, or GAAP. Certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. The condensed consolidated balance sheet as of September 30, 2020 three nine September 30, 2020 2019 three nine September 30, 2020 2019 nine September 30, 2020 2019 December 31, 2019 three nine September 30, 2020 not The accompanying interim period condensed consolidated financial statements and related financial information included in this Quarterly Report on Form 10 10 December 31, 2019 Reclassifications Certain prior period balances have been reclassified to conform to current period presentation of the Company’s condensed consolidated financial statements and accompanying notes. Such reclassifications have no September 30, 2019 Use of Estimates The preparation of unaudited interim financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Items subject to such estimates include: revenue recognition; write-down of supplies; the useful lives of property and equipment; the recoverability of long-lived assets; the incremental borrowing rate for leases; the estimation of the fair value of intangible assets and contingent consideration; variable interest entity assessment; impairment of equity investment, at cost; stock options; income tax uncertainties, including a valuation allowance for deferred tax assets; reserve on accounts receivable and contingencies. The Company bases these estimates on historical and anticipated results, trends, and various other assumptions that the Company believes are reasonable under the circumstances, including assumptions as to future events. These estimates form the basis for making judgments about the carrying values of assets and liabilities and recorded revenue and expenses that are not Issuance of Common Stock in a Public Offering On August 7, 2020, On May 7, 2019, Cash and Cash Equivalents The Company considers demand deposits in a bank, money market funds and highly liquid investments with an original maturity of 90 three third September 30, 2020 Equity Investment In July 2020, $1.0 not not not not 321, September 30, 2020 September 30, 2020. Concentrations of Credit Risk and Other Risks and Uncertainties The worldwide spread of coronavirus, or COVID- 19, no 19 may 19 19 may 19 The majority of the Company’s cash and cash equivalents are deposited with one may not Several of the components of the Company’s sample collection kits and test reagents, and the nCounter system and related diagnostic kits are obtained from single-source suppliers. If these single-source suppliers fail to satisfy the Company’s requirements on a timely basis, it could suffer delays in being able to deliver its diagnostic solutions, a possible loss of revenue, or incur higher costs, any of which could adversely affect its operating results. The Company is also subject to credit risk from its accounts receivable related to its sales. Credit risk for accounts receivable from testing revenue is incorporated in testing revenue accrual rates as the Company assesses historical collection rates and current developments to determine accrual rates and amounts the Company will ultimately collect. The Company generally does not not not September 30, 2020 Through September 30, 2020 third 10% Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Medicare 25 % 26 % 24 % 24 % Johnson and Johnson Services, Inc. * 13 % * 12 % UnitedHealthcare 11 % 11 % 11 % 11 % 36 % 50 % 35 % 47 % *Less than 10% The Company’s third 10% September 30, 2020 December 31, 2019 Johnson and Johnson Services, Inc. * 10 % Medicare 12 % 15 % UnitedHealthcare 10 % * *Less than 10% Restricted Cash The Company had deposits of $603,000 included in long-term assets as of September 30, 2020 December 31, 2019 Revenue Recognition Testing Revenue The Company recognizes testing revenue in accordance with the provisions of ASC 606, 606. During 2020, three nine September 30, 2020 zero three nine September 30, 2020 During 2019, three nine September 30, 2019 zero three nine September 30, 2019 Product Revenue The Company began recognizing product revenue in December 2019, 4 Product revenue from instruments and diagnostic kits is recognized generally upon shipment or when the instrument is ready for use by the end customer, which is when title of the product has been transferred to the customer. This process involves identifying the contract with a customer, determining the performance obligations in the contract, determining the contract price, allocating the contract price to the distinct performance obligations in the contract, and recognizing revenue when the performance obligations have been satisfied. A performance obligation is considered distinct from other obligations in a contract when it provides a benefit to the customer either on its own or together with other resources that are readily available to the customer and is separately identified in the contract. Performance obligations are considered satisfied once the Company has transferred control of a product to the customer, meaning the customer has the ability to use and obtain the benefit of the product. The Company recognizes product revenue for satisfied performance obligations only when there are no Biopharmaceutical and Collaboration Revenue From time to time, the Company enters into arrangements for research and development and/or laboratory services. Such arrangements may In arrangements involving more than one The consideration allocated to each distinct performance obligation is recognized as revenue when control of the related goods is transferred or services are performed. Consideration associated with at-risk substantive performance milestones is recognized as revenue when it is probable that a significant reversal of the cumulative revenue recognized will not Collaborative Arrangements The Company enters into collaborative arrangements with partners that fall under the scope of ASC Topic 808, 808. 808, may 606 606 The terms of the Company’s collaborative arrangements typically include one may Net sales of data or other services to our customers are classified under biopharmaceutical revenue, and all other non-customer revenue are classified under collaboration revenue in our consolidated statements of operations and comprehensive loss. There was no collaboration revenue in the three nine September 30, 2020 As part of the accounting for these arrangements, the Company must develop estimates and assumptions that require judgment to determine the underlying stand-alone selling price for each performance obligation which determines how the transaction price is allocated among the performance obligations. Generally, the estimation of the stand-alone selling price may Up-front Fees: If a license to the Company’s intellectual property is determined to be distinct from the other performance obligations identified in the arrangement, the Company recognizes revenues from the transaction price allocated to the license when the license is transferred to the licensee and the licensee is able to use and benefit from the license. For licenses that are bundled with other promises, the Company utilizes judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time. Milestone Payments: At the inception of each arrangement that includes milestone payments (variable consideration), the Company evaluates whether the milestones are considered probable of being reached and estimates the amount to be included in the transaction price using the most likely amount method. If it is probable that a significant revenue reversal would not not not may Services Agreement with Loxo Oncology On April 9, 2018, one one may September 30, 2020 not 606 nine September 30, 2019 nine September 30, 2020 three nine September 30, 2020 not September 30, 2020 December 31, 2019 Diagnostic Development Agreement with Johnson & Johnson On December 28, 2018, v.2, two v.2 not Under the terms of the agreement, the Company will provide data from its RNA whole-transcriptome sequencing platform to JJSI in exchange for $7.0 million in payments from JJSI. The Company is also entitled to additional payments from JJSI of up to $13.0 million, conditioned upon the achievement of certain milestones relating to the development and reimbursement of the Percepta v.2 ten first v.2 one v.2 December 18, 2019, nine September 30, 2020 The JJSI agreement is considered to be within the scope of ASC 808, 606 606, $7.0 $13.0 not The Company recognized revenue of $0.3 million and $1.5 million for three nine September 30, 2020 three nine September 30, 2019 v.2 v.2 three nine September 30, 2019 September 30, 2020 December 31, 2019 September 30, 2020 December 31, 2019 Collaboration Agreement with AstraZeneca Group On December 23, 2019, three nine September 30, 2020 zero September 30, 2020 Commercial Development Agreement with CareDx On May 13, 2020, three nine September 30, 2020 zero September 30, 2020 Cost of Testing Revenue The components of our cost of testing services are laboratory expenses, sample collection expenses, compensation expense, license fees and royalties, depreciation and amortization, other expenses such as equipment and laboratory supplies, and allocations of facility and information technology expenses. Costs associated with performing tests are expensed as the test is processed regardless of whether and when revenue is recognized with respect to that test. Cost of testing revenue for the nine September 30, 2020 19 Cost of Product Revenue Cost of product revenue consists primarily of costs of purchasing instruments and diagnostic kits from third Cost of Biopharmaceutical Revenue Cost of biopharmaceutical revenue consists of costs of performing activities under arrangements that require the Company to perform research and development services on behalf of a customer pursuant to a biopharmaceutical service agreement. Recent Accounting Pronouncements In June 2016, No. 2016 13, Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments January 1, 2020. not In November 2018, No. 2018 18, Collaborative Arrangements (Topic 808 606 not 606. December 15, 2019, 2019 no In August 2018 No. 2018 15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350 40 January 1, 2020 no In August 2018, No. 2018 13, Fair Value Measurement (Topic 820 2018 13. 2018 13 1 1 2 2 3 3 1 3 2 3 may 3 2018 13 January 1, 2020 2018 13 not 3 5,

Note 2 - Net Loss Per Common Sh

Note 2 - Net Loss Per Common Share	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Earnings Per Share [Text Block]	2. Basic net loss per common share is calculated by dividing net loss attributable to common stockholders by the weighted-average number of common shares outstanding during the period, without consideration of common stock equivalents. Diluted net loss per common share is computed by dividing net loss attributable to common stockholders by the weighted-average number of common share equivalents outstanding for the period determined using the treasury stock method. The following outstanding common stock equivalents have been excluded from diluted net loss per common share because their inclusion would be anti-dilutive: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Shares of common stock subject to outstanding options 4,492,414 5,299,296 4,691,424 5,562,611 Employee stock purchase plan 15,673 51,253 20,151 32,272 Restricted stock units 891,087 780,914 929,968 691,647 Total common stock equivalents 5,399,174 6,131,463 5,641,543 6,286,530

Note 3 - Accrued Liabilities

Note 3 - Accrued Liabilities	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	3. Accrued liabilities consisted of the following (in thousands of dollars): September 30, 2020 December 31, 2019 Accrued compensation expenses $ 8,382 $ 10,100 Accrued other 2,063 3,634 Total accrued liabilities $ 10,445 $ 13,734

Note 4 - Business Combination

Note 4 - Business Combination	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Business Combination Disclosure [Text Block]	4. On December 3, 2019, 805, may December 31, 2019 September 30, 2020 Assets acquired are recorded based on valuations derived from estimated fair value assessments and assumptions used by the Company. While the Company believes that its estimates and assumptions underlying the valuations are reasonable, different estimates and assumptions could result in different valuations assigned to the individual assets acquired and the resulting amount of goodwill. The following table summarizes the fair values of assets acquired and liabilities assumed at the date of acquisition (in thousands): Prosigna product technology $ 4,120 Prosigna customer relationships 2,430 nCounter Dx license 46,880 LymphMark product technology 990 Total identifiable intangible assets acquired 54,420 Goodwill 1,668 Net assets acquired $ 56,088 Identifiable acquisition-related intangibles included in the above table are finite-lived and are being amortized on a straight-line basis over their estimated lives, which approximates the pattern in which the economic benefits of the intangible assets are expected to be realized, as follows: Estimated Useful life (In Years) Prosigna product technology 15 Prosigna customer relationships 5 nCounter Dx license 15 LymphMark product technology 7 Goodwill represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired. This acquisition includes $1.7 million of goodwill which the Company believes consists principally of the organized workforce that will help the Company execute its strategic plans in relation to the assets acquired. In accordance with ASC 350, not September 30, 2020 not

Note 5 - Fair Value Measurement

Note 5 - Fair Value Measurements	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Fair Value Disclosures [Text Block]	5. The Company records its financial assets and liabilities at fair value. The carrying amounts of certain financial instruments of the Company, including cash and cash equivalents, prepaid expenses and other current assets, accounts payable and accrued liabilities, approximate fair value due to their relatively short maturities. The accounting guidance for fair value provides a framework for measuring fair value, clarifies the definition of fair value, and expands disclosures regarding fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three • Level I: Inputs which include quoted prices in active markets for identical assets and liabilities; • Level II: Inputs other than Level I that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not • Level III: Unobservable inputs that are supported by little or no The fair value of the Company’s financial assets includes money market funds, overnight reverse repurchase agreements and a deposit for the lease of the Company's South San Francisco facility. Money market funds, included in cash and cash equivalents in the accompanying condensed consolidated balance sheets, were $343.4 million and $57.6 million as of September 30, 2020 December 31, 2019 zero September 30, 2020 December 31, 2019 no September 30, 2020 December 31, 2019 September 30, 2020 December 31, 2019 The fair value of the contingent consideration in Note 4, December 3, 2019, not not September 30, 2020 not 12 September 30, 2020 Value or Range Unobservable input (Weighted-Average) Discount rate 8.7% Probability of achievement 50% - 100% (80%)

Note 6 - Commitments and Contin

Note 6 - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	6. Operating Leases The Company leases its headquarters and laboratory facilities in South San Francisco, California under a non-cancelable lease agreement for approximately 59,000 square feet. The lease began in June 2015 March 2026 September 30, 2020 December 31, 2019 The Company also leases laboratory and office space in Austin, Texas under a lease that expires in January 2029 2025. September 30, 2020 December 31, 2019 Future minimum lease payments under non-cancelable operating leases as of September 30, 2020 Year Ending December 31, Remainder of 2020 $ 588 2021 2,401 2022 2,472 2023 2,543 2024 2,614 Thereafter 4,227 Total future minimum lease payments 14,845 Less: amount representing interest 2,972 Present value of future lease payments 11,873 Less: short-term lease liabilities 1,542 Long-term lease liabilities $ 10,331 The Company recognizes operating lease expense on a straight-line basis over the non-cancelable lease period. Operating lease expense was $0.5 million for each of the three September 30, 2020 2019 nine September 30, 2020 2019 Contingencies From time to time, the Company may no

Note 7 - Debt

Note 7 - Debt	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Debt Disclosure [Text Block]	7. Loan and Security Agreement On November 3, 2017, not September 30, 2020 October 1, 2022. may October 1, 2022. The Term Loan Advance bears interest at a variable rate equal to (i) the thirty nine September 30, 2020 The Company may November 3, 2018, ( November 3, 2018 November 3, 2019, November 3, 2019. January 2019, May 2019 August 2020, not not In addition, a final payment on the Term Loan Advance in the amount of $1.2 million is due upon the earlier of the maturity date of the Term Loan Advance or its payment in full. The Loan and Security Agreement contains customary representations, warranties, and events of default such as a material adverse change in the Company's business, operations or financial condition, as well as affirmative and negative covenants. The negative covenants include, among other provisions, covenants that limit or restrict the Company's ability to incur liens, make investments, incur indebtedness, merge with or acquire other entities, dispose of assets, make dividends or other distributions to holders of its equity interests, engage in any new line of business, or enter into certain transactions with affiliates, in each case subject to certain exceptions. The Company’s obligations under the Loan and Security Agreement are secured by substantially all of its assets (excluding intellectual property), subject to certain customary exceptions. The Loan and Security Agreement also requires the Company to achieve certain revenue levels tested quarterly on a trailing twelve not September 30, 2020 The debt obligation for borrowings made under the Loan and Security Agreement was as follows (in thousands of dollars): September 30, 2020 December 31, 2019 Debt principal $ — $ 100 End-of-term debt obligation 756 594 Total debt obligation $ 756 $ 694 As of September 30, 2020 one 2022. The end-of-term debt obligation accretes over the term of the Loan and Security Agreement until maturity and is included in interest expense in the Company's condensed consolidated statements of operations and comprehensive loss.

Note 8 - Stockholders' Equity

Note 8 - Stockholders' Equity	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	8. Common Stock The Company had reserved shares of common stock for issuance as follows: September 30, 2020 December 31, 2019 Stock options and restricted stock units issued and outstanding 5,279,277 5,562,484 Stock options and restricted stock units available for grant under stock option plans 3,036,308 1,954,804 Common stock available for the Employee Stock Purchase Plan 1,571,395 173,168 Total 9,886,980 7,690,456

Note 9 - Thyroid Cytopathology

Note 9 - Thyroid Cytopathology Partners	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Long-term Contracts or Programs Disclosure [Text Block]	9. The Company has an agreement with a specialized pathology practice, Thyroid Cytopathology Partners, or TCP, to provide testing services to the Company (the TCP Agreement). The TCP Agreement is effective through October 31, 2022, not 12 not not not not February 14, 2019, no TCP's portion of rent and related operating expenses reimbursed to the Company for the shared space at the Austin, Texas facility was $11,000 for the nine September 30, 2019

Note 10 - Income Taxes

Note 10 - Income Taxes	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Income Tax Disclosure [Text Block]	10. The Company did not three nine September 30, 2020 2019 On March 27, 2020, 19 not

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The Company’s condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States, or GAAP. Certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. The condensed consolidated balance sheet as of September 30, 2020 three nine September 30, 2020 2019 three nine September 30, 2020 2019 nine September 30, 2020 2019 December 31, 2019 three nine September 30, 2020 not The accompanying interim period condensed consolidated financial statements and related financial information included in this Quarterly Report on Form 10 10 December 31, 2019
Reclassification, Comparability Adjustment [Policy Text Block]	Reclassifications Certain prior period balances have been reclassified to conform to current period presentation of the Company’s condensed consolidated financial statements and accompanying notes. Such reclassifications have no September 30, 2019
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of unaudited interim financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Items subject to such estimates include: revenue recognition; write-down of supplies; the useful lives of property and equipment; the recoverability of long-lived assets; the incremental borrowing rate for leases; the estimation of the fair value of intangible assets and contingent consideration; variable interest entity assessment; impairment of equity investment, at cost; stock options; income tax uncertainties, including a valuation allowance for deferred tax assets; reserve on accounts receivable and contingencies. The Company bases these estimates on historical and anticipated results, trends, and various other assumptions that the Company believes are reasonable under the circumstances, including assumptions as to future events. These estimates form the basis for making judgments about the carrying values of assets and liabilities and recorded revenue and expenses that are not
Stockholders' Equity, Policy [Policy Text Block]	Issuance of Common Stock in a Public Offering On August 7, 2020, On May 7, 2019,
Cash and Cash Equivalents, Unrestricted Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents The Company considers demand deposits in a bank, money market funds and highly liquid investments with an original maturity of 90 three third September 30, 2020
Investment, Policy [Policy Text Block]	Equity Investment In July 2020, $1.0 not not not not 321, September 30, 2020 September 30, 2020.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentrations of Credit Risk and Other Risks and Uncertainties The worldwide spread of coronavirus, or COVID- 19, no 19 may 19 19 may 19 The majority of the Company’s cash and cash equivalents are deposited with one may not Several of the components of the Company’s sample collection kits and test reagents, and the nCounter system and related diagnostic kits are obtained from single-source suppliers. If these single-source suppliers fail to satisfy the Company’s requirements on a timely basis, it could suffer delays in being able to deliver its diagnostic solutions, a possible loss of revenue, or incur higher costs, any of which could adversely affect its operating results. The Company is also subject to credit risk from its accounts receivable related to its sales. Credit risk for accounts receivable from testing revenue is incorporated in testing revenue accrual rates as the Company assesses historical collection rates and current developments to determine accrual rates and amounts the Company will ultimately collect. The Company generally does not not not September 30, 2020 Through September 30, 2020 third 10% Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Medicare 25 % 26 % 24 % 24 % Johnson and Johnson Services, Inc. * 13 % * 12 % UnitedHealthcare 11 % 11 % 11 % 11 % 36 % 50 % 35 % 47 % *Less than 10% The Company’s third 10% September 30, 2020 December 31, 2019 Johnson and Johnson Services, Inc. * 10 % Medicare 12 % 15 % UnitedHealthcare 10 % * *Less than 10%
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Restricted Cash The Company had deposits of $603,000 included in long-term assets as of September 30, 2020 December 31, 2019
Revenue from Contract with Customer [Policy Text Block]	Revenue Recognition Testing Revenue The Company recognizes testing revenue in accordance with the provisions of ASC 606, 606. During 2020, three nine September 30, 2020 zero three nine September 30, 2020 During 2019, three nine September 30, 2019 zero three nine September 30, 2019 Product Revenue The Company began recognizing product revenue in December 2019, 4 Product revenue from instruments and diagnostic kits is recognized generally upon shipment or when the instrument is ready for use by the end customer, which is when title of the product has been transferred to the customer. This process involves identifying the contract with a customer, determining the performance obligations in the contract, determining the contract price, allocating the contract price to the distinct performance obligations in the contract, and recognizing revenue when the performance obligations have been satisfied. A performance obligation is considered distinct from other obligations in a contract when it provides a benefit to the customer either on its own or together with other resources that are readily available to the customer and is separately identified in the contract. Performance obligations are considered satisfied once the Company has transferred control of a product to the customer, meaning the customer has the ability to use and obtain the benefit of the product. The Company recognizes product revenue for satisfied performance obligations only when there are no Biopharmaceutical and Collaboration Revenue From time to time, the Company enters into arrangements for research and development and/or laboratory services. Such arrangements may In arrangements involving more than one The consideration allocated to each distinct performance obligation is recognized as revenue when control of the related goods is transferred or services are performed. Consideration associated with at-risk substantive performance milestones is recognized as revenue when it is probable that a significant reversal of the cumulative revenue recognized will not Collaborative Arrangements The Company enters into collaborative arrangements with partners that fall under the scope of ASC Topic 808, 808. 808, may 606 606 The terms of the Company’s collaborative arrangements typically include one may Net sales of data or other services to our customers are classified under biopharmaceutical revenue, and all other non-customer revenue are classified under collaboration revenue in our consolidated statements of operations and comprehensive loss. There was no collaboration revenue in the three nine September 30, 2020 As part of the accounting for these arrangements, the Company must develop estimates and assumptions that require judgment to determine the underlying stand-alone selling price for each performance obligation which determines how the transaction price is allocated among the performance obligations. Generally, the estimation of the stand-alone selling price may Up-front Fees: If a license to the Company’s intellectual property is determined to be distinct from the other performance obligations identified in the arrangement, the Company recognizes revenues from the transaction price allocated to the license when the license is transferred to the licensee and the licensee is able to use and benefit from the license. For licenses that are bundled with other promises, the Company utilizes judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time. Milestone Payments: At the inception of each arrangement that includes milestone payments (variable consideration), the Company evaluates whether the milestones are considered probable of being reached and estimates the amount to be included in the transaction price using the most likely amount method. If it is probable that a significant revenue reversal would not not not may Services Agreement with Loxo Oncology On April 9, 2018, one one may September 30, 2020 not 606 nine September 30, 2019 nine September 30, 2020 three nine September 30, 2020 not September 30, 2020 December 31, 2019 Diagnostic Development Agreement with Johnson & Johnson On December 28, 2018, v.2, two v.2 not Under the terms of the agreement, the Company will provide data from its RNA whole-transcriptome sequencing platform to JJSI in exchange for $7.0 million in payments from JJSI. The Company is also entitled to additional payments from JJSI of up to $13.0 million, conditioned upon the achievement of certain milestones relating to the development and reimbursement of the Percepta v.2 ten first v.2 one v.2 December 18, 2019, nine September 30, 2020 The JJSI agreement is considered to be within the scope of ASC 808, 606 606, $7.0 $13.0 not The Company recognized revenue of $0.3 million and $1.5 million for three nine September 30, 2020 three nine September 30, 2019 v.2 v.2 three nine September 30, 2019 September 30, 2020 December 31, 2019 September 30, 2020 December 31, 2019 Collaboration Agreement with AstraZeneca Group On December 23, 2019, three nine September 30, 2020 zero September 30, 2020 Commercial Development Agreement with CareDx On May 13, 2020, three nine September 30, 2020 zero September 30, 2020 Cost of Testing Revenue The components of our cost of testing services are laboratory expenses, sample collection expenses, compensation expense, license fees and royalties, depreciation and amortization, other expenses such as equipment and laboratory supplies, and allocations of facility and information technology expenses. Costs associated with performing tests are expensed as the test is processed regardless of whether and when revenue is recognized with respect to that test. Cost of testing revenue for the nine September 30, 2020 19 Cost of Product Revenue Cost of product revenue consists primarily of costs of purchasing instruments and diagnostic kits from third Cost of Biopharmaceutical Revenue Cost of biopharmaceutical revenue consists of costs of performing activities under arrangements that require the Company to perform research and development services on behalf of a customer pursuant to a biopharmaceutical service agreement.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In June 2016, No. 2016 13, Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments January 1, 2020. not In November 2018, No. 2018 18, Collaborative Arrangements (Topic 808 606 not 606. December 15, 2019, 2019 no In August 2018 No. 2018 15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350 40 January 1, 2020 no In August 2018, No. 2018 13, Fair Value Measurement (Topic 820 2018 13. 2018 13 1 1 2 2 3 3 1 3 2 3 may 3 2018 13 January 1, 2020 2018 13 not 3 5,

Note 1 - Organization, Descri_2

Note 1 - Organization, Description of Business and Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Medicare 25 % 26 % 24 % 24 % Johnson and Johnson Services, Inc. * 13 % * 12 % UnitedHealthcare 11 % 11 % 11 % 11 % 36 % 50 % 35 % 47 % September 30, 2020 December 31, 2019 Johnson and Johnson Services, Inc. * 10 % Medicare 12 % 15 % UnitedHealthcare 10 % * *Less than 10%

Note 2 - Net Loss Per Common _2

Note 2 - Net Loss Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Shares of common stock subject to outstanding options 4,492,414 5,299,296 4,691,424 5,562,611 Employee stock purchase plan 15,673 51,253 20,151 32,272 Restricted stock units 891,087 780,914 929,968 691,647 Total common stock equivalents 5,399,174 6,131,463 5,641,543 6,286,530

Note 3 - Accrued Liabilities (T

Note 3 - Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	September 30, 2020 December 31, 2019 Accrued compensation expenses $ 8,382 $ 10,100 Accrued other 2,063 3,634 Total accrued liabilities $ 10,445 $ 13,734

Note 4 - Business Combination (

Note 4 - Business Combination (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Prosigna product technology $ 4,120 Prosigna customer relationships 2,430 nCounter Dx license 46,880 LymphMark product technology 990 Total identifiable intangible assets acquired 54,420 Goodwill 1,668 Net assets acquired $ 56,088
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]	Estimated Useful life (In Years) Prosigna product technology 15 Prosigna customer relationships 5 nCounter Dx license 15 LymphMark product technology 7

Note 5 - Fair Value Measureme_2

Note 5 - Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]	Value or Range Unobservable input (Weighted-Average) Discount rate 8.7% Probability of achievement 50% - 100% (80%)

Note 6 - Commitments and Cont_2

Note 6 - Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Year Ending December 31, Remainder of 2020 $ 588 2021 2,401 2022 2,472 2023 2,543 2024 2,614 Thereafter 4,227 Total future minimum lease payments 14,845 Less: amount representing interest 2,972 Present value of future lease payments 11,873 Less: short-term lease liabilities 1,542 Long-term lease liabilities $ 10,331

Note 7 - Debt (Tables)

Note 7 - Debt (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Debt [Table Text Block]	September 30, 2020 December 31, 2019 Debt principal $ — $ 100 End-of-term debt obligation 756 594 Total debt obligation $ 756 $ 694

Note 8 - Stockholders' Equity (

Note 8 - Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Common Stock Capital Shares Reserved for Future Issuance [Table Text Block]	September 30, 2020 December 31, 2019 Stock options and restricted stock units issued and outstanding 5,279,277 5,562,484 Stock options and restricted stock units available for grant under stock option plans 3,036,308 1,954,804 Common stock available for the Employee Stock Purchase Plan 1,571,395 173,168 Total 9,886,980 7,690,456

Note 1 - Organization, Descri_3

Note 1 - Organization, Description of Business and Summary of Significant Accounting Policies (Details Textual)	Aug. 07, 2020USD ($)$ / sharesshares	May 13, 2020USD ($)	May 07, 2019USD ($)$ / sharesshares	Dec. 28, 2018USD ($)	Sep. 30, 2020USD ($)$ / shares	Sep. 30, 2019USD ($)$ / shares	Sep. 30, 2020USD ($)$ / shares	Sep. 30, 2019USD ($)$ / shares	Dec. 31, 2019USD ($)	Mar. 30, 2020USD ($)
Number of Operating Segments							1
Number of Disease Areas with Genomic Testing					4		4
Stock Issued During Period, Shares, New Issues (in shares) | shares	6,900,000		6,325,000
Sale of Stock, Price Per Share (in dollars per share) | $ / shares	$ 30		$ 23.25
Proceeds from Issuance of Common Stock	$ 193,800,000		$ 137,800,000				$ 193,831,000	$ 137,848,000
Payments of Stock Issuance Costs	$ 13,200,000		$ 9,200,000
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Cumulative Amount					$ 0		0
Restricted Cash and Cash Equivalents, Noncurrent, Total					603,000		603,000		$ 603,000
Revenue from Contract with Customer, Excluding Assessed Tax, Total					31,121,000	$ 30,973,000	82,947,000	90,638,000
Operating Income (Loss), Total					$ (4,066,000)	$ (1,763,000)	$ (27,317,000)	$ (6,930,000)
Earnings Per Share, Basic and Diluted, Total (in dollars per share) | $ / shares					$ (0.08)	$ (0.02)	$ (0.52)	$ (0.11)
Inventory Write-down							$ 1,088,000	$ 0
Loxo Oncology Inc [Member] | Collaborative Arrangement [Member]
Contract Agreement, Term (Year)							1 year
Contract Agreement, Automatic Renewal Term (Year)							1 year
Contract Agreement, Termination Period (Day)							90 days
Contract with Customer, Liability, Revenue Recognized							$ 0		0
Johnson and Johnson Services Inc JJSI [Member] | Collaborative Arrangement [Member]
Revenue from Contract with Customer, Excluding Assessed Tax, Total					$ 300,000	$ 2,000,000	1,500,000	7,000,000
Contract with Customer, Liability, Revenue Recognized							0		0
Collaborative Agreement, Amount				$ 7,000,000
Collaborative Agreement, Contingent Receivable Amount				$ 13,000,000
Collaborative Agreement, Period of Payments After First Commercial (Year)				10 years
Collaborative Agreement, Fee Percentage of Cash Collections				1.00%
Accounts Receivable, after Allowance for Credit Loss, Total					800,000		800,000		2,000,000
Acerta Pharma BV [Member] | Collaborative Arrangement [Member]
Revenue from Contract with Customer, Excluding Assessed Tax, Total					300,000		700,000
Accounts Receivable, after Allowance for Credit Loss, Total					500,000		500,000
Revenue from Achievement of Development Milestones					0		1,000,000
CareDx [Member] | Collaborative Arrangement [Member]
Revenue from Contract with Customer, Excluding Assessed Tax, Total					0		1,000,000
Accounts Receivable, after Allowance for Credit Loss, Total					0		0
Contract with Customer, Liability, Total		$ 1,000,000			0		0
Commercial Development Agreement, Maximum Payments Receivable from Counter Party Upon Achievement of Milestones		4,500,000
Value of Support Services to Counter Party		$ 500,000
Testing [Member]
Revenue from Contract with Customer, Excluding Assessed Tax, Total					28,270,000	26,723,000	70,473,000	78,798,000
Testing [Member] | Cost of Sales [Member] | COVID 19 Pandemic [Member]
Inventory Write-down							1,100,000
Testing [Member] | Revenue Recognition [Member]
Revenue from Contract with Customer, Excluding Assessed Tax, Total					300,000	100,000	1,200,000	800,000
Operating Income (Loss), Total					$ 300,000	$ 100,000	$ 1,200,000	$ 800,000
Earnings Per Share, Basic and Diluted, Total (in dollars per share) | $ / shares					$ 0	$ 0	$ 0.02	$ 0.02
Collaborative [Member]
Revenue from Contract with Customer, Excluding Assessed Tax, Total					$ 0	$ 2,000,000	$ 0	$ 4,000,000
Product [Member]
Revenue from Contract with Customer, Excluding Assessed Tax, Total					2,027,000	0	7,149,000	0
Product [Member] | Loxo Oncology Inc [Member] | Collaborative Arrangement [Member]
Contract with Customer, Liability, Revenue Recognized							0	90,000
Service [Member] | Loxo Oncology Inc [Member] | Collaborative Arrangement [Member]
Contract with Customer, Liability, Revenue Recognized					300,000		800,000
Fulfillment of Obligations Relating to Percepta v.2 Development Milestones [Member] | Johnson and Johnson Services Inc JJSI [Member] | Collaborative Arrangement [Member]
Revenue from Contract with Customer, Excluding Assessed Tax, Total						$ 2,000,000		4,000,000
Other Noncurrent Assets [Member]
Equity Securities without Readily Determinable Fair Value, Amount					$ 1,000,000		$ 1,000,000
Overnight Reverse Repurchase Agreements [Member]
Cash Equivalents, Percentage Collateralized by US Treasury and Agency Securities					102.00%		102.00%
Cash Equivalents, at Carrying Value, Total					$ 0		$ 0
Collateral for Irrevocable Standby Letter of Credit [Member]
Restricted Cash and Cash Equivalents, Noncurrent, Total									$ 603,000	$ 603,000
Over-Allotment Option [Member]
Stock Issued During Period, Shares, New Issues (in shares) | shares	900,000		825,000
Revision of Prior Period, Adjustment [Member]
Increase (Decrease) in Operating Capital, Total								$ 810,000

Note 1 - Organization, Descri_4

Note 1 - Organization, Description of Business and Summary of Significant Accounting Policies - Schedule of Third-party Payers as a Percentage of Total (Details) - Customer Concentration Risk [Member]	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Revenue from Contract with Customer Benchmark [Member]
Concentrations of credit risk	36.00%	50.00%	35.00%	47.00%
Johnson and Johnson Services Inc JJSI [Member] | Accounts Receivable [Member]
Concentrations of credit risk					10.00%
Johnson and Johnson Services Inc JJSI [Member] | Revenue from Contract with Customer Benchmark [Member]
Concentrations of credit risk		13.00%		12.00%
Medicare [Member] | Accounts Receivable [Member]
Concentrations of credit risk			12.00%		15.00%
Medicare [Member] | Revenue from Contract with Customer Benchmark [Member]
Concentrations of credit risk	25.00%	26.00%	24.00%	24.00%
United Healthcare [Member] | Accounts Receivable [Member]
Concentrations of credit risk			10.00%
United Healthcare [Member] | Revenue from Contract with Customer Benchmark [Member]
Concentrations of credit risk	11.00%	11.00%	11.00%	11.00%

Note 2 - Net Loss Per Common _3

Note 2 - Net Loss Per Common Share - Anti-dilutive Common Stock Equivalents Excluded from Diluted Net Loss Per Common Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Total common stock equivalents (in shares)	5,399,174	6,131,463	5,641,543	6,286,530
Share-based Payment Arrangement, Option [Member]
Total common stock equivalents (in shares)	4,492,414	5,299,296	4,691,424	5,562,611
Employee Stock Purchase Plan Shares [Member]
Total common stock equivalents (in shares)	15,673	51,253	20,151	32,272
Restricted Stock Units (RSUs) [Member]
Total common stock equivalents (in shares)	891,087	780,914	929,968	691,647

Note 3 - Accrued Liabilities -

Note 3 - Accrued Liabilities - Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Accrued compensation expenses	$ 8,382	$ 10,100
Accrued other	2,063	3,634
Total accrued liabilities	$ 10,445	$ 13,734

Note 4 - Business Combination_2

Note 4 - Business Combination (Details Textual) - USD ($) $ in Thousands	Dec. 03, 2019	Sep. 30, 2020	Dec. 31, 2019
Business Combination, Contingent Consideration, Liability, Total		$ 6,420	$ 6,088
Goodwill, Ending Balance		2,725	2,725
NanoString [Member]
Payments to Acquire Businesses, Gross	$ 40,000
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	10,000
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	10,000
Business Combination, Contingent Consideration, Liability, Total	6,100	$ 6,400	$ 6,100
Goodwill, Ending Balance	$ 1,668

Note 4 - Business Combination -

Note 4 - Business Combination - Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Dec. 03, 2019
Goodwill	$ 2,725	$ 2,725
NanoString [Member]
Total identifiable intangible assets acquired			$ 54,420
Goodwill			1,668
Net assets acquired			56,088
NanoString [Member] | Prosigna Product Technology [Member]
Total identifiable intangible assets acquired			4,120
NanoString [Member] | Prosigna Customer Relationships [Member]
Total identifiable intangible assets acquired			2,430
NanoString [Member] | nCounter FLEX Dx License [Member]
Total identifiable intangible assets acquired			46,880
NanoString [Member] | LymphMark Product Technology [Member]
Total identifiable intangible assets acquired			$ 990

Note 4 - Business Combination_3

Note 4 - Business Combination - Estimated Useful Life of Acquisition-related Intangibles (Details) - NanoString [Member]	Dec. 03, 2019
Prosigna Product Technology [Member]
Estimated useful life (Year)	15 years
Prosigna Customer Relationships [Member]
Estimated useful life (Year)	5 years
nCounter FLEX Dx License [Member]
Estimated useful life (Year)	15 years
LymphMark Product Technology [Member]
Estimated useful life (Year)	7 years

Note 5 - Fair Value Measureme_3

Note 5 - Fair Value Measurements (Details Textual) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Restricted Cash and Cash Equivalents, Noncurrent, Total	$ 603,000	$ 603,000
Overnight Reverse Repurchase Agreements [Member]
Unrealized Gain (Loss) on Investments, Total	0	0
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Assets, Fair Value Disclosure	343,400,000	57,600,000
Overnight Reverse Repurchase Agreements [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and Cash Equivalents, Fair Value Disclosure	0	100,000,000
Collateral for Irrevocable Standby Letter of Credit [Member] | Fair Value, Inputs, Level 1 [Member]
Restricted Cash and Cash Equivalents, Noncurrent, Total	$ 603,000	$ 603,000

Note 5 - Fair Value Measureme_4

Note 5 - Fair Value Measurements - Fair Value Measurement Input (Details)	Sep. 30, 2020
Measurement Input, Probability of Achievement [Member]
Measurement Input	80
Measurement Input, Probability of Achievement [Member] | Minimum [Member]
Measurement Input	50
Measurement Input, Probability of Achievement [Member] | Maximum [Member]
Measurement Input	100
Measurement Input, Discount Rate [Member]
Measurement Input	8.7

Note 6 - Commitments and Cont_3

Note 6 - Commitments and Contingencies (Details Textual)	3 Months Ended		9 Months Ended	21 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2019USD ($)	Jun. 30, 2015ft²
Operating Lease, Expense	$ 500,000	$ 500,000	$ 1,400,000	$ 1,400,000
Headquarters and Laboratory Facilities in South San Francisco, California [Member]
Area of Real Estate Property (Square Foot) | ft²						59,000
Headquarters and Laboratory Facilities in South San Francisco, California [Member] | Other Noncurrent Assets [Member]
Security Deposit	603,000			603,000	$ 603,000
Laboratory and Office Space in Austin, Texas [Member] | Other Noncurrent Assets [Member]
Security Deposit	$ 139,000			$ 139,000	$ 139,000

Note 6 - Commitments and Cont_4

Note 6 - Commitments and Contingencies - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Remainder of 2020	$ 588
2021	2,401
2022	2,472
2023	2,543
2024	2,614
Thereafter	4,227
Total future minimum lease payments	14,845
Less: amount representing interest	2,972
Present value of future lease payments	11,873
Less: short-term lease liabilities	1,542	$ 1,407
Long-term lease liabilities	$ 10,331	$ 11,506

Note 7 - Debt (Details Textual)

Note 7 - Debt (Details Textual) - USD ($)	Nov. 03, 2017	Aug. 31, 2020	May 31, 2019	Jan. 31, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2022	Dec. 31, 2019
Repayments of Long-term Debt, Total					$ 100,000	$ 24,900,000
Loan and Security Agreement [Member] | Silicon Valley Bank [Member]
Debt Agreement, Maximum Borrowing Capacity	$ 35,000,000
Debt Instrument, Face Amount					0			$ 100,000
Debt Instrument, Covenant, Revenue Level Exception, Amount Available Under Revolving Line of Credit	40,000,000
Long-term Debt, Total					$ 756,000			$ 694,000
Loan and Security Agreement [Member] | Silicon Valley Bank [Member] | Forecast [Member]
Long-term Debt, Total							$ 1,200,000
Loan and Security Agreement [Member] | Silicon Valley Bank [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 10,000,000
Debt Instrument, Interest Rate, Stated Percentage	4.70%
Long-term Debt, Weighted Average Interest Rate, over Time					5.50%
Loan and Security Agreement [Member] | Silicon Valley Bank [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	3.50%
Loan and Security Agreement [Member] | Silicon Valley Bank [Member] | Term Loan Advance [Member]
Debt Instrument, Face Amount	$ 25,000,000
Debt Instrument, Interest Rate, Stated Percentage	5.43%
Repayments of Long-term Debt, Total		$ 100,000	$ 12,400,000	$ 12,500,000
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid	$ 1,200,000
Long-term Debt, Total					$ 1
Loan and Security Agreement [Member] | Silicon Valley Bank [Member] | Term Loan Advance [Member] | Prepayment Made Prior to November 3, 2018 [Member]
Debt Instrument, Prepayment Premium	750,000
Loan and Security Agreement [Member] | Silicon Valley Bank [Member] | Term Loan Advance [Member] | Prepayment Made After November 3, 2018 and Before November 3, 2019 [Member]
Debt Instrument, Prepayment Premium	500,000
Loan and Security Agreement [Member] | Silicon Valley Bank [Member] | Term Loan Advance [Member] | Prepayment Made After November 3, 2019 [Member]
Debt Instrument, Prepayment Premium	$ 250,000
Loan and Security Agreement [Member] | Silicon Valley Bank [Member] | Term Loan Advance [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	4.20%

Note 7 - Debt - Net Debt Obliga

Note 7 - Debt - Net Debt Obligation for Borrowings (Details) - Loan and Security Agreement [Member] - Silicon Valley Bank [Member] - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt principal	$ 0	$ 100
End-of-term debt obligation	756	594
Total debt obligation	$ 756	$ 694

Note 8 - Stockholders' Equity -

Note 8 - Stockholders' Equity - Reserved Shares of Common Stock for Issuance (Details) - shares	Sep. 30, 2020	Dec. 31, 2019
Stock options and restricted stock units issued and outstanding (in shares)	5,279,277	5,562,484
Total (in shares)	9,886,980	7,690,456
Share-based Payment Arrangement, Option [Member]
Common stock available for issuance (in shares)	3,036,308	1,954,804
Employee Stock Purchase Plan Shares [Member]
Common stock available for issuance (in shares)	1,571,395	173,168

Note 9 - Thyroid Cytopatholog_2

Note 9 - Thyroid Cytopathology Partners (Details Textual)	9 Months Ended
	Sep. 30, 2019USD ($)
Other Income [Member] | Laboratory and Office Space in Austin, Texas [Member] | Thyroid Cytopathology Partners TCP [Member]
Sublease Income	$ 11,000

Note 10 - Income Taxes (Details

Note 10 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Expense (Benefit), Total	$ 0	$ 0	$ 0	$ 0