Veracyte buys diagnostics firm

• Veracyte (NASDAQ:VCYT -0.4%) acquires Massachusetts-based Allegro Diagnostics Corp. for $21.0M ($7.8M in cash and $13.2M in VCYT common stock).
• Allegro is developing a gene expression diagnostic test to improve the preoperative diagnosis of lung cancer. Veracyte intends to launch the test in 2H 2015, but meaningful revenue won't come in until 2017.