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In Brief This Week: Guardant Health, Quest, Myriad, Premaitha

NEW YORK (360Dx) – Guardant Health said this week that it closed an initial public offering of approximately 14.4 million shares of its common stock at $19 per share, raising gross proceeds of about $273.1 million. The number of shares offered included the exercise in full of the underwriters’ option to purchase an additional 1.9 million shares of the company’s stock. JP Morgan and Bank of America Merrill Lynch were joint book-running managers for the offering. Cowen, Leerink, and William Blair were comanagers.

Quest Diagnostics announced this week that its Summit Health subsidiary has completed its previously announced acquisition of Hooper Holmes, doing business as Provant Health. The transaction was completed after Summit's bid was declared the winner of an auction process conducted pursuant to section 363 of the Bankruptcy Code, before a federal bankruptcy judge of the United States Bankruptcy Court for the Southern District of New York. Provant Health is a provider of employer health and wellness services.

Myriad Genetics announced this week that it has signed a commercialization plan with Pfizer, under an existing companion diagnostic agreement in which Myriad is pursuing US Food and Drug Administration approval for its BRACAnalysis CDx to be used as a companion diagnostic with Pfizer's investigational PARP inhibitor talazoparib.

Under the terms of the commercialization plan, each company will remain responsible for the commercialization of its respective product, but they will collaborate on certain commercial activities intended to support the use of the BRACAnalysis CDx in identifying patients for potential treatment with talazoparib following FDA approval.

Talazoparib and BRACAnalysis CDx currently are under FDA review based on results from the EMBRACA trial, which evaluated talazoparib versus physician's choice chemotherapy in patients with germline BRCA-mutated, HER2-negative locally advanced or metastatic breast cancer. Myriad said it anticipates a regulatory decision from the FDA by December 2018.

Premaitha Health this week reported that its revenues for the first half of 2018 rose 45 percent year over year to £3.9 million ($5.1 million). Premaitha will publish its full H1 results on or before Dec. 3.

In Brief This Week is a selection of news items that may be of interest to our readers but had not previously appeared on 360Dx.