Myriad

An analysis of several multigene breast cancer recurrence signatures suggests that some tests may be better than others at assessing risk of late distant recurrence.

The company discussed its efforts to grow adoption of its products during a call to discuss second quarter financial results for fiscal year 2018.

Although a draft guidance last month recommended against use of molecular tests to guide chemotherapy, the group's finalized decision is subject to price negotiation and other adjustments.

The firm reported total revenues of $194 million, compared to $196.5 million in Q2 2017, but beat the consensus Wall Street estimate of $188.8 million.

Myriad Genetics' BRACAnalysis CDx can identify which metastatic patients have BRCA mutations and would likely benefit from treatment with AstraZeneca's Lynparza.

Several of the top molecular diagnostic firms presented at the JP Morgan Healthcare Conference on Monday discussing product portfolios, FDA clearances, and plans for 2018.

The drugmaker will use Myriad's expanded molecular diagnostic panel to evaluate best responders to a combination of Lynparza and Avastin in clinical trials.

Several firms, such as Exact Sciences and Foundation Medicine, saw their share values more than double during the year, while NantHealth and GenMark saw their share values shrink. 

The investment bank said that an edit to CMS guidelines impacts payments for hereditary cancer testing, and could present Myriad with revenue and EPS headwinds.

At the San Antonio Breast Cancer Symposium, Myriad reported on the ability of its 86 SNP score to predict disease risk for the majority of women of European ancestry.

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