Years after several high-profile failures, activity is up among researchers looking to multi-analyte protein assays for monitoring and detection of the disease.
The investment bank cited disappointing first quarter financial results, a slow uptake to the business, and competitive pressures for the downgrade.
The firm is using $350,000 in recently awarded NIH funds for a clinical study of its glycan test for predicting response to chemotherapy in ovarian cancer.
Currently available screening methods have not been shown to reduce mortality in the general population, USPSTF said.
The Seoul-based company also recently raised $1.9 million in series B funding and is targeting between $7 million and $8 million to close the round.
NGeneBio said this week that its next-generation sequencing panel has been approved as an IVD, the first NGS test to be cleared in Korea.
The drugmaker will use Myriad's expanded molecular diagnostic panel to evaluate best responders to a combination of Lynparza and Avastin in clinical trials.
The drugmaker is subsidizing the cost of BRCA testing for women diagnosed with ovarian cancers, for whom guidelines now recommend such testing for cancer therapy selection.
The lab, a pioneer in cancer genomics, is looking to proteomics and protein markers to improve the performance of a DNA-based test for early cancer detection.
The researchers developed a qPCR test that analyzes microRNAs associated with ovarian cancer and plan to run a retrospective trial of the assay on biobanked samples.