Myriad Genetics’ Portfolio Elevated by Updated NCCN Prostate Cancer Guidelines

Rhea-AI Summary

Myriad Genetics receives validation from updated NCCN Prostate Cancer Guidelines for its comprehensive portfolio of cancer testing solutions. The guidelines highlight the importance of MyRisk Hereditary Cancer Test, Prolaris Prostate Cancer Test, and Precise Tumor Molecular Profile Test across different stages of prostate cancer management.

The NCCN updates recommend multigene germline testing for patients with metastatic, regional, very-high-risk localized, or high-risk localized prostate cancer. MyRisk evaluates 48 genes for hereditary cancer risk, while Prolaris quantifies cancer aggressiveness and treatment benefits. Precise Tumor offers multigene profiling for targeted therapies and immunotherapy decisions.

Positive

• Portfolio validation by NCCN Guidelines strengthens market position in prostate cancer testing
• Comprehensive test offering covers entire patient journey from diagnosis to treatment
• Only provider of biomarker test quantifying absolute benefit of ADT to RT treatment

Negative

• None.

Insights

Medical Research Analyst

The NCCN guideline update significantly validates Myriad Genetics' diagnostic portfolio, particularly strengthening their position in prostate cancer testing. The inclusion of their three key tests - MyRisk, Prolaris and Precise Tumor - in the guidelines represents a major competitive advantage. The expanded recommendations for genetic testing across various stages of prostate cancer directly align with Myriad's comprehensive testing approach.

The guidelines' emphasis on multigene germline testing and molecular profiling for metastatic patients creates a broader addressable market for Myriad's tests. Their unique RNA+DNA analysis methodology provides a technical edge in result interpretation. The validation from NCCN guidelines typically leads to improved insurance coverage and adoption rates among healthcare providers, potentially driving higher test volumes.

Market Research Analyst

This NCCN guideline update represents a significant market opportunity for Myriad Genetics. The expanded testing recommendations across different prostate cancer stages could substantially increase the total addressable market. The company's integrated portfolio approach positions them uniquely to capture market share, as clinicians often prefer comprehensive solutions from a single provider.

The guidelines' emphasis on molecular profiling and genetic testing aligns perfectly with healthcare's shift toward personalized medicine. With their established market presence and comprehensive test offering, Myriad is well-positioned to capitalize on this trend. The validation from NCCN guidelines typically leads to broader insurance coverage and increased clinical adoption, which could drive revenue growth in their oncology segment.

Prolaris, MyRisk, and Precise Tumor Testing Validated Across Cancer Stages, Elevating Company’s Comprehensive Patient-Centric Solutions

SALT LAKE CITY, Dec. 10, 2024 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in genetic and tumor genomic testing, commends the updated Prostate Cancer Guidelines from the National Comprehensive Cancer Network (NCCN^®) as the guidelines underscore the critical role of the company’s portfolio of offerings across the patient’s prostate cancer journey. These guidelines further validate Myriad’s ability to streamline the diagnostic process and enhance personalized treatment options.

"Myriad’s robust portfolio uniquely supports a patient’s entire prostate cancer journey, setting us apart in the field of oncology,” said George Daneker, Jr., MD, President and Chief Clinical Officer, Oncology, Myriad Genetics. “From diagnosis to advanced treatment insights, we aim to deliver unparalleled accuracy and clarity at every stage of the disease. The updated NCCN guidelines further validate the importance of our comprehensive solutions, including diagnostic testing, multigene germline testing, and tumor molecular profiling. In addition, Myriad offers customizable workflow solutions and access to genetic experts to discuss results. Together, these empower clinicians to provide more precise and informed care for their patients.”

Myriad’s full suite of urologic oncology products is uniquely aligned with the updated NCCN Guidelines, offering integrated genetic and tumor genomic insights that identify germline risk, provide valuable insights into tumor biology, simplify therapy selection, and clinical trial eligibility identification for patients.

Included within the NCCN updates are:

• Recommendations for multigene germline testing for patients with metastatic, regional (node-positive), very-high-risk localized, or high-risk localized prostate cancer, regardless of family history. MyRisk^® Hereditary Cancer Test evaluates 48 genes associated with hereditary cancer risk, providing critical insights to help guide treatment and management decisions as well as identify risk to family members.
• Emphasis on comprehensive management of prostate cancer, including genetic insights. Prolaris^® Prostate Cancer Test is a molecular diagnostic test that quantifies prostate cancer aggressiveness and helps identify optimal treatment paths, including whether to pursue or forgo treatment. It is the only biomarker test that quantifies the absolute benefit of adding ADT to RT for improved patient outcomes.
• Recommendations for tumor molecular and biomarker analysis for metastatic prostate cancer patients to inform treatment decisions. Precise Tumor^® Molecular Profile Test offers multigene tumor profiling, including BRCA1, BRCA2, and homologous recombination repair genes, critical for optimizing targeted therapies. Additionally, the test assesses tumor mutational burden (TMB), a key factor NCCN highlights for patients with metastatic castration-resistant prostate cancer (mCRPC), enabling more tailored immunotherapy decisions.
  

Both MyRisk and Precise Tumor focus on clinically relevant variations in the genome, where each test couples RNA analysis with DNA sequencing to provide more refined interpretation of results.

Myriad continues to invest in its full portfolio of oncology products, including Precise^® MRD, its molecular residual disease (MRD) assay, and other innovations to drive personalized and actionable insights for clinicians and patients.

About Myriad Genetics
Myriad Genetics is a leading genetic testing and precision medicine company dedicated to advancing health and well-being for all. Myriad develops and offers genetic tests that help assess the risk of developing disease or disease progression and guide treatment decisions across medical specialties where genetic insights can significantly improve patient care and lower healthcare costs. For more information, visit www.myriad.com.

Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the company’s robust portfolio and how it uniquely support a patient’s entire prostate cancer journey, the company’s aim to deliver unparalleled accuracy and clarity at every stage of the disease, the combination of the company’s diagnostic testing, multigene germline testing, tumor molecular profiling, customizable workflow solutions, and access to genetic experts to discuss results empowering clinicians to provide more precise and informed care for their patients, and the company continues to invest in its full portfolio of oncology products, including Precise MRD and other innovations, to drive personalized and actionable insights for clinicians and patients. These “forward-looking statements” are management’s expectations of future events as of the date hereof and are subject to known and unknown risks and uncertainties that could cause actual results, conditions, and events to differ materially and adversely from those anticipated. Such factors include those risks described in the company’s filings with the U.S. Securities and Exchange Commission, including the company’s Annual Report on Form 10-K filed on February 28, 2024, as well as any updates to those risk factors filed from time to time in the company’s Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. Myriad is not under any obligation, and it expressly disclaims any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise except as required by law. 

National Comprehensive Cancer Network. NCCN makes no warranties of any kind whatsoever regarding their content, use or application and disclaims any responsibility for their application or use in any way.

Investor Contact 
Matt Scalo 
(801) 584-3532 
IR@myriad.com 

Media Contact 
Glenn Farrell 
(385) 318-3718 
PR@myriad.com

FAQ

What tests are included in Myriad Genetics (MYGN) prostate cancer portfolio?

Myriad Genetics' prostate cancer portfolio includes MyRisk Hereditary Cancer Test (48-gene panel), Prolaris Prostate Cancer Test (aggressiveness assessment), and Precise Tumor Molecular Profile Test (tumor profiling).

What are the new NCCN guidelines for Myriad Genetics (MYGN) prostate cancer testing?

The new NCCN guidelines recommend multigene germline testing for metastatic, regional, very-high-risk localized, or high-risk localized prostate cancer patients, regardless of family history.

How does Myriad Genetics' (MYGN) Prolaris test benefit prostate cancer patients?

Prolaris quantifies prostate cancer aggressiveness and helps identify optimal treatment paths, including whether to pursue or forgo treatment, and is the only biomarker test that quantifies the absolute benefit of adding ADT to RT.