Welcome to our dedicated page for Myriad Genetics news (Ticker: MYGN), a resource for investors and traders seeking the latest updates and insights on Myriad Genetics stock.
Myriad Genetics Inc. reports developments in molecular diagnostic testing and precision medicine, with recurring updates on tests that assess disease risk, disease progression, and treatment selection across medical specialties. Company news commonly covers the Cancer Care Continuum, Prenatal Health, and Mental Health businesses, including test volume trends, average revenue per test, earnings results, and financial guidance.
Updates also address Myriad's oncology diagnostics and research programs, including MyChoice CDx, Precise MRD, Prolaris, hereditary cancer testing, GeneSight, and prenatal testing products. News themes include companion diagnostic approvals, clinical data presentations, commercial launches, collaborations, and investor healthcare conference participation.
Myriad Genetics (NASDAQ: MYGN) has launched its AMPLIFY™ technology, enhancing its Prequel™ noninvasive prenatal screening (NIPS) test. This improvement increases the fetal fraction of samples by 2.3 times compared to standard NIPS, significantly boosting accuracy in detecting chromosome abnormalities. In testing with over 1,000 women, false negatives for common aneuploidies improved by 45 times. AMPLIFY technology supports 99.9% sample results, making it a reliable choice for women, regardless of BMI or ethnicity. This positions Myriad to improve prenatal care equity.
Myriad Genetics (NASDAQ: MYGN) launched an upgraded Vectra test report that includes personalized estimates of a patient's one-year risk of rapid radiographic progression (RP) for rheumatoid arthritis (RA). This enhancement aims to improve treatment decisions for RA patients by providing individualized risk assessments based on age, gender, and adiposity. Current research shows that 42% of low to moderate risk patients may actually face high disease activity. The Vectra Score, measuring 12 serum biomarkers, can significantly guide medical management for better patient outcomes.
Myriad Genetics (MYGN) has elected Daniel M. Skovronsky, M.D., Ph.D., to its Board of Directors, expanding the board to ten members. Skovronsky, who brings significant expertise from Eli Lilly, will join the Research and Product Innovation Committee. In conjunction, long-time board member Walter Gilbert, Ph.D., co-founder of Myriad and a Nobel laureate, announced his retirement effective at the company's Annual Meeting in December 2020. Myriad emphasized Skovronsky's strategic insights in molecular diagnostics as critical for future growth while acknowledging Gilbert's contributions to the company.
Myriad Genetics (NASDAQ: MYGN) announced two significant publications validating its polygenic risk score (PRS) in breast cancer risk assessment. The studies confirm the PRS's ability to predict breast cancer risk in asymptomatic women and refine risk evaluations for those with known pathogenic mutations. The first study, involving over 150,000 women, found an odds ratio of 1.47 for breast cancer risk associated with the PRS. The second study highlighted the PRS's importance in managing patients with mutations in genes like BRCA1 and PALB2, showcasing varying lifetime risks significantly impacted by genetic factors.
Myriad Genetics, Inc. (NASDAQ: MYGN) has announced a collaboration with OptraHEALTH to introduce Gene™, an AI-powered chatbot for delivering genetic and financial information to patients. Gene™ can answer over 500,000 health-related questions, particularly about hereditary cancer. It complements Myriad's online hereditary cancer quiz, used by about one million individuals annually. The chatbot aims to streamline pre-test education and will be launched for Foresight® and Prequel™ tests later in the year, addressing challenges posed by COVID-19 in patient engagement.
Myriad Genetics (NASDAQ: MYGN) has launched a new patient home collection kit for its GeneSight® Psychotropic test, enabling DNA sample collection at home. This initiative responds to the rising mental health issues during the pandemic, as indicated by a Johns Hopkins survey showing a three-fold increase in psychological distress. The kit, ordered by healthcare providers, allows patients to collect their samples easily and submit them for analysis, with results available to clinicians in two days.
Myriad Genetics (NASDAQ: MYGN) announced the publication of a new study in Future Medicine validating the effectiveness of their myPath® Melanoma test. The study analyzed 181 skin lesions, revealing a 90.4% sensitivity and 95.5% specificity for indeterminate samples, with 43% representing malignant melanomas. These results affirm myPath Melanoma's capability to aid in accurate melanoma classification and underscore the importance of reliable diagnostic tools in early melanoma detection, impacting patient treatment outcomes.
Myriad Genetics (NASDAQ: MYGN) announced on June 15, 2020, that it has secured favorable coverage for its Prolaris® test from three new commercial health plans, including a major national provider. This expansion boosts access to prognostic testing for prostate cancer, now covering roughly 55 million lives. Nicole Lambert, president of Myriad International, noted that about 60% of men with prostate cancer can access the test, supporting better treatment decisions. The first policy took effect on June 8, 2020, while the second and third will become effective on June 15 and July 31, 2020, respectively.
Myriad Genetics (NASDAQ: MYGN) welcomes Palmetto GBA's final local coverage determination (LCD) for pharmacogenomic (PGx) testing, allowing broad coverage for psychiatric conditions. The LCD covers both single-gene and multi-gene tests but notes limited support for combinatorial tests. President Mark S. Verratti expresses optimism for the GeneSight Psychotropic test's coverage under this LCD. Clinical studies indicate improved outcomes for patients informed by GeneSight compared to standard treatment. This decision responds to increased mental health issues during the COVID-19 pandemic.
Myriad Genetics (NASDAQ: MYGN) announced a new study published in Psychiatry Research, showcasing the superiority of the GeneSight® Psychotropic test in predicting citalopram and escitalopram blood levels over single-gene tests. The study assessed 191 patients, demonstrating that GeneSight identifies more patients with significant gene-drug interactions, which might be missed by traditional methods.