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Myriad Genetics (MYGN) Launches EndoPredict Test in the US

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Myriad Genetics, Inc. (MYGN - Free Report) , a leading name in the molecular diagnostics space, recently launched the EndoPredict test in the U.S. for patients with ER+ HER2 – early-stage breast cancer.  EndoPredict is a second-generation test primarily for evaluating the 10-year risk of disease recurrence in breast cancer patients following surgery. Apart from this, it determines patients who can safely skip adjuvant chemotherapy.

EndoPredict has been validated by various prospective clinical studies and data from more than 3,500 patients with ER+ HER2- node negative and node positive early-stage breast cancer.  The results of EndoPredict were positive compared to the first generation breast cancer recurrence tests.

The test has already been included in medical guidelines and has been named by the Integrated Oncology Network as its preferred breast cancer recurrence test.  Myriad Genetics is therefore working with payers to make EndoPredict widely accessible to patients.  So far, the test has received positive coverage decisions from 19 payers, bringing total coverage to over 70 million patients in the U.S.

Breast cancer is said to be the second major cause of death among women.  A woman living in the U.S. has a 12.3% lifetime risk of being diagnosed with breast cancer.  In 2017, around 246,660 women are likely to be affected by invasive breast cancer.

As per a report by Transparency Market Research, the global breast cancer market is estimated to reach a worth of $7,853.1 million in 2023, at a CAGR of 58.3%. Myriad Genetics believes that the U.S. rollout of EndoPredict strengthens its oncology product portfolio. By incorporating clinical features and generating an individualized patient test result, EndoPredict fulfills the physicians’ need to detect the disease with utmost precision.

Stock Performance

Myriad Genetics has been performing well for quite some time. In the last one month, the company has been trading above the Zacks categorized Medical - Biomedical and Genetics industry. The stock gained 13.2%, compared to the broader industry’s addition of only 2.8%.



Notably, in the recently concluded second quarter of fiscal 2017, the company witnessed a 78% year-over-year rise in EndoPredict testing revenues. Since the company strives to diversify revenues by commercializing its new products, we believe Myriad Genetics is well positioned to capitalize on its recent launch of EndoPredict test under the breast cancer portfolio.

Zacks Rank & Key Picks

Myriad Genetics currently has a Zacks Rank #3 (Hold). Better-ranked stocks in the medical product sector are Inogen, Inc. (INGN - Free Report) , Bovie Medical Corporation and Cardiovascular Systems, Inc. . Inogen sports a Zacks Rank #1 (Strong Buy) while the other two companies carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Inogen gained 82.9% in the last one year in comparison to the S&P 500’s gain of 17.7%. The company has a stellar four-quarter average earnings surprise of over 49.08%.

Bovie Medical surged 51.4% in the last one year in comparison to the S&P 500. It has a four-quarter average earnings surprise of 28.7%.

Cardiovascular Systems gained over 100% in the past one year, better than the S&P 500 mark. The stock has an impressive long-term earnings growth rate of 16.7% for the next five years, compared to the industry average of 15.2%.

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