We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Myriad Genetics, Inc. (MYGN - Free Report) recently presented encouraging data from the EMBRACA trial at the 2017 San Antonio Breast Cancer Symposium (SABCS) in Texas.
Data from the trial demonstrated the BRACAnalysis CDx test’s ability to effectively identify patients with metastatic breast cancer (MBC) who responded to Pfizer's investigational PARP inhibitor, talazoparib. The EMBRACA trial covered roughly 400 patients who were tested positive for germline BRCA mutations as determined by the BRACAnalysis CDx test.
Recent Developments in BRACAnalysis CDx
The company’s companion diagnostic program recently received a boost from the collaboration with AstraZeneca. In October, the company had announced the FDA’s acceptance of supplementary premarket approval (sPMA) application for BRACAnalysis CDx for usage as a companion diagnostic with AstraZeneca's PARP inhibitor Lynparza (olaparib) in patients with HER2-negative metastatic breast cancer. The company expects the FDA’s priority review process to be complete by third-quarter fiscal 2018. Per management, on approval, the test will be available for around 125,000 metastatic breast cancer patients.
Also, as a companion diagnostic to olaparib for the treatment of HER2- metastatic breast cancer patients, BRACAnalysis CDx has been submitted in Japan for review by the Pharmaceutical Medical Devices Agency (PMDA) and marketing approval by the Ministry of Health, Labor and Welfare. Per the company, this approval will help cash in on a market opportunity of more than 10,000 patients per year.
Myriad Genetics has also received a sPMA for BRACAnalysis CDx in March. Post-approval, BRACAnalysis CDx is being used as a complementary diagnostic test in ovarian cancer patients associated with improved progression free survival (PFS) when used with Tesaro’s PARP inhibitor Zejula (niraparib) maintenance therapy.
Market Potential
Myriad Genetics has been consistently making efforts to strengthen its hold in the high-potential breast cancer screening market. Per a report by DPI Research on Medium, the breast cancer screening market in the United States is expected to reach a value of roughly $5.8 billion by 2022. Moreover, per an article by BreastCancer.Org, approximately 252,710 new cases of invasive breast cancer in women are likely to be diagnosed in the United States in 2017. The article also mentions the expectation of 63,410 new cases of non-invasive breast cancer this year.
Share Price Performance
Myriad Genetics has been gaining investor confidence on consistently positive results. Over the past six months, the company’s share price has outperformed the broader industry. The stock has gained 84.1%, in comparison to the broader industry’s 2.1% rise.
PetMed has a long-term expected earnings growth rate of 10%. The stock has rallied roughly 97.5% over a year.
Align Technology has a long-term expected earnings growth rate of 28.9%. The stock has gained 133% in a year.
Luminex has a long-term expected earnings growth rate of 16.3%. The stock has gained 5.2% over the past three months.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Image: Bigstock
Myriad Genetics Presents Favorable EMBRACA Trial Results
Myriad Genetics, Inc. (MYGN - Free Report) recently presented encouraging data from the EMBRACA trial at the 2017 San Antonio Breast Cancer Symposium (SABCS) in Texas.
Data from the trial demonstrated the BRACAnalysis CDx test’s ability to effectively identify patients with metastatic breast cancer (MBC) who responded to Pfizer's investigational PARP inhibitor, talazoparib. The EMBRACA trial covered roughly 400 patients who were tested positive for germline BRCA mutations as determined by the BRACAnalysis CDx test.
Recent Developments in BRACAnalysis CDx
The company’s companion diagnostic program recently received a boost from the collaboration with AstraZeneca. In October, the company had announced the FDA’s acceptance of supplementary premarket approval (sPMA) application for BRACAnalysis CDx for usage as a companion diagnostic with AstraZeneca's PARP inhibitor Lynparza (olaparib) in patients with HER2-negative metastatic breast cancer. The company expects the FDA’s priority review process to be complete by third-quarter fiscal 2018. Per management, on approval, the test will be available for around 125,000 metastatic breast cancer patients.
Also, as a companion diagnostic to olaparib for the treatment of HER2- metastatic breast cancer patients, BRACAnalysis CDx has been submitted in Japan for review by the Pharmaceutical Medical Devices Agency (PMDA) and marketing approval by the Ministry of Health, Labor and Welfare. Per the company, this approval will help cash in on a market opportunity of more than 10,000 patients per year.
Myriad Genetics has also received a sPMA for BRACAnalysis CDx in March. Post-approval, BRACAnalysis CDx is being used as a complementary diagnostic test in ovarian cancer patients associated with improved progression free survival (PFS) when used with Tesaro’s PARP inhibitor Zejula (niraparib) maintenance therapy.
Market Potential
Myriad Genetics has been consistently making efforts to strengthen its hold in the high-potential breast cancer screening market. Per a report by DPI Research on Medium, the breast cancer screening market in the United States is expected to reach a value of roughly $5.8 billion by 2022. Moreover, per an article by BreastCancer.Org, approximately 252,710 new cases of invasive breast cancer in women are likely to be diagnosed in the United States in 2017. The article also mentions the expectation of 63,410 new cases of non-invasive breast cancer this year.
Share Price Performance
Myriad Genetics has been gaining investor confidence on consistently positive results. Over the past six months, the company’s share price has outperformed the broader industry. The stock has gained 84.1%, in comparison to the broader industry’s 2.1% rise.
Zacks Rank & Key Picks
Myriad Genetics has a Zacks Rank #3 (Hold).
A few better-ranked medical stocks are PetMed Express, Inc. (PETS - Free Report) , Align Technology, Inc. (ALGN - Free Report) and Luminex Corporation . Notably, PetMed, Align Technology and Luminex sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
PetMed has a long-term expected earnings growth rate of 10%. The stock has rallied roughly 97.5% over a year.
Align Technology has a long-term expected earnings growth rate of 28.9%. The stock has gained 133% in a year.
Luminex has a long-term expected earnings growth rate of 16.3%. The stock has gained 5.2% over the past three months.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>