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Myriad Genetics' (MYGN) New Deal to Use MRD Testing Platform
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Myriad Genetics, Inc. (MYGN - Free Report) recently announced a research collaboration with Memorial Sloan Kettering Cancer Center (“MSK”). The partnership will study the use of minimal residual disease (MRD) testing in breast cancer by using Myriad’s MRD testing platform — a tumor-informed high-definition assay that uses whole-genome sequencing to achieve high sensitivity and specificity for circulating tumor DNA (ctDNA).
Leveraging Myriad’s MRD test will enhance MSK’s ability to transform the treatment for patients with metastatic breast cancer by better determining patients who will or will not respond to a certain therapy.
News in Detail
Several publications have demonstrated that MRD testing provides prognostic information about cancer recurrence. However, Myriad’s collaborative study with MSK will be among the first few to assess the predictive benefits of MRD testing associated with particular treatments.
The company’s high-definition MRD research testing platform based on whole-genome sequencing often has thousands of tumor-specific sites to track rather than the tens of sites available in other MRD assays. The increased number of sites is particularly important in breast cancer, which tends to have a low tumor fraction.
Image Source: Zacks Investment Research
The MSK research team will investigate the use of MRD testing for patients in two breast cancer cohorts. The first will be in a metastatic patient population treated with CDK4/6 inhibitors and will evaluate the ability of MRD testing to predict treatment responses. The second will be focused on the neoadjuvant setting and assess the association of MRD testing with chemotherapy treatment responses.
Myriad’s MRD test is available for use in research studies pursued jointly by Myriad and academic or pharmaceutical investigators. It can be used to monitor ctDNA levels throughout a cancer patient’s clinical care, starting immediately after diagnosis and continuing through survivorship monitoring.
Industry Prospects
Per a research report, the global MRD testing market was valued at $1.89 million in 2022 and is expected to witness a CAGR of 11.45% up to 2030.
Factors such as the increasing prevalence of cancer, increasing consumer awareness for therapy and increasing funding for research with an increasing disposable income in emerging economies augment the growth of the market.
Recent Developments
In June 2023, Myriad Genetics entered into an agreement with The University of Texas MD Anderson Cancer Center, wherein the research team at MD Anderson will investigate the use of Myriad’s MRD testing platform as a non-invasive tool to inform treatment selection, surveillance and radiotherapy treatment responses in individuals with metastatic RCC.
Further, the company is making strides with Precise MRD — a monitoring test based on whole genome sequencing to deeply interrogate tumors, detect cancer recurrence earlier and help guide treatment decisions. Myriad remains on track with its Research Use Only introduction in the second half of 2023 with the pharma and oncology partners. This will be followed by a commercial launch, expected in 2025.
Price Performance
In the past six months, Myriad Genetics’ shares have decreased 28.3% compared with the industry’s decline of 7.6%.
Zacks Rank and Key Picks
Myriad Genetics currently carries a Zacks Rank #3 (Hold).
Haemonetics’ stock has risen 17.5% in the past year. Earnings estimates for Haemonetics have increased from $3.56 to $3.74 in 2023 and $3.96 to $4.07 in 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%.
Estimates for Quanterix’s 2023 loss per share have narrowed from $1.19 to 97 cents in the past 30 days. Shares of the company have increased 173.7% in the past year against the industry’s decline of 5.3%.
QTRX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%.
Estimates for SiBone’s 2023 loss have narrowed from $1.42 to $1.27 per share in the past 30 days. Shares of the company have increased 22.8% in the past year compared with the industry’s rise of 1%.
SIBN’s earnings beat estimates in all the trailing four quarters, the average surprise being 20.37%. In the last reported quarter, SiBone delivered an earnings surprise of 26.83%.
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Myriad Genetics' (MYGN) New Deal to Use MRD Testing Platform
Myriad Genetics, Inc. (MYGN - Free Report) recently announced a research collaboration with Memorial Sloan Kettering Cancer Center (“MSK”). The partnership will study the use of minimal residual disease (MRD) testing in breast cancer by using Myriad’s MRD testing platform — a tumor-informed high-definition assay that uses whole-genome sequencing to achieve high sensitivity and specificity for circulating tumor DNA (ctDNA).
Leveraging Myriad’s MRD test will enhance MSK’s ability to transform the treatment for patients with metastatic breast cancer by better determining patients who will or will not respond to a certain therapy.
News in Detail
Several publications have demonstrated that MRD testing provides prognostic information about cancer recurrence. However, Myriad’s collaborative study with MSK will be among the first few to assess the predictive benefits of MRD testing associated with particular treatments.
The company’s high-definition MRD research testing platform based on whole-genome sequencing often has thousands of tumor-specific sites to track rather than the tens of sites available in other MRD assays. The increased number of sites is particularly important in breast cancer, which tends to have a low tumor fraction.
Image Source: Zacks Investment Research
The MSK research team will investigate the use of MRD testing for patients in two breast cancer cohorts. The first will be in a metastatic patient population treated with CDK4/6 inhibitors and will evaluate the ability of MRD testing to predict treatment responses. The second will be focused on the neoadjuvant setting and assess the association of MRD testing with chemotherapy treatment responses.
Myriad’s MRD test is available for use in research studies pursued jointly by Myriad and academic or pharmaceutical investigators. It can be used to monitor ctDNA levels throughout a cancer patient’s clinical care, starting immediately after diagnosis and continuing through survivorship monitoring.
Industry Prospects
Per a research report, the global MRD testing market was valued at $1.89 million in 2022 and is expected to witness a CAGR of 11.45% up to 2030.
Factors such as the increasing prevalence of cancer, increasing consumer awareness for therapy and increasing funding for research with an increasing disposable income in emerging economies augment the growth of the market.
Recent Developments
In June 2023, Myriad Genetics entered into an agreement with The University of Texas MD Anderson Cancer Center, wherein the research team at MD Anderson will investigate the use of Myriad’s MRD testing platform as a non-invasive tool to inform treatment selection, surveillance and radiotherapy treatment responses in individuals with metastatic RCC.
Further, the company is making strides with Precise MRD — a monitoring test based on whole genome sequencing to deeply interrogate tumors, detect cancer recurrence earlier and help guide treatment decisions. Myriad remains on track with its Research Use Only introduction in the second half of 2023 with the pharma and oncology partners. This will be followed by a commercial launch, expected in 2025.
Price Performance
In the past six months, Myriad Genetics’ shares have decreased 28.3% compared with the industry’s decline of 7.6%.
Zacks Rank and Key Picks
Myriad Genetics currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Haemonetics (HAE - Free Report) , Quanterix (QTRX - Free Report) and SiBone (SIBN - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Haemonetics’ stock has risen 17.5% in the past year. Earnings estimates for Haemonetics have increased from $3.56 to $3.74 in 2023 and $3.96 to $4.07 in 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%.
Estimates for Quanterix’s 2023 loss per share have narrowed from $1.19 to 97 cents in the past 30 days. Shares of the company have increased 173.7% in the past year against the industry’s decline of 5.3%.
QTRX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%.
Estimates for SiBone’s 2023 loss have narrowed from $1.42 to $1.27 per share in the past 30 days. Shares of the company have increased 22.8% in the past year compared with the industry’s rise of 1%.
SIBN’s earnings beat estimates in all the trailing four quarters, the average surprise being 20.37%. In the last reported quarter, SiBone delivered an earnings surprise of 26.83%.