San Diego, CA-based TrovaGene Inc. (TROV - Free Report) , a molecular diagnostic company, recently announced encouraging data pertaining to its Precision Cancer Monitoring (PCM) technology for both urine and plasma EGFR mutation testing. Notably, the results demonstrated greater detection sensitivity for PCM compared to tissue testing alone. The data will be presented in Vienna, Austria at the 17th World Conference on Lung Cancer.
Meanwhile, TrovaGene lost 4.8% to close at $2.95 following the news. The current trends also reveal lackluster sentiments as TrovaGene represents a negative one-year return of 54.3%, way lower than the S&P 500’s 5.8% over the same time frame.
Coming to the latest development, TrovaGene's abstract named, ‘A Highly Sensitive Next Generation Sequencing Platform for Detection of NSCLC EGFR T790M in Urine and Plasma’ was selected for an oral presentation at the conference. Notably, the PCM technology highlights the company’s flagship TROVERA urine and blood liquid biopsy platform in patients with late-stage non-small cell lung cancer progressing (NSCLC).
TrovaGene continues to present and publish clinical data along with study results. Of the other notable publications, a report demonstrated the TROVERA platform as highly sensitive for the detection of NSCLC EGFR mutations in urine and plasma in the ‘Journal of Thoracic Oncology’. Notably, TROVERA is a highly exclusive non-invasive test for the detection of EGFR T790M mutations in urine and blood of patients with NSCLC.
Meanwhile, the global liquid biopsy (test done on a sample of blood to look for cancer cells) market by cancer type is expected to reach a worth of $1.66 billion by 2021, growing at a CAGR of 23.4% (Markets and Markets). Such bullish prospects are expected to propel growth for TrovaGene in the coming quarters.
Of the other recent developments, TrovaGene has been selected as the liquid biopsy provider for a study named Precision Promise. The study is a large-scale precision medical trial to treat pancreatic cancer patients.
TrovaGene has also signed an ‘in-network provider agreement’ with Blue Cross Blue Shield of Illinois, a division of Health Care Service Corporation, which is likely to expand the company’s network in the coming quarters.
Zacks Rank & Other Key Picks
Currently, TrovaGene has a Zacks Rank #2 (Buy).
Other favorably ranked stocks in the broader medical space include HMS Holdings Corp. (HMSY - Free Report) , Medidata Solutions Inc. (MDSO - Free Report) and IDEXX Laboratories, Inc. (IDXX - Free Report) . Notably, HMS Holdings and Medidata Solutions carry a Zacks Rank #2 while IDEXX Laboratories sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
HMS Holdings Corp has a long-term expected growth rate of 14.26%. Notably, the company has a solid one-year return of roughly 53.8%.
Medidata Solutions has a strong one-year return of roughly 19.8%. The stock represents a long-term expected growth rate of 22.33%.
IDEXX Laboratories represents a solid one-year return of almost 68.7%. The company has a long-term expected growth rate of almost 14.96%.
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