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Genomic Health (GHDX) Oncotype DX GPS Test Results Positive
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Genomic Health, Inc. announced that use of the Oncotype DXGenomic Prostate Score (GPS) test leads to considerably higher use of active surveillance at six and 12 months compared to no testing within the same time period.
Published in Reviews in Urology, results of this large, independently conducted study bring the collective published clinical utility evidence to four studies in nearly 8,300 men, showing the impact of the GPS test in treatment planning.
The study assessed nearly 10,000 de-identified records to examine active surveillance use in patients tested with the Oncotype DX GPS test. Results demonstrated that in men who received the GPS test, active surveillance use was more than 30% higher than in men who did not receive the genomic test.
Per the press release, this publication also solidifies the evidence of GPS testing in the initial management of early prostate cancer and its ability to appropriately direct active surveillance use among low-risk patients.
Developments in Prostate Cancer
Genomic Health recently announced a multi-year research collaboration agreement with Janssen Pharmaceuticals. Through this partnership, the companies will evaluate the responsiveness of Genomic Health’s Oncotype DX GPS test to Janssen’s prostate cancer drug pipeline.
In November, Genomic Health announced an exclusive licensing agreement with biotechnology company, Cleveland Diagnostics, Inc. Per the deal, Genomic Health will be authorized to develop and market early- and late-stage new prostate cancer diagnostics tests based on Cleveland Diagnostics' proprietary IsoPSA reagent and SIA technology.
Also, in October, new study results were published validating the Oncotype DX Genomic Prostate Score’s test ability to predict prostate cancer death and the development of metastases at 10 years. With this study, the Oncotype DX GPS test is now uniquely validated to predict both these long-term endpoints as well as the risk of adverse pathology.
Again, in August, Genomic Health expanded Medicare coverage of the Oncotype DX GPS test post issuance of a positive final Local Coverage Determination (LCD) by Palmetto GBA — a Medicare Administrative Contractor (MAC). Per management, after the successful implementation of the final LCD in October, the total number of Medicare patients eligible for GPS test will increase by around 20,000.
Market Prospects
Per a report by Grand View Research, the global prostate cancer therapeutics market is expected to see a CAGR of 4.8% between 2014 and 2025. Considering the huge potential of the market, we believe the latest agreement is a strategic fit for Genomic Health to gain more shares in this space.
Stock Performance Solid
Over the past year, Genomic Health has been trading above the broader industry. While the stock has gained 14.6%, the industry rallied 3.9%.
Zacks Rank & Key Picks
Genomic Health carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader medical sector are Bio-Rad Laboratories (BIO - Free Report) , ResMed Inc. (RMD - Free Report) and PerkinElmer .
ResMed has a Zacks Rank #2. The company has a long-term expected earnings growth rate of 13%.
PerkinElmer has a long-term expected earnings growth rate of 12.3%. The stock carries a Zacks Rank #2.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
Genomic Health (GHDX) Oncotype DX GPS Test Results Positive
Genomic Health, Inc. announced that use of the Oncotype DXGenomic Prostate Score (GPS) test leads to considerably higher use of active surveillance at six and 12 months compared to no testing within the same time period.
Published in Reviews in Urology, results of this large, independently conducted study bring the collective published clinical utility evidence to four studies in nearly 8,300 men, showing the impact of the GPS test in treatment planning.
The study assessed nearly 10,000 de-identified records to examine active surveillance use in patients tested with the Oncotype DX GPS test. Results demonstrated that in men who received the GPS test, active surveillance use was more than 30% higher than in men who did not receive the genomic test.
Per the press release, this publication also solidifies the evidence of GPS testing in the initial management of early prostate cancer and its ability to appropriately direct active surveillance use among low-risk patients.
Developments in Prostate Cancer
Genomic Health recently announced a multi-year research collaboration agreement with Janssen Pharmaceuticals. Through this partnership, the companies will evaluate the responsiveness of Genomic Health’s Oncotype DX GPS test to Janssen’s prostate cancer drug pipeline.
In November, Genomic Health announced an exclusive licensing agreement with biotechnology company, Cleveland Diagnostics, Inc. Per the deal, Genomic Health will be authorized to develop and market early- and late-stage new prostate cancer diagnostics tests based on Cleveland Diagnostics' proprietary IsoPSA reagent and SIA technology.
Also, in October, new study results were published validating the Oncotype DX Genomic Prostate Score’s test ability to predict prostate cancer death and the development of metastases at 10 years. With this study, the Oncotype DX GPS test is now uniquely validated to predict both these long-term endpoints as well as the risk of adverse pathology.
Again, in August, Genomic Health expanded Medicare coverage of the Oncotype DX GPS test post issuance of a positive final Local Coverage Determination (LCD) by Palmetto GBA — a Medicare Administrative Contractor (MAC). Per management, after the successful implementation of the final LCD in October, the total number of Medicare patients eligible for GPS test will increase by around 20,000.
Market Prospects
Per a report by Grand View Research, the global prostate cancer therapeutics market is expected to see a CAGR of 4.8% between 2014 and 2025. Considering the huge potential of the market, we believe the latest agreement is a strategic fit for Genomic Health to gain more shares in this space.
Stock Performance Solid
Over the past year, Genomic Health has been trading above the broader industry. While the stock has gained 14.6%, the industry rallied 3.9%.
Zacks Rank & Key Picks
Genomic Health carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader medical sector are Bio-Rad Laboratories (BIO - Free Report) , ResMed Inc. (RMD - Free Report) and PerkinElmer .
Bio-Rad Laboratories has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The company has a long-term expected earnings growth rate of 25%.
ResMed has a Zacks Rank #2. The company has a long-term expected earnings growth rate of 13%.
PerkinElmer has a long-term expected earnings growth rate of 12.3%. The stock carries a Zacks Rank #2.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>