Myriad Genetics, Inc. (MYGN - Free Report) recently announced that its BRACAnalysis CDx companion diagnostic test has successfully identified metastatic pancreatic cancer patients, who have received benefits from being treated with Lynparza (olaparib) in the Phase III POLO study.
For investors’ notice, Lynparza is a novel PARP inhibitor that is being commercially developed by AstraZeneca and Merck. However, the inhibitor is yet to receive FDA’s approval for gBRCAm pancreatic cancer.
The outcome further fortifies Myriad Genetics’ foothold in the global pancreatic cancer therapy market.
About the BRACAnalysis Test
BRACAnalysis CDx is an in vitro diagnostic device intended for the qualitative detection and categorization of variants in the protein coding regions as well as intron/exon boundaries of the BRCA1 and BRCA2 genes. The device uses genomic DNA obtained from whole blood specimens collected in EDTA.
Recently, Myriad Genetics has collaborated with AstraZeneca, which led to several regulatory go-aheads for BRACAnalysis CDx test.
For instance, last December, FDA approved BRACAnalysis CDx as a companion diagnostic to identify patients diagnosed with advanced ovarian cancer who are eligible for first-line maintenance treatment with olaparib. Recently, the Japanese Ministry of Health, Labor, and Welfare approved BRACAnalysis CDx as a companion diagnostic to identify patients with germline BRCAm metastatic breast cancer who have previously received t chemotherapy treatment and are eligible for treatment with Lynparza.
Chronic inflammation of the pancreas (pancreatitis), diabetes, smoking and obesity have caused increasing incidences of pancreatic cancer. Per the Insight Partners, the global pancreatic cancer therapy market is estimated to reach a market worth of $4.05 billion in 2025 at a CAGR of 8.1%. Hence, the outcome of this study is well-timed.
Myriad Genetics has underperformed its industry in the past year. The stock has declined 38.4% compared with the industry’s 22% dip.
Zacks Rank and Key Picks
Myriad Genetics currently holds a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader medical space are Cerner Corporation (CERN - Free Report) , Penumbra (PEN - Free Report) and Bruker Corporation (BRKR - Free Report) . While Cerner sports a Zacks Rank #1 (Strong Buy), Penumbra and Bruker carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Cerner’s long-term earnings growth rate is expected to be 13.5%.
Penumbra’s long-term earnings growth rate is projected at 21.5%.
Bruker’s long-term earnings growth rate is estimated at 11.7%.
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