Myriad Genetics, Inc. (MYGN - Free Report) recently announced crucial outcomes from two studies of the myRisk Hereditary Cancer test. The results of the studies are set to be featured at the annual meeting of the American Society of Clinical Oncology (ASCO). The favorable outcomes of the studies can be considered as major advancements in the field of breast cancer diagnosis and treatment.
Outcomes of The Two Studies
The first was the Women’s Health Initiative ancillary study (AS508), which used the myRisk Hereditary Cancer test. The test was aimed to investigate the incidence and penetrance of pathogenic variants across 28 genes in 2,195 post-menopausal women with breast cancer compared with 2,322 post-menopausal women without breast cancer.
Per the findings, women with post-menopausal breast cancer reported a high rate of inherited mutations in a range of cancer-causing genes. Also, the mutation rate did not reduce with age progression.The study also highlighted that approximately 7% of patients with breast cancer were tested positive for a pathogenic variant.
The second study assessed surgery effectiveness in a prospective, multi-institutional cohort of 1,537 women who received multiplex genetic panel testing with Myriad Genetics’ myRisk Hereditary Cancer test. The study indicated that patients with a clinically-actionable genetic mutation and/or personal history of cancer had a higher probability of undergoing surgery, while those with a VUS or negative result and no-cancer history had the least chance for the same.This study also proved that surgery was not over-utilized following genetic panel testing.
Per Global Market Insights, the global breast cancer therapeutics market size was valued at more than $16.22 billion in 2018 and is expected to witness a 9.5% CAGR from 2019 to 2025. Hence, the outcomes of these studies are well-timed.
Of late, Myriad Genetics is investing in a few crucial developments to fortify its foothold within the breast cancer market.
Recently, the company announced that the EndoPredict test (EPclin) identifies women with early-stage breast cancer who can safely skip extended endocrine therapy five years after diagnosis. Previoulsy, the company announced that an international team of cancer researchers has found that EndoPredict test predicts with precision which women with ER-positive, HER2-negative breast cancer will benefit from adjuvant chemotherapy.
Last year,Myriad Genetics announced that the United Kingdom’s National Institute for Health and Care Excellence (NICE) has included EndoPredict in its recommendations for guiding adjuvant chemotherapy decisions for people with ER-positive, HER2-negative early breast cancer and patients that are lymph node-negative.
Some key players in the biomedical and genetics market are Acorda Therapeutics (ACOR - Free Report) , Bio-Techne Corp (TECH - Free Report) and Aytu Bioscience (AYTU - Free Report) . These companies are tough competitors to Myriad Genetics.
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 >>