According to the company, the Prolaris test has been evaluated in more than 5,000 patients across 11 clinical studiesand six publications in peer-reviewed medical journals. Based on this strong data set, Myriad Genetics is highly optimistic about the reimbursement coverage by CMS which the company expects by the end of June 2014.
Forum on USPTO 101 Guidelines
The USPTO has announced that it is hosting a forum on the 101 Guidelines, in order “to solicit feedback from organizations and individuals.” The forum will be held May 9, 2014, from 1:00 to 4:00 pm at the USPTO’s headquarters in Alexandria, Virginia.
According to the USPTO press release, Deputy Under Secretary of Commerce for Intellectual Property and Deputy Director of the USPTO Michelle K. Lee stated that ”this forum will provide an opportunity for participants to present their interpretation of the impact of Supreme Court precedent on the complex legal and technical issues involved in subject matter eligibility analyses during patent examination.” The USPTO is particularly interested in “alternative” approaches to interpreting the relevant Supreme Court decisions (supported by “legal rationale”) and “additional examples… to create a more complete picture of the impact of Supreme Court precedent on subject matter eligibility.”
The USPTO is requiring preregistration for the forum, as detailed on the USPTO’s subject matter eligibility webpage.
It will be interesting to see what alternatives are suggested, and whether the alternatives take similar or distinct approaches. It also will be interesting to see how many alternatives the USPTO adopts, and how quickly it issues revised guidelines.
Posted Oct. 1, 2013 at 10:51 a.m.
Winning a battle, losing a war: Why ACLU's strategy in Myriad Genetics patent case may have backfired
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By EDWARD R. ERGENZINGER, Ward and Smith, P.A.
Tags: Biotech & Life Science, TechLaw
Analysis: The real losers after Myriad patent case may be members of the general public, who will be denied access to useful information that might otherwise have been part of the public domain once the patent term expired. Is that what the ACLU intended? Please don't get me wrong; the ACLU does a lot of good defending and preserving the individual rights and liberties guaranteed by the Constitution and laws of the United States. I'm just afraid that their foray into the patent arena has resulted in a myriad (pun intended) of misunderstood implications and unintended consequences
king - looks like this to me......up a buck in first 5 min. down two bucks from high of the day the rest of the day. then up a buck back to even last 5 min...........LOL
Myriad Genetics takes in twice as much revenue from Medicare — $54 million in 2012 — as all other laboratories and similar businesses in Utah combined, according to an analysis of federal data.
Other clinical labs, ambulance services and surgical centers accounted for another $25.6 million that year, according to data provided by the U.S. Centers for Medicare and Medicaid. The data do not include hospitals.
The Obama administration cast the disclosure as part of an effort to make the health care system more transparent. Open-government advocates and journalists have been pressing for release of the data for decades; some doctor groups resisted the release.
The Wall Street Journal, which got advance access to the data, built an interactive graphic that displays the Medicare reimbursement by state, specialty or provider. The top 200 medical providers in Utah took in nearly $160 million in 2012, about half going to doctors and half to other kinds of providers.
Myriad Genetics accounted for a third of the Medicare money billed in Utah because it’s the largest DNA lab in the country, with tests for hereditary breast, ovarian and colon cancer.
And, said spokesman Ron Rogers, Myriad does all of its tests at its Salt Lake City lab instead of having labs in many states, as other national companies have.
None of the tests that Myriad charges Medicare for costs much: the priciest is $14.07, the data show. But, Rogers explained, genetic sequencing for a single patient can involve hundreds of the tests.
For each patient, for example, the BRCA1 and BRCA1 genetic sequencing tests for breast cancer performed by Myriad cost Medicare $2,767 this year, according to a Securities and Exchange Commission filing this month.
Medicare comprises only about 10 percent of Myriad’s revenue, far less than the 30 percent or 40 percent that other companies in the category report.
Short thesis is dead. Gitbpounded on Zack's table with sledge hammer! Amazing level of confidence in upward movement from here. Could spark the squoooeeeeewwze!
Amazing.. now going from pounding table to hitting it with a sledge hammer. Never seen this level of confidence.seventh time in a few weeks!! Twice in 2 days!! Strong buy#1 rated...Investors are betting against Myriad (MYGN), Should You?
Zacks By Zacks Equity Research 18 minutes ago
Many investors appear to be quite bearish on Myriad Genetics, Inc. (MYGN), especially if you look at the percentage of the float that is sold short for this stock. Currently, 53.7% of the float is sold short, suggesting an extreme level of bearishness for MYGN.
However, it is worth noting that earnings estimates have actually been moving higher for the company, despite the pessimism. Thanks to these rising estimates, we have a Zacks Rank #1 (Strong Buy) on MYGN, so we clearly don’t believe in the negativity surrounding this firm, and are instead looking for shares of MYGN to move higher in the weeks ahead.
Motley Foll artilce from today: cant post link -
Why are investors shorting Myriad Genetics?
•Two factors have been fueling the fire for bets against Myriad Genetics since last summer. First, in June the U.S. Supreme Court struck down a handful of Myriad patents that allowed the company to protect its BRACAnalysis gene test from competition. With naturally occurring genes in the body deemed not patentable, a number of would-be competitors entered the market for BRCA 1 and BRCA 2 gene tests, either directly or indirectly, within days. Second, the Centers for Medicare and Medicaid Services in December announced new proposed Medicare reimbursements of just $1,438 for Myriad's BRACAnalysis test, down nearly 50% from the previous reimbursement of $2,795 for the gene test. With BRACAnalysis comprising nearly 70% of Myriad's revenue in its latest quarter, short-sellers are simply counting on tough competition and weaker reimbursements to crush shares.
Is this short interest warranted?
•With the looming gray cloud of the CMS' decision, some level of skepticism has been deserved. However, now that we know the agency is only going to cut the Medicare reimbursement rate for BRACAnalysis by 22%, to $2,184, shareholders can breathe a bit easier. In addition to this favorable decision, Myriad's top and bottom lines are headed in the right direction with the company handily outpacing Wall Street's expectations in its latest quarter. Myriad is also bringing in a fresh line of rheumatoid arthritis diagnostics with the strategic purchase of privately held Crescendo Bioscience for $270 million, which should be accretive to earnings. All told, Myriad isn't the screaming buy it once was, but short-sellers could continue to get BURNED (emphasis added!) here if they aren't careful.
wondering out loud as to the size of the market for second opinion BRCA tests performed by myriad when....the first test was non-informative and provided by a competitor - either a VUS or other indeterminate result.....anyone?
Analyst Bullish On Medical Research, Equipment Stocks
Tue, Apr 08 2014 00:00:00 E 00_WEB
By VANCE CARIAGA, INVESTOR'S BUSINESS DAILY
Posted 01:33 PM ET
A new analyst report from Cowen & Co. offers an upbeat assessment of medical research and equipment stocks ahead of first-quarter earnings, thanks to improving end markets.
In his report on the Life Sciences and Diagnostic Tools sectors on Tuesday, analyst Doug Schenkel wrote that "most companies are poised to meet or beat Q1 expectations."
That expectation — combined with "confidence-building, forward-looking commentary" and positive updates on end markets — could help share prices in the sector recover from recent slumps, Schenkel added.
Among the companies he reckons are in the best position to beat Q1 estimates are...Myriad Genetics (MYGN),
Of those six stocks, Myriad has the highest IBD Composite Rating, at 99.
Myriad has had the best stock action of late, reaching a five-year high of 42.50 on Friday. Its shares are up more than 90% since the beginning of the year.
Companies in life sciences and diagnostic tools should benefit from growth in most end markets, Schenkel says.
Myriad Genetics (MYGN): Shares of this Salt Lake City-based molecular diagnostic company, whose products assess a person's risk of developing disease, guide treatment decisions and assess risk of disease progression and recurrence, soared in January and February. It got another big boost this week when the government announced it would be paying a higher reimbursement for one of Myriad's main tests than expected. Myriad's moat "primarily stems from its proprietary database of mutant variations amassed through its previous monopoly position in BRCA testing", according to Morningstar analysts.
Myriad gets high marks from my Greenblatt-based model, which thinks it has more room to run. It likes the stock's 11.1% earnings yield and 48.6% return on capital.
there was a research downgrade this am............someone else getting the thesis wrong imho. we will all have the chance to sell at that price or greater in the next 4 weeks imho. earnings in next 4 weeks............