improvement in product sales came mainly on the back of double-digit growth in test volume across all areas of the company’s business. The increased adoption of the prostate cancer test and the approval of Oncotype DX by National Institute for Health and Care Excellence’s (NICE) also aided the successful results. NICE recognized Oncotype DX as the sole test to predict recommended chemotherapy benefits for patients with early-stage, hormone receptor-positive, invasive breast
During the reported quarter, international product revenues grew 25% year over year to $10.1 million. Genomic provided 21,790 Oncotype DX test results, up 21%
from the year-ago quarter.
Gross profit increased 11.3% year over year to $55.2 million. However, the recent prostate cancer test launch and impact of sequestration led to a contraction of 93
basis points (bps) in gross margin, which stood at 83.7% in the quarter. On the other hand, with a 19.3% rise in operating expenses to $54.7 million, the company
incurred operating profit of a nominal $463 million, down a significant 87.5% from the prior-year quarter. The rise in operating expenses originated from higher
research and development (up 20.0% to $14.7 million), selling and marketing (up 20.8% to $26.0 million), and general and administrative (up 15.7% to $14.0
Genomic Health exited the third quarter with cash and cash equivalents, and short-term marketable securities of $114.0 million, up from $99.1 million at the end of
NICE in the U.K. issued final guidance recommending Oncotype DX as the only multi-gene breast cancer test to guide chemotherapy treatment decisions. Moreover,
Genomic health established node-positive and ductal carcinoma in situ (DCIS) coverage for approximately 1.3 million U.S. lives through a contract with a large Blue Cross Blue Shield state plan.
They've been quietly acquiring as many shares as they can get around $30 and own 45% of the company
sympathies kvncmcdd ( blueyedcatch............whatever) .Your 16.50 breakout call failed.How could say such a thing with the short interest piling in this week? Tooo much fun!
I am YTD INSM + 110%
Genomic Health, Inc. : NICE Recommends Genomic Health's Oncotype DX® Test To Guide Chemotherapy Treatment Decisions For Qualified Early-Stage Invasive Breast Cancer Patients
09/25/2013 | 05:31am US/EasternRecommend:
REDWOOD CITY, Calif., Sept. 25, 2013 /PRNewswire/ -- Genomic Health, Inc. today announced that the National Institute for Health and Care Excellence (NICE) in the United Kingdom has issued its final guidance recommending Oncotype DX(®) as the only multi-gene breast cancer test for use in clinical practice to guide chemotherapy treatment decisions for patients with early-stage, hormone receptor-positive, invasive breast cancer. Consistent with leading international breast cancer treatment guidelines, including ASCO(®), NCCN(®), ESMO(®) and St. Gallen, NICE's recommendation recognizes the unparalleled evidence of the clinical validity of the Oncotype DX test and its ability to enable physicians and their patients to make more informed, individualized decisions.
"It is encouraging to see growing recognition of the value of genomic testing. Its provision has enhanced the care of breast cancer patients around the world and it will now be available as an option in the UK," said David Miles, M.D., medical oncologist at Mount Vernon Cancer Centre, Northwood, Middlesex, United Kingdom. "NICE's recommendation for the use of Oncotype DX in the UK is an important step forward, enabling physicians and patients to make better-informed treatment decisions based on the biology of an individual patient's breast cancer."
To date, more than 1,500 women in the UK have utilized the Oncotype DX test to help guide their treatment decisions. Breast cancer is the most commonly diagnosed cancer in women, with almost 50,000 people diagnosed each year in the UK. Most of these patients are diagnosed with early-stage, invasive breast cancer and a significant number of them could benefit from this test under the NIC
flatlander.great strategy (covered calls ) unless they get taken out.Consolidation in the industry has accelerated.