Myriad Genetics Inc. (MYGN) revealed favorable findings for its Prolaris test for the diagnosis of prostate cancer in patients. The findings of the study entitled 'Validation of a panel of cell cycle progression genes for improved risk-stratification in a contemporary radical prostatectomy cohort' were published in Journal of Clinical Oncology.
The primary inference of the study implies that Myriad’s Prolaris test was effective in stratifying men, based on the risk of biochemical recurrence. According to the study, Prolaris successfully predicted the elevated risk for recurrence of prostate cancer in 413 male patients who had undergone a radical prostatectomy surgery.
Research displayed the efficacy of Prolaris test as all the patients with low-risk Prolaris scores were found not to suffer from recurring prostate cancer within the five year study period. Nonetheless, 50% of the patients with high-risk Prolaris scores reported recurring prostate cancer. Notably, the prediction of the risk of prostate cancer recurrence based on Prolaris test scores were found to be more accurate compared with available clinical parameters used in risk assessment of patients.
Currently, Myriad’s Prolaris has published and peer reviewed data incorporating four major studies (including the one published in Journal of Clinical Oncology) involving more than 1,500 patients. Each of the studies indicates the clinical efficacy of predictive power of Prolaris test for prostate cancer recurrence and survival across a wide array of tissue formats.
We are encouraged by the company’s focus on Prolaris and studies which provide favorable data on the product. The company is also progressing on its commercialization efforts and increasing its sales team with an eye on the untapped $1.8 billion market in the U.S.
With BART (Bracanalysis Rearrangement Technology) and Colaris tests gaining traction, Prolaris appears to be the company’s lead pipeline candidate. We believe that the Prolaris test has the potential to become a significant revenue driver for Myriad. We look forward to the commercialization and reimbursement decision on Prolaris with full optimism.
The stock carries a Zacks Rank #2 (Buy). Other Zacks Rank #2 medical stocks are Conceptus (CPTS), Edwards Lifesciences (EW) and Covidien (COV).
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