U.S. markets closed
  • S&P 500

    3,911.74
    +116.01 (+3.06%)
     
  • Dow 30

    31,500.68
    +823.32 (+2.68%)
     
  • Nasdaq

    11,607.62
    +375.43 (+3.34%)
     
  • Russell 2000

    1,765.74
    +54.06 (+3.16%)
     
  • Crude Oil

    107.06
    +2.79 (+2.68%)
     
  • Gold

    1,828.10
    -1.70 (-0.09%)
     
  • Silver

    21.13
    +0.09 (+0.42%)
     
  • EUR/USD

    1.0559
    +0.0034 (+0.33%)
     
  • 10-Yr Bond

    3.1250
    +0.0570 (+1.86%)
     
  • GBP/USD

    1.2270
    +0.0009 (+0.07%)
     
  • USD/JPY

    135.2100
    +0.2770 (+0.21%)
     
  • BTC-USD

    21,263.68
    +136.20 (+0.64%)
     
  • CMC Crypto 200

    462.12
    +8.22 (+1.81%)
     
  • FTSE 100

    7,208.81
    +188.36 (+2.68%)
     
  • Nikkei 225

    26,491.97
    +320.72 (+1.23%)
     

Myriad Genetics Showcases Advancements in Precision Medicine with Recent Oncology Portfolio Expansion and New Data Presentations at ASCO 2022

  • Oops!
    Something went wrong.
    Please try again later.
·8 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
Myriad Genetics, Inc.
Myriad Genetics, Inc.

SALT LAKE CITY, May 26, 2022 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc., (NASDAQ: MYGN), a leader in genetic testing and precision medicine, will present multiple studies at the 2022 American Society of Clinical Oncology (ASCO) Annual Meeting, highlighting the value of genetic insights to guide and clarify cancer treatment and risk assessment.

The presentations underscore Myriad’s commitment to partnering with oncologists and other healthcare partners to support health equity and provide data-driven insights to help guide clinical care and improve outcomes. They follow the recent launch of Precise™ Oncology Solutions, a comprehensive suite of solutions offering germline testing, tumor profiling, and companion diagnostic options, including evaluation for homologous recombination deficiency (HRD). The suite offers a streamlined testing experience designed to help oncologists recommend personalized treatment plans for their patients.

Precise Oncology Solutions currently includes Myriad’s Precise™ Tumor Test, MyRisk™ Hereditary Cancer Test and its two FDA-approved companion diagnostic tests: MyChoice® CDx and BRACAnalysis CDx®. A new Precise Treatment Registry combines germline, somatic and HRD genetic data to accelerate the pace of precision cancer research and equitable advancements in patient care. Additionally, Myriad recently announced it will expand its strategic partnership with Intermountain Precision Genomics, a service of Intermountain Healthcare, to offer a liquid biopsy therapy selection test as part of its growing oncology portfolio in 2023.

Also at ASCO, Myriad will highlight a validation study for its market-leading MyRisk Hereditary Cancer Test with RiskScore®, the first polygenic breast cancer risk assessment clinically and analytically validated for women of all ancestries. Providers can gain critical insights to help identify women with an increased risk of breast cancer who do not have a harmful mutation in well-known breast cancer genes, like BRCA1.

“Cancer prevention and treatment are most effective when informed by genetic insights,” said Thomas Slavin, M.D., chief medical officer, Myriad Genetics. “Our recent portfolio expansion and presentations at ASCO highlight our efforts to continually grow and innovate to better support physicians with comprehensive data-driven answers that inform treatment decisions, reduce healthcare disparities, and improve outcomes for all patients.”

Data from Myriad to be presented at the meeting:

A breast cancer (BC) risk model incorporating Tyrer-Cuzick version 8 (TCv8) and a polygenic risk score for diverse ancestries (Abstract #366104) 
Session Type: Poster Session
Date: Monday, June 6, 2022
Time: 8:00-11:00 a.m. CDT

This is the first breast cancer risk model to include breast density, family history and a polygenic risk score (PRS) based on genetically determined ancestry that is validated for diverse populations. The addition of PRS substantially improved risk stratification over TCv8 alone and may allow for a more personalized approach to breast cancer risk reduction.

Ancestry-specific risk of triple-negative breast cancer (TNBC) associated with germline pathogenic variants (PV) in hereditary cancer (CA) predisposition genes (Abstract #377784)
Session Type: Poster Discussion
Date: Monday, June 6, 2022
Time: 4:30-6:00 p.m.; 1:15-4:15 p.m. CDT

In this population of women who had multigene panel testing, pathogenic variants in BRCA1, BRCA2, PALB2, RAD51C, RAD51D, and BARD1 were associated with substantial risk of triple-negative breast cancer (TNBC). There were no significant differences in pathogenic variant associated TNBC risks across ancestries. TNBC was reported more frequently in women of African ancestry.

Exploring homologous recombination deficiency thresholds for predicting response to platinum-based treatment in triple negative breast cancer (Abstract #364894)
Session Type: Poster Session
Date: Monday, June 6, 2022
Time: 8:00-11:00 a.m. CDT

This exploratory analysis evaluated the ability of ≥ 33 or ≥ 42 genomic instability score (GIS) thresholds to predict response to platinum-based treatment in patients with triple-negative breast cancer. This study of 204 tumors of mixed BRCA wild-type, BRCA mutations and unknown showed that a GIS of ≥ 33 may be the most appropriate threshold to predict response to platinum-based treatment in patients with TNBC; however, a prospective trial is needed.

Adherence to EndoPredict test scores for extended endocrine therapy management in the prospective EndoPredict Extended Endocrine Trial (EXET) (Abstract #371368)
Session Type: Poster Session
Date: Monday, June 6, 2022
Time: 8:00 -11:00 a.m. CDT

In this cohort of patients, even when accounting for other clinical factors such as node status, tumor grade, age at diagnosis, and other variables, Myriad’s EndoPredict® Breast Cancer Prognostic Test provided significant information for clinical decisions on extended endocrine therapy.

About Myriad Genetics
Myriad Genetics is a leading genetic testing and precision medicine company dedicated to advancing health and well-being for all. Myriad develops and commercializes genetic tests that help assess the risk of developing disease or disease progression and guide treatment decisions across medical specialties where genetic insights can significantly improve patient care and lower healthcare costs. Fast Company named Myriad among the World’s Most Innovative Companies for 2022. For more information, visit www.myriad.com.

Myriad, the Myriad logo, BRACAnalysis, BRACAnalysis CDx, Colaris, Colaris AP, MyRisk, Myriad MyRisk, MyRisk Hereditary Cancer, MyChoice CDx, Prequel, Prequel with Amplify, Amplify, Foresight, Precise, FirstGene, Health.Illuminated., RiskScore, Prolaris, GeneSight, and EndoPredict are trademarks or registered trademarks of Myriad Genetics, Inc. © 2022 Myriad Genetics, Inc. All rights reserved.

Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the company presenting multiple studies at the 2022 ASCO Annual Meeting, the company’s expansion of its strategic partnership with Intermountain Precision Genomics to offer a liquid biopsy therapy selection test in 2023, the company’s plan to highlight a validation study for its MyRisk Hereditary Cancer Test with RiskScore at the 2022 ASCO Annual Meeting, and the company’s strategic imperatives under the caption “About Myriad Genetics.” These “forward-looking statements” are management’s present expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those described in the forward-looking statements. These risks include, but are not limited to: uncertainties associated with COVID-19, including its possible effects on the company’s operations and the demand for its products and services and the company’s ability to efficiently and flexibly manage its business; the risk that sales and profit margins of the company’s existing molecular diagnostic tests may decline or that the company may not be able to operate its business on a profitable basis; risks related to the company’s ability to generate sufficient revenue from its existing product portfolio or in launching and commercializing new tests; risks related to changes in governmental or private insurers’ coverage and reimbursement levels for the company’s tests or the company’s ability to obtain reimbursement for its new tests at comparable levels to its existing tests; risks related to increased competition and the development of new competing tests and services; the risk that the company may be unable to develop or achieve commercial success for additional molecular diagnostic tests in a timely manner, or at all; the risk that the company may not successfully develop new markets for its molecular diagnostic tests, including the company’s ability to successfully generate revenue outside the United States; the risk that licenses to the technology underlying the company’s molecular diagnostic tests and any future tests are terminated or cannot be maintained on satisfactory terms; risks related to delays or other problems with operating and constructing the company’s laboratory testing facilities; risks related to public concern over genetic testing in general or the company’s tests in particular; risks related to regulatory requirements or enforcement in the United States and foreign countries and changes in the structure of the healthcare system or healthcare payment systems; risks related to the company’s ability to obtain new corporate collaborations or licenses and acquire or develop new technologies or businesses on satisfactory terms, if at all; risks related to the company’s ability to successfully integrate and derive benefits from any technologies or businesses that it licenses, acquires, or develops; risks related to the company’s projections about the potential market opportunity for the company’s current and future products; the risk that the company or its licensors may be unable to protect or that third parties will infringe the proprietary technologies underlying the company’s tests; the risk of patent-infringement claims or challenges to the validity of the company’s patents; risks related to changes in intellectual property laws covering the company’s molecular diagnostic tests, or patents or enforcement, in the United States and foreign countries; risks related to security breaches, loss of data and other disruptions, including from cyberattacks; risks of new, changing and competitive technologies and regulations in the United States and internationally; the risk that the company may be unable to comply with financial operating covenants under the company’s credit or lending agreements; risks related to the material weakness related to general information technology controls, including the impact thereof and the company’s remediation plan, and its ability to achieve and maintain effective disclosure controls and procedures and internal control over financial reporting; risks related to current and future lawsuits, including product or professional liability claims; and other factors discussed under the heading “Risk Factors” contained in Item 1A of the company’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission on February 25, 2022, as well as any updates to those risk factors filed from time to time in the company’s Quarterly Reports on Form 10-Q or Current Reports on Form 8-K.

Media Contact:

Investor Contact:

Megan Manzari

Nathan Smith

(385) 318-3718

(801) 505-5067

Megan.Manzari@myriad.com

Nathan.Smith@myriad.com