LONDON, UK / ACCESSWIRE / December 14, 2017 / Active-Investors issued a free report on Myriad Genetics, Inc. (NASDAQ: MYGN) ("Myriad"), which is readily accessible upon registration at www.active-investors.com/registration-sg/?symbol=MYGN as the Company's latest news hit the wire. On December 12, 2017, the Company announced that the data from its EMBRACA clinical trials indicate that its BRACAnalysis CDx® test is able to positively identify patients with metastatic breast cancer (MBC) who responded to Pfizer Inc.'s (NYSE: PFE) investigational PARP inhibitor, Talazoparib. Sign up now for our free research reports at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Myriad Genetics most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage on MYGN and PFE are available at:
www.active-investors.com/registration-sg/?symbol=MYGN
www.active-investors.com/registration-sg/?symbol=PFE
The Company presented the clinical data from its EMBRACA trial at the San Antonio Breast Cancer Symposium (SABCS) held at San Antonio, Texas between December 05, 2017, to December 09, 2017.
Results from EMBRACA trial
Approximately 400 patients participated in the Company's EMBRACA trial. All these 400 patient candidates tested positive for germline BRCA mutations based on the BRACAnalysis CDx® tests conducted on them. While presenting the results of the EMBRACA trial at SABCS, the Company disclosed that the trial results confirmed that patients with gBRCA+ locally advanced and/or MBC demonstrated superior progression-free survival (PFS) in patients treated with Talazoparib. This is when compared to patients who received the standard chemotherapy as decided by physicians. The data further revealed that the PFS benefit was consistent across metastatic BRCA-positive patients, including those with hormone receptor-positive and triple negative disease.
The EMBRACA trials are originally being conducted by Pfizer and is the largest Phase-3 trial for a PARP inhibitor in patients with gBRCA+ MBC. Talazoparib is Pfizer's breast cancer candidate and is an investigation dual-mechanism poly ADP ribose polymerase (PARP) inhibitor. The Phase-3 trials confirmed that patients with germline (inherited) BRCA1/2-positive (gBRCA+) locally advanced and/or metastatic breast cancer (MBC) demonstrated superior progression-free survival (PFS) in patients treated with Pfizer's Talazoparib compared to patients who received physician's choice standard of care chemotherapy.
In October 2013, Myriad had initially collaborated with BioMarin Pharmaceutical Inc. for the development of a unique companion diagnostic test for Talazoparib and now is continuing the collaboration with Medivation Inc., a unit of Pfizer. Under the terms of the collaboration with Medivation, the Company now plans to submit a supplementary premarket approval (sPMA) application to the US Food and Drug Administration (FDA) so the existing premarket approval application (PMA) for BRACAnalysis CDx® can include Talazoparib.
Commenting on the positive results for BRACAnalysis CDx® tests, Mark C. Capone, President and CEO of Myriad Genetics, said:
"BRACAnalysis CDx is the only germline Companion diagnostic test approved by the FDA to identify patients with BRCA1/2 mutations, and we are excited to support Pfizer's clinical development program and help identify patients who are most likely to benefit from Talazoparib. As the pioneers in Companion diagnostics for PARP inhibitors, we are excited that more patients may benefit from these novel drugs in the future."
The Company disclosed that there are over 60,000 patients with metastatic breast cancer in the US and out of these nearly two-thirds patients are currently ineligible for BRCA testing when selection is done based on just family and personal history or current testing criteria.
About BRACAnalysis CDx® test
Myriad's BRACAnalysis CDx™ is a companion diagnostic test that uses a blood sample to identify germline mutations in the BRCA1 and BRCA2 genes. Results of the test are used as an aid in identifying ovarian cancer patients with deleterious or suspected deleterious germline BRCA variants, who are or may become eligible for treatment with Lynparza™ (olaparib). Detection of deleterious or suspected deleterious germline BRCA variants by the BRACAnalysis CDx test in ovarian cancer patients is also associated with enhanced progression-free survival (PFS) from Zejula™ (niraparib)maintenance therapy.
In October 2017, FDA had accepted Myriad's sPMA for BRACAnalysis CDx as a test to identify metastatic breast cancer patients who are most likely to respond to AstraZeneca's Lynparza (olaparib).
Currently, the BRACAnalysis CDx® tests are for strictly professional use and are performed at the Company's laboratory at Salt Lake City, Utah.
About Myriad Genetics, Inc.
Salt Lake City, Utah-based Myriad was founded in 1991 and is a leading molecular diagnostics and personalized medicine company. It offers various innovative products that transform patients' lives like leading molecular diagnostic tests for hereditary cancer, urological cancer, lung cancer, autoimmune disorders and other diseases. Myriad developed the first molecular diagnostic test for hereditary breast and ovarian cancer in 1996 - BRACAnalysis® test. This became an industry standard for determining a person's risk of developing these hereditary cancers. More than 1.5 million patients have already benefited from Myriad's hereditary cancer genetic testing.
Myriad is focused on three strategic imperatives: transitioning and expanding its hereditary cancer testing markets; diversifying its product portfolio through the introduction of new products; and increasing the revenue contribution from international markets.
Stock Performance Snapshot
December 13, 2017 - At Wednesday's closing bell, Myriad Genetics' stock climbed 2.12%, ending the trading session at $33.27.
Volume traded for the day: 678.88 thousand shares.
Stock performance in the last month – up 2.46%; previous three-month period – up 1.59%; past twelve-month period – up 85.55%; and year-to-date - up 99.58%
After yesterday's close, Myriad Genetics' market cap was at $2.31 billion.
Price to Earnings (P/E) ratio was at 22.42.
The stock is part of the Services sector, categorized under the Research Services industry. This sector was up 0.2% at the end of the session.
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