Myriad Genetics Announces Presentation of Lung Cancer Study at American Society for Clinical Oncology Annual Meeting
17 May 2012 - 8:05AM
Myriad Genetics, Inc. (Nasdaq:MYGN) announced today the
presentation of a study at the American Society of Clinical
Oncology® (ASCO) Annual Meeting, including the complete results
from a study titled, "Use of a proliferation-based mRNA signature
to predict outcome in early-stage non-small cell lung
adenocarcinoma." The abstract of the presentation (#7023) is
available on the ASCO Meeting website, www.asco.org.
Researchers at MD Anderson Cancer Center and Myriad Genetics
generated a cell cycle progression (CCP) score for 256 patients
with stage I and II lung adenocarcinoma by analyzing the level of
expression in 46 cell-cycle progression and housekeeping genes. The
study then assessed the prognostic value of the CCP score in
predicting patient outcomes as well as the correlation between the
CCP score and clinical variables including age, stage of disease,
gender, smoking status, tumor size and treatment.
The market need for a lung cancer prognostic test stems from the
absence of a molecular diagnostic test to accurately predict
disease aggressiveness for patients diagnosed with stage I or II
lung adenocarcinoma. Myriad's goal is to develop a prognostic lung
cancer test that helps patients understand the aggressiveness of
their disease.
About Myriad Genetics
Myriad Genetics, Inc. is a leading molecular diagnostic company
dedicated to making a difference in patients' lives through the
discovery and commercialization of transformative tests to assess a
person's risk of developing disease, guide treatment decisions and
assess risk of disease progression and recurrence. Myriad's
portfolio of nine molecular diagnostic tests are based on an
understanding of the role genes play in human disease and were
developed with a focus on improving an individual's decision making
process for monitoring and treating disease. With fiscal year 2011
annual revenue of over $400 million and more than 1,000 employees,
Myriad is working on strategic directives, including new product
introductions, companion diagnostics, and international expansion,
to take advantage of significant growth opportunities. For
more information on how Myriad is making a difference, please visit
the Company's website: www.myriad.com.
Myriad, the Myriad logo, BRACAnalysis, Colaris, Colaris AP,
Melaris, TheraGuide, Prezeon, OnDose, Panexia and Prolaris are
trademarks or registered trademarks of Myriad Genetics, Inc. in the
United States and foreign countries. MYGN-G
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's presentation
of a lung cancer study at the American Society for Clinical
Oncology Annual Meeting; the market needs for a lung cancer
prognostic test to help patients understand the aggressiveness of
their disease; the Company's goal and plans to develop a prognostic
lung cancer test; and the Company's strategic directives under the
caption "About Myriad Genetics". These "forward-looking statements"
are based on management's current 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 set
forth in or implied by forward-looking statements. These risks
and uncertainties include, but are not limited to: the risk that
sales and profit margins of our existing molecular diagnostic tests
and companion diagnostic services may decline or will not continue
to increase at historical rates; the risk that we may be unable to
expand into new markets outside of the United States; the risk that
we may be unable to develop or achieve commercial success for
additional molecular diagnostic tests and companion diagnostic
services in a timely manner, or at all; the risk that we may not
successfully develop new markets for our molecular diagnostic tests
and companion diagnostic services, including our ability to
successfully generate revenue outside the United States; the risk
that licenses to the technology underlying our molecular diagnostic
tests and companion diagnostic services and any future products are
terminated or cannot be maintained on satisfactory terms; risks
related to delays or other problems with manufacturing our products
or operating our laboratory testing facilities; risks related to
public concern over genetic testing in general or our tests in
particular; risks related to regulatory requirements or enforcement
in the United States and foreign countries and changes in the
structure of healthcare payment systems; risks related to our
ability to obtain new corporate collaborations and acquire new
technologies or businesses on satisfactory terms, if at all; risks
related to our ability to successfully integrate and derive
benefits from any technologies or businesses that we acquire; the
development of competing tests and services; the risk that we or
our licensors may be unable to protect the proprietary technologies
underlying our tests; the risk of patent-infringement and
invalidity claims or challenges of our patents; risks of new,
changing and competitive technologies and regulations in the United
States and internationally; and other factors discussed under the
heading "Risk Factors" contained in Item 1A in our most recent
Annual Report on Form 10-K filed with the Securities and Exchange
Commission, as well as any updates to those risk factors filed from
time to time in our Quarterly Reports on Form 10-Q or Current
Reports on Form 8-K. All information in this press release is as of
the date of the release, and Myriad undertakes no duty to update
this information unless required by law.
CONTACT: Rebecca Chambers
Director, Investor Relations and Corporate Communications
(801) 584-1143
rchambers@myriad.com
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