Myriad Genetics Highlights Strong Commitment to Preventing and Fighting Breast Cancer as Part of Breast Cancer Awareness Mont...
02 October 2017 - 10:05PM
Myriad Genetics, Inc. (NASDAQ:MYGN), a leader in molecular
diagnostics and personalized medicine, continues to demonstrate an
unmatched commitment to hereditary cancer risk assessment and
genetic testing during Breast Cancer Awareness Month. As the
second leading form of cancer in the United States, breast cancer
kills one woman every 13 minutes, with more than 250,000 new cases
of breast cancer expected to be diagnosed this year
alone.
“Myriad has been actively contributing to the fight against
breast cancer since 1991. We have been at the forefront of a
change in hereditary cancer risk assessment and witnessed
remarkable progress in the last 25 years. More than ever
before, our hereditary cancer risk assessment and genetic tests
deliver critical answers, providing women with more power and
control over their future,” said Johnathan Lancaster, M.D., Ph.D.,
chief medical officer, Myriad Genetics. "Conquering a
devastating illness like breast cancer will require even more
effort. Myriad will accomplish this through pioneering
innovation, research collaborations and investment. We’re
optimistic that we will make an even bigger difference for women in
the years ahead.”
Our Portfolio of Leading Breast Cancer Tests
Myriad’s portfolio of personalized medicine tools to help doctors
prevent and treat breast cancer include: myRisk® Hereditary Cancer,
riskScore™, and EndoPredict®. Additionally, the Company is
advancing its companion diagnostics such as BRACAnalysis CDx® and
myChoice® HRD for patients with breast cancer through ongoing
research collaborations with multiple pharmaceutical companies.
Following is an overview of Myriad’s portfolio of personalized
medicine tests for breast cancer:
- myRisk® Hereditary Cancer is a 28-gene panel
and helps doctors understand an unaffected woman’s risk of
developing hereditary breast cancer using genetic testing and
family history. In contrast, for women already diagnosed with
breast cancer, the myRisk test can help identify their risk of
secondary cancers, help inform medical management, and may help
prevent cancer in unaffected family members who inherited a
cancer-causing mutation.People can find out if they’re candidates
for myRisk Hereditary Cancer by going to
HereditaryCancerQuiz.com. The quiz is a
brief online questionnaire that helps people determine whether they
should be further evaluated for hereditary breast cancer and other
types of cancer. On average, the quiz takes less than 1 minute to
complete.
- riskScore™ is the newest addition to Myriad’s
breast cancer portfolio and is available for certain patients who
receive a negative myRisk Hereditary Cancer test result.
riskScore combines genetic markers throughout the human genome with
a woman’s family and clinical history to predict her 5-year and
lifetime risk of developing breast cancer.
- EndoPredict® is a test that combines genetic
and clinical data to identify women with low-risk breast cancer who
can safely forego chemotherapy after surgery and help maintain
their quality of life.
Myriad is known for pioneering scientific breakthroughs and
exceptional science. We bring that same spirit to our partnerships
with pharmaceutical companies to develop companion diagnostic
tests. These personalized medicine tests will help identify
patients who are likely to benefit from certain medicines.
Our companion diagnostic tests include:
- BRACAnalysis CDx is a companion diagnostic
test that detects germline BRCA1 and BRCA2 mutations and helps
indicate whether or not patients with cancer who may preferentially
benefit from the PARP inhibitor class of drugs. Most
recently, BRACAnalysis CDx was used to successfully identify
patients with metastatic breast cancer that responded to PARP
inhibitors and will be submitted to the FDA as a companion
diagnostic for use in these patients.
- MyChoice HRD is a test that assesses a
cancer’s inability to repair DNA damage. The results will help
doctors identify more patients who may preferentially benefit from
DNA-damaging medicines and PARP inhibitors. myChoice HRD is
being studied in ongoing clinical trials for breast cancer.
If you are interested in learning more about Myriad’s commitment
to breast cancer, talk to your healthcare professional and visit
www.myriad.com to learn more about myRisk Hereditary Cancer,
riskScore, EndoPredict, BRACAnalysis CDx and myChoice HRD.
Our Commitment to Patient Advocacy and Access
Myriad is committed to advocating for the discovery and delivery of
personalized medicine for patients with breast cancer. The
company has a long track record of partnering with advocacy
organizations that promote awareness and research on breast cancer
and many other diseases. Additionally, we believe access to
genetic testing is an essential component of personalized medicine
and can help patients live longer, healthier lives, while saving
the healthcare system money.
Patients can access our genetic tests a number of ways,
including through health insurance coverage from an
employer-sponsored health plan, a health insurance exchange plan or
a program like Medicare or Medicaid. Myriad also offers
financial assistance programs for those who may have trouble
accessing tests or lack coverage. The Company has provided
more than $76 million in financial assistance to patients over the
past five fiscal years (Table 1).
Table 1: Myriad Financial Assistance
Contributions
FY2017 |
FY2016 |
FY2015 |
FY2014 |
FY2013 |
$ |
20,946,808 |
$ |
17,800,000 |
$ |
14,300,000 |
$ |
13,300,000 |
$ |
10,400,000 |
Learn more about access to our tests with insurance coverage as
well as the financial assistance program at
https://myriadpromise.com/.
About Myriad GeneticsMyriad Genetics Inc., is a
leading personalized medicine company dedicated to being a trusted
advisor transforming patient lives worldwide with pioneering
molecular diagnostics. Myriad discovers and commercializes
molecular diagnostic tests that: determine the risk of developing
disease, accurately diagnose disease, assess the risk of disease
progression, and guide treatment decisions across six major medical
specialties where molecular diagnostics can significantly improve
patient care and lower healthcare costs. Myriad is focused on
three strategic imperatives: maintaining leadership in an
expanding hereditary cancer market, diversifying its product
portfolio through the introduction of new products and increasing
the revenue contribution from international markets. For more
information on how Myriad is making a difference, please visit the
Company's website: www.myriad.com.
Myriad, the Myriad logo, BART, BRACAnalysis, Colaris, Colaris
AP, EndoPredict, myPath, myRisk, Myriad myRisk, myRisk Hereditary
Cancer, myChoice, myPlan, BRACAnalysis CDx, Tumor BRACAnalysis CDx,
myChoice HRD, Vectra DA, GeneSight, EndoPredict and Prolaris are
trademarks or registered trademarks of Myriad Genetics, Inc. or its
wholly owned subsidiaries in the United States and foreign
countries. MYGN-F, MYGN-G
Safe Harbor StatementThis press release
contains “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995, including
statements relating to related to Myriad’s continued and
demonstrated commitment to hereditary cancer risk assessment and
genetic testing during Breast Cancer Awareness Month; Myriad’s
ability and efforts to conquering a devastating illness like breast
cancer; the advancement of Myriad’s companion diagnostics such as
BRACAnalysis CDx® and myChoice® HRD for patients with breast cancer
through ongoing research collaborations with multiple
pharmaceutical companies; the overview of Myriad’s portfolio of
personalized medicine tests for breast cancer: 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 described or implied in
the forward-looking statements. These risks include, but are not
limited to: the risk that sales and profit margins of our existing
molecular diagnostic tests and pharmaceutical and clinical services
may decline or will not continue to increase at historical rates;
risks related to our ability to transition from our existing
product portfolio to our new tests; risks related to changes in the
governmental or private insurers’ reimbursement levels for our
tests or our ability to obtain reimbursement for our new tests at
comparable levels to our existing tests; risks related to increased
competition and the development of new competing tests and
services; the risk that we may be unable to develop or achieve
commercial success for additional molecular diagnostic tests and
pharmaceutical and clinical services in a timely manner, or at all;
the risk that we may not successfully develop new markets for our
molecular diagnostic tests and pharmaceutical and clinical
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 pharmaceutical and
clinical services tests and any future tests are terminated or
cannot be maintained on satisfactory terms; risks related to delays
or other problems with 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 the healthcare system or healthcare
payment systems; risks related to our ability to obtain new
corporate collaborations or licenses 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 license or acquire, including
but not limited to our acquisition of Assurex, Sividon and the
Clinic; risks related to our projections about the potential market
opportunity for our products; the risk that we or our licensors may
be unable to protect or that third parties will infringe the
proprietary technologies underlying our tests; the risk of
patent-infringement claims or challenges to the validity of our
patents; risks related to changes in intellectual property laws
covering our molecular diagnostic tests and pharmaceutical and
clinical services and patents or enforcement in the United States
and foreign countries, such as the Supreme Court decision in the
lawsuit brought against us by the Association for Molecular
Pathology et al; risks of new, changing and competitive
technologies and regulations in the United States and
internationally; the risk that we may be unable to comply with
financial operating covenants under our credit or lending
agreements; the risk that we will be unable to pay, when due,
amounts due under our credit or lending agreements; and other
factors discussed under the heading “Risk Factors” contained in
Item 1A of our most recent Annual Report on Form 10-K, which has
been 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.
Media Contact: Ron Rogers(801)
584-3065rrogers@myriad.com
Investor Contact: Scott Gleason(801)
584-1143sgleason@myriad.com
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