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Stock Market & Financial Investment News

News Breaks
February 5, 2014
11:40 EDTSQNM, GHDX, MYGN, TROVMyriad Genetics rallies after buying rival, increasing 2014 outlook
Shares of molecular diagnostic company Myriad Genetics (MYGN) are climbing after the company reported second quarter results that beat consensus expectations, raised its fiscal 2014 outlook, and announced an acquisition. WHAT'S NEW: Last night, Myriad Genetics reported second quarter earnings per share of 66c and revenue of $204.1M, easily topping analysts' consensus expectations of 46c and $176.02M, respectively. The company raised its FY14 EPS view to $2.09-$2.14 from $1.92-$1.97, and boosted its FY14 revenue outlook to $740M-$750M from $700M-$715M. FY14 consensus estimates were $1.97 and $705.62M prior to the company's announcement. In addition, the company said it has a definitive agreement to acquire rival Crescendo Bioscience for $270M in cash. ANALYST REACTION: This morning, analyst commentary was mixed. Research firm JMP Securities upgraded Myriad Genetics to Market Perform from Underperform citing the company’s stronger than expected results. Conversely, Ladenburg downgraded Myriad to Neutral from Buy, citing valuation. PRICE ACTION: In late morning trading, Myriad rose $2.72, or 10%, to $29.90 on more than twice its average daily trading volume. The stock is up about 10% over the past twelve months. OTHERS TO WATCH: Myriad’s competitors include Sequenom (SQNM), TrovaGene (TROV), and Genomic Health (GHDX).
News For MYGN;SQNM;TROV;GHDX From The Last 14 Days
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May 22, 2015
10:35 EDTSQNMSequenom genetic test false positive highlighted in NBC Nightly News report
Recent studies have "cast doubt" on the reliability of pre-natal genetic tests such as Sequenom's MaterniT21 test, according to a report aired by NBC Nightly News. Reference Link
May 21, 2015
08:16 EDTGHDXGenomic Health's Oncotype prostate cancer test issued draft LCD determination
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May 20, 2015
08:08 EDTGHDXGenomic Health's Oncotype prostate cancer risk test shows positive results
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May 18, 2015
08:05 EDTGHDXGenomic Health announces results from study on methods to detect bladder cancer
Genomic Health announced positive results from a second, larger liquid biopsy feasibility study demonstrating the Company's ability to detect tumor-specific DNA in urine, which is expected to enable bladder cancer recurrence monitoring. It is estimated that early-stage bladder cancer recurs in only 10 to 15 percent of patients in the first year, and in more than half of patients over time. However, approximately one-third of all cystoscopies – a procedure using a thin instrument equipped with a camera and light to look at the inside of the bladder – generate false positive results. Genomic Health and its collaborators used the Company's next-generation sequencing and polymerase chain reaction based platforms and refined methodology to target tumor-specific differential DNA methylation and single nucleotide variations. In the study, researchers identified tumor-specific DNA markers in 94 percent of tissue samples and found a strong association between the same markers in urine. These findings are expected to enable accurate monitoring for cancer recurrence in the urine of early-stage bladder cancer patients.
May 15, 2015
11:02 EDTGHDXGenomic Health says Oncotype DX shown to lower overall healthcare costs
Genomic Health announced results from three studies that show the real-world positive impact of the Oncotype DX Genomic Prostate Score and the test's value in managing healthcare costs associated with treatment decisions in low-risk patients. An analysis of the performance of the Oncotype DX GPS in the first 4,000 men tested showed that the test refined patient risk for one in four men across all groups of patients, the company said. In a separate study, researchers analyzed the clinical and economic implications of adding GPS to risk assessment compared to clinical and pathological assessment alone in the management of clinically low-risk prostate cancer. Results showed incorporating GPS into prostate cancer management resulted in a cost reduction of approximately $2,000 per patient in the first three years after diagnosis.
10:28 EDTMYGNMAC updates positive for NanoString, Myriad, Invitae, QIAGEN, says Leerink
Leerink said that coverage updates posted yesterday by Medicare Administrative Contractors were favorable for NanoString (NSTG), Myriad Genetics (MYGN), Invitae (NVTA) and QIAGEN (QGEN). The firm has Outperform ratings on NanoString and Invitae and Market Perform rating on the other two stocks listed.
08:31 EDTGHDXGenomic Health announces results from studies of Oncotype DX GPS
Genomic Health announced results from three studies that show the real-world positive impact of the Oncotype DX Genomic Prostate Score and the test's value in managing healthcare costs associated with treatment decisions in low-risk patients. An analysis of the performance of the Oncotype DX GPS in the first 4,000 men tested showed that the test refined patient risk for one in four men across all groups of patients. In a separate study, researchers analyzed Oncotype DX test results from 200 U.S. prostate cancer patients to see how the change in their treatment decision based on the GPS results affected the cost of their treatment. Results showed that immediate treatment costs declined by more than $5,700 per patient. This reduction in costs was associated with increased use of active surveillance from 44 percent to 70 percent of the time. These results indicate that incorporating GPS into treatment decisions can reduce overall healthcare costs within five years. Genomic Health researchers analyzed data compiled from four different Oncotype DX prostate cancer test studies involving 138 African-American patients. Results of this analysis showed that the tumor biology measured by the Oncotype DX GPS was similar between African-American and Caucasian men, reinforcing findings from the second validation study conducted in collaboration with the Uniformed Services University of the Health Sciences' Center for Prostate Disease Research.
07:09 EDTMYGNMyriad Genetics presents clinical data for Prolaris test
Myriad Genetics presented clinical data for its Prolaris test at the 2015 American Urological Association, or AUA, Annual Meeting being held May 15-19 in New Orleans, La. The results highlighted and underscored the significant ability of the Prolaris test to help physicians improve care for men diagnosed with prostate cancer. In this pioneering study, Myriad presented important new clinical validation data that establishes an active surveillance, or AS, threshold for men with localized prostate cancer. Specifically, the AS threshold is a composite of the Prolaris test score and clinicopathologic features. In the validation data featured at AUA, the pre-defined AS threshold was evaluated in 765 conservatively managed men, and the clinical endpoint was 10-year risk of prostate cancer mortality. The results showed that at the AS threshold, the predicted 10-year survival rate of prostate cancer patients was 97%. Conversely, there was a three percent risk of 10-year, prostate-specific mortality. Importantly, however, there were no observed prostate cancer-specific deaths over 10 years among men whose scores fell below the AS threshold. Additionally, a separate analysis of 4,218 patients was performed to determine what percentage of patients who were clinically tested with Prolaris would be candidates for active surveillance based on the validated AS threshold. Of this commercial cohort, 36% qualified for active surveillance based on their clinical features alone. However, when the Prolaris test was added to the clinical risk assessment, 60% of these patients fell below the AS threshold, representing a significant increase in the total number of candidates who may be eligible for active surveillance.
May 14, 2015
11:06 EDTTROVTrovagene management to meet with Maxim
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May 13, 2015
18:47 EDTMYGNMyriad Genetics to present data from 19 studies at 2015 ASCO meeting
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17:24 EDTTROVTrovagene to present data on liquid biopsy platform at 2015 ASCO meeting
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May 11, 2015
18:29 EDTMYGN, GHDXAffordable Care Act guidance says insurers must cover BRCA1, BRCA2 testing
The United States Department of Labor issued updated Affordable Care Act guidance, which mandates that health insurers must cover testing for breast and ovarian cancer through analysis of the BRCA1 and BRCA2 genes. Myriad (MYGN), Foundation Medicine (FMI), and Genomic Health (GHDX) compete in the genetic testing space. Reference Link

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