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News Breaks
February 5, 2014
11:40 EDTMYGN, SQNM, TROV, GHDXMyriad 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 companyís 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: Myriadís competitors include Sequenom (SQNM), TrovaGene (TROV), and Genomic Health (GHDX).
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September 22, 2014
07:05 EDTSQNMSequenom presents new data supporting accuracy of MaterniT21 test
Sequenom announced that its wholly owned subsidiary, Sequenom Laboratories, presented patient clinical data substantiating the performance of its MaterniT21 PLUS noninvasive prenatal test in the laboratory. An ad hoc analysis of 185,000 samples from patients at high-risk for fetal chromosome aneuploidy demonstrated stable positivity rates for trisomy 21, 18 and 13, which mirror the positivity rates found in large studies on high-risk populations utilizing invasive diagnostic procedures. Additionally, Sequenom Laboratories reported performance results from clinical testing with the MaterniT21 PLUS test with Enhanced Sequencing Series. In the ad hoc analysis based on voluntary outcomes provided by clinicians, the estimated sensitivity for trisomy 21, 18 and 13 were 99.3%, 98.3% and 97.4% respectively, and the estimated specificity was >99.9% for all three trisomies. These clinical laboratory performance data are equivalent to those published in the clinical validation studies of the MaterniT21 test. Based on these performance metrics, Sequenom Laboratories estimates that the MaterniT21 PLUS test positive predictive value for trisomy 21, 18 and 13 were 99.0%, 97.6% and 92.8% respectively, and the negative predictive value was >99.9% for all three trisomies.
September 17, 2014
11:57 EDTSQNMSequenom management to meet with Maxim
Meetings to be held in New York on September 22 with a group luncheon also and in Boston on September 23 hosted by Maxim.
September 16, 2014
10:44 EDTSQNMSequenom lost Inter Partes Review to Ariosa, says Piper Jaffray
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