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Stock Market & Financial Investment News

News Breaks
February 5, 2014
11:40 EDTTROV, SQNM, GHDX, MYGNMyriad 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).
News For MYGN;SQNM;TROV;GHDX From The Last 14 Days
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January 26, 2015
07:17 EDTMYGNSociety of Thoracic Surgeons to hold annual meeting
51st Annual Meeting of STS is being held in San Diego, California on January 24-28.
January 23, 2015
15:46 EDTMYGN, GHDX, SQNMPiper Jaffray's medtech analysts hold an analyst/industry conference call
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January 22, 2015
07:04 EDTSQNMSequenom and Cypher Genomics sign prenatal test development agreement
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January 21, 2015
05:16 EDTTROVTrovagene expands collaboration with Genomac
Trovagene announced it will expand the clinical collaboration with Genomac Research Institute in Prague, Czech Republic. Trovagene Precision Cancer Monitoring SM technology will be used in two prospective clinical studies for the early detection of emerging oncogene mutations indicative of resistance to targeted therapies used to treat colorectal and lung cancer. Prospective multi-center studies will involve leading clinical and surgical oncology centers in the Czech Republic. The first study focusing on lung cancer will enroll up to 300 patients, while the second study will enroll up to 500 patients with Stage III-IV colorectal cancer. Colorectal and lung cancer are the two most commonly occurring solid cancers in the Czech Republic.
January 20, 2015
13:45 EDTSQNMIllumina rises as genomics project seen being announced in State of the Union
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08:18 EDTTROVTrovagene says study results support utility of cancer monitoring platform
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07:07 EDTMYGNMyriad RBM joins Institut Pasteur in TB collaboration
Myriad RBM, a wholly owned subsidiary of Myriad Genetics, announced that it will assist the Institut Pasteur in a public-private research collaboration to fight the global tuberculosis, or TB, epidemic. This research project is funded by the Bill & Melinda Gates Foundation through a grant to the Institut Pasteur. The proof-of-concept study will evaluate patients with latent and active TB infections who are affiliated with the South African Tuberculosis Vaccine Initiative clinical study sites. The goals of this study are to field-test Myriad RBM's TruCulture system as a point-of-care blood collection and immune response monitoring method and to stratify patients with active and latent tuberculosis.
January 15, 2015
07:59 EDTTROV, GHDX, MYGNAmerican Society of Clinical Oncology to hold a symposium
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January 12, 2015
15:40 EDTSQNMSequenom Q4 preliminary results disappointing, says Piper Jaffray
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15:27 EDTSQNMSequenom sees FY15 accessioned tests above 200K
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15:25 EDTSQNMSequenom sees Q4 revenue $37M, consensus $44.6M
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15:21 EDTSQNMSequenom sees FY14 revenue $151M, consensus $160.7M
Sequenom reported FY14 preliminary revenue of $151M earlier in slides for its upcoming presentation at the JP Morgan Healthcare Conference. The company said in the slides that it had reduced its cash burn from $107M in FY13 to $37M in FY14 and ended FY14 with approximately $94M in cash. The company reported FY14 NIPT accessioned tests of 162. Sequenom shares are down 1% in afternoon trading after this morning's disclosure of the conference slides.
08:35 EDTTROVTrovagene announces clinical collaboratoin with UC San Diego
Trovagene announced that it has entered into a clinical collaboration with University of California, San Diego Moores Cancer Center to determine the utility of detecting and monitoring EGFR mutations, using its Precision Cancer MonitoringSM platform. This large-scale study expands on the company's clinical programs in lung cancer at Memorial Sloan Kettering Cancer Center and City of Hope Medical Center.
07:17 EDTMYGNJPMorgan to hold a conference
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