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Stock Market & Financial Investment News

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).
News For MYGN;SQNM;TROV;GHDX From The Last 14 Days
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October 30, 2014
07:15 EDTMYGNASCO / ASTRO / IASLC to hold symposium
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October 27, 2014
08:14 EDTTROVPeer-reviewed journal features Trovagene's cancer monitoring technology
Trovagene announced the publication of clinical study results in a peer-reviewed journal, Cancer Discovery, featuring the Company's precision cancer monitoring technology and its ability to non-invasively determine oncogene mutation status and monitor response to BRAF inhibitor therapy in patients with histiocytic disease, a malignancy often associated with BRAF mutations. Clinical results will be presented at the 30th Annual Histiocyte Society Meeting on October 28 in Toronto, Canada.
07:14 EDTMYGNMyriad Genetics announces inclusion of Prolaris test on NCCN Guidelines
Myriad Genetics announced that its Prolaris test has been included in the National Comprehensive Cancer Network Clinical Practice Guidelines in Oncology, or NCCN Guidelines, for all men with localized prostate cancer, regardless of their risk category. The NCCN guidelines provide treatment recommendations to ensure that patients receive diagnostic treatment and services that are likely to improve clinical outcomes. Specifically, the updated NCCN guidelines include the use of the Prolaris test to help patients better assess their risk of disease specific mortality and biochemical recurrence. Importantly, Prolaris is supported by seven peer-reviewed publications and is the first and only genetic test for prostate cancer that is: Proven and validated based on gold standard clinical endpoints of disease recurrence and prostate cancer-specific death in untreated men, thus identifying men who can safely forgo initial surgery or radiation and be managed with active surveillance; Proven in clinical utility studies to change treatment recommendations for up to 65% of prostate cancer patients in all risk categories, which may enhance adherence to recommended treatments; and to receive a draft local coverage determination, or LCD, for Medicare reimbursement for low-risk patients.
October 24, 2014
09:05 EDTMYGNMyriad Genetics establishes tumor BRACAnalysis CDx lab in Europe
Myriad Genetics, announced it has established a Tumor BRACAnalysis CDx laboratory in Europe. Myriad's next-generation Tumor BRACAnalysis CDx test is a companion diagnostic that will identify up to 50% more patients with BRAC mutations who may benefit from treatment with PARP inhibitors, such as olaparib, compared to conventional germline testing alone. Olaparib is a novel PARP inhibitor being developed by AstraZeneca. Earlier today, the European Medicines Agency's, or EMA, Committee for Medicinal Products for Human Use, or CHMP, recommended marketing authorization for olaparib as monotherapy for the maintenance treatment of adult patients with platinum-sensitive relapsed BRCA-mutated, or germline and/or somatic, high grade serous epithelial ovarian, fallopian tube or primary peritoneal cancer who are in response to platinum-based chemotherapy. It is estimated that more than 22% of all ovarian cancer patients carry a deleterious germline or somatic mutation in the BRCA1 or BRCA2 genes and may benefit from olaparib therapy.

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