|December 30, 2013|
|07:27 EDT||MYGN||Myriad to address 'concerns' during CMS comment period|
Myriad Genetics disclosed that on December 27, the Centers for Medicare & Medicaid Services announced that it is providing an additional public comment period through January 27, 2014. "It is unclear why CMS has not valued the BRCA 2 gene in the 81211 code," the company stated. "It is also unclear how CMS arrived at the 81211 payment rate within the requirements of the federal gapfill regulations," it added. Myriad said it will be commenting during the new public comment period "to address a number of both substantive and process concerns." On September 30, the CMS posted a National Limit Amount of $2,795.09 for CPT code 81211, which covers a test for the full sequencing of the BRCA 1 and 2 genes and $1,449.01 for CPT code 81214, which covers a test for the full sequencing of only the BRCA 1 gene. On November 29, CMS posted an NLA of $1,438.14 for CPT code 81211 and the same amount for CPT code 81214. There is no payment rate for code 81216, which covers a test for the full sequencing of the BRCA 2 gene. The new payment rate for CPT codes 81211 and 81214 will be effective for tests performed on or after January 1, 2014. Shares of Myriad Genetics are down 10%, or $2.44, to $21.70 in pre-market trading.
News For MYGN From The Last 14 Days
Check below for free stories on MYGN the last two weeks.
|March 4, 2014|
|07:14 EDT||MYGN||NCCN updates guidelines for hereditary colon cancer testing |
Myriad Genetics is pleased to note that the National Comprehensive Cancer Network, or NCCN, has revised its medical guidelines to expand Lynch syndrome screening. Lynch syndrome is the most common cause of hereditary colon cancer in adults. Myriad believes the new guidelines will dramatically expand the number of patients eligible for hereditary colon cancer testing, especially among at-risk asymptomatic patients for whom screening has historically been limited based upon prior guidelines and a lack of insurance reimbursement. Some of the key aspects of the new guidelines include: A recommendation that all patients who meet a five percent or greater risk threshold for Lynch syndrome are appropriate for testing; a recommendation against sequential testing for the five Lynch syndrome genes in lieu of panel testing; an acknowledgement that patients with cancer can proceed directly to sequencing tests without a complicated tissue screening algorithm.
|March 3, 2014|
|07:19 EDT||MYGN||Myriad Genetics publishes clinical study for Prolaris |
Myriad Genetics announced that it has published data from the PROCEDE 500 study in the journal Current Medical Research and Opinion, demonstrating that 65% of physicians changed their original treatment plans for men with prostate cancer based on results from the Prolaris test. Prolaris is a 46-gene molecular diagnostic test that has been evaluated in 11 clinical studies with more than 5,000 patients.
|February 25, 2014|
|07:16 EDT||MYGN||Myriad Genetics firing on all cylinders, says Cantor|
After meeting with Myriad's management, Cantor thinks that the company could have significant opportunities from the diversification of its PROLARIS and Crescendo products in the near to medium term. The firm raised its price target on the stock to $42 from $39 and reiterates a Buy rating on the shares.
|February 24, 2014|
|09:37 EDT||MYGN||Myriad Genetics price target increased to $48 from $39 at Stephens|
Stephens said a recent meeting with Myriad Genetics' management makes the firm more bullish on the near-term and long-term prospects for the company. The firm raised its price target on the stock to $48 and reiterates its Overweight rating on the shares.
|February 21, 2014|
|13:41 EDT||MYGN||Myriad Genetics injunction update a modest positive, says Piper Jaffray|
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|13:39 EDT||MYGN||Myriad Genetics rises after court grants U. of Utah motion related to BRCA tests|
A court filing in a Utah district court revealed that a judge granted the University of Utah's motion for judicial notice in support of a motion for preliminary injuntive relief in a case against Ambry Genetics. Ambry, the defendant in the case, objected to the University of Utah's characterization that a CMS reduction demonstrated Myriad Genetics' (MYGN) irreparable harm. The suit relates to a Centers for Medicare and Medicaid Services notice of a reimbursement reduction from $2,700 to $1,438.14 for BRCA1 and BRCA2 tests, effective January 1, 2014. Shares of Myriad Genetics are up 2.7% to $37.26 in afternoon trading. Reference Link
|11:10 EDT||MYGN||Myriad Genetics volatility low on sharp rally |
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