Molecular diagnostics provider Myriad Genetics, Inc. (MYGN) has unveiled new study data revealing the potential of the company's myRisk Hereditary Cancer test in identifying 105% more mutations in cancer generating genes as against standard BRCA testing. This study results were presented at the ongoing 2014 San Antonio Breast Cancer Symposium (:SABCS).
At the Symposium, Myriad also presented two other study results. The first one demonstrated the ability of Myriad's myChoice Homologous Recombination Deficiency (:HRD) test in predicting more accurately the response to platinum-based therapy in patients who are in the early stage of triple negative breast cancer (:TNBC).
In this study, it was demonstrated that 52% of patients with deficient HRD status, responded to platinum-based treatment as against only 10% patients with intact HRD status. Management believes that myChoice HRD helps physicians in choosing the best chemotherapy for TNBC patients before they are operated.
In the third study result, Myriad revealed the ability of its BRACAnalysis molecular diagnostic test in significant prediction of metastatic TNBC patients' response to platinum-based drugs.
During this clinical trial, with the help of BRACAnalysis test, 68% of metastatic TNBC patients with a germline BRCA mutation showed an objective response to platinum-based drug treatment, while only 33% responded to a non-platinum-based chemotherapeutic drug.
Metastatic TNBC treatment is difficult and these study results will be a boon for the physicians who find it hard to select the appropriate test to confirm whether a TNBC patient will respond to a platinum-based drug or not.
Currently, Myriad is engaged in several research alliances with pharmaceutical companies to evaluate both BRACAnalysis and myChoice HRD as a companion diagnostic test for PARP inhibitors and in other types of cancer as well. Once this is done, demand for these tests is expected to increase.
Currently, Myriad has a Zacks Rank #3 (Hold). Some well-placed stocks worth reckoning in the med-biomed/generic industry are Affymetrix Inc. (AFFX), Biogen Idec Inc. (BIIB) and ANI Pharmaceuticals, Inc. (ANIP). All the three stocks sport a Zacks Rank #1 (Strong Buy).