Myriad Genetics’ (MYGN) New Platform to Improve Cancer Care

Myriad Genetics, Inc. MYGN recently launched the Myriad Collaborative Research Registry (MCRR) a comprehensive pan-cancer research platform to improve patient care. Formerly known as the Precise Treatment Registry, the MCRR includes new data on the entire germline and tumor test results from the company’s cancer products on more than one million patients.

With the latest enhancements, the MCRR is currently one of the largest pan-cancer registries freely available for research. It also supports transparent sharing of clinical data to advance the field.

The importance of MCRR

MCRR is built on Precision Health’s leading enterprise platform, DNAnexus and provides a secure and easy-to-use interface for scientific data analysis, collaboration and discovery. Approved by the Institutional Review Board, the registry expands access to Myriad Genetics’ extensive repository of linked genomic and clinical data for researchers to discover deeper insights and accelerate the pace of precision cancer research to disease is more preventable, detectable and treatable.

Zacks Investment Research

Image Source: Zacks Investment Research

The MCRR currently contains de-identified research data on a broad list of cancer indications and includes genomic test data related to family history, ethnicity and clinical characteristics. This multi-omic resource integrates a variety of molecular information, including germline variants, RNA-based gene expression classifiers, homologous recombination deficiency assessment, tumor variants, microsatellite instability, tumor mutation burden and PD-L1 status, simultaneously. which provides a holistic view for advanced insights.

The registry will continue to expand over time, incorporating patient outcomes, treatment responses and additional tools to improve the types of research that can be done.

More in the News

The size and scope of MCRR underscores Myriad Genetics’ continued commitment to becoming a partner in the overall health data ecosystem. Building on its open data sharing efforts, the registry shares real-world data in a secure and interactive cohort browser.

According to a spokesperson for MYGNs, the purpose of the registry is to improve the understanding of cancer by getting this extensive data into the hands of interested researchers, enabling them to easily access and analyze the data, run their own questions and test hypotheses to improve patient care. .

Industry Prospects

Per a report by Precedence Research, the global cancer therapeutics market will be valued at $164 billion in 2022 and is expected to witness a CAGR of 9.2% through 2032.

Other Notable Developments

The company offers genetic tests that help to evaluate the possibility of the development of diseases or their development and guide the treatment decisions of medical specialists, aiming to improve the care of patient and lowering the cost of health care. One of its main areas of focus is the field of Oncology, where the company has specialized products, capabilities and expertise.

Earlier in October 2023, MYGN and the renowned Sample to Insight solutions provider QIAGEN announced a master collaboration agreement to develop joint diagnostic tests in the field of cancer. The alliance between QIAGEN and Myriad Genetics combines the individual strengths of each partner. The partnership aims to deliver innovative services and products to pharmaceutical companies, enabling the development and commercialization of proprietary cancer tests for the US clinical market and providing a distributed partner that diagnostic test kits for the global market.

Price Performance

Over the past six months, Myriad Genetics shares have declined 11.9% compared to the industry’s decline of 9%.

Zacks Rank and Top Picks

Myriad Genetics currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader medical space are Haemonetics hey, Insult PODD and DexCom DXCM. Haemonetics and DexCom each currently have a Zacks Rank #2 (Buy), and Insulet sports a Zacks Rank #1 (Strong Buy). You will see the complete list of current Zacks #1 ranked stocks here.

Haemonetics stock is up 8.2% over the past year. Earnings estimates for Haemonetics have increased from $3.86 to $3.89 in 2023 and $4.11 to $4.15 in 2024 over the past 30 days.

HAE’s earnings beat estimates in each of the following four quarters, delivering an average surprise of 16.1%. In the last reported quarter, it posted an earnings surprise of 5.3%.

Estimates for Insulets 2023 earnings per share increased from $1.90 to $1.91 in the last 30 days. The company’s shares fell 30.1% last year compared to the industry’s decline of 1.6%.

PODD’s earnings beat estimates in each of the following four quarters, the average surprise being 105.1%. In the last reported quarter, it delivered an average earnings surprise of 77.4%.

Estimates for DexComs 2023 earnings per share increased from $1.43 to $1.44 in the last 30 days. The company’s shares rose 2.7% last year compared to industry growth of 4.1%.

DXCM’s earnings beat estimates in each of the following four quarters, the average surprise being 36.4%. In the last reported quarter, it delivered an average earnings surprise of 47.1%.

Want the latest recommendations from Zacks Investment Research? Now, you can download the 7 Best Stocks for the Next 30 Days. Click to get this free report

Haemonetics Corporation (HAE): Free Stock Analysis Report

Myriad Genetics, Inc. (MYGN): Free Stock Analysis Report

DexCom, Inc. (DXCM): Free Stock Analysis Report

Insulet Corporation (PODD) : Free Stock Analysis Report

To read this Zacks.com article click here.

Zacks Investment Research

#Myriad #Genetics #MYGN #Platform #Improve #Cancer #Care
Image Source : finance.yahoo.com

Leave a Comment