Myriad Genetics' MyRisk® Hereditary Cancer Test with RiskScore® was recognized as a significant advance in genomic medicine.
Quiver AI Summary
Myriad Genetics, Inc. announced that its MyRisk® Hereditary Cancer Test with RiskScore® was recognized in the American Journal of Human Genetics as one of the top 10 significant advances in genomic medicine. The study, which involved over 130,000 women, demonstrated that RiskScore, which combines a polygenic risk score with traditional risk factors, predicts breast cancer risk more accurately than the Tyrer-Cuzick model alone. Myriad's RiskScore shows double the predictive ability compared to Tyrer-Cuzick and emphasizes the company's commitment to health equity by providing multi-ancestry insights. This recognition is expected to foster greater adoption of RiskScore among healthcare providers. Myriad Genetics focuses on advancing health through genetic testing and aiding informed medical decisions.
Potential Positives
- MyRisk® Hereditary Cancer Test with RiskScore® study recognized as one of the top 10 significant advances in genomic medicine by the American Journal of Human Genetics.
- The study validated that RiskScore is a more accurate predictor of breast cancer risk compared to the traditional Tyrer-Cuzick model, enhancing the scientific credibility of Myriad's offerings.
- Myriad is acknowledged as one of the first commercial laboratories to market a multi-ancestry breast-cancer PRS, supporting its commitment to health equity and inclusive genetic insights.
- The advancements made by MyRisk with RiskScore can assist clinicians and patients in making informed medical management decisions, which may lead to improved patient outcomes in breast cancer prevention and detection.
Potential Negatives
- The press release contains forward-looking statements that highlight potential risks and uncertainties, which may create skepticism about the reliability of future projections regarding the adoption and effectiveness of MyRisk with RiskScore.
- There is an implied pressure for healthcare systems and providers to adopt RiskScore, which may lead to criticism or scrutiny if they do not, potentially affecting relationships with stakeholders.
- Despite the positive recognition, the press release does not address any limitations or past challenges faced by Myriad Genetics or the MyRisk test, which could raise concerns about transparency.
FAQ
What is MyRisk® Hereditary Cancer Test with RiskScore®?
MyRisk Hereditary Cancer Test with RiskScore assesses 48 genes for hereditary cancer risk and provides personalized breast cancer risk assessments.
Why was MyRisk® Hereditary Cancer Test recognized?
The test was recognized for its significant advances in genomic medicine and predictive accuracy in assessing breast cancer risk.
How does RiskScore improve breast cancer prediction?
RiskScore combines a polygenic risk score with the Tyrer-Cuzick model, demonstrating twice the predictive ability for breast cancer risk.
What does the study in the American Journal of Human Genetics entail?
The study validated MyRisk with RiskScore using data from over 130,000 women, proving its accuracy in predicting breast cancer risk.
How does Myriad Genetics contribute to health equity?
Myriad is committed to health equity by offering a multi-ancestry breast cancer PRS, making genetic insights more inclusive for all patients.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$MYGN Insider Trading Activity
$MYGN insiders have traded $MYGN stock on the open market 7 times in the past 6 months. Of those trades, 0 have been purchases and 7 have been sales.
Here’s a breakdown of recent trading of $MYGN stock by insiders over the last 6 months:
- PAUL J DIAZ (President and CEO) has traded it 2 times. They made 0 purchases and 2 sales, selling 30,000 shares.
- DALE MUZZEY (Chief Scientific Officer) sold 2,100 shares.
- HEINRICH DREISMANN sold 10,000 shares.
- COLLEEN F REITAN sold 46,012 shares.
- MARGARET ANCONA (SVP, Chief of Staff) sold 11,538 shares.
- RASHMI KUMAR sold 7,500 shares.
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$MYGN Hedge Fund Activity
We have seen 131 institutional investors add shares of $MYGN stock to their portfolio, and 107 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- GLENVIEW CAPITAL MANAGEMENT, LLC removed 2,486,902 shares (-66.3%) from their portfolio in Q3 2024
- CITADEL ADVISORS LLC removed 1,695,989 shares (-96.1%) from their portfolio in Q3 2024
- CAMBER CAPITAL MANAGEMENT LP removed 1,550,000 shares (-28.2%) from their portfolio in Q3 2024
- WELLINGTON MANAGEMENT GROUP LLP removed 1,545,842 shares (-18.7%) from their portfolio in Q3 2024
- LOOMIS SAYLES & CO L P added 1,326,497 shares (+153.7%) to their portfolio in Q3 2024
- MILLENNIUM MANAGEMENT LLC added 777,499 shares (+17.7%) to their portfolio in Q3 2024
- MORGAN STANLEY removed 491,650 shares (-35.8%) from their portfolio in Q3 2024
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Full Release
SALT LAKE CITY, Dec. 19, 2024 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc . (NASDAQ: MYGN), a leader in genetic and genomic testing and precision medicine, announced that a MyRisk ® Hereditary Cancer Test with RiskScore ® study has been named in the American Journal of Human Genetics as one of its top 10 significant advances in genomic medicine . The study was selected by the Genomic Medicine Working Group at the National Human Genome Research Institute .
The study by Mabey et al., “Validation of a clinical breast cancer risk assessment tool combining a polygenic score for all ancestries with traditional risk factors,” presented a longitudinal clinical validation of MyRisk with RiskScore using data from more than 130,000 women referred for hereditary cancer genetic testing.
RiskScore integrates a polygenic risk score (PRS) for all ancestries with the widely used Tyrer-Cuzick model. The study demonstrated that Myriad’s PRS is a more accurate predictor of breast cancer risk than Tyrer-Cuzick alone. In fact, RiskScore delivered two times the ability to predict breast cancer risk than the Tyrer-Cuzick model. Additionally, Myriad was one of the first commercial laboratories to market with a multi-ancestry breast-cancer PRS, driven by its mission to advance health equity and deliver more inclusive genetic insights.
“We are honored by this recognition, which underscores the clinical significance of the validation research from the study and predictive accuracy of RiskScore,” said Dale Muzzey, PhD, Chief Scientific Officer at Myriad Genetics. "MyRisk with RiskScore can assist both clinicians and patients in making informed, proactive medical management decisions to help prevent breast cancer or detect it early. The accuracy of RiskScore across all ancestries emphasizes Myriad’s commitment and contribution to health equity.”
"We hope that the selection of our paper as a major advance will continue to drive the adoption of RiskScore by providers and guideline societies," continued Muzzey.
About MyRisk
®
Hereditary Cancer Test with RiskScore
®
MyRisk Hereditary Cancer Test with RiskScore
evaluates 48 genes associated with hereditary cancer risk to identify genetic changes associated with an increased cancer risk for 11 different cancers. When combined with family history and other clinical factors such as breast density, MyRisk with RiskScore provides eligible patients with a five-year and remaining lifetime breast cancer risk assessment individualized to them.
About Myriad Genetics
Myriad Genetics is a leading genetic testing and precision medicine company dedicated to advancing health and well-being for all. Myriad develops and offers genetic tests that help assess the risk of developing disease or disease progression and guide treatment decisions across medical specialties where genetic insights can significantly improve patient care and lower healthcare costs. For more information, visit
www.myriad.com
.
Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including that MyRisk with RiskScore being featured as a top innovation in genomic medicine reinforces the need for more wide-scale clinical implementation of MyRisk with RiskScore, as this data is likely to have implications for healthcare systems and practice guidelines, and MyRisk with RiskScore can assist both clinicians and patients in making informed, proactive medical management decisions to help prevent breast cancer or detect it early. These “forward-looking statements” are management’s expectations of future events as of the date hereof and are subject to known and unknown risks and uncertainties that could cause actual results, conditions, and events to differ materially and adversely from those anticipated. Such factors include those risks described in the company’s filings with the U.S. Securities and Exchange Commission, including the company’s Annual Report on Form 10-K filed on February 28, 2024, as well as any updates to those risk factors filed from time to time in the company’s Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. Myriad is not under any obligation, and it expressly disclaims any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise except as required by law.
Investor Contact
Matt Scalo
(801) 584-3532
[email protected]
Media Contact
Glenn Farrell
(385) 318-3718
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