Myriad Genetics' Prequel® Prenatal Screen now offers genetic testing at eight weeks of pregnancy, enhancing early decision-making for expectant parents.
Quiver AI Summary
Myriad Genetics, Inc. has announced the availability of its Prequel® Prenatal Screen at just eight weeks into pregnancy, making it the first prenatal cell-free DNA (cfDNA) screen to be offered this early. The new capability, enabled by the company’s AMPLIFY™ technology, aims to enhance the amount of detectable fetal DNA, allowing healthcare providers and patients to obtain important genetic insights sooner, potentially influencing decisions around diagnostic testing, specialist care, and delivery planning. Dr. Dallas Reed highlighted that this advancement allows for more efficient initial prenatal visits, while Myriad’s President Melissa Gonzales expressed excitement about increasing access to reliable genetic screening. The Prequel screen tests for various chromosomal conditions, providing expectant parents with critical information about their pregnancy health early on.
Potential Positives
- Myriad Genetics has become the first and only company to offer the Prequel® Prenatal Screen at eight weeks gestational age, setting a new standard in prenatal testing.
- The earlier availability of the Prequel screen allows expectant parents to obtain valuable genetic information sooner, facilitating informed decision-making during the early stages of pregnancy.
- Enhanced performance of the Prequel screen due to AMPLIFY™ technology, which increases the level of fetal DNA by 2.3-fold, may boost provider confidence and improve testing outcomes for a broader range of patients, including those with higher body mass indexes.
- This innovation underscores Myriad Genetics' commitment to advancing health and well-being through genetic insights, potentially leading to increased demand for their products and services.
Potential Negatives
- The press release includes a "Safe Harbor Statement" highlighting potential risks and uncertainties related to forward-looking statements, which may indicate underlying weaknesses or concerns regarding the company's future performance.
- The mention of risks associated with the company's filings with the U.S. Securities and Exchange Commission may raise red flags for investors about the company's financial health and regulatory compliance.
- There is a lack of substantial clinical data or confirmation regarding the effectiveness of the AMPLIFY technology, which could lead to skepticism about the reliability of the new prenatal screen among healthcare providers and patients.
FAQ
What is Prequel® Prenatal Screen?
Prequel is a prenatal cell-free DNA (cfDNA) screen that provides genetic insights as early as eight weeks into pregnancy.
How does AMPLIFY™ technology enhance Prequel?
AMPLIFY technology boosts fetal DNA signal levels by 2.3-fold, improving the accuracy of genetic screening results.
Why is earlier testing beneficial for expectant parents?
Early testing allows parents to obtain vital genetic information, facilitating informed decisions about care, specialists, and delivery planning.
What conditions can Prequel screen for?
Prequel screens for chromosomal conditions such as Down syndrome, Edwards syndrome, Patau syndrome, and sex chromosome abnormalities.
Who developed the Prequel Prenatal Screen?
The Prequel Prenatal Screen is developed by Myriad Genetics, a leader in genetic testing and precision medicine.
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 9 times in the past 6 months. Of those trades, 0 have been purchases and 9 have been sales.
Here’s a breakdown of recent trading of $MYGN stock by insiders over the last 6 months:
- PAUL J DIAZ (President and CEO) has traded it 2 times. They made 0 purchases and 2 sales, selling 30,000 shares.
- DALE MUZZEY (Chief Scientific Officer) sold 2,100 shares.
- HEINRICH DREISMANN sold 10,000 shares.
- COLLEEN F REITAN sold 46,012 shares.
- MARGARET ANCONA (SVP, Chief of Staff) sold 11,538 shares.
- RASHMI KUMAR sold 7,500 shares.
- DANIEL K SPIEGELMAN has traded it 2 times. They made 0 purchases and 2 sales, selling 7,576 shares.
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$MYGN Hedge Fund Activity
We have seen 130 institutional investors add shares of $MYGN stock to their portfolio, and 106 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, Nov. 19, 2024 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in genetic testing and precision medicine, announced that the Prequel® Prenatal Screen is now available at eight weeks into pregnancy. Enabled by its AMPLIFY™ technology, Prequel is the first and only prenatal cell-free DNA (cfDNA) screen available at eight-weeks gestational age.
“Previously, I would schedule my patients to come in at eight weeks for their first prenatal appointment; then, I would ask them to come back two weeks later to do a Prequel screen. Now that Prequel can be performed at eight weeks, patients have the opportunity to complete all baseline lab work during that initial care visit,” said Dallas Reed, MD, FACMG, FACOG, obstetrician-gynecologist and medical geneticist who serves as the Principal Medical Advisor of Women’s Health for Myriad Genetics. “As a result of this earlier timeframe, providers and their patients can obtain valuable genetic information earlier in the pregnancy, enabling them to make informed decisions based on that information sooner.”
Having genetic insights earlier in the pregnancy may help expectant parents determine if they want to pursue diagnostic testing, find certain types of care and specialists, plan for the best place to deliver, and schedule appointments with board-certified genetic counselors as needed.
“We are very excited to offer Prequel earlier in the pregnancy,” said Melissa Gonzales, President of Women’s Health, Myriad Genetics. “Myriad is committed to delivering reliable and validated genetic screens through investments in innovation such as AMPLIFY technology. By boosting the fetal DNA signal, providers can have higher confidence in the results for all their patients, including those with high BMIs. 1 ”
About Prequel
Myriad’s Prequel Prenatal Screen with AMPLIFY technology has been shown to increase the level of fetal DNA 2.3-fold on average
2
, allowing the test to provide pregnant patients with genetic insights into fetal development and the health of the pregnancy as early as eight weeks. The prenatal cfDNA screen can assess if a pregnancy is at an increased risk for several chromosomal conditions like Down, Edwards, or Patau syndrome, sex chromosome abnormalities, expanded aneuploidies, and select microdeletions, including 22q11.2.
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 statements relating to the company’s commitment to delivering reliable and validated genetic screens through investments in innovation, such as AMPLIFY technology, and how by boosting the fetal DNA signal, providers can have higher confidence in all of their patients results, including those with high BMIs. 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
[email protected]
1
BMI – body mass index
2
Welker, N.C., Lee, A.K., Kjolby, R.A.S. et al. High-throughput fetal fraction amplification increases analytical performance of noninvasive prenatal screening. Genet Med (2020).
https://doi.org/10.1038/s41436-020-01009-5
