Myriad Genetics and Lumea Inc. partner to integrate molecular diagnostics into Lumea's digital pathology platform, enhancing cancer care efficiency.
Quiver AI Summary
Myriad Genetics and Lumea Inc. have announced a partnership to integrate Myriad's Prolaris® Prostate Cancer Test and MyRisk® Hereditary Cancer Test into Lumea's digital pathology platform, BxLink™. This integration aims to enhance the efficiency of ordering and delivering molecular tests, allowing healthcare providers to electronically place orders, track them, and receive results within an average of 10 days post-specimen collection. The collaboration seeks to reduce manual errors and supports clinicians in making informed treatment decisions, ultimately improving patient outcomes. Lumea, a leader in clinical digital pathology, processes a high volume of primary digital diagnoses, while Myriad focuses on advanced genetic and genomic testing to guide cancer treatment.
Potential Positives
- The integration of Myriad’s Prolaris and MyRisk tests into Lumea's BxLink platform enhances the operational efficiency of molecular testing for clinicians, streamlining workflows and potentially improving patient care.
- This collaboration aims to deliver molecular test results in an average of under 10 days, promoting timely decision-making in cancer treatment and possibly improving outcomes for patients.
- Prolaris being included in the NCCN Clinical Practice Guidelines highlights its credibility and significance in guiding prostate cancer treatment, elevating Myriad's reputation in the oncology field.
- The partnership with Lumea positions Myriad Genetics to reach a wider audience through Lumea's established market presence, potentially increasing the utilization of their diagnostic tests.
Potential Negatives
- The reliance on "forward-looking statements" highlights uncertainties regarding the success of the integration and could indicate potential regulatory or operational risks.
- The statement about the integration aiming to deliver results in under 10 days may raise expectations that Myriad must now meet consistently, which could pressure operational performance.
- The press release does not provide specific details about any competitive advantages gained through this collaboration, leaving questions about its strategic impact on the company's market position.
FAQ
What is the collaboration between Myriad Genetics and Lumea Inc.?
Myriad Genetics and Lumea Inc. are integrating Myriad’s molecular diagnostic tests into Lumea’s digital pathology platform, BxLink™.
How will this integration benefit healthcare providers?
The integration will streamline the ordering process, reduce errors, and aim to deliver test results in under 10 days.
Which tests are included in this partnership?
The collaboration includes Myriad's Prolaris® Prostate Cancer Test and MyRisk® Hereditary Cancer Test.
What is the significance of Prolaris and MyRisk tests?
Prolaris helps assess prostate cancer aggressiveness, while MyRisk evaluates hereditary cancer risk across 48 genes.
What impact does this integration have on patient care?
This integration aims to improve patient outcomes by providing timely, actionable molecular diagnostic insights for informed treatment decisions.
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:
- COLLEEN F REITAN sold 46,012 shares for an estimated $1,285,851
- PAUL J DIAZ (President and CEO) has made 0 purchases and 2 sales selling 30,000 shares for an estimated $744,750.
- MARGARET ANCONA (SVP, Chief of Staff) sold 11,538 shares for an estimated $320,987
- HEINRICH DREISMANN sold 10,000 shares for an estimated $270,520
- RASHMI KUMAR sold 7,500 shares for an estimated $210,075
- DALE MUZZEY (Chief Scientific Officer) sold 2,100 shares for an estimated $54,961
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$MYGN Hedge Fund Activity
We have seen 121 institutional investors add shares of $MYGN stock to their portfolio, and 110 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, for an estimated $68,116,245
- CITADEL ADVISORS LLC removed 1,695,989 shares (-96.1%) from their portfolio in Q3 2024, for an estimated $46,453,138
- CAMBER CAPITAL MANAGEMENT LP removed 1,550,000 shares (-28.2%) from their portfolio in Q3 2024, for an estimated $42,454,500
- WELLINGTON MANAGEMENT GROUP LLP removed 1,545,842 shares (-18.7%) from their portfolio in Q3 2024, for an estimated $42,340,612
- LOOMIS SAYLES & CO L P added 1,326,497 shares (+153.7%) to their portfolio in Q3 2024, for an estimated $36,332,752
- MILLENNIUM MANAGEMENT LLC added 777,499 shares (+17.7%) to their portfolio in Q3 2024, for an estimated $21,295,697
- MORGAN STANLEY removed 491,650 shares (-35.8%) from their portfolio in Q3 2024, for an estimated $13,466,293
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
SALT LAKE CITY, Feb. 05, 2025 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc . (NASDAQ: MYGN), a leader in genetic and genomic tumor testing and precision medicine, and Lumea Inc., a leader in digital pathology solutions, have signed an agreement to integrate Myriad’s advanced molecular diagnostic tests — Prolaris ® Prostate Cancer Test and MyRisk ® Hereditary Cancer Test – into Lumea’s digital pathology platform, BxLink™.
This collaboration will streamline the ordering and delivery of molecular tests, enabling healthcare providers to electronically order and track Prolaris and MyRisk tests, with results delivered directly within BxLink’s intuitive platform. By replacing manual processes, the integration will reduce errors and aims to deliver molecular testing results to clinicians in an average of under 10 days after specimen collection.
“Clinicians need ready access to molecular diagnostic tools at the point of care to improve cancer outcomes,” said George Daneker, Jr., MD, President and Chief Clinical Officer, Oncology, Myriad Genetics. “Prolaris — included in the recent NCCN Clinical Practice Guidelines in Oncology for Prostate Cancer (NCCN Guidelines ® ) i — quantifies prostate cancer aggressiveness to guide treatment decisions at cancer diagnosis, while MyRisk evaluates 48 genes associated with hereditary cancer risk to guide treatments and identify risks to family members. This collaboration with Lumea ensures precision-based insights are delivered in a timely fashion when they’re needed most to empower patients and providers to make informed decisions.”
“This integration simplifies workflows for physicians,” said Jim Pack, CEO of Lumea. “With fewer clicks and reduced data entry, clinicians can seamlessly order Myriad’s advanced tests, access actionable results within the platform they trust, and deliver personalized care. These insights can unlock advanced treatment options, targeted therapies, and clinical trials, driving improved patient outcomes.”
About Lumea
Lumea is the U.S. leader in clinical digital pathology, processing the highest volume of primary digital diagnosis nationwide. With over a decade of expertise, its innovative tissue-handling technology and AI-driven workflows set a new standard of efficiency, quality, and standardization in cancer diagnostics. Trusted by over 50% of the U.S. urology market and spanning five continents, Lumea’s solutions enhance tissue integrity, improve detection rates, and deliver measurable ROI. By placing patients at the core, Lumea is transforming pathology for a more precise and efficient future. Learn more at www.lumeadigital.com. Learn more at
www.lumeadigital.com
.
About Myriad Genetics
Myriad Genetics is a leading genetic and genomic tumor testing and precision medicine company dedicated to advancing health and well-being for all. Myriad Genetics 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 the company’s collaboration with Lumea will streamline the ordering and delivery of molecular tests and that by replacing manual processes, the integration will reduce errors and aims to provide clinicians with timely molecular testing results— on average, in under 10 days after specimen collection—to empower patients and providers to make informed decisions. 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
Kate Schraml
(224) 875-4493
[email protected]
_____________________________
i National Comprehensive Cancer Network. NCCN makes no warranties of any kind whatsoever regarding their content, use or application and disclaims any responsibility for their application or use in any way.