Myriad Genetics Brings MyVectra Web Portal For RA Patients

In an attempt to expand its footprint in the multi-billion autoimmune diagnostics market, Myriad Genetics Inc. (NASDAQ:MYGN) recently launched a web-based portal -- myVectra. This portal is aimed at facilitating up-to-date health information for rheumatoid arthritis (RA) patients.

In particular, the myVectra portal will offer easy access for its users to their Vectra DA test score, which in turn would keep the concerned RA patients and their caregivers better informed about the current status of their disease.

Notably, Myriad’s Vectra DA is the first and only multi-biomarker blood test that measures disease activity in RA patients. With the help of this portal, RA patients can now easily keep track of their Vectra test results as well as test history.

The myVectra portal is available through the company’s myRA mobile application, which any patient owning an iPhone, iPad, or Android smartphone can have access to.

It is worth mentioning in this context that RA, the most common type of autoimmune arthritis, currently constitutes a crucial part of the global autoimmune diagnostics market; which is projected to reach $14.17 billion by 2020. We believe the launch of the myVectra portal will encourage more rheumatologist to advice their patients to take advantage of this easy-to-use platform, which in turn will expand Myriad’s share in the aforementioned market space.

On a brighter note, Myriad signed two private insurance contracts for Vectra DA in the last reported quarter, representing approximately 2 million covered lives. With increasing favorable data, outlining the efficacy of Vectra DA in providing optimal therapy for rheumatoid arthritis patients, management expects the company to sign more such contracts with a broad range of payers in the days ahead.

At present, the addressable market for Myriad’s Vectra DA test is $3 billion. We believe such progress of the Vectra DA test in terms of reimbursement coverage coupled with the benefits of the myVectra portal, has every potential to successfully enhance this addressable market for this unique diagnostic assay.

The company currently carries a Zacks Rank #3 (Hold). Better-ranked medical stocks are SurModics, Inc. (NASDAQ:SRDX) , Baxter International Inc. (NYSE:BAX) and Boston Scientific Corporation (NYSE:BSX) . While SurModics sports a Zacks Rank #1 (Strong Buy), Baxter and Boston Scientific carry a Zacks Rank #2.