Myriad Genetics MyChoice Cancer Test Findings Encourage

Leading player in the molecular diagnostics and personalized medicine space, Myriad Genetics Inc. (NASDAQ:MYGN) , announced that its myChoice homologous recombination deficiencies (HRD) test will effectively recognize ovarian cancer patients who are benefiting from treatment with niraparib.

niraparib is an orally active PARP inhibitor developed by biopharmaceutical company Tesaro, Inc. (NASDAQ:TSRO) . This is an investigational product that is currently in Phase 3 clinical trial for ovarian cancer. niraparib currently awaits approval by the U.S. Food and Drug Administration.

myChoice HRD test determines whether a tumor has lost its repair mechanism. This comes close on the heels of the announcement of results from the NOVA study which assessed the effectiveness of niraparib. The treatment was conducted in more than 500 patients with recurrent ovarian cancer. Results confirm that the test increases the number of eligible patients by almost twofold, highlighting its advantage over the FDA-approved BRACAnalysis CDxtest.

With respect to myChoice HRD test, Myriad earlier noted that, it expects to serve a worldwide market size of $18.5 billion (compared with the current market size of $5.6 billion), going forward. We believe, the latest findings on myChoice HRD will pave the way for Myriad to achieve the FDA approval well in time.

Myriad Genetics is quite confident that, this new test would set high standards for the PARP inhibitor treatment and assist healthcare professionals in effectively treating patients.

Earlier this month, Myriad Genetics demonstrated its myRisk Hereditary Cancer Test in nearly 100,000 patients. The test had amplified the rate of mutation detection in ovarian cancer patients. Previously, the company had collaborated with Biomarin pharmaceutical to prospectively recognize ovarian cancer patients and other cancer types.

Key Picks in the Sector

At present, Myriad Genetics carries a Zacks Rank #3 (Hold). A couple of better-ranked stocks in the medical sector are Heska Corporation (NASDAQ:HSKA) and Innoviva, Inc. (NASDAQ:INVA) , each sporting a Zacks Rank #1 (Strong Buy).


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