Myriad Genetics, Inc. (NASDAQ:MYGN) is in the process of presenting favorable data related to the Vectra test, as part of its Autoimmune business, at the on-going 2019 ACR/ARP Annual Meeting in Atlanta, GA. The key focus of the studies is to predict the risk of a cardiovascular (CV) event in people with rheumatoid arthritis (RA) with the help of the Vectra score in combination with other clinical measures and the risk of radiographic progression (RP) within a year.
Per the company, the data indicates that the Vectra test precisely measures inflammation and can also help predict the risks of health consequences in patients. This will, thus, enable medical practitioners to customize precision treatment plans to achieve better results.
With the favorable outcomes of the test, the company aims to strengthen foothold in the global autoimmune disease diagnostics market.
More Details
The company presented two sets of data related to the prediction capacities of the Vectra test.
The first test assessed the ability of the Vectra test to predict patients’ “individual percentage risk” of RP within a year. The study evaluated data from 973 patients in four cohorts. The results obtained indicated that the Vectra test is a better predictor of RP within one year, compared to other tests currently available.
The second test was related to the derivation and validation of a biomarker-based cardiovascular risk prediction score in RA. The study assessed 30,751 Medicare patients with RA with the objective of developing and validating the Vectra CVD score. This predicts the risk for a first CV occurrence, by combining data from Vectra and clinical measures. The primary CV result was a combination of three types of CV events — heart attack, stroke and CV death — occurring within three years from testing.
Why is the Study a Breakthrough?
Myriad Genetics claims that the risk of permanent joint damage is directly proportional to the adjusted Vectra score. This implies that patients with a lower adjusted score were at lower risks of RP in one year compared to the patients with a higher score. Per the company, the Vectra score will provide reliable data to help care providers chalk out a proper treatment plan.
The company believes that the Vectra CVD score provides superior outcomes as compared to the other four CV prediction models. Also, on converting the scores to three-year percentage risk for having a CV event, the test scores indicated that around 80% of the patients were at a moderate or high risk of a CV event. These risk categories were on par with the American College of Cardiology/American Heart Association 2018 guidelines.
Industry Prospects
Per a report by Mordor Intelligence, the global autoimmune disease diagnostics market is expected to witness a CAGR of approximately 7.9% during the 2019-2024 period. The key factor driving the market is the growing awareness about autoimmune diseases through various programs of research, education, support and advocacy.
Price Performance
The company’s shares have lost 20.3% in the past year, wider than the industry’s decline of 7.3%. However, the S&P 500 index rose 12.8% during the same period.
Zacks Rank & Key Picks
Currently, Myriad Genetics carries a Zacks Rank #5 (Strong Sell). Some better-ranked stocks from the broader medical space are Haemonetics Corporation (NYSE:HAE) , NuVasive, Inc (NASDAQ:NUVA) and GW Pharmaceuticals plc (NASDAQ:GWPH) .
Haemonetics, currently sporting a Zacks Rank #1 (Strong Buy), has a projected long-term earnings growth rate at 13.5%. You can see the complete list of today’s Zacks #1 Rank stocks here.
NuVasive, with a Zacks Rank #2 (Buy), has projected a long-term earnings growth rate of 10.9%.
GW Pharmaceuticals estimates fourth-quarter earnings growth rate at 67.9%. It currently carries a Zacks Rank #2.
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Haemonetics Corporation (HAE): Free Stock Analysis Report
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Myriad Genetics, Inc. (MYGN): Free Stock Analysis Report
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