SALT LAKE CITY, March 25, 2014 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (Nasdaq: MYGN ) today announced that results from seven clinical studies will be presented at the upcoming American College of Medical Genetics (ACMG) annual meeting, which will be held Mar. 25-Mar.29, 2013 in Nashville, Tennessee.
"We believe clinical research is vital to advance the science surrounding hereditary cancer and genetic testing, and we are committed to sharing timely and accurate information about our research with the scientific and medical communities," said Richard Wenstrup, chief medical officer at Myriad. "Myriad will continue to be a pioneer in hereditary cancer testing, especially as we look to improve patient care with our next-generation, myRisk™ Hereditary Cancer panel."
Summaries of three of Myriad's key poster presentations at ACMG surrounding Myriad's testing process and the Company's myVision™ variant classification program are presented below:
| 2014 ACMG – KEY POSTER PRESENTATIONS | |
| Title: | Align-GVGD, SIFT, Polyphen, MAPP-MMR, Grantham Analysis and Condel are weak |
| predictors of the clinical significance of missense variants. | |
| Presenter: | Iain Kerr |
| Date: | Friday, Mar. 28, 10:30 am to 12:00 pm CDT ( Poster 266 ) |
| Summary: | This study analyzes several commonly utilized variant classification algorithms and |
| compares their performance to Myriad's proprietary variant classification program. The | |
| study found that the accuracy of these algorithms was substantially lower than the | |
| traditionally accepted threshold for clinical confidence. | |
| Title: | Determining the clinical significance of silent BRCA1 and BRCA2 sequencing variants. |
| Presenter: | Karla Bowles |
| Date: | Friday, Mar. 28, 10:30 am to 12:00 pm CDT ( Poster 302 ) |
| Summary: | Sequencing analysis of the BRCA1 and BRCA2 genes may identify mutations that are |
| predicted to be translationally silent. This study describes a testing algorithm used by | |
| Myriad to determine the possible pathogenicity of silent mutations. | |
| Title: | Assessment of laboratory-based quality control processes to ensure appropriate |
| utilization of genetic testing for hereditary cancer risk. | |
| Presenter: | Serenedy Smith |
| Date: | Thursday, Mar. 27, 10:30 am to 12:00 pm CDT (Poster 165 ) |
| Summary: | This study evaluated BRAC Analysis ® and Colaris ® case submissions to evaluate whether |
| they met established clinical indications for testing based on patient histories. The study | |
| found that only 0.5 percent of test orders lacked apparent clinical risk factors for the | |
| ordered test and 93 percent met established clinical indications for testing consistent with | |
| NCCN 2012 practice guidelines. | |
About Myriad Genetics
Myriad Genetics is a leading molecular diagnostic company dedicated to making a difference in patients' lives through the discovery and commercialization of transformative tests to assess a person's risk of developing disease, guide treatment decisions and assess risk of disease progression and recurrence. Myriad's molecular diagnostic tests are based on an understanding of the role genes play in human disease and were developed with a commitment to improving an individual's decision making process for monitoring and treating disease. Myriad is focused on strategic directives to introduce new products, including companion diagnostics, as well as expanding internationally. For more information on how Myriad is making a difference, please visit the Company's website: www.myriad.com .
Myriad, the Myriad logo and Prolaris, Myriad myPath, Myriad myPlan, Myriad myRisk, are trademarks or registered trademarks of Myriad Genetics, Inc. in the United States and foreign countries. MYGN-F, MYGN-G.
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 results from seven clinical studies being presented at the upcoming American College of Medical Genetics (ACMG) annual meeting; the myRisk Hereditary Cancer panel improving patient care; and the Company's strategic directives under the caption "About Myriad Genetics." These "forward-looking statements" are management's present expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those described in the forward-looking statements. These risks include, but are not limited to: the risk that sales and profit margins of our existing molecular diagnostic tests and companion diagnostic services may decline or will not continue to increase at historical rates; risks related to changes in the governmental or private insurers reimbursement levels for our tests; the risk that we may be unable to develop or achieve commercial success for additional molecular diagnostic tests and companion diagnostic services in a timely manner, or at all; the risk that we may not successfully develop new markets for our molecular diagnostic tests and companion diagnostic services, including our ability to successfully generate revenue outside the United States; the risk that licenses to the technology underlying our molecular diagnostic tests and companion diagnostic services tests and any future tests are terminated or cannot be maintained on satisfactory terms; risks related to delays or other problems with operating our laboratory testing facilities; risks related to public concern over our genetic testing in general or our tests in particular; risks related to regulatory requirements or enforcement in the United States and foreign countries and changes in the structure of the healthcare system or healthcare payment systems; risks related to our ability to obtain new corporate collaborations or licenses and acquire new technologies or businesses on satisfactory terms, if at all; risks related to our ability to successfully integrate and derive benefits from any technologies or businesses that we license or acquire; risks related to increased competition and the development of new competing tests and services; the risk that we or our licensors may be unable to protect or that third parties will infringe the proprietary technologies underlying our tests; the risk of patent-infringement claims or challenges to the validity of our patents; risks related to changes in intellectual property laws covering our molecular diagnostic tests and companion diagnostic services and patents or enforcement in the United States and foreign countries, such as the Supreme Court decision in the lawsuit brought against us by the Association for Molecular Pathology et al; risks of new, changing and competitive technologies and regulations in the United States and internationally; and other factors discussed under the heading "Risk Factors" contained in Item 1A of our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, as well as any updates to those risk factors filed from time to time in our Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. All information in this press release is as of the date of the release, and Myriad undertakes no duty to update this information unless required by law.
Media Contact: Ron Rogers (801) 584-3065 Investor Contact: Scott Gleason (801) 584-1143
