SALT LAKE CITY, May 18, 2011 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (Nasdaq:MYGN) announced today the presentation of a study at the American Society of Clinical Oncology® (ASCO) Annual Meeting, including the complete results from a study titled, "Prognostic value of a 46-gene cell cycle progression (CCP) RNA signature for prostate cancer death in a conservatively managed watchful waiting needle biopsy cohort." The abstract of the presentation (#4542) is available on the ASCO Meeting website, www.asco.org.
Researchers analyzed the Company's 46-gene CCP panel, PROLARIS™, for 352 men whose clinically localized prostate cancer was diagnosed by needle biopsy. They compared the predictive nature of the CCP score in biopsies to the accepted clinical variables including Gleason score, baseline PSA, age, clinical stage and the extent of the disease. The study further analyzed PROLARIS™ as a predictor of cancer death for prostate cancer patients managed conservatively through observation and active surveillance.
Myriad believes the market need for the PROLARIS™ product stems from the limited ability of current markers to accurately predict prostate cancer aggressiveness at time of biopsy. Many men diagnosed with prostate cancer have indolent disease that can be safely monitored with active surveillance, whereas some patients have aggressive cancer and need immediate treatment. The challenge facing all men diagnosed with prostate cancer is to decide whether to have aggressive therapy, such as radiation or radical prostatectomy, which has potentially significant complications such as, incontinence and impotence or to monitor the disease through active surveillance. Overtreatment of prostate cancer and its attendant complications is widely recognized as an important public health issue and places an unnecessary financial burden on the health care system. The PROLARIS™ product, which
incorporates the CCP score, was developed to meet this significant need to improve the physician's ability to predict disease outcome and to thereby optimize treatment.
About Myriad Genetics
Myriad Genetics, Inc. (Nasdaq:MYGN) is a leading molecular diagnostic company dedicated to developing and marketing novel predictive, personalized and prognostic medicine products to assess a person's risk of developing disease and guide treatment decisions. Myriad's portfolio of nine molecular diagnostic products are based on an understanding of the role genes play in human disease and were developed with a focus on improving an individual's decision making process for monitoring and treating disease. With fiscal year 2010 annual revenue of over $360 million and approximately 1,000 employees, Myriad is working on strategic initiatives, including new product introductions, companion diagnostics, and international expansion, to take advantage of significant growth opportunities. For more information on how Myriad is
making a difference, please visit the Company's website: www.myriad.com.
Myriad, the Myriad logo, BRACAnalysis, Colaris, Colaris AP, Melaris, TheraGuide, Prezeon, OnDose, Panexia and Prolaris are trademarks or registered trademarks of Myriad Genetics, Inc. in the United States and foreign countries. MYGN-G
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Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including the Company's anticipated presentation of a prostate cancer study at the American Society for Clinical Oncology Annual Meeting; and the market needs for, and the ability of, the PROLARIS™ product and CCP score to meet the significant need to improve the physician's ability to predict disease outcome and to thereby optimize treatment. These "forward-looking statements" are based on management's current 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 set forth in or implied by forward-looking statements. These risks and uncertainties include, but are not limited to: the risk that sales and profit margins of our
existing molecular diagnostic products may decline or will not continue to increase at historical rates; the risk that we may be unable to expand into new markets outside of the United States; the risk that we may be unable to develop or achieve commercial success for additional molecular diagnostic products in a timely manner, or at all; the risk that licenses to the technology underlying our molecular diagnostic products and any future products are terminated or cannot be maintained on satisfactory terms; risks related to delays or other problems with manufacturing our products or operating our laboratory testing facilities; risks related to public concern over genetic testing in general or our products in particular; risks related to regulatory requirements or enforcement in the United
States and foreign countries and changes in the structure of healthcare payment systems; risks related to our ability to obtain new corporate collaborations and acquire new technologies or businesses on satisfactory terms, if at all, and risks related to our ability to successfully integrate and derive benefits from any technologies or businesses that we acquire; the development of competing products and services; the risk that we or our licensors may be unable to protect the proprietary technologies underlying our products; the risk of patent-infringement and invalidity claims or challenges of our patents; 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 in our Annual Report on Form
10-K for the year ended June 30, 2010, 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.
CONTACT: Rebecca Chambers
Director, Investor Relations and Corporate Communications
Source: Myriad Genetics, Inc.
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