Myriad Genetics Announces Presentation of Lung Cancer Study at American Society for Clinical Oncology Annual Meeting
Results Include Data on the Company's Lung Cancer Prognosis Test
SALT LAKE CITY, May 16, 2012 (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, "Use of a proliferation-based mRNA signature to predict outcome in early-stage non-small cell lung adenocarcinoma." The abstract of the presentation (#7023) is available on the ASCO Meeting website, www.asco.org.
Researchers at MD Anderson Cancer Center and Myriad Genetics generated a cell cycle progression (CCP) score for 256 patients with stage I and II lung adenocarcinoma by analyzing the level of expression in 46 cell-cycle progression and housekeeping genes. The study then assessed the prognostic value of the CCP score in predicting patient outcomes as well as the correlation between the CCP score and clinical variables including age, stage of disease, gender, smoking status, tumor size and treatment.
The market need for a lung cancer prognostic test stems from the absence of a molecular diagnostic test to accurately predict disease aggressiveness for patients diagnosed with stage I or II lung adenocarcinoma. Myriad's goal is to develop a prognostic lung cancer test that helps patients understand the aggressiveness of their disease.
About Myriad Genetics
Myriad Genetics, Inc. 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 portfolio of nine molecular diagnostic tests 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 2011 annual revenue of over $400 million and more than 1,000 employees, Myriad is working on strategic directives, 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
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 the Company's presentation of a lung cancer study at the American Society for Clinical Oncology Annual Meeting; the market needs for a lung cancer prognostic test to help patients understand the aggressiveness of their disease; the Company's goal and plans to develop a prognostic lung cancer test; and the Company's strategic directives under the caption "About Myriad Genetics". 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 tests and companion diagnostic services 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 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 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 tests 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; risks related to our ability to successfully integrate and derive benefits from any technologies or businesses that we acquire; the development of competing tests and services; the risk that we or our licensors may be unable to protect the
proprietary technologies underlying our tests; 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 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.
CONTACT: Rebecca Chambers
Director, Investor Relations and Corporate Communications
Source: Myriad Genetics, Inc.
News Provided by Acquire Media