Myriad Applauds New Consensus Statement From International Expert Panel On Screening Recommendations for Hereditary Prostate Cancer
SALT LAKE CITY, Jan. 22, 2018 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (NASDAQ:MYGN), a leader in molecular diagnostics and personalized medicine, announced today that the company is applauding a new consensus statement from a team of international experts with screening recommendations on hereditary prostate cancer that was published in the Journal of Clinical Oncology. The consensus recommendations point to the need for routine obtainment of family history information and hereditary cancer counselling for men with prostate cancer seen by either a urologist or oncologist.
"Prostate cancer patients have been an underserved community with genetic testing and metastatic patients face one the highest hereditary cancer mutation rates. Despite this fact, we estimate less than 10 percent of men who meet criteria for hereditary prostate cancer in the United States are tested today." said Nicole Lambert, General Manager, Urology, Myriad Genetics. "As the global leader in hereditary cancer testing we are dedicated to driving education and awareness for patients and physicians around the risks of hereditary prostate cancer. For example, we have recently taken steps to further enhance myRisk Hereditary Cancer, our market leading test for hereditary cancer with the recent addition of the HOXB13 gene which has been linked to hereditary prostate cancer risk. "
Recently the National Comprehensive Cancer Network (NCCN) updated their professional guidelines to support hereditary cancer testing for all men with metastatic prostate cancer which built upon previous testing recommendations for men with advanced prostate cancer and a family history of cancer. "It has become increasingly apparent that hereditary cancer mutations play a significant role in assessing individual patient prostate cancer risk as well as having an increasingly impactful effect in patient therapeutic selection ," said Neal D. Shore, M.D., President of the Large Urology Group Practice Association (LUGPA). "Knowing specific genetic information may not only affect the life of a prostate cancer patient but may also potentially affect the lives of his family members."
About Myriad Genetics
Myriad Genetics Inc., is a leading personalized medicine company dedicated to being a trusted advisor transforming patient lives worldwide with pioneering molecular diagnostics. Myriad discovers and commercializes molecular diagnostic tests that: determine the risk of developing disease, accurately diagnose disease, assess the risk of disease progression, and guide treatment decisions across six major medical specialties where molecular diagnostics can significantly improve patient care and lower healthcare costs. Myriad is focused on five strategic imperatives: stabilizing hereditary cancer revenue, growing new product volume, expanding reimbursement coverage for new products, increasing RNA kit revenue internationally and improving profitability with Elevate 2020. For more information on how Myriad is making a difference, please visit the Company's website: www.myriad.com.
Myriad, the Myriad logo, BART, BRACAnalysis, Colaris, Colaris AP, myPath, myRisk, Myriad myRisk, myRisk Hereditary Cancer, myChoice, myPlan, BRACAnalysis CDx, Tumor BRACAnalysis CDx, myChoice HRD, EndoPredict, Vectra, GeneSight, riskScore and Prolaris are trademarks or registered trademarks of Myriad Genetics, Inc. or its wholly owned subsidiaries 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 the consensus recommendations pointing to the need for routine obtainment of family history information and hereditary cancer counselling for men with prostate cancer seen by either a urologist or oncologist; the further enhancement of the myRisk Hereditary Cancer test with the recent addition of the HOXB13 gene which has been linked to hereditary prostate cancer risk; the role hereditary cancer mutations play in prostate cancer risk and future importance of their role in patient therapy selection; 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 described or implied 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 pharmaceutical and clinical services may decline or will not continue to increase at historical rates; risks related to our ability to transition from our existing product portfolio to our new tests; risks related to changes in the governmental or private insurers' reimbursement levels for our tests or our ability to obtain reimbursement for our new tests at comparable levels to our existing tests; risks related to increased competition and the development of new competing tests and services; the risk that we may be unable to develop or achieve commercial success for additional molecular diagnostic tests and pharmaceutical and clinical services in a timely manner, or at all; the risk that we may not successfully develop new markets for our molecular diagnostic tests and pharmaceutical and clinical 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 pharmaceutical and clinical 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, including but not limited to our acquisition of Assurex, Sividon and the Clinic; risks related to our projections about the potential market opportunity for our products; 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 pharmaceutical and clinical 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; the risk that we may be unable to comply with financial operating covenants under our credit or lending agreements; the risk that we will be unable to pay, when due, amounts due under our credit or lending agreements; and other factors discussed under the heading "Risk Factors" contained in Item 1A of our Annual report on Form 10-K for the fiscal year ended June 30, 2017, which has been 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.