) will present a study on a lung cancer prognostic test at the
upcoming American Society of Clinical Oncology annual meeting. The
study assessed the prognostic value of cell cycle progression
('CCP') score for 256 patients with stage I and II lung
adenocarcinoma. This was used in predicting patient outcomes and
correlation between the CCP score and certain factors such as age,
stage of disease, gender, smoking status, tumor size and
The test would help in the treatment of patients suffering from
lung cancer by assessing the aggressiveness of the disease. Myriad
is targeting a 2013 launch of the lung cancer prognosis test with
an estimated market size of $100 million. Another test slated for a
2013 launch is the melanoma test, which determines whether a skin
biopsy is benign or malignant, from in-licensing of technology from
Myriad is targeting the expansion of its pipeline into diverse
indications including oncology, women's health, urology,
dermatology, autoimmune and inflammatory disease and neuroscience.
To achieve this objective the company has decided to pursue
internal developments, in-licensing of technologies and suitable
The company has entered into a deal with Crescendo Biosciences,
which in due course can complement its portfolio by adding
autoimmune and inflammatory disease products. Over the recent past,
the company has acquired RBM and in-licensed technologies from
Chronix Biomedical and Melanoma Diagnostics. At present, the
company has 13 products under development at various stages.
Myriad is also aiming at establishing itself as a strong player
in the companion diagnostic market. The company has agreements with
several pharmaceutical companies including
). Myriad now has exposure to RBM's proprietary protein technology
and 550 immunoassays, placing it as a leader in this arena. Through
several collaborations, RBM has obtained companion diagnostic
rights to many of the drugs under development. These developments
should augur well for the long-term development of Myriad.
We have a Neutral recommendation on Myriad Genetics. The stock
retains a Zacks #3 Rank (Hold) in the short term.
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