Myriad Genetics Launches New Universal Plus Panel for Foresight® Carrier Screen
Myriad Genetics (NASDAQ: MYGN) has introduced a new Universal Plus Panel to its Foresight® Carrier Screen. The panel includes 39 conditions and screens up to 272 genes related to serious inherited conditions. These additions align with the American College of Medical Genetics and Genomics (ACMG) guidelines, which recommend expanded carrier screening for individuals who are pregnant or planning to become pregnant. The updated panel uses next-generation sequencing (NGS) and other technologies to identify pathogenic variants across diverse ancestries. This enhanced screening tool aims to provide comprehensive genetic insights to support informed family planning decisions. Additionally, the Foresight carrier screen offers a detailed report and on-demand genetic counseling resources.
- Introduction of a new Universal Plus Panel to the Foresight® Carrier Screen.
- The panel includes 39 conditions and screens up to 272 genes.
- Alignment with ACMG guidelines, enhancing credibility and relevance.
- Utilizes next-generation sequencing (NGS) and other advanced technologies.
- Aims to provide equitable and accessible prenatal care.
- Includes a detailed report and free, on-demand genetic counseling resources.
- No specific mention of cost implications for consumers or the company.
- Potential risks of false positives or negatives inherent to genetic testing.
- The market reaction to the new panel introduction is yet to be determined.
Insights
Myriad Genetics has introduced a new Universal Plus Panel to its Foresight® Carrier Screen, expanding its genetic testing capabilities to include 39 conditions and 272 genes. This aligns with the American College of Medical Genetics and Genomics (ACMG) guidelines, which advocate for broader carrier screening.
The inclusion of these specific conditions can greatly impact prenatal care and family planning. The use of next-generation sequencing (NGS) is significant, enabling precise identification of genetic variations that may otherwise be missed by older technologies. This could lead to earlier detection and intervention for genetic diseases, potentially improving patient outcomes.
For investors, this development suggests that Myriad Genetics is staying at the forefront of genetic testing innovation, which may drive adoption among healthcare providers and expectant parents. However, the technology and guidelines' reliance on clinical actionability and the specific genes chosen for the panel could be seen as a competitive edge.
In summary, this panel update may strengthen Myriad's market position in the genetic testing field and suggest a focus on growth through innovation.
The expansion of Myriad Genetics' Foresight® Carrier Screen with the new Universal Plus Panel could have several financial implications. It positions the company to capture a larger share of the prenatal genetic testing market, which is projected to grow significantly in the coming years.
Given that the new panel adheres to ACMG guidelines, Myriad may see increased demand from healthcare providers eager to offer comprehensive carrier screening to their patients. This could translate into higher revenue streams, potentially boosting the company's financial performance in both the short and long term.
Investors should, however, consider the costs associated with the development and marketing of the new panel. While the initial phase may imply higher expenditures, the expected uptake and market penetration could offset these costs over time, leading to profitability.
SALT LAKE CITY, June 04, 2024 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in genetic testing and precision medicine, today announced the addition of a new Universal Plus Panel to its Foresight® Carrier Screen. The panel includes 39 conditions and screens up to 272 genes associated with serious inherited conditions.
The conditions added to the Universal Plus panel were named in the American College of Medical Genetics and Genomics (ACMG) practice resource for carrier screening. The ACMG calls for expanded carrier screening to be routinely offered to individuals who are pregnant or considering becoming pregnant, while also advising on specific conditions to be tested.
“Building on our efforts to advance equitable and accessible prenatal care, our latest panel update reflects Myriad’s commitment to continually growing and innovating to provide genetic insights that can help guide family planning decisions for every parent,” said Dale Muzzey, chief scientific officer, Myriad Genetics. “The genes incorporated into the Universal Plus panel were selected based on guideline recommendations, associated condition severity, condition prevalence, clinical actionability of results, and detection sensitivity.”
Myriad’s expanded carrier screen applies next-generation sequencing (NGS) and other technologies to find pathogenic variants underlying heritable genetic diseases, regardless of ancestry. The Foresight carrier screen offers a detailed report that includes test results and testing methodology, while also providing free and on-demand access to genetic counseling resources to help families and providers understand the report and be informed when considering next steps.
About Myriad Genetics
Myriad Genetics is a leading genetic testing and precision medicine company dedicated to advancing health and well-being for all. Myriad develops and offers genetic tests that help assess the risk of developing disease or disease progression and guide treatment decisions across medical specialties where genetic insights can significantly improve patient care and lower healthcare costs. For more information, visit www.myriad.com.
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 addition of a new Universal Plus Panel to the Foresight Carrier Screen. These “forward-looking statements” are management’s expectations of future events as of the date hereof and are subject to known and unknown risks and uncertainties that could cause actual results, conditions, and events to differ materially and adversely from those anticipated. Such factors include those risks described in the company’s filings with the U.S. Securities and Exchange Commission, including the company’s Annual Report on Form 10-K filed on February 28, 2024, as well as any updates to those risk factors filed from time to time in the company’s Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. Myriad is not under any obligation, and it expressly disclaims any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise except as required by law.
Investor Contact
Matt Scalo
(801) 584-3532
IR@myriad.com
Media Contact
Glenn Farrell
(385) 318-3718
PR@myriad.com
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