has the deepest diagnostic pipeline across the disease spectrum."
Myriad Genetics (Nasdaq: MYGN)
is a biopharmaceutical with a low debt to assets ratio and a very promising
pipeline. The company has been hit hard over the last year and has been
shorted quite heavily. With earnings out, the stock is looking to rebound
off its 52 week low and and we feel that a classic short squeeze will be in
for the near term.
Myriad Genetics (MYGN)
is a personalized medicine company, that focuses on the development and
marketing of predictive, personalized, and prognostic medicine tests
It operates through two segments, Diagnostics
and Other. The Diagnostics segment primarily provides testing and
collaborative development of testing that is designed to assess an
individuals risk for developing disease; identify a patients likelihood of
responding to drug therapy; guide a patients dosing to ensure optimal
treatment; and assess a patients risk of disease progression and disease
recurrence. The Other segment provides testing products and services to the
pharmaceutical, biotechnology, and medical research industries; and research
and development, and clinical services for patients.
Its molecular diagnostic DNA sequencing tests
include myRisk Hereditary cancer, a test for hereditary cancers;
BRACAnalysis and BART, which are tests for hereditary breast and ovarian
cancers; BRACAnalysis CDx test for use in identifying ovarian cancer
patients with suspected deleterious germline; and Tumor BRACAnalysis CDx
test that is used to predict DNA damaging agents, such as platinum based
chemotherapy agents and poly ADP ribose inhibitors. The company also
provides COLARIS test for colorectal and uterine cancers; COLARIS AP test
for colorectal cancer; Vectra DA protein detection test for assessing the
disease activity of rheumatoid arthritis; Prolaris, a RNA expression test
for prostate cancer; EndoPredict RNA expression test for breast cancer;
myPath Melanoma RNA expression test for diagnosing melanoma; myChoice
homologous recombination deficiency (HRD) test to measure three modes of HRD;
and myPlan lung cancer, an RNA expression test for lung cancer.
Myriad Genetics, Inc. has collaboration with
AstraZeneca for the development of an indication for BRACAnalysis CDx. The
company was founded in 1991 and is headquartered in Salt Lake City, Utah.
Earnings: Reported fiscal
second-quarter earnings of $5.9 million and net income of 9 cents per
Revenues - Total Revenues of
Share Buyback - During
the quarter, the Company repurchased approximately 600,000 shares, or
$10 million, of common stock under its share repurchase program and
ended the quarter with approximately $161 million remaining on its
current share repurchase authorization.
Product Development -
GeneSight - Volume grew 61 percent year-over-year to approximately
57,000 tests performed in the fiscal second-quarter. Prolaris- Volume
grew 33 percent year-over-year with approximately 4,700 tests ordered.
EndoPredict- Revenues grew 78 percent year-over-year to $1.6 million in
the fiscal second-quarter. myPath Melanoma- The third clinical
validation study and second clinical utility study were accepted for
publication. Vectra DA- Volume declined three percent in the
second-quarter year-over-year with approximately 37,000 tests
performed.Companion Diagnostics- Completed the submission of the
myChoice HRD pre-market approval (PMA) application to the FDA for review
in conjunction with niraparib. International- International revenue grew
to five percent of total product revenue.
Announced that multiple Blue Cross Blue Shield affiliate plans
have issued positive coverage determinations.
Innovation - Announced
results of a large head-to-head study comparing the efficacy of six
tests used to predict the recurrence of breast cancer. A key
finding was that EndoPredict (EPclin), a second-generation test, was
superior to Oncotype Dx (RS), a first-generation test, in predicting the
long-term recurrence of breast cancer.
C. Capone - President and Chief Executive Officer
Mark C. Capone is President and CEO of
Myriad Genetics. He previously served as President of Myriad Genetic
Laboratories from March 2010 to June 2015. Mr. Capone joined the company in
October 2002. Prior to joining Myriad, he served 17 years with Eli Lilly and
Company where he held positions as Product Development Manager,
Manufacturing Plant Manager, and Area Sales Director. Mr. Capone received
his B.S. degree in Chemical Engineering from Penn State University
graduating with highest distinction and his M.S. degree in Chemical
Engineering from Massachusetts Institute of Technology. He also earned a
Master of Science in Management from the Sloan School of Management at the
Massachusetts Institute of Technology. In 2012, Mr. Capone was elected
Outstanding Engineering Alumnus at Penn State and he is a member of the
Industrial and Professional Advisory Council at Penn State. He currently
serves on the Board of the American Clinical Laboratory Association. Mr.
Capone also is a Member of the Board of Trustees for Pioneer Theatre Company
in Salt Lake City.
Burke - Executive Vice President, Emerging Products
Patrick Burke, executive vice president
of emerging products, joined the company in 2001. In his current role, he
oversees New Product Planning, Business Development and Project Management.
Previously, Dr. Burke served as Vice President of Strategic Collaborations
and held positions of increasing responsibility within the Business and
Corporate Development group at Myriad. Between 2009 and 2011, he served as
Vice President of Corporate and Business Development at Myrexis, Inc., a
subsidiary of the company. Dr. Burke is an active member of Licensing
Executive Society and the Association of University Technology Managers. He
earned his Ph.D. in Cell Biology from the University of Utah School of
Medicine and his B.A. in Molecular Biology from the University of
California, San Diego.
C. Drosos - President, Assurex Health
Virginia “Gina” C. Drosos, president
of Assurex Health, joined the Company in 2013. Previously, she grew global
brand portfolios in the consumer goods and personal care industries at
Procter & Gamble for 25 years. Ms. Drosos was group president for
Global Beauty Care, a $6 billion business with 6,000 employees in 120
countries and 50 brands, including CoverGirl, Old Spice, Pantene and Olay,
which grew from less than $200 million to more than $2.5 billion in sales
under her leadership. Twice recognized as one of Fortune’s 50 Most
Powerful Women in Business, Ms. Drosos was also recently
named 2015 Corporate Woman of the Year by the Cincinnati Chamber of Commerce
and one of Cincinnati’s “16 for 2016” top business leaders. Under her
leadership, Assurex Health was recognized as one of Inc. magazine’s 50
Fastest Growing Women-Led Companies in America and USA Today’s Top 10
Entrepreneurial Companies. Ms. Drosos holds a B.S. in Business
Administration from The Terry School, University of Georgia, and an M.B.A.
from The Wharton School, University of Pennsylvania. She serves on the
boards of directors of Signet Jewelers, Ltd. and American Financial Group.
Ford - President, Myriad Genectic Laboratories
Alexander Ford, President of Myriad
Genetic Laboratories, joined the company in June 2010. Before being named to
his current position, he served as Chief Commercial Officer. Prior to
joining Myriad, Mr. Ford held leadership positions at Novartis,
Sanofi-Aventis, Nektar Therapeutics and Pfizer in the areas of Marketing
Research, Product Marketing, Managed Care, Sales and Business Development.
He has more than 25 years of experience in the pharmaceutical and
biotechnology industries. Mr. Ford received his B.A. degree in
Communications from the University of North Carolina, Wilmington and his
M.A. degree from New York University. He was a founding board member
for BioUtah and was voted Sales Executive of the Year by the Utah Technology
Council in 2012.
320 Wakara Way
Salt Lake City, UT 84108
feature stock reports are intended to be stock ideas, not recommendations.
Please do your own research before investing. It is crucial that you at
least look at current SEC filings and read the latest press releases.
Information contained in this report was extracted from current documents
filed with the SEC, the company website and other publicly available sources
deemed reliable. For more information see our disclaimer section, a link of
which can be found on our website. This document contains forward-looking
statements, particularly as related to the business plans of the Company,
within the meaning of Section 27A of the Securities Act of 1933 and Sections
21E of the Securities Exchange Act of 1934, and is subject to the safe
harbor created by these sections. Actual results may differ materially from
the Company's expectations and estimates. The information provided in this
report is not intended for distribution to, or use by, any person or entity
in any jurisdiction or country where such distribution or use would be
contrary to law or regulation or which would subject us to any registration
requirement within such jurisdiction or country.
SmallCapReview. All rights reserved. SCR is not a Registered Broker/Dealer
or Financial Advisor. All materials presented on our website and individual
reports released to the public through this website, e-mail or any other
means of transmission are not to be regarded as investment advice and
are only for informative purposes. Before making a purchase or sale of any
securities featured on our web site or mentioned in our reports, we
strongly encourage and recommend consultation with a registered
securities representative. This is not to be construed as a
solicitation or recommendation to buy or sell securities. Past
performance of our profiled stocks is not indicative of future results. The
profile and opinions expressed herein are expressed as of the date the
profile is posted on site and are subject to change without notice. No
investor should assume that reliance on the views, opinions or
recommendations contained herein will produce profitable results.
SmallCapReview may hold positions in securities mentioned herein, and may
make purchases or sales in such securities featured on our website or within
our reports In order to be in full
compliance with the Securities Act of 1933, Section 17(b), SCR will disclose
in it's disclaimer, what, if any compensation was received for our
efforts in researching, presenting and disseminating this information to our
subscriber database and featuring the report on the SmallCapReview website. SmallCapReview
has not been compensated for its efforts with regards to Myriad Genetics. As
with any stock, companies we select to profile involve a degree of
investment risk and volatility, particularly small-caps. All investors are
cautioned that they may lose all or a portion of their investment if they
decide to make a purchase in any of our profiled companies.
encourage our readers to invest carefully and read the investor information
available at the web sites of the Securities and Exchange Commission (SEC)
and/or the National Association of Securities Dealers (NASD) at: http://www.nasd.com. Readers can review all public filings by companies at the SEC's EDGAR
page. The NASD has published information on how to invest carefully at its