Myriad Genetics, Inc. (MYGN) reported encouraging results from a pivotal clinical utility study of its myPath Melanoma test at the 2014 College of American Pathologists (CAP) annual meeting in Chicago. myPath Melanoma is a clinically validated gene expression molecular test that has been designed to differentiate malignant melanoma from benign skin lesions, with more than 90% accuracy.
This study evaluated 687 pigmented skin lesions submitted by 42 dermatopathologists who were then asked to document their diagnosis, level of confidence, further testing and treatment recommendations, both pre- and post-receipt of the myPath test results.
The results showed that 35% of these dermatologists revised their treatment recommendation after receiving the myPath Melanoma test score. Moreover, the test score led to a 76% reduction in "indeterminate" diagnoses. According to Myriad, these data support the integration of myPath Melanoma into clinical practice for improvement of the diagnosis of melanoma, thereby enhancing the scope of patient care.
With certain melanomas imitating benign skin lesions, it becomes quite difficult for clinicians to diagnose the former in patients accurately. In such situations, Myriad myPath Melanoma comes of help as it has the ability to discriminate malignant melanoma from benign skin lesions.
Management at Myriad strongly believes that myPath Melanoma has the potential to significantly improve the standard of patient care for those diagnosed with melanoma. With this test, it will be much easier for physicians to detect whether a patient has malignant melanoma that needs surgical or medical intervention or whether it is just a case of harmless skin lesion. Accordingly, appropriate therapy can be administered in the best interest of the patient.
Myriad Genetics currently has a Zacks Rank #3 (Hold).
Some well-placed Bio-medical stocks that warrant a look include Amgen Inc. (AMGN), Gilead Sciences Inc. (GILD) and Illumina Inc. (ILMN). All these stocks carry a Zacks Rank #1 (Strong Buy).
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