Myriad Genetics disclosed this morning that as part two a GeneSight, which was designed to analyze the hospital resource utilization and costs of a group of patients who had received GeneSight testing compared to a matched control group of patients who had not received GeneSight testing, has been discontinued. Myriad stated in a regulatory filing: “After the best-matched non-GeneSight control group was identified using the available data, the Company identified significant disparities between the GeneSight patient group and this non-GeneSight control group in baseline hospital resource utilization and costs. The Company believes such disparities indicated that this non-GeneSight control group was not a viable control for part two of the study. As a result, the Company concluded that any data comparing the GeneSight patient group against this non-GeneSight control group were not reliable. Therefore, the Company has determined to discontinue the analysis for this part of the study,” Shares of Myriad Genetics are down 9% to $25.00 in midday trading.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MYGN:
- Myriad Genetics Reports GeneSight Testing Study Progress
- Foot Locker trips after earnings, Kohl’s posts Q2 beat: Morning Buzz
- Illumina upgraded, Fiserv initiated: Wall Street’s top analyst calls
- Wells Fargo starts tools and diagnostics group with positive bias
- Myriad Genetics initiated with an Overweight at Wells Fargo