MYGN Stock Up on Integration of HRD Platform Into Illumina's TSO 500 v2

Company Updates - Myriad Genetics has updated its agreement with Illumina to include its Genomic Instability Score (GIS) in all samples analyzed with Illumina's TruSight Oncology 500 v2 assay, enhancing the accessibility of GIS as a potential companion diagnostic across multiple tumor types [1][2] - Following the announcement, Myriad Genetics' stock (MYGN) rose by 3.2%, closing at $15.49, indicating positive market sentiment towards the company's diagnostic solutions [3] - The company currently has a market capitalization of$1.41 billion, with earnings expected to surge by 144.4% in 2024, alongside an 11.7% increase in revenues [4] Product Significance - Myriad's MyChoice CDx test helps identify patients with tumors that cannot repair double-stranded DNA breaks, making them more susceptible to DNA-damaging drugs, thus broadening clinical research opportunities and driving companion diagnostic development for HRD-based therapies [5] - The inclusion of GIS in the Precise Tumor clinical reports is anticipated to strengthen Myriad Genetics' oncology product portfolio [6] Industry Prospects - The global oncology companion diagnostic (CDx) market was valued at $4.78 billion in 2023 and is projected to grow at a compound annual growth rate of 8.7% through 2030, driven by the increasing prevalence of cancer and the rising emphasis on personalized medicine [7]