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Health Discovery Corporation Responds To Tabloid “News”

Health Discovery Corporation (OTCBB: HDVY) would like to respond to a tabloid story that appeared this past week about the Company that contained a number of untruths. It is worth noting that it appears that Health Discovery Corporation is caught in ongoing crossfire between two competing stock market news services, one that recently issued an independent, positive report on the Company that was, in turn, followed by the tabloid story last week.

The Company points out the following:

  • The Company takes very seriously its contractual obligations, including confidentiality provisions. As a result, the Company is required under contract law to limit the amount of information it can provide the public, including journalists. We make no apologies for adhering to our contractual obligations.
  • The Company stands by the superior sensitivity and specificity of our new, non-invasive, four-gene prostate cancer test published in the peer-reviewed publication, UroToday, in August, 2009. The Company stands by its public disclosures related to this test and is pleased with its continued progress.

Here are some independent commentaries on the PSA:

Dr. Otis Brawley, the chief medical officer of the American Cancer Society, and quoted in last week’s tabloid attack on Health Discovery Corporation, had this to say about the PSA: “The PSA test is about 50 times more likely to ruin your life than it is to save your life.”

The New England Journal of Medicine published in March 2009 the results of the largest prostate cancer studies in the U.S. and Europe, which said: “We now know that prostate-cancer screening (PSA) provided no reduction in the death rates at 7 years and that no indication of a benefit appeared with 67% of the subjects having completed 10 years of follow-up.”

“The rate of overdiagnosis of prostate cancer has been estimated to be as high as 50% in the (PSA) screening group… Overdiagnosis and overtreatment are probably the most important adverse effects of prostate-cancer screening and are vastly more common than in screening for breast, colorectal, or cervical cancer.”

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