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Myriad Genetics' CEO Discusses FQ1 2012 Results - Earnings Call Transcript

Crescendo’s initial product, Vectra DA, is the only blood-based molecular diagnostic test on the market that determines the level of disease activity in patients with rheumatoid arthritis. There are over 1.5 million Americans living with this debilitating disease, and 100,000 additional Americans will be diagnosed with rheumatoid arthritis this year. Vectra DA goes beyond the outward signs and symptoms of the disease to provide a deeper biological understanding of disease activity. This insight will enhance the healthcare management of all patients with rheumatoid arthritis.

This deal has the potential to complement Myriad’s expanding disease focus by adding autoimmune and inflammatory disease products to our current portfolio of tests in oncology, women’s health, urology, dermatology and neuroscience. No other molecular diagnostic company has Myriad’s breadth of opportunities in development across multiple disease indications.

Complementing our strategy of diversifying across disease indications, we continue to make progress with the integration of Myriad RBM in Austin, Texas. We have projected Myriad RBM’s companion diagnostic services revenue for this fiscal year to be between $24 million and $26 million. Therefore, we were pleased that the companion diagnostic service revenue for FQ1 was $6.5 million, which is trending toward the upper end of our guidance. Initially, five of the candidates in their product pipeline, which have the most significant commercial potential, are being developed and are proceeding toward future commercialization.

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