A Midwestern medical breakthrough is pending. Paul Mampilly believes it may be the greatest medical discovery in history. It’s a leader in diagnostic DNA sequencing that targets differing forms of cancer. Another hint as to the name of this company is its CEO, who is a biotech pioneer, leading the industry for the past 25 years. The best guess is this company is Myriad Genetics, a Salt Lake City, Utah personalized medicine and diagnostic company.
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— Paul Mampilly (@Paul_M_Guru) December 7, 2017
Myriad Genetics specializes in selling and processing cancer risk tests referred to as hereditary cancer screening. It’s in these tests that they predict the likelihood that someone will develop cancer of the breast or colon. These tests identify early mutations that can indicate an increased risk of developing the disease. From there patients can elect to undergo early-stage interventions to reduce the risk of developing the disease.
Myriad’s stock value was up after recent lows most recently. Still, after the announcement by Mampilly, the stock rose from a $1.5 billion stock to a $2.2 billion. The share price leveled off as their competitors rallied to keep the heat on Myriad. Myriad had been the forerunner and consequently, held on to the exclusivity of their services until losing out in a court battle for rights to use similar technology for early-stage cancer detection.
Specifically, the Supreme Court disallowed Myriad’s rights to patents, on genes BRCA1 and BRCA2. This made it possible for their competitors to test for the same cancer mutations in patients. Myriad remained the top provider, because they still generated the most reliable testing after insurers decided to cover some of the costs. Most importantly, Myriad had years to build up a library of testing results to which they often referred. Other testing facilities had to wait years to generate the same volume of cancer variant and mutation references.
Paul Mampilly notes that Myriad’s financials don’t tell the story clearly. Revenues have been flat for at least four years. It’s even expected that earnings will drop slightly and then rise steadily for two years straight. Mampilly is certain that precision medicine is going to growth at an exponential rate. Buying Myriad now will just put you in the driver’s seat for when the stock explodes. Everyone who is in the cancer battle will want a driver’s seat. They’ll all want to be in control of the best information and Myriad is poised to be the deliverer of that information.
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