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Myriad to Buy Back $200M in Shares

NEW YORK (GenomeWeb News) – Myriad Genetics announced after the close of the market on Monday that its board has approved a new $200 million stock repurchase program.

The board had previously approved a $100 million stock buyback program in March.

Repurchases under the new program will be made through open market or privately negotiated purchases. The amount and timing of the repurchases will depend on a number of factors including business and market conditions, trading restrictions, acquisition activity, and stock price, the Salt Lake City company said.

As of June 30, Myriad had more than $417 million in cash, cash equivalents, and marketable securities.

The Scan

Drug Response Variants May Be Distinct in Somatic, Germline Samples

Based on variants from across 21 drug response genes, researchers in The Pharmacogenomics Journal suspect that tumor-only DNA sequences may miss drug response clues found in the germline.

Breast Cancer Risk Gene Candidates Found by Multi-Ancestry Low-Frequency Variant Analysis

Researchers narrowed in on new and known risk gene candidates with variant profiles for almost 83,500 individuals with breast cancer and 59,199 unaffected controls in Genome Medicine.

Health-Related Quality of Life Gets Boost After Microbiome-Based Treatment for Recurrent C. Diff

A secondary analysis of Phase 3 clinical trial data in JAMA Network Open suggests an investigational oral microbiome-based drug may lead to enhanced quality of life measures.

Study Follows Consequences of Early Confirmatory Trials for Accelerated Approval Indications

Time to traditional approval or withdrawal was shorter when confirmatory trials started prior to accelerated approval, though overall regulatory outcomes remained similar, a JAMA study finds.