Yahoo Finance Illumina (ILMN) to Present Real-World CGP Data at ASCO Meet '23
Illumina, Inc. ILMN recently announced the latest data on the impact of comprehensive genomic profiling (CGP) on oncology patients. The data will be presented at the American Society of Clinical Oncology's (“ASCO”) Annual Meeting in Chicago, to be held on Jun 2-6.
In addition to the real-world study data, Illumina will present findings that expose gaps in the current standard of care and unmet needs for cancer patients.
Significance of CGP
As the number and complexity of targetable variants in advanced cancers have increased, CGP has become the standard of care. By collaborating with leaders in oncology, Illumina is set to present compelling real-world evidence that, which demonstrates improved survival in cancer patients who received CGP testing and targeted therapy compared to standard chemotherapy.
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Despite CGP being increasingly included in care guidelines, its inconsistent application creates a major gap in the standard-of-care practice for advanced cancer. To understand the benefits of more consistent use of CGP, Providence, a not-for-profit health system serving the Western United States, implemented a reflex testing protocol where CGP was routinely ordered by pathologists at the time of diagnosis for advanced cancer patients. The study abstract will be presented at the ASCO Annual Meeting.
Illumina will also present two posters illustrating gaps in the current testing practices and a study indicating that a large percentage of cancer patients who are eligible for biomarker testing are not receiving any genomic testing whatsoever.
Small-panel genomic assays that test key cancer-related biomarkers remain part of routine care in oncology in some regions. However, a descriptive analysis of the guideline found that nearly all commercially available small panels miss at least one biomarker recommended in the clinical practice guideline.
Industry Prospects
Per a Research report, the global genomics market size was valued at $28.1 billion in 2022 and is expected to witness a CAGR of 16.5% up to 2030.
Recent Developments
Earlier in April 2023, Illumina and the Detroit-based not-for-profit healthcare organization Henry Ford Health, announced a partnership to assess the impact of comprehensive genomic testing on cardiovascular diseases. The first study under this partnership, CardioSeq, includes 1,500 patients receiving care from the Division of Cardiovascular Medicine at Henry Ford.
In the same month, Illumina announced that it received the international privacy certification for six of its cloud-based informatics programs. This recognizes the company’s compliance with robust, international data privacy requirements.
Price Performance
In the past six months, Illumina has mostly outperformed its industry. Shares of the company have decreased 11.9% compared with the industry’s decline of 13.5%.
Zacks Rank and Key Picks
Illumina currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the overall healthcare sector are Penumbra PEN, Lantheus LNTH and Neuronetics STIM. While Penumbra and Lantheus each sport a Zacks Rank #1 (Strong Buy), Neuronetics carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Penumbra’s stock has risen 120% in the past year. The Zacks Consensus Estimate for Penumbra’s earnings per share (EPS) has increased from $1.25 to $1.56 for 2023 and from $2.33 to $2.56 for 2024 in the past 30 days.
PEN’s earnings beat estimates in each of the trailing four quarters, the average surprise being 109.42%. In the last reported quarter, the company registered an earnings surprise of 109.09%.
The Zacks Consensus Estimate for Lantheus’ 2023 EPS has increased from $4.98 to $5.60 in the past 30 days. Shares of the company have improved 26.7% in the past year against the industry’s 32.2% decline.
LNTH’s earnings beat estimates in each of the trailing four quarters, the average surprise being 25.77%. In the last reported quarter, the company recorded an earnings surprise of 13.95%.
Estimates for Neuronetics’ loss per share have narrowed from $1.32 to $1.29 for 2023 in the past 30 days. Shares of the company have risen 3% in the past year compared with the industry’s 0.8% growth.
STIM’s earnings beat estimates in each of the trailing four quarters, the average surprise being 19.61%. In the last reported quarter, Neuronetics delivered an earnings surprise of 2.56%.
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