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Fly News Breaks for February 27, 2017
VCYT, MYGN
Feb 27, 2017 | 14:01 EDT
As previously reported, Piper Jaffray analyst William Quirk noted that an industry blog uncovered that the Centers for Medicare and Medicaid Services has instructed all Medicare Administrative Contractors to not post new or revised Local Coverage Determinations, or LCDs, until further notice. He points out that Myriad Genetics (MYGN) has two draft LCDs outstanding - a positive one expanding Prolaris coverage and a negative one rescinding Vectra DA coverage. He sees the LCDs at risk for a temporary delay, which he views as net-positive for Myriad. In his re-issued note to investors, Quirk pointed out that a prior version mistakenly said Veracyte's (VCYT) Percepta LCD was a draft, noting in correction that the LCD was finalized in early February.
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