Fly News Breaks for January 28, 2020
Jan 28, 2020 | 09:55 EDT
Cowen analyst Doug Schenkel, in partnership with macro policy analyst Eric Assaraf, noted that CMS finalized more flexible Medicare coverage for Next Generation Sequencing, or NGS, according to a final National Coverage Determination notice released after the close on Monday. The updated NCD removes the prior restrictions on germline testing for breast and ovarian cancer and more explicitly covers FDA-approved tests regardless of cancer stage, noted Schenkel, who called the news a positive development for Invitae (NVTA) and added that he believes there is limited impact on Myriad Genetics (MYGN). Schenkel has an Outperform rating on Invitae shares and a Market Perform rating on Myriad.
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