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Thermo Fisher (TMO) Inks New Partnership for myeloMATCH Trial
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Thermo Fisher Scientific Inc. (TMO - Free Report) recently announced a partnership with the National Cancer Institute (“NCI”) for the myeloMATCH (Molecular Analysis for Therapy Choice) precision medicine umbrella trial.
Under the trial, patients’ bone marrow and blood will be tested for certain genetic biomarkers using Thermo Fisher’s next-generation sequencing (“NGS”) technology. With this, clinical sites can quickly match patients with an appropriate clinical trial that tests a treatment designed to target specific mutations present in the samples.
The collaboration aims to accelerate research regarding new treatments for Acute Myeloid Leukemia (“AML”) and Myelodysplastic Syndrome (“MDS”).
About myeloMATCH Trial Program
myeloMATCH assembles a portfolio of sub-studies to treat patients with specific subtypes of AML and MDS through all stages of their treatment journey.
Patient samples will be sequenced in the myeloMATCH Molecular Diagnostics Laboratory Network using the Ion Torrent Genexus System and reagents along with the Oncomine-based NCI Myeloid Assay to assign participants to myeloMATCH treatment studies.
The Genexus system clinical teams across sites can quickly match eligible patients with the right trials to ultimately better understand the clinical impact of these therapies.
Significance of the Partnership
The trial aims at completing genomic testing and delivering complete results within a few days across testing modalities to help quickly enroll patients into specific sub-studies based on their biomarker profile at the time of diagnosis. Then, the first completely ready NGS solution will automate the specimen-to-report workflow design and deliver results within a day with just two user touchpoints.
By conducting multiple treatment sub-studies specific to genomic types, the myeloMATCH trial will help accelerate the development of promising new therapies.
Additionally, the NCI’s Division of Cancer Treatment and Diagnosis has developed cooperative research and development agreements with many pharmaceutical companies that will provide different drugs to support myeloMATCH trials.
More on the News
The myeloMATCH trial will be open in the U.S. and Canadian sites of the NCI National Clinical Trials Network, which includes more than 2,200 sites.
Image Source: Zacks Investment Research
The myeloMATCH trial program, including the use of the Ion Torrent Genexus system and Oncomine technology for the NCI Myeloid Assay, has received Investigational Device Exemption and Investigational New Drug authorization from the FDA.
Market Prospects
Per a report from Mordor Intelligence, the NGS market is estimated at $10.47 billion in 2024 and is expected to reach $19.66 billion by 2029, witnessing a CAGR of 13.43% during the period. Primary factors, including the increasing applications in clinical diagnosis and speed, cost and accuracy, along with the enhanced efficiency when compared with traditional technologies such as microarrays and the rising number of drug discovery applications, are expected to accelerate market growth.
Considering the market potential, TMO’s latest partnership for the myeloMATCH trialis strategically timed.
Other Notable Developments
In June 2024, the company was part of several developments, including the introduction of biobased films to help reduce climate impact in the manufacturing of therapies. The biobased films build on the company’s existing Aegis and CX film offerings that are widely used and validated by customers. Along with this, the company also launched Heracell VIOS 250i AxD CO2 Incubators to support the future implementation of workflow automation in cell therapy production.
Additionally, Thermo Fisher opened a new clinical and commercial ultra-cold facility in the European Union , thereby expanding its clinical trial network in Europe to help accelerate the development of advanced therapies.
Price Performance
In the past year, TMO shares have risen 3.4% against the industry’s 4.9% decline.
Zacks Rank and Other Key Picks
Thermo Fisher currently carries a Zacks Rank #2 (Buy).
The Hims & Hers Heath stock has surged 142.8% in the past year. Estimates for the company’s 2024 earnings have moved north 10% to 20 cents per share in the past 30 days.
HIMS’ earnings beat estimates in three of the trailing four quarters and missed in one, delivering an average surprise of 79.2%. In the last reported quarter, it posted an earnings surprise of 150%.
Estimates for Medpace’s 2024 earnings per share (EPS) have remained unchanged at $11.29 in the past 30 days. Shares of the company have gained 79.9% in the past year compared with the industry’s 4.9% growth.
MEDP’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 12.8%. In the last reported quarter, it delivered an earnings surprise of 30.6%.
Estimates for Haemonetics’ 2024 EPS have increased 0.4% to $4.57 in the past 30 days. In the past year, shares of HAE have risen 4.4% against the industry’s 4.9% decline.
In the last reported quarter, HAE delivered an earnings surprise of 2.27%. The company has a trailing four-quarter average earnings surprise of 13.24%.
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Thermo Fisher (TMO) Inks New Partnership for myeloMATCH Trial
Thermo Fisher Scientific Inc. (TMO - Free Report) recently announced a partnership with the National Cancer Institute (“NCI”) for the myeloMATCH (Molecular Analysis for Therapy Choice) precision medicine umbrella trial.
Under the trial, patients’ bone marrow and blood will be tested for certain genetic biomarkers using Thermo Fisher’s next-generation sequencing (“NGS”) technology. With this, clinical sites can quickly match patients with an appropriate clinical trial that tests a treatment designed to target specific mutations present in the samples.
The collaboration aims to accelerate research regarding new treatments for Acute Myeloid Leukemia (“AML”) and Myelodysplastic Syndrome (“MDS”).
About myeloMATCH Trial Program
myeloMATCH assembles a portfolio of sub-studies to treat patients with specific subtypes of AML and MDS through all stages of their treatment journey.
Patient samples will be sequenced in the myeloMATCH Molecular Diagnostics Laboratory Network using the Ion Torrent Genexus System and reagents along with the Oncomine-based NCI Myeloid Assay to assign participants to myeloMATCH treatment studies.
The Genexus system clinical teams across sites can quickly match eligible patients with the right trials to ultimately better understand the clinical impact of these therapies.
Significance of the Partnership
The trial aims at completing genomic testing and delivering complete results within a few days across testing modalities to help quickly enroll patients into specific sub-studies based on their biomarker profile at the time of diagnosis. Then, the first completely ready NGS solution will automate the specimen-to-report workflow design and deliver results within a day with just two user touchpoints.
By conducting multiple treatment sub-studies specific to genomic types, the myeloMATCH trial will help accelerate the development of promising new therapies.
Additionally, the NCI’s Division of Cancer Treatment and Diagnosis has developed cooperative research and development agreements with many pharmaceutical companies that will provide different drugs to support myeloMATCH trials.
More on the News
The myeloMATCH trial will be open in the U.S. and Canadian sites of the NCI National Clinical Trials Network, which includes more than 2,200 sites.
Image Source: Zacks Investment Research
The myeloMATCH trial program, including the use of the Ion Torrent Genexus system and Oncomine technology for the NCI Myeloid Assay, has received Investigational Device Exemption and Investigational New Drug authorization from the FDA.
Market Prospects
Per a report from Mordor Intelligence, the NGS market is estimated at $10.47 billion in 2024 and is expected to reach $19.66 billion by 2029, witnessing a CAGR of 13.43% during the period. Primary factors, including the increasing applications in clinical diagnosis and speed, cost and accuracy, along with the enhanced efficiency when compared with traditional technologies such as microarrays and the rising number of drug discovery applications, are expected to accelerate market growth.
Considering the market potential, TMO’s latest partnership for the myeloMATCH trialis strategically timed.
Other Notable Developments
In June 2024, the company was part of several developments, including the introduction of biobased films to help reduce climate impact in the manufacturing of therapies. The biobased films build on the company’s existing Aegis and CX film offerings that are widely used and validated by customers. Along with this, the company also launched Heracell VIOS 250i AxD CO2 Incubators to support the future implementation of workflow automation in cell therapy production.
Additionally, Thermo Fisher opened a new clinical and commercial ultra-cold facility in the European Union , thereby expanding its clinical trial network in Europe to help accelerate the development of advanced therapies.
Price Performance
In the past year, TMO shares have risen 3.4% against the industry’s 4.9% decline.
Zacks Rank and Other Key Picks
Thermo Fisher currently carries a Zacks Rank #2 (Buy).
Other top-ranked stocks in the broader medical space are Hims & Hers Health, Inc. (HIMS - Free Report) , Medpace Holdings (MEDP - Free Report) and Haemonetics (HAE - Free Report) . While Hims & Hers Health and Haemonetics sport a Zacks Rank#1 (Strong Buy) each, Medpace carries a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Hims & Hers Heath stock has surged 142.8% in the past year. Estimates for the company’s 2024 earnings have moved north 10% to 20 cents per share in the past 30 days.
HIMS’ earnings beat estimates in three of the trailing four quarters and missed in one, delivering an average surprise of 79.2%. In the last reported quarter, it posted an earnings surprise of 150%.
Estimates for Medpace’s 2024 earnings per share (EPS) have remained unchanged at $11.29 in the past 30 days. Shares of the company have gained 79.9% in the past year compared with the industry’s 4.9% growth.
MEDP’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 12.8%. In the last reported quarter, it delivered an earnings surprise of 30.6%.
Estimates for Haemonetics’ 2024 EPS have increased 0.4% to $4.57 in the past 30 days. In the past year, shares of HAE have risen 4.4% against the industry’s 4.9% decline.
In the last reported quarter, HAE delivered an earnings surprise of 2.27%. The company has a trailing four-quarter average earnings surprise of 13.24%.