June 30, 2008

Dr. Ronald Petersen of the Mayo Clinic: "There are many other alternatives in the pipeline that show promise."

SALT LAKE CITY, UTAH - Myriad Genetics, Inc. today announced results of the Act-Earli-AD trial, an 18-month Phase 3 study of Flurizan (tarenflurbil) in patients with mild Alzheimer's disease. The study did not achieve statistical significance on either of its primary endpoints -- cognition and activities of daily living.

This was a sudden turn of events for Flurizan. Not long ago, Alzheimer's Weekly noted a number of indicators that Flurizan was looking strong, including a $100,000,000 payment for Flurizan's European rights by the Lundbeck corporation in May 2008, Flurizan being in Phase III of the clinical trial process, and the expensive preparations that were in progress for another large Phase III trial at 90 sites around the world.

"We are disappointed that Flurizan failed to achieve significance in this study, and we will now discontinue development of this compound," said Peter Meldrum, President and Chief Executive Officer of Myriad Genetics, Inc. "The discontinuation of Flurizan will reduce our pharmaceutical development spend substantially and should enable Myriad to achieve profitability next year, ending June 30, 2009."

During fiscal 2008, Myriad spent approximately $60 million on development of Flurizan. The remaining expenses to wrap up its Flurizan program are projected to be approximately $8 million in total, spread primarily over the next two fiscal quarters.

Scientists are optimistic that even with Flurizan's demise, a plausible treatment will emerge soon.

Dr. Ronald Petersen, director of the Alzheimer's Disease Treatment Center at the Mayo Clinic in Rochester, Minn., agrees and says, "There are many other alternatives in the pipeline that show promise."

BY:

Peter Berger, Alzheimer's Weekly

Reviewed for medical accuracy by
Dr. Boaz Ancselovic, MD, Geriatrician, Alzheimer's Weekly

SOURCE:

Myriad Genetics Inc.

ABC News, "Hopes Dashed for Alzheimer's Drug," by Allyson T. Collins. July 2, 2008

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