Multiple Myeloma Therapeutics Market Expected to Reach $4.26 Billion in 2030

FinancialNewsMedia.com News Commentary 

PALM BEACH, FL, Oct. 17, 2023 /PRNewswire/ -- Multiple myeloma is a type of cancer that affects plasma cells, which are a type of white blood cell that produces antibodies to fight infections. The US multiple myeloma therapeutics market is a growing market due to the increasing prevalence of multiple myeloma and the development of new therapies. The growth of the market is driven by factors such as an aging population, increasing prevalence of multiple myeloma, and advancements in the development of new therapies. The introduction of new therapies such as immunomodulatory drugs (IMiDs) and proteasome inhibitors has revolutionized the treatment of multiple myeloma.  A report from Insights10 projected that the U.S. Multiple Myeloma Therapeutics Market was valued at $3.5 Billion in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 2.5% from 2022 to 2030 and will reach $4.26 Billion in 2030.  Active companies in the markets this week include: Telo Genomics Corp. (OTCQB: TDSGF) (TSXV: TELO), Guardant Health, Inc. (NASDAQ: GH), Natera, Inc. (NASDAQ: NTRA), Quest Diagnostics Incorporated (NYSE: DGX), NeoGenomics, Inc. (NASDAQ: NEO).

The report said: "The cost of multiple myeloma therapies is high, and the cost of newer therapies such as monoclonal antibodies and CAR T-cell therapy is even higher. This limits the affordability of these therapies for many patients, leading to barriers in access to treatment. The treatment of multiple myeloma is complex and often requires a combination of therapies, including chemotherapy, radiation therapy, stem cell transplantation, and targeted therapies. This complexity can lead to challenges in treatment planning and management, as well as potential side effects and complications. Many multiple myeloma therapies have adverse side effects, including anemia, fatigue, neuropathy, and gastrointestinal problems. These side effects can impact the quality of life for patients and limit the effectiveness of therapies. Despite significant advancements in the development of new therapies, some patients may not respond to treatment or may develop resistance to therapies. This limits the efficacy of existing therapies and highlights the need for continued research and development of new treatments. The US multiple myeloma therapeutics market is highly regulated, with strict requirements for drug approval and pricing. This can lead to delays in the approval of new therapies and challenges in pricing and reimbursement for existing therapies."

Telo Genomics Corp. (OTCQB: TDSGF) (TSXV: TELO) BREAKING NEWS:  Telo Genomics Announces Clinical Launch of Non-Invasive Cancer Diagnostic, TeloViewSMM – An Important Commercial Milestone Achieved - TeloView Analyses Telomeres to Accurately Predict and Characterize Multiple Myeloma -  Telo Genomics Corp. (the "Company" or "Telo") today announced the launch of its TeloViewSMM to clinicians in the United States.

Combining molecular biology and artificial intelligence, the diagnostic platform performs industry leading 6-factor quantitative analysis of 3D telomeres, the protective end caps of chromosomes.

TeloView has the potential to characterize multiple cancers, identify their current level of genomic instability and therefore predict their progression. 

The Company's initial clinical launch will focus on testing for "Smoldering Multiple Myeloma (SMM)" the precursor for Multiple Myeloma, a blood-based bone marrow cancer. Approximately 50% of patients with SMM will develop full Multiple Myeloma.

The test is available for physicians to order under the SMART (Smoldering Multiple myeloma Assessment of Risk for Transformation) protocol, an observational study intended for oncology/hematology physicians and their staff in the U.S., to gain experience ordering and utilizing the TeloViewSMM assay. SMART follows a positive industry trend toward introducing novel molecular testing tools in an observational construct to efficiently gather information and feedback from clinicians and their teams.

"The commercial launch of our flagship TeloView platform is a major milestone for our Company" stated Telo Genomics' CEO Kris Weinberg. "I am extremely proud of our entire team who have put forth a tremendous effort over many years in the development of our platform. Our presentations at this year's International Myeloma Society ("IMS") annual meeting and the American Society of Clinical Oncology's annual meeting were received very positively and have generated many leads for our new assay. We are also very active in discussions with platform partners and in the development of new tests in additional applications."

While the initial launch of TeloViewSMM will be conducted as a single-site CLIA (Clinical Laboratory Improvement Amendments) model, commercial-scale delivery of testing will be accomplished in partnership with large reference labs where FISH and microscopy resources are available and scalable. The company is also developing products and use cases for the biopharma and CRO segment and has an active business development pipeline focused on CDx opportunities and contract research. CONTINUED… Read this full press release and more news for Telo Genomics at:  https://www.financialnewsmedia.com/news-telo/

Other recent developments in the markets of note include:

Guardant Health, Inc. (NASDAQ:GH), a leading precision oncology company, recently announced that Geisinger Health Plan now offers coverage for the Guardant Reveal™ minimal residual disease (MRD) test. Guardant Reveal is a blood test that detects circulating tumor DNA (ctDNA) in blood after treatment, including surgery, to help oncologists identify cancer patients with residual or recurring disease who may benefit most from adjuvant therapy or surveillance. It is the first blood-only liquid biopsy test commercially available for MRD testing.

Geisinger is providing coverage for the Guardant Reveal test for individuals with stage II or III colorectal cancer after curative treatment (including surgery) to inform physician decisions about post-treatment therapy and to monitor for disease progression, recurrence or relapse. The frequency of testing covered is aligned with monitoring guidelines established by the National Comprehensive Cancer Network for colorectal cancer. It includes the initial ctDNA test 4 to 6 weeks after surgery (or 2 to 4 weeks after completion of systemic therapy) and thereafter every 3 to 6 months for the first two years, and every 6 to 12 months for the following 3 years.

Natera, Inc. (NASDAQ: NTRA), a global leader in cell-free DNA testing, recently announced it will present new data on its personalized and tumor-informed molecular residual disease (MRD) test, Signatera, at the 2023 European Society for Medical Oncology (ESMO) Congress, taking place Oct. 20-24 in Madrid, Spain.

Natera and its collaborators will present MRD data in a total of seven abstracts, including a mini-oral and several poster presentations. The mini-oral presentation will feature an updated analysis of more than 2,000 patients from the GALAXY observational arm of the CIRCULATE-Japan trial, one of the largest and most comprehensive prospective studies of MRD testing in resectable colorectal cancer (CRC). Other presentations will highlight new Signatera data in rectal cancer, appendiceal adenocarcinoma, hepatocellular carcinoma, renal cell carcinoma, and other solid tumors.

Quest Diagnostics Incorporated (NYSE: DGX), the world's leading provider of diagnostic information services, recently announced that it will report third quarter 2023 financial results on Tuesday, October 24, 2023, before the market opens. It will hold its quarterly conference call to discuss the results beginning at 8:30 a.m. Eastern Timeon that day.

The conference call can be accessed by dialing 888-455-0391 within the U.S. and Canada, or 773-756-0467 internationally, using the passcode: "7895081." The earnings release and live webcast will be posted on www.QuestDiagnostics.com/investor. The company suggests participants dial in approximately 10 minutes before the call.

A replay of the call may be accessed online at www.QuestDiagnostics.com/investor or by phone at 800-945-5759 for domestic callers or 203-369-3502 for international callers; no passcode is required. Telephone replays will be available from approximately 10:30 a.m. Eastern Time on October 24, 2023 until midnight Eastern Time on November 7, 2023.

NeoGenomics, Inc. (NASDAQ: NEO), a leading oncology testing services company, recently announced that the Molecular Diagnostics Services Program (MolDx) has conveyed coverage for the RaDaR® assay, a personalized liquid biopsy for minimal residual disease (MRD) and recurrence detection.

Following this decision, effective as of March 24, 2023, the RaDaR assay is now covered for fee-for-service Medicare patients within the United States with hormone receptor-positive (HR+), human epidermal growth factor receptor 2-negative (HER2-) breast cancer. The coverage includes patients with a personal history of high-risk stage II/III HR+/HER2- breast cancer, five or more years from diagnosis who presently do not have evidence of disease.

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