March 11 Diagnostics company Myriad Genetics Inc
said a U.S. court denied a motion that would have
stopped rival Ambry Genetics Corp from selling a similar version
of Myriad's cancer test.
Myriad's shares fell 12 percent in before the bell on
The company had filed a complaint against Ambry in the U.S.
District Court of Utah last July, alleging that Ambry's tests
infringed some of its patents.
Myriad has been seeking a preliminary injunction to prevent
Ambry from selling the tests, pending final decision on the
Myriad said it believed its patents were valid, enforceable
and infringed, and was confident that it would prevail based on
the full evidence.
A trial date has not been scheduled, Myriad said in a
Myriad shares were down 12 percent at $33.21 in trading
before the bell.