It would appeal a judge's ruling invalidating its patents on gene sequences linked to breast cancer and ovarian cancer, Utah-based Myriad Genetics Inc. has said.

Peter Meldrum, president and chief executive officer of Myriad, told The Salt Lake Tribune, "We're confident the court of appeals will reverse this decision and uphold the patent claims."

But he did not expect a significant impact on the company's operations or earnings, Meldrum said.

The day after the ruling, the company's stock fell 4.82 percent a share Tuesday, closing at $23.70.

The New York U. S. District Court judge's ruling will have an impact on seven of Myriad's 23 patents and 15 of 179 areas covered by the company's patents, Meldrum further said.

He predicted the ruling, if it stands on appeal, could have far-reaching implications on the biotechnology industry, especially for start-up companies that need patent protections to attract investment for research and development.

Meldrum also said, "If the federal circuit court upholds this decision it, unfortunately I think, would be very bad for the biotech industry."

The judge ruled in a legal challenge to the patents by the American Civil Liberties Union, Public Patent Foundation, researchers and several women with breast or ovarian cancer.

Daniel B. Ravicher, executive director of the foundation, said in a statement, "The court correctly saw that companies should not be able to own the rights to a piece of the human genome. No one invented genes. Inventions are specific tests or drugs, which can be patented, but genes are not inventions." (With Inputs from Agencies)