Welcome to our dedicated page for Myriad Genetics news (Ticker: MYGN), a resource for investors and traders seeking the latest updates and insights on Myriad Genetics stock.
Overview of Myriad Genetics
Myriad Genetics (MYGN) is a molecular diagnostics and precision medicine company that develops advanced genetic tests to evaluate the risk of developing disease, diagnose existing conditions, and inform treatment strategies. Employing state-of-the-art techniques in DNA sequencing and RNA analysis, Myriad’s comprehensive portfolio spans multiple medical specialties, including oncology, hereditary cancer assessment, pharmacogenomics, and prenatal screening. By combining molecular diagnostic insights with clinical expertise, the company aims to provide actionable information to clinicians and empower patients with personalized health assessments.
Core Business Areas
Myriad Genetics is organized around several key business areas that collectively address the needs of patients and healthcare providers:
- Hereditary Cancer Testing: Utilizing genetic panels that assess multiple genes associated with hereditary cancer risk, the company helps determine an individual's predisposition to various cancers. These tests integrate family health history and clinical factors to offer risk estimates that can guide preventive care and early intervention strategies.
- Oncology Diagnostics: Through innovative tumor profiling and genomic tests, Myriad provides detailed insights into tumor biology. This supports clinicians in making treatment decisions by identifying prognostic markers and potential therapeutic targets and ensuring that precision oncology solutions are accessible at critical points in the patient care journey.
- Pharmacogenomics: The company offers diagnostic tests that assess genetic influences on drug metabolism and responsiveness. This information is vital in optimizing treatment regimens, particularly in mental health and other therapeutic areas, where individual genetic variability can dramatically impact medication efficacy and safety.
- Prenatal and Reproductive Health: Myriad has developed noninvasive prenatal tests that provide early insights into fetal development and genetic risks, thereby supporting informed decisions during pregnancy and enhancing overall reproductive care.
Innovative Technology and Industry Expertise
At its core, Myriad Genetics leverages proprietary molecular diagnostic platforms that combine high-throughput sequencing with refined bioinformatics. This approach enables the detection of subtle genetic variations and the quantification of low-level tumor signals, a critical factor in early disease detection and therapeutic monitoring. The company collaborates closely with leading academic institutions and clinical research centers to validate its tests rigorously and ensure that its offerings meet high standards of accuracy and clinical utility.
Market Position and Strategic Collaborations
Operating in an evolving genomic medicine landscape, Myriad Genetics has established itself as an important contributor to the field. Its diverse product portfolio and collaborative initiatives help solidify its competitive position. The company partners with healthcare systems, pharmaceutical companies, and digital pathology providers to integrate its diagnostic tools into streamlined clinical workflows. This strategic approach enables faster, more reliable access to genomic insights with the goal of lowering healthcare costs and improving patient outcomes.
Commitment to Quality and Patient-Centered Solutions
Myriad Genetics places a strong emphasis on delivering clear, actionable, and expert-reviewed diagnostic information. By offering customizable workflow solutions and comprehensive support for the interpretation of genetic data, the company acts as a trusted advisor to both clinicians and patients. Its rigorous quality control, combined with continuous research and clinical validation, underscores the company’s dedication to advancing personalized medicine.
Conclusion
Through a focus on innovative genetic testing and precision medicine, Myriad Genetics enhances the diagnostic process from risk assessment to treatment guidance. The company’s expertise in molecular diagnostics and its commitment to integrating cutting-edge technology with clinical insights position it as a critical contributor in an industry dedicated to improving patient care and transforming healthcare delivery.
Myriad Genetics (NASDAQ: MYGN) announced equity inducement awards for their newly appointed chief commercial officer, Mr. Donnelly. The compensation package includes:
- Total restricted stock units worth $3.75 million
- $2 million in time-based RSUs vesting equally over 4 years
- $1.75 million in performance-based PSUs tied to stock price targets
The exact number of units will be determined based on MYGN's closing price on April 30, 2025. The PSUs will vest in 25% increments upon reaching specific stock price milestones, with no vesting possible before the first employment anniversary. These awards were granted under Nasdaq Listing Rule 5635(c)(4) as material inducement for employment.
Myriad Genetics (NASDAQ: MYGN) has appointed Brian Donnelly as its new Chief Commercial Officer (CCO), effective May 1, 2025. Donnelly brings over 20 years of experience in healthcare, diagnostics, and medical technology, with a history of managing multi-billion-dollar P&Ls and driving growth through innovative strategies.
The appointment was announced by Sam Raha, incoming president and CEO, who highlighted Donnelly's strategic vision and operational excellence. Prior to joining Myriad, Donnelly held senior commercial and general management positions at Ancestry, Amazon, and Illumina, where he successfully drove business growth across global markets and product lines.
Myriad Genetics (NASDAQ: MYGN) has announced a collaboration with Gabbi, a telehealth provider specializing in breast cancer risk assessment. The partnership will integrate Gabbi's telehealth risk assessment program and specialist care services with Myriad's MyRisk® with RiskScore® Hereditary Cancer Test.
Through this collaboration, Gabbi's platform will provide logistics and educational support for breast cancer risk assessment, connecting high-risk patients with clinicians for evaluation using the MyRisk test. The test's precision science enables 53% of patients to qualify for medical management changes, such as increased frequency of mammograms or MRI imaging.
Myriad Genetics (NASDAQ: MYGN) announced key leadership changes effective April 30, 2025. Sam Raha, the current COO, will become President and CEO, replacing Paul J. Diaz, who is stepping down to join Cressey & Company as Managing Partner. Diaz will continue as a consultant to Raha and the Board for one year.
Additionally, Mark S. Verratti, currently Chief Commercial Officer, will be promoted to COO concurrent with Raha's appointment. The company has initiated a search for a new CCO.
Raha, who joined Myriad in December 2023, has been instrumental in shaping the company's long-term growth strategy and operational excellence. The Board's decision follows a robust succession planning process, emphasizing Raha's deep diagnostics industry experience as important for Myriad's continued growth in molecular diagnostics testing and precision medicine.
Myriad Genetics (NASDAQ: MYGN) reported fourth quarter 2024 revenue of $211 million, up 7% year-over-year, and full-year revenue of $838 million, representing 11% growth. The company achieved strong performance in Pharmacogenomics (14% growth) and Prenatal testing (12% growth).
Q4 GAAP gross margin improved to 71.7%, up 300 basis points year-over-year. However, the company reported Q4 and full-year 2024 GAAP net losses of $(43) million and $(127) million respectively. Adjusted EBITDA was $11 million for Q4 and $40 million for the full year.
The company announced a strategic collaboration with PATHOMIQ for AI technology in prostate cancer diagnostics and reiterated its 2025 guidance with revenue of $840-860 million and adjusted EPS of $0.07-$0.11. Additionally, COO Sam Raha will succeed Paul J. Diaz as CEO effective April 30, 2025.
Myriad Genetics (NASDAQ: MYGN) has entered into a strategic collaboration with PATHOMIQ to exclusively license PATHOMIQ_PRAD, an AI technology platform for prostate cancer, in the United States. The partnership enhances Myriad's Oncology Solutions by combining molecular and AI-powered testing capabilities to inform treatment decisions for prostate cancer patients.
PATHOMIQ_PRAD's AI model delivers results within 1-2 days of receiving digital images and has demonstrated high prediction accuracy in both Caucasian and African American patient cohorts. The platform complements Myriad's existing Prolaris® Prostate Cancer Prognostic Test and can predict disease recurrence after initial therapy.
The collaboration aims to accelerate achieving Simon level 1 evidence for both tests. While currently specific for post-surgical prostate cancer patients, the foundational model has potential applications across all solid tumor cancers diagnosed through H&E staining biopsies. Myriad plans to launch its first AI-driven prostate cancer clinical test later in 2025.
Myriad Genetics (NASDAQ: MYGN) has been recognized on the Forbes America's Best Employers 2025 list, a distinction determined through collaboration with Statista. The selection process involved an independent survey of over 217,000 U.S. employees from companies with 1,000+ employees, considering more than 6.5 million employer evaluations.
The company's strong workplace culture is evidenced by its employee satisfaction rates, with 84% of employees rating it as a Great Place To Work — surpassing the U.S. company average by 27 percentage points. The final rankings were based on both personal evaluations from employees and public feedback from industry professionals and employee connections, with greater emphasis placed on direct employee assessments.
Chief People Officer Shereen Solaiman highlighted the company's commitment to innovation and employee empowerment in advancing health and wellbeing solutions.
Myriad Genetics (NASDAQ: MYGN) has scheduled its fourth quarter and full year 2024 earnings release for February 24, 2025, after market close, with a conference call at 4:30 pm ET the same day. During the call, management will discuss the company's financial performance and provide a business update.
The company has also announced participation in three upcoming healthcare investor conferences in March 2025:
- TD Cowen 45th Annual Health Care Conference (March 4)
- Raymond James 46th Annual Institutional Investors Conference (March 4)
- Leerink Global Healthcare Conference (March 10)
Myriad Genetics (NASDAQ: MYGN) has announced a partnership with INTERLINK Care Management's CancerCARE for Life to expand access to hereditary cancer testing. The agreement will enable over one million CancerCARE network members to assess their eligibility for the MyRisk test through the MyGeneHistory quiz.
The MyRisk with RiskScore Hereditary Cancer Test evaluates 48 genes associated with hereditary cancer risk across 11 different cancers. The test combines family history and clinical factors like breast density to provide patients with a five-year and lifetime breast cancer risk assessment. Eligible patients who meet the criteria can be connected with clinicians to order the test and review results with Myriad genetic counselors.
Myriad Genetics (NASDAQ: MYGN) has been granted two new patents by the United States Patent and Trademark Office for its molecular residual disease (MRD) assay technology. The first patent (No. 12,215,391) covers proprietary automated methods of MRD analysis, specifically focusing on automation systems interfacing with laboratory equipment. The second patent (No. 12,215,392) relates to patient journey aspects of MRD, covering methods performed before, during, or after treatment, or during remission.
These patents follow three earlier patents awarded in 2024 for foundational platform MRD technology and cell-free DNA preparation methods. The company's Precise® MRD test is designed to determine treatment effectiveness and cancer recurrence. The test is currently under evaluation in several studies and has completed transition to Myriad's Salt Lake City laboratory facility.
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