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.
Myriad Genetics Inc. (NASDAQ: MYGN) is a pioneering company in the field of personalized medicine, dedicated to transforming patient lives worldwide with advanced molecular diagnostics. With a mission to be a trusted advisor in health, Myriad Genetics excels in discovering and commercializing diagnostic tests that:
- Determine the risk of developing various diseases
- Accurately diagnose existing conditions
- Assess the risk of disease progression
- Guide treatment decisions across six major medical specialties
Among its notable products are:
- MyRisk: A 48-gene panel capable of identifying elevated risks for 11 types of cancer.
- BRACAnalysis CDx: FDA-approved companion diagnostic for PARP inhibitors.
- GeneSight: Helps optimize psychotropic drug responses for patients with depression.
- Prequel: A noninvasive prenatal test.
Myriad Genetics is also renowned for Precise Oncology Solutions, launched in 2022, which integrates Precise Tumor with companion diagnostic and prognostic tests such as MyChoice CDx, Prolaris, and EndoPredict.
The company focuses on three strategic imperatives:
- Leadership in hereditary cancer market
- Diversification of product portfolio through new introductions
- International market expansion
Recent achievements include restructuring European operations to better align resources domestically while partnering internationally. This strategy includes agreements with Eurobio Scientific for the sale and licensing of EndoPredict and Prolaris outside the U.S.
Financially, Myriad Genetics reported a strong first quarter in 2024, with double-digit revenue growth, significant reduction in net loss, and positive adjusted EBITDA. The company attributes its success to gains in its hereditary cancer and prenatal testing markets, expanded coverage, and improvements in revenue cycle management.
Key recent developments and upcoming events include:
- Participation in four upcoming healthcare investor conferences
- Sharing data from seven studies at the 2024 ASCO Annual Meeting
- Introduction of the Universal Plus Panel to its Foresight® Carrier Screen
To stay informed about Myriad Genetics’ continuous advancements and contributions to healthcare, visit www.myriad.com.
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.
Myriad Genetics (NASDAQ: MYGN) and Lumea Inc. have announced a collaboration to integrate Myriad's molecular diagnostic tests - Prolaris Prostate Cancer Test and MyRisk Hereditary Cancer Test - into Lumea's digital pathology platform, BxLink.
The integration aims to streamline test ordering and delivery processes, enabling healthcare providers to electronically manage Prolaris and MyRisk tests through BxLink. This automation is expected to reduce errors and deliver results in under 10 days after specimen collection.
The Prolaris test, which is included in NCCN Guidelines, assesses prostate cancer aggressiveness for treatment decisions, while MyRisk evaluates 48 genes associated with hereditary cancer risk. The collaboration focuses on delivering precision-based insights efficiently to support informed decision-making by patients and providers.
Myriad Genetics (NASDAQ: MYGN) announced groundbreaking research results for its Prequel® Prenatal Screen with AMPLIFY™ technology, which enables reliable prenatal cell-free DNA screening as early as eight weeks' gestation, compared to the typical 9-10 weeks. The study, awarded SMFM's 'Dru Carlson Memorial Award for Best Research in Ultrasound and Genetics,' demonstrated that Prequel with AMPLIFY achieved an average fetal fraction of 12.5% with a no-call rate below 0.5% between 8-10 weeks of gestation.
This advancement allows earlier risk assessment of chromosomal disorders, enabling patients to pursue diagnostic testing like chorionic villus sampling at 10 weeks instead of waiting for amniocentesis at 15 weeks. The findings will be presented at the Society for Maternal-Fetal Medicine Conference by Dr. Lorraine Dugoff from the University of Pennsylvania.
Myriad Genetics (NASDAQ: MYGN) has launched 'Know More Sooner,' a new educational website focused on reproductive and prenatal genetic testing. The initiative aims to provide comprehensive information about genetic screening options and address common misconceptions.
The website was developed in response to survey findings showing that while most women desire prenatal screening after understanding its benefits, 40% reported not being offered noninvasive prenatal testing (NIPT). Myriad offers three key tests: SneakPeek® Gender Test (>99% accuracy from six weeks), Foresight® Carrier Screen for inherited conditions, and Prequel® Prenatal Screen for chromosomal conditions (from eight weeks).
The American College of Obstetricians and Gynecologists recommends carrier and cfDNA screening for all pregnant patients, regardless of age, ancestry, or risk factors.
Myriad Genetics (NASDAQ: MYGN) published a study in Obstetrics & Gynecology demonstrating improved hereditary cancer testing completion rates through their online screening tool and patient education program. The study revealed significant improvements following the implementation of MyGeneHistory®:
- 30% more patients identified as meeting guidelines for hereditary cancer testing
- 50% more guideline-meeting patients were offered testing
- Double the number of patients completed hereditary cancer testing
The study highlighted that 87% of clinicians reported increased confidence in hereditary cancer risk assessment, with over 80% stating the program helped them follow ACOG guidelines. The company's Breast Cancer Risk Assessment Program includes the MyRisk® with RiskScore® Hereditary Cancer Test, offering hereditary cancer testing and polygenic breast cancer risk assessment for all ancestries.
Diligent, a GRC SaaS company, announced a collaboration with S&P Global's Market Intelligence division to launch Diligent Market Insights Reporting. The new service, powered by S&P Capital IQ Pro data, provides corporate directors and executives with comprehensive financial insights and market comparisons through the Diligent One Platform, which serves over 1 million users and 700,000 board members.
The integration delivers tailored reports featuring peer comparisons, stock charts, market analysis, analyst price targets, and earnings sentiment analysis. Key benefits include access to comprehensive market data, customized insights for corporate leadership, enhanced decision-making capabilities, and seamless integration with Diligent Boards. The service aims to help boards and executives navigate complex risk landscapes by providing contextualized insights for strategic decision-making.
Myriad Genetics (NASDAQ: MYGN) has released preliminary financial results for Q4 and full year 2024, along with 2025 guidance. The company expects Q4 2024 revenues between $209-211 million, representing a 6-7% increase year-over-year, and full-year 2024 revenues of $836-838 million, up 11% from 2023.
Q4 2024 is expected to show a GAAP diluted loss per share of $(0.72)-$(0.62) and adjusted EPS of $0.03-$0.04. Full-year 2024 GAAP loss per share is projected at $(1.66)-$(1.56) with adjusted EPS of $0.14-$0.15. The company anticipates Q4 GAAP net loss between $(65.7)-$(56.8) million and adjusted EBITDA of $10-11 million.
Cash and cash equivalents stood at approximately $102 million as of December 31, 2024, showing a $2 million increase from Q3 2024. Final audited results will be released during the February 2025 earnings call.
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