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) 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.
Myriad Genetics (NASDAQ: MYGN) has announced a partnership with sports broadcaster Hannah Storm to promote their Breast Cancer Risk Assessment Program featuring the MyRisk® with RiskScore® Hereditary Cancer Test. Storm, who was diagnosed with stage zero Ductal Carcinoma in Situ (DCIS) in January 2024, will serve as an ambassador for the program.
The collaboration aims to raise awareness about the importance of knowing family cancer history and understanding associated risks. Storm's cancer was detected early through routine screening, highlighting the value of preventive measures. As a mother of three daughters, she emphasizes the significance of genetic testing for understanding hereditary risks.
According to Myriad Genetics, nearly half of women may not know their family health history. Storm will share content on her social media platforms about hereditary cancers and the importance of knowing both sides of family health history.
Myriad Genetics (NASDAQ: MYGN) has announced its participation in the 43rd Annual J.P. Morgan Healthcare Conference in San Francisco. The company's President and CEO Paul J. Diaz, along with COO Sam Raha, will deliver a presentation on Wednesday, January 15, at 3:45 PM PT (6:45 PM ET).
Investors and interested parties can access the presentation through a live webcast available in the investor relations section of Myriad's website at investor.myriad.com. An archived version of the presentation will be made available following the live event.
Myriad Genetics (NASDAQ: MYGN) has announced its participation in the 43rd Annual J.P. Morgan Healthcare Conference in San Francisco. The company's management team will deliver a presentation on Wednesday, January 15, at 3:45 PM PT (6:45 PM ET).
Interested parties can access the presentation through a live webcast available in the investor relations section of Myriad's website at investor.myriad.com. For those unable to attend the live session, an archived version of the presentation will be made available on the same day.
The University of Texas MD Anderson Cancer Center and Myriad Genetics have announced a five-year strategic alliance to accelerate the clinical evaluation and development of Myriad’s molecular residual disease (MRD) assay.
This collaboration combines Myriad’s oncology diagnostic expertise with MD Anderson’s clinical research capabilities to create a portfolio of studies evaluating the clinical validity and utility of Myriad’s Precise MRD test. The studies will focus on breast, gastrointestinal, genitourinary, and gynecological cancers.
Myriad's Chief Scientific Officer, Dale Muzzey, emphasized the potential of the Precise MRD test to enhance treatment strategies by detecting tumor-derived DNA at very low levels, which could improve patient outcomes.
Under the agreement, MD Anderson will handle patient enrollment, sample collection, clinical data analysis, and manuscript writing, while Myriad will provide funding, MRD testing, and scientific research support, along with potential milestone and royalty payments.
MD Anderson's Christopher Flowers highlighted the alliance's goal to explore MRD testing applications, including relapse monitoring, identifying high-risk patients, and potential intervention approaches.
Myriad Genetics (NASDAQ: MYGN), a leader in genetic testing and precision medicine, has released its Quality, Innovation, and Corporate Responsibility Report. The report covers the period from January 1, 2023, to September 30, 2024, and highlights the company's commitment to responsible operations in the healthcare industry.
Key achievements include:
- Operational Excellence: 88% of genetic testing samples were processed within industry-leading turnaround times, and the company achieved a net promoter score of 72 among providers as of July 2024.
- Innovation: Continued development of new technologies like the molecular residual disease (MRD) assay and modernization of facilities under the Labs of the Future initiative, aimed at improving workflows, reducing turnaround times, and cutting operating costs.
- Corporate Responsibility: In 2024, 84% of employees rated Myriad as a great place to work, 27 percentage points higher than the typical U.S. company. The company also recycled 46.9 tons of plastic from its Salt Lake City laboratories during the reporting period.
These efforts reflect Myriad's mission to make genetic testing more accessible, help patients manage their health, and support healthcare providers in preventing and treating disease.
Myriad Genetics (NASDAQ: MYGN) achieved significant recognition as their MyRisk® Hereditary Cancer Test with RiskScore® study was named among the top 10 advances in genomic medicine by the American Journal of Human Genetics. The study, selected by the National Human Genome Research Institute's Genomic Medicine Working Group, validated RiskScore's effectiveness using data from over 130,000 women.
The research demonstrated that RiskScore, which combines a polygenic risk score (PRS) for all ancestries with the Tyrer-Cuzick model, is twice as accurate in predicting breast cancer risk compared to the Tyrer-Cuzick model alone. Notably, Myriad was among the first commercial laboratories to introduce a multi-ancestry breast-cancer PRS, advancing health equity through more inclusive genetic insights.
Myriad Genetics provided an update regarding its discussions with UnitedHealthcare (UNH) following UNH's November 1 policy update that restricts access to multi-gene panel pharmacogenetic tests, including Myriad's GeneSight test, effective January 1, 2025. The company has been engaging in dialogue with UNH, presenting additional clinical data supporting GeneSight's clinical validity and utility, particularly for primary care settings where most antidepressants are prescribed.
Myriad has requested continued access to the test for UHC enrollees in 2025. While aiming for a year-end resolution, discussions may extend into early 2025. The company maintains its previously announced 2024 financial impact estimates related to UNH's policy change.
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