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) announced that its CEO, Paul J. Diaz, and Chief Scientific Officer, Dale Muzzey, will present at the 41st Annual J.P. Morgan Healthcare Conference on January 9, 2023, at 4:30 p.m. PST/7:30 p.m. EST. The presentation will be available via a live webcast on the company's Investor Relations website, with an archived version accessible later that day. Additionally, COO Nicole Lambert will join a panel discussion on global precision medicine at the Goodwin + KPMG Symposium on January 11, 2023, at 10:45 a.m. PST/1:45 p.m. EST.
Myriad Genetics, Inc. (NASDAQ: MYGN) has announced the appointment of five senior executives to enhance its product management and commercial strategy. Key new hires include Marc Leighton as SVP for Product Management, Glenn Farrell as CMO, and others responsible for lab transformation and business development. Their collective experience aims to bolster Myriad's growth in genetic testing and precision medicine. CEO Paul J. Diaz expressed confidence that their leadership will drive sustainable growth and innovation, positioning the company for future success.
Myriad Genetics (NASDAQ: MYGN) has announced positive results from a longitudinal study validating its MyRisk™ Hereditary Cancer test with RiskScore® as an accurate breast cancer risk predictor. Presented at the 2022 San Antonio Breast Cancer Symposium, the study involved over 130,000 women and demonstrated that RiskScore can better stratify high- and low-risk patients compared to standard assessments. This advancement in precision medicine could enhance breast cancer prevention strategies, allowing women to make informed management decisions regarding their health.
Myriad Genetics (NASDAQ: MYGN) presented new data at the 2022 San Antonio Breast Cancer Symposium, focusing on a spotlight discussion regarding breast cancer risk prediction. The discussion covered a study involving 130,058 women, highlighting the use of a combined risk score based on polygenic risk scores and the Tyrer-Cuzick model. The findings aim to enhance breast cancer prevention and screening strategies. Myriad showcased various products, including MyRisk, MyChoice CDx, and EndoPredict, emphasizing their role in personalized cancer care.
Myriad Genetics, Inc. (NASDAQ: MYGN) will present at the 41st Annual NSGC meeting from Nov. 16-19, 2022, focusing on expanding access to genetic insights for prenatal and hereditary cancer. CEO Paul J. Diaz emphasizes collaboration with genetic counselors to enhance accessibility and affordability. The company will host a CEU symposium and promote its products, including MyRisk™ with RiskScore and Prequel®. Additionally, Myriad plans to livestream key discussions on health equity and precision medicine.
Myriad Genetics (MYGN) announced the launch of UroSuite, a suite of genetic tests for prostate cancer care. This comprehensive solution offers multiple tests including Prolaris and MyRisk, allowing healthcare providers to personalize treatment effectively. The platform also features a Precise Treatment Registry, aiming to enhance the accessibility of genetic insights. Myriad is focused on addressing educational gaps in genetic testing adoption, providing clinicians with tools for streamlined reporting and patient management. The company aims to improve patient outcomes in precision medicine.
Myriad Genetics (NASDAQ: MYGN) announced a new study published in JCO Precision Oncology, which developed a breast cancer polygenic risk score (PRS) for women of all ancestries. This innovative PRS methodology enhances risk assessment accuracy using genetic ancestry markers, providing a tailored risk evaluation that incorporates both genetic and clinical variables. The MyRisk™ Hereditary Cancer Test has already integrated this advancement, improving access to genetic testing and aiming to reduce healthcare disparities for breast cancer risk.
Myriad Genetics has acquired Gateway Genomics for $67.5 million, enhancing its Women's Health portfolio. This acquisition incorporates the popular SneakPeek Early Gender DNA Test, which reveals a baby's gender as early as 6 weeks into pregnancy with 99% accuracy. The move aims to broaden access to personalized genetic tests, serving a market of approximately 3.6 million annual births in the U.S. SneakPeek is projected to grow at a rate above 20% in the next few years. The deal is expected to be neutral to Myriad's earnings in 2023 and accretive in 2024.
Myriad Genetics (MYGN) reported third-quarter 2022 revenue of $156.4 million, down 2% year-over-year, impacted by currency translations and a non-recurring milestone payment. Testing volumes, excluding divested businesses, rose 12% year-over-year, with significant growth in GeneSight tests (34%) and hereditary cancer testing (4%). The company announced the acquisition of Gateway Genomics for $67.5 million, expected to enhance future growth. Updated guidance reflects a revenue estimate of $668 - $672 million and a higher EPS loss forecast of $(1.35) - $(1.30).
Myriad Genetics (NASDAQ: MYGN) has elected Paul M. Bisaro to its Board of Directors, effective immediately. Bisaro brings extensive experience from his 27-year career in the pharmaceutical industry, including roles as executive chairman of Amneal Pharmaceuticals and CEO of Impax Laboratories. His expertise is seen as pivotal for shaping Myriad's future and enhancing shareholder value. Louise Phanstiel, Chair of the Board, emphasized the significance of Bisaro's appointment during this transformative period for the company.
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