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, Inc. (NASDAQ: MYGN), a leader in genetic testing and precision medicine, will present its transformation and growth strategy at the Goldman Sachs 43rd Annual Global Healthcare Conference on June 13, 2022, at 4:20 p.m. EDT. The presentation will be accessible via a live audio webcast on Myriad's investor information webpage. Myriad is recognized for developing genetic tests that assess disease risk and guide treatment, significantly enhancing patient care while reducing healthcare costs. It was named among the World’s Most Innovative Companies for 2022 by Fast Company.
Myriad Genetics (NASDAQ: MYGN) will present multiple studies at the 2022 ASCO Annual Meeting, showcasing the role of genetic testing in cancer treatment and risk assessment. These presentations highlight Myriad's partnership with oncologists and the launch of Precise™ Oncology Solutions, which provides comprehensive genetic testing. The company also announced an expansion of its collaboration with Intermountain Precision Genomics for a liquid biopsy therapy selection test. Myriad aims to further improve patient outcomes through innovative solutions and data-driven insights.
Myriad Genetics (MYGN) reported a Q1 2022 revenue of $164.9 million, an 11% increase year-over-year. The company achieved diluted GAAP EPS of $(0.26) and adjusted EPS of $(0.03>, improving by $0.26 and $0.03 respectively. Cash and investments totaled $339.2 million at the end of the quarter. The Oncology segment generated $69.8 million in revenue, while Women’s Health saw a 19% increase to $65.5 million. Partnerships and new products, including the Precise Tumor test, were highlighted as keys to future growth in the sector.
Myriad Genetics (NASDAQ: MYGN) will showcase its transformation and growth plan at the Bank of America Securities 2022 Healthcare Conference on May 11, 2022, at 2:20 p.m. EDT. Paul J. Diaz, president and CEO, will lead the discussion. The presentation will be accessible through a live audio webcast available on Myriad's website, aimed at advancing genetic testing and precision medicine. Recognized by Fast Company as one of the World’s Most Innovative Companies for 2022, Myriad is dedicated to improving patient care and reducing healthcare costs through its genetic tests.
Myriad Genetics (NASDAQ: MYGN) has expanded its partnership with Intermountain Precision Genomics to introduce a new liquid biopsy therapy selection test. This offering aims to enhance cancer treatment decisions by analyzing circulating tumor DNA in patients' blood, providing a less invasive alternative to traditional biopsies. The new test will be integrated into Myriad's Precise Oncology Solutions, which currently includes various genetic testing options. Initial focus will be on solid tumors in advanced stages, with the test expected to launch in 2023.
Myriad Genetics (NASDAQ: MYGN) will host its first-quarter 2022 earnings conference call on May 5, 2022, at 4:30 p.m. EDT. The earnings will be released prior to market opening on the same day. Executives, including CEO Paul J. Diaz and CFO R. Bryan Riggsbee, will provide insights into the company's performance for the period ending March 31, 2022. The call can be accessed by domestic and international callers, with an archived replay available for seven days. Myriad Genetics focuses on genetic testing and precision medicine to enhance healthcare outcomes.
Myriad Genetics conducted a nationwide survey revealing that 60% of women diagnosed with depression or anxiety feel ignored regarding their mental health concerns. Two-thirds are nearing a breaking point, impacting their personal and professional lives. Over half delayed treatment for over a year, often due to misconceptions about their condition or stigma. Many women believe prescription medications are the most effective treatment, yet only 30% are aware of genetic testing that could inform their treatment. The GeneSight test aims to improve treatment outcomes by tailoring medications to genetic profiles.
Myriad Genetics has launched Precise™ Oncology Solutions, offering a comprehensive suite of tests for oncologists to personalize cancer treatment. This includes the new Precise™ Tumor Molecular Profile Test, which works alongside existing tests like MyRisk™ and MyChoice® CDx.
This innovation aims to streamline the testing process and improve treatment outcomes for patients with solid tumors, especially ovarian cancer. A unified online portal enhances accessibility and facilitates timely results, marking a significant advancement in precision oncology.
Myriad Genetics announced the FDA approval of its BRACAnalysis CDx test as a companion diagnostic for HER2 negative high-risk early-stage breast cancer patients. This test identifies germline BRCA mutations and assists in determining eligibility for Lynparza (olaparib) treatment. The OlympiA trial demonstrated significant improvement in patient survival rates. This advancement enhances treatment options for breast cancer patients and underscores the growing role of genomics in clinical care.
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