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 reported second-quarter 2022 revenue of $179.3 million, a 7% increase year-over-year, with adjusted earnings per share (EPS) of $0.04. Excluding divested businesses, revenue grew 9% sequentially. The company updated its fiscal year 2022 guidance, anticipating revenue of $670-$700 million and an adjusted EPS loss of $(1.10) - $(1.00). Despite challenges including inflation, significant growth in the Mental Health sector was noted, with GeneSight test volumes up 39% year-over-year. Ended the quarter with $283.6 million in cash.
Myriad Genetics (NASDAQ: MYGN) is set to release its Q2 earnings on August 4, 2022, prior to market opening, followed by a conference call at 4:30 PM EDT. Key executives, including CEO Paul J. Diaz, will discuss the company's financial performance and updates for the period ending June 30, 2022. Additionally, an Investor Day is scheduled for August 11, 2022, focusing on strategic growth opportunities and the R&D pipeline.
Myriad is recognized for its contributions to genetic testing and precision medicine, and was named among Fast Company’s World’s Most Innovative Companies for 2022.
Myriad Genetics (NASDAQ: MYGN) will host an Investor Day on August 11, 2022, to outline its growth strategies, R&D pipeline, and technology initiatives. The event, led by CEO Paul J. Diaz and the executive team, aims to enhance access to genetic testing while improving its affordability and reducing complexity. Presentations will highlight new products and partnerships across Women’s Health, Oncology, and Mental Health. A webcast will be available for those unable to attend in person. Myriad's commitment to innovation has earned it recognition as one of the World’s Most Innovative Companies for 2022.
Myriad Genetics (NASDAQ: MYGN) released its inaugural ESG report, focusing on enhancing health equity, social justice, and sustainability. In 2021, the company provided over $49 million in financial assistance to more than 86,000 patients lacking insurance. Myriad introduced the MyRisk™ Hereditary Cancer Test with RiskScore® to improve personalized breast cancer risk assessment. The company also emphasizes diversity and sustainability, highlighting that women represent 61% of its workforce. Significant recycling efforts and environmentally-friendly initiatives are underway at Myriad's facilities.
Myriad Genetics (MYGN) announced a strategic partnership with Epic, allowing healthcare providers to order genetic tests for over 250 million patients within Epic's network. This integration will streamline the workflow for healthcare providers, enabling them to order and review Myriad test results directly through Epic's platform. The collaboration aims to enhance patient care and facilitate access to genetic insights, improving health outcomes. The integration is expected to go live later this year, and is part of Myriad's growth strategy to enhance tech-enabled customer capabilities.
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.
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