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) 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.
Myriad Genetics, a leader in genetic testing, will participate in the 42nd Annual Cowen Health Care Conference on March 8, 2022, at 9:50 a.m. ET. CEO Paul J. Diaz will discuss the impact of genetic insights on health equity, new commercial capabilities, and industry trends. The presentation will be available via a live audio webcast on Myriad's investor information page at www.myriad.com. Myriad Genetics is dedicated to improving patient care through genetic testing that influences disease risk assessment and treatment decisions.
Myriad Genetics, Inc. reported a 4% revenue increase to $160.8 million for Q4 2021, totaling $690.6 million for the year—a 24% annual rise. Excluding divested businesses, Q4 revenues rose 19% year-over-year. Despite COVID-19 challenges, the company improved its cash position to $398.8 million. Q4 GAAP EPS was $(0.10) and adjusted EPS $(0.02). Diagnostic volumes remained stable, with notable growth in prenatal and pharmacogenomics tests. The firm plans to launch several new products in 2022 and reiterated its revenue guidance of $670 - $700 million.
Myriad Genetics (NASDAQ:MYGN) announced the publication of a peer-reviewed analysis confirming that its GeneSight® Psychotropic test is more effective than single-gene testing in predicting sertraline metabolism for patients with major depressive disorder (MDD).
This study, featured in Psychiatry Research, utilized data from 124 patients, reinforcing gene-drug interaction insights for clinicians. The findings suggest that GeneSight could significantly improve treatment outcomes for patients using sertraline, a widely prescribed SSRI.
Myriad Genetics (NASDAQ: MYGN) will host its 2021 fourth-quarter earnings conference call on February 24, 2022, at 4:30 p.m. ET, coinciding with the release of its quarterly earnings prior to market opening. President and CEO Paul J. Diaz, along with CFO R. Bryan Riggsbee, will provide a financial overview and business update for the period ending December 31, 2021. Call-in details are provided for domestic and international callers. An archived replay will be available for seven days, and a live webcast will stream on the company's website.
Myriad Genetics, a leader in genetic testing and precision medicine, announced its participation in two major healthcare conferences. On Feb. 17, 2022, CFO R. Bryan Riggsbee will engage in a fireside chat at the virtual BTIG MedTech Conference at 12 p.m. ET. This will be followed by a discussion featuring President and CEO Paul J. Diaz and Riggsbee at the SVB Leerink Global Healthcare Conference on Feb. 18, 2022, at 11:20 a.m. ET. Interested parties can access live webcasts of these events via Myriad's investor information section at www.myriad.com.
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