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 (MYGN) announced support for a new ACMG recommendation advocating genetic carrier screening for all individuals considering pregnancy, regardless of ethnicity. This shift broadens the scope to over 110 genetic disorders, moving beyond the previously limited focus. ACMG's recommendations also call for insurance coverage, enhancing access to testing. Myriad's research, published in JAMA, highlights the limitations of ethnicity-based screening, showing low detection rates for certain groups. Their Foresight Carrier Screen tests for over 175 conditions, reinforcing their leadership in genetic testing.
Myriad Genetics (NASDAQ: MYGN) has finalized the sale of its subsidiary Myriad RBM to Q2 Solutions, a global clinical trial laboratory services organization. This transaction enhances Q2 Solutions' capabilities by integrating Myriad RBM's laboratory services for clinical research in the pharmaceutical sector. Myriad Genetics focuses on delivering genetic testing and precision medicine to improve patient care and reduce healthcare costs.
Myriad Genetics has appointed Dr. Thomas P. Slavin Jr. as its new chief medical officer, bringing extensive expertise in genetic testing and precision medicine. Previously serving as senior vice president of Medical Affairs for Oncology, Dr. Slavin will enhance the company’s genetic test portfolio across oncology, women’s health, and mental health. His experience includes leadership roles in significant healthcare institutions and contributions to national cancer guideline committees. With a focus on making genetic testing more accessible, he aims to build on Myriad's foundation of best-in-class science.
Myriad Genetics (NASDAQ: MYGN) will present its transformation plan and growth strategies at the Goldman Sachs 2021 Virtual Global Healthcare Conference on June 10, 2021, at 8:50 a.m. EST. CEO Paul J. Diaz and CFO Bryan Riggsbee will engage in a fireside chat, which will be available via live audio webcast on the Myriad website. Myriad Genetics specializes in genetic testing and precision medicine, aiming to enhance health through vital genetic insights that support disease prevention, diagnosis, and treatment across various medical fields.
Myriad Genetics, Inc. (NASDAQ: MYGN) announced the completion of the sale of its wholly-owned subsidiary, Myriad myPath, LLC, to Castle Biosciences, Inc. for $32.5 million in cash. This subsidiary includes the laboratory that provides the myPath Melanoma test. The transaction is positioned as a strategic move in Myriad's commitment to advancing genetic testing and precision medicine, enabling healthcare providers to improve patient care while reducing costs.
Integrated Prescription Management (IPM) has launched a pharmacogenomics testing program with Myriad Genetics for patients experiencing depression and anxiety. The GeneSight test evaluates individual genetic responses to medications, enabling better treatment decisions. About 18% of U.S. adults suffer from anxiety, while 8% have faced depression, with increased treatment demand during the COVID-19 pandemic. IPM aims to enhance treatment efficiency and patient recovery, ultimately improving productivity.
Myriad Genetics, Inc. (NASDAQ: MYGN) announced its agreement to sell Myriad RBM, Inc. to Q2 Solutions, a subsidiary of IQVIA. This divestiture strengthens Myriad's focus on its core areas: Women’s Health, Oncology, and Mental Health, providing capital for future growth. The transaction is expected to close in the third calendar quarter, subject to customary conditions. CEO Paul J. Diaz emphasized that this move is part of Myriad’s transformation plan.
Myriad Genetics has appointed Melissa Gonzales as the new president of its Women's Health division. Gonzales brings over 20 years of experience in women's health, previously serving as executive vice president at Medela, where she led the company to become the top breast pump brand in the U.S. At Myriad, she will focus on enhancing genetic tests that assess hereditary cancer risk and support family planning. Her expertise aims to drive growth in the Women's Health business and improve product performance under the leadership of Nicole Lambert.
Myriad Genetics (MYGN) announced a groundbreaking study validating a new polygenic risk score (PRS) for breast cancer risk assessment across all ancestries. The research, involving over 275,000 women, will be presented at the ASCO Annual Meeting on June 4, 2021. The updated PRS tool, offered at no extra cost through the myRisk Hereditary Cancer test, integrates over 90 genetic markers, enhancing personalized risk evaluations. This initiative aims to improve accessibility and reduce healthcare disparities in genetic testing.
Myriad Genetics (NASDAQ: MYGN) will present its transformation plan and growth initiatives at the Bank of America Securities 2021 Virtual Health Care Conference on May 12, 2021, at 2:45 p.m. EDT. CEO Paul J. Diaz will lead the discussion, which will be accessible via a live audio webcast. Myriad Genetics focuses on genetic testing and precision medicine, aiming to enhance patient lives through molecular diagnostic tests that assess disease risks, diagnoses, and treatment decisions. For more details, visit www.myriad.com.
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