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.
Overview of Myriad Genetics
Myriad Genetics (MYGN) is a molecular diagnostics and precision medicine company that develops advanced genetic tests to evaluate the risk of developing disease, diagnose existing conditions, and inform treatment strategies. Employing state-of-the-art techniques in DNA sequencing and RNA analysis, Myriad’s comprehensive portfolio spans multiple medical specialties, including oncology, hereditary cancer assessment, pharmacogenomics, and prenatal screening. By combining molecular diagnostic insights with clinical expertise, the company aims to provide actionable information to clinicians and empower patients with personalized health assessments.
Core Business Areas
Myriad Genetics is organized around several key business areas that collectively address the needs of patients and healthcare providers:
- Hereditary Cancer Testing: Utilizing genetic panels that assess multiple genes associated with hereditary cancer risk, the company helps determine an individual's predisposition to various cancers. These tests integrate family health history and clinical factors to offer risk estimates that can guide preventive care and early intervention strategies.
- Oncology Diagnostics: Through innovative tumor profiling and genomic tests, Myriad provides detailed insights into tumor biology. This supports clinicians in making treatment decisions by identifying prognostic markers and potential therapeutic targets and ensuring that precision oncology solutions are accessible at critical points in the patient care journey.
- Pharmacogenomics: The company offers diagnostic tests that assess genetic influences on drug metabolism and responsiveness. This information is vital in optimizing treatment regimens, particularly in mental health and other therapeutic areas, where individual genetic variability can dramatically impact medication efficacy and safety.
- Prenatal and Reproductive Health: Myriad has developed noninvasive prenatal tests that provide early insights into fetal development and genetic risks, thereby supporting informed decisions during pregnancy and enhancing overall reproductive care.
Innovative Technology and Industry Expertise
At its core, Myriad Genetics leverages proprietary molecular diagnostic platforms that combine high-throughput sequencing with refined bioinformatics. This approach enables the detection of subtle genetic variations and the quantification of low-level tumor signals, a critical factor in early disease detection and therapeutic monitoring. The company collaborates closely with leading academic institutions and clinical research centers to validate its tests rigorously and ensure that its offerings meet high standards of accuracy and clinical utility.
Market Position and Strategic Collaborations
Operating in an evolving genomic medicine landscape, Myriad Genetics has established itself as an important contributor to the field. Its diverse product portfolio and collaborative initiatives help solidify its competitive position. The company partners with healthcare systems, pharmaceutical companies, and digital pathology providers to integrate its diagnostic tools into streamlined clinical workflows. This strategic approach enables faster, more reliable access to genomic insights with the goal of lowering healthcare costs and improving patient outcomes.
Commitment to Quality and Patient-Centered Solutions
Myriad Genetics places a strong emphasis on delivering clear, actionable, and expert-reviewed diagnostic information. By offering customizable workflow solutions and comprehensive support for the interpretation of genetic data, the company acts as a trusted advisor to both clinicians and patients. Its rigorous quality control, combined with continuous research and clinical validation, underscores the company’s dedication to advancing personalized medicine.
Conclusion
Through a focus on innovative genetic testing and precision medicine, Myriad Genetics enhances the diagnostic process from risk assessment to treatment guidance. The company’s expertise in molecular diagnostics and its commitment to integrating cutting-edge technology with clinical insights position it as a critical contributor in an industry dedicated to improving patient care and transforming healthcare delivery.
Myriad Genetics (NASDAQ: MYGN) and Lumea Inc. have announced a collaboration to integrate Myriad's molecular diagnostic tests - Prolaris Prostate Cancer Test and MyRisk Hereditary Cancer Test - into Lumea's digital pathology platform, BxLink.
The integration aims to streamline test ordering and delivery processes, enabling healthcare providers to electronically manage Prolaris and MyRisk tests through BxLink. This automation is expected to reduce errors and deliver results in under 10 days after specimen collection.
The Prolaris test, which is included in NCCN Guidelines, assesses prostate cancer aggressiveness for treatment decisions, while MyRisk evaluates 48 genes associated with hereditary cancer risk. The collaboration focuses on delivering precision-based insights efficiently to support informed decision-making by patients and providers.
Myriad Genetics (NASDAQ: MYGN) announced groundbreaking research results for its Prequel® Prenatal Screen with AMPLIFY™ technology, which enables reliable prenatal cell-free DNA screening as early as eight weeks' gestation, compared to the typical 9-10 weeks. The study, awarded SMFM's 'Dru Carlson Memorial Award for Best Research in Ultrasound and Genetics,' demonstrated that Prequel with AMPLIFY achieved an average fetal fraction of 12.5% with a no-call rate below 0.5% between 8-10 weeks of gestation.
This advancement allows earlier risk assessment of chromosomal disorders, enabling patients to pursue diagnostic testing like chorionic villus sampling at 10 weeks instead of waiting for amniocentesis at 15 weeks. The findings will be presented at the Society for Maternal-Fetal Medicine Conference by Dr. Lorraine Dugoff from the University of Pennsylvania.
Myriad Genetics (NASDAQ: MYGN) has launched 'Know More Sooner,' a new educational website focused on reproductive and prenatal genetic testing. The initiative aims to provide comprehensive information about genetic screening options and address common misconceptions.
The website was developed in response to survey findings showing that while most women desire prenatal screening after understanding its benefits, 40% reported not being offered noninvasive prenatal testing (NIPT). Myriad offers three key tests: SneakPeek® Gender Test (>99% accuracy from six weeks), Foresight® Carrier Screen for inherited conditions, and Prequel® Prenatal Screen for chromosomal conditions (from eight weeks).
The American College of Obstetricians and Gynecologists recommends carrier and cfDNA screening for all pregnant patients, regardless of age, ancestry, or risk factors.
Myriad Genetics (NASDAQ: MYGN) published a study in Obstetrics & Gynecology demonstrating improved hereditary cancer testing completion rates through their online screening tool and patient education program. The study revealed significant improvements following the implementation of MyGeneHistory®:
- 30% more patients identified as meeting guidelines for hereditary cancer testing
- 50% more guideline-meeting patients were offered testing
- Double the number of patients completed hereditary cancer testing
The study highlighted that 87% of clinicians reported increased confidence in hereditary cancer risk assessment, with over 80% stating the program helped them follow ACOG guidelines. The company's Breast Cancer Risk Assessment Program includes the MyRisk® with RiskScore® Hereditary Cancer Test, offering hereditary cancer testing and polygenic breast cancer risk assessment for all ancestries.
Diligent, a GRC SaaS company, announced a collaboration with S&P Global's Market Intelligence division to launch Diligent Market Insights Reporting. The new service, powered by S&P Capital IQ Pro data, provides corporate directors and executives with comprehensive financial insights and market comparisons through the Diligent One Platform, which serves over 1 million users and 700,000 board members.
The integration delivers tailored reports featuring peer comparisons, stock charts, market analysis, analyst price targets, and earnings sentiment analysis. Key benefits include access to comprehensive market data, customized insights for corporate leadership, enhanced decision-making capabilities, and seamless integration with Diligent Boards. The service aims to help boards and executives navigate complex risk landscapes by providing contextualized insights for strategic decision-making.
Myriad Genetics (NASDAQ: MYGN) has released preliminary financial results for Q4 and full year 2024, along with 2025 guidance. The company expects Q4 2024 revenues between $209-211 million, representing a 6-7% increase year-over-year, and full-year 2024 revenues of $836-838 million, up 11% from 2023.
Q4 2024 is expected to show a GAAP diluted loss per share of $(0.72)-$(0.62) and adjusted EPS of $0.03-$0.04. Full-year 2024 GAAP loss per share is projected at $(1.66)-$(1.56) with adjusted EPS of $0.14-$0.15. The company anticipates Q4 GAAP net loss between $(65.7)-$(56.8) million and adjusted EBITDA of $10-11 million.
Cash and cash equivalents stood at approximately $102 million as of December 31, 2024, showing a $2 million increase from Q3 2024. Final audited results will be released during the February 2025 earnings call.
Myriad Genetics (NASDAQ: MYGN) has announced a partnership with sports broadcaster Hannah Storm to promote their Breast Cancer Risk Assessment Program featuring the MyRisk® with RiskScore® Hereditary Cancer Test. Storm, who was diagnosed with stage zero Ductal Carcinoma in Situ (DCIS) in January 2024, will serve as an ambassador for the program.
The collaboration aims to raise awareness about the importance of knowing family cancer history and understanding associated risks. Storm's cancer was detected early through routine screening, highlighting the value of preventive measures. As a mother of three daughters, she emphasizes the significance of genetic testing for understanding hereditary risks.
According to Myriad Genetics, nearly half of women may not know their family health history. Storm will share content on her social media platforms about hereditary cancers and the importance of knowing both sides of family health history.
Myriad Genetics (NASDAQ: MYGN) has announced its participation in the 43rd Annual J.P. Morgan Healthcare Conference in San Francisco. The company's President and CEO Paul J. Diaz, along with COO Sam Raha, will deliver a presentation on Wednesday, January 15, at 3:45 PM PT (6:45 PM ET).
Investors and interested parties can access the presentation through a live webcast available in the investor relations section of Myriad's website at investor.myriad.com. An archived version of the presentation will be made available following the live event.
Myriad Genetics (NASDAQ: MYGN) has announced its participation in the 43rd Annual J.P. Morgan Healthcare Conference in San Francisco. The company's management team will deliver a presentation on Wednesday, January 15, at 3:45 PM PT (6:45 PM ET).
Interested parties can access the presentation through a live webcast available in the investor relations section of Myriad's website at investor.myriad.com. For those unable to attend the live session, an archived version of the presentation will be made available on the same day.
The University of Texas MD Anderson Cancer Center and Myriad Genetics have announced a five-year strategic alliance to accelerate the clinical evaluation and development of Myriad’s molecular residual disease (MRD) assay.
This collaboration combines Myriad’s oncology diagnostic expertise with MD Anderson’s clinical research capabilities to create a portfolio of studies evaluating the clinical validity and utility of Myriad’s Precise MRD test. The studies will focus on breast, gastrointestinal, genitourinary, and gynecological cancers.
Myriad's Chief Scientific Officer, Dale Muzzey, emphasized the potential of the Precise MRD test to enhance treatment strategies by detecting tumor-derived DNA at very low levels, which could improve patient outcomes.
Under the agreement, MD Anderson will handle patient enrollment, sample collection, clinical data analysis, and manuscript writing, while Myriad will provide funding, MRD testing, and scientific research support, along with potential milestone and royalty payments.
MD Anderson's Christopher Flowers highlighted the alliance's goal to explore MRD testing applications, including relapse monitoring, identifying high-risk patients, and potential intervention approaches.
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