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. (MYGN) is a leader in molecular diagnostics and precision medicine, developing genetic tests that inform critical healthcare decisions across oncology, hereditary cancer risk assessment, and reproductive health. This news hub provides investors and healthcare professionals with timely updates on the company's scientific advancements, regulatory milestones, and strategic initiatives.
Access official press releases and third-party analysis covering MYGN's financial results, product innovations, and clinical collaborations. Our curated collection includes updates on diagnostic test approvals, partnership announcements with healthcare systems, and developments in personalized treatment solutions. All content is organized chronologically for efficient tracking of the company's progress in genetic testing technologies.
Key areas of focus include updates to Myriad's hereditary cancer screening panels, advancements in tumor profiling accuracy, and expansions in pharmacogenomic testing capabilities. The page also tracks regulatory submissions and peer-reviewed study publications validating the company's diagnostic approaches.
Bookmark this page for streamlined access to Myriad Genetics' latest developments in DNA-based health solutions. Check regularly for updates on how MYGN continues shaping precision medicine landscape through innovative diagnostic technologies and evidence-based clinical tools.
Myriad Genetics (NASDAQ:MYGN) announced a new analysis published in Psychiatry Research highlighting the effectiveness of its GeneSight® Psychotropic test. The study shows that the combinatorial approach of the GeneSight test outperforms single-gene testing in predicting patient outcomes and medication blood levels for depression and anxiety treatments. The analysis utilized data from the GUIDED trial, revealing higher response rates when patients switched to medications with moderate or no gene-drug interactions. This work underscores the potential of GeneSight as a standard-of-care tool in psychiatric treatment.
Myriad Genetics (NASDAQ: MYGN) announced a strategic collaboration with Illumina to create a kit-based version of the myChoice® companion diagnostic test for international markets.
This partnership aims to enhance access to innovative oncology solutions, improving patient outcomes by utilizing next-generation sequencing in tumor profiling.
myChoice CDx is the only extensively validated diagnostic test for predicting responses to PARP inhibitors in various cancers and has recently received CE Marking and Japanese regulatory approval.
Myriad Genetics has completed a strategic review to enhance its focus on Women’s Health, Oncology, and Mental Health. The company is pursuing strategic alternatives for its Autoimmune business and realigning international operations to streamline costs and improve growth. This includes focusing on high-growth markets like Germany, France, and Japan, with an expected cost savings of $5 million upon full implementation. Recent developments include a positive reimbursement decision in Germany for the EndoPredict test and increased revenue from the BRACAnalysis CDx test in Japan.
Myriad Genetics (NASDAQ: MYGN) will present its transformation and growth initiatives at the 39th Annual J.P. Morgan Healthcare Conference, scheduled for January 11, 2021, at 2:50 p.m. EST. CEO Paul J. Diaz will focus on how the company is leveraging precision medicine to enhance patient care and lower healthcare costs. The event will be accessible via a live audio webcast on Myriad's website, aiming to shed light on key opportunities to improve diagnostics and treatment strategies.
Myriad Genetics (NASDAQ: MYGN) presented a study at the 2020 San Antonio Breast Cancer Symposium demonstrating the effectiveness of its myRisk® Hereditary Cancer and riskScore® tests in assessing breast cancer risk among women with the ATM gene mutation. The study aims to enhance personalized risk assessments, enabling informed decisions regarding surveillance and surgical options for patients. Myriad's riskScore combines data from 20 years of genetic studies and family history, offering a comprehensive assessment for women at risk.
Integrated Prescription Management (IPM) has partnered with Myriad Genetics (MYGN) to introduce a personalized multibiomarker program for rheumatoid arthritis (RA). This program aims to enhance patient outcomes while potentially reducing healthcare costs significantly, with the Vectra blood test predicting treatment efficacy and risks of joint damage.
Rich Adams, IPM COO, highlighted Vectra's capability to save over $5,000 monthly on treatments. The collaboration is expected to advance clinical evidence supporting the test's value for the estimated 1.5 million Americans living with RA.
New nationwide poll results reveal significant mental health challenges among seniors, with 61% of respondents age 65+ reluctant to seek treatment for depression. Surprisingly, 33% believe they can manage their symptoms independently. The GeneSight® Mental Health Monitor indicates that stigma surrounding mental health is prevalent, as many seniors view depression as a normal aspect of aging. Experts urge that depression is a treatable condition, comparable to physical ailments. The survey, conducted with a margin of error of ±5%, highlights the critical need for improved awareness and treatment.
Myriad Genetics (MYGN) has expanded its myChoice® tumor testing to Europe and China, enhancing access to its genomic instability test. This test identifies patients likely to benefit from DNA-damaging drugs. Recent trial data showed Lynparza, combined with bevacizumab, improved progression-free survival in HRD-positive ovarian cancer patients. Myriad will collaborate with leading pathology institutes in Germany and France for testing, while partnering with Burning Rock Biotech in China to broaden market reach. This initiative aligns with Myriad's goal of advancing precision medicine globally.
Myriad Genetics (NASDAQ: MYGN) presented findings at the American College of Rheumatology (ACR) meeting, highlighting the significance of Vectra testing and three biomarkers in predicting cardiovascular (CV) risks in rheumatoid arthritis (RA) patients. The studies indicated Vectra as a strong predictor of joint damage, outperforming subjective measures. Findings showed a hazard ratio of 3.99 for major CV events with Vectra, emphasizing its potential for guiding treatment decisions. Myriad seeks to leverage this data to enhance patient outcomes and inform clinicians.
Myriad Genetics reported financial results for Q3 2020, revealing revenues of $145.2 million, a 56% sequential increase but a 22% decline year-over-year. Test volumes improved to 90% of pre-pandemic levels. GAAP operating income rose by $28.7 million sequentially, while GAAP EPS improved to ($0.20). The company identified over $40 million in annualized cost savings and announced a strategic review of its Myriad RBM and Dermatology units. Myriad continues to adapt to COVID-19 impacts, aiming for sustainable growth and operational excellence.
