Myriad Genetics Inc - MYGN STOCK NEWS

Myriad Genetics Inc. (NASDAQ: MYGN) has announced a strategic partnership with jscreen™ to advance health equity and genetic testing access. This collaboration combines Myriad's MyRisk® with RiskScore® and Foresight® Carrier Screen with jscreen's education and genetic care navigation program. The partnership aims to reach hundreds of thousands of high-risk adults across the United States through targeted outreach, educational events, and in-person genetic screenings.

The collaboration focuses on serving individuals of Jewish descent, emphasizing outreach, education, and testing convenience. jscreen's platform allows consumers to order genetic test kits online, provide saliva samples, and send them back to Myriad's lab for processing. This partnership aligns with both organizations' missions to provide preventative genetic care and improve access to carrier screening and hereditary cancer testing.

Myriad Genetics (NASDAQ: MYGN) has announced a collaboration with Flatiron Health to integrate its MyRisk® Hereditary Cancer Test into Flatiron's OncoEMR® platform. This integration allows 4,200 providers at over 800 community-based cancer care locations across the U.S. to order, receive, and review MyRisk testing results directly through their daily EMR system. The partnership aims to streamline the workflow for germline testing, enhancing access to personalized patient care and reducing administrative burdens.

MyRisk is the first hereditary cancer test to be incorporated into Flatiron's OncoEMR. This collaboration is expected to simplify the ordering experience for clinicians and provide important health information to improve patient care and outcomes. Myriad Genetics plans to expand the availability of other genomic testing solutions on the OncoEMR platform in the future.

Myriad Genetics (NASDAQ: MYGN) has announced five research collaborations to study the use of molecular residual disease (MRD) testing in breast cancer using their Precise® MRD test. These collaborations include:

• A study on ctDNA levels predicting response to therapy in HR-positive inflammatory breast cancer
• Research on ctDNA levels correlating with nodal involvement in HR-positive breast cancer
• The MONITOR-breast study assessing ctDNA levels in neoadjuvant and adjuvant therapy
• The JBCRG-C11 (CREA) study evaluating ctDNA for guiding therapy in HER2-positive breast cancer
• A study with Aptitude Health on ctDNA levels in high-risk patients in community oncology settings

Myriad's Precise MRD test tracks up to 1,000 tumor-specific variants identified via whole-genome sequencing, making it suitable for detecting low levels of ctDNA in breast cancer.

Myriad Genetics and Ultima Genomics have announced a collaboration to explore Ultima's UG 100™ sequencing platform and ppmSeq™ technology for advancing Myriad's clinical test offerings in oncology and reproductive genomics. Myriad has purchased a UG 100 for its new Lab of the Future facility in South San Francisco. The platform's low-cost and low-error sequencing capabilities may benefit Myriad's emerging products, including:

1. The Myriad Precise Molecular Residual Disease (MRD) test, which performs whole-genome sequencing on tumor and normal tissue samples to identify tumor-specific variants.

2. The upcoming FirstGene Multiple Prenatal Screen, which will run multiple prenatal screens via a single sequencing workflow.

Both Myriad and Ultima Genomics express optimism about the potential of this collaboration to improve test performance, lower costs, and expand access to cutting-edge genetic testing.

Myriad Genetics (NASDAQ: MYGN) has been granted a third patent by the U.S. Patent and Trademark Office, strengthening its position in delivering a tumor-informed, high-definition, molecular residual disease (MRD) assay. The new patent, U.S. patent no. 12,104,212, covers proprietary methods for ultra-sensitive detection of tumor-specific mutations in circulating tumor DNA (ctDNA).

This patent complements two earlier patents related to MRD technology and cell-free DNA preparation methods. Myriad's Precise® MRD assay can track up to thousands of tumor-specific variants, potentially detecting ctDNA at lower levels than other products currently available. The company is leveraging its existing technology, including the FDA-approved MyChoice® CDx companion diagnostic and FirstGeneTM platforms, to develop and commercialize Precise MRD.

Myriad is currently conducting several high-impact studies for its Precise MRD assay, including collaborations with Memorial Sloan Kettering, The University of Texas MD Anderson Cancer Center, and the National Cancer Center Hospital East in Japan. The test is available for use in research studies pursued jointly by Myriad and academic or pharmaceutical investigators.

Myriad Genetics (NASDAQ: MYGN) will present 10 studies at the National Society of Genetic Counselors 43rd Annual Conference from Sept. 17-21, 2024, in New Orleans. The research focuses on advancements in oncology and reproductive genetic testing, showcasing the company's MyRisk, FirstGene, Prequel, and Foresight tests.

Key highlights include:

• Studies on breast cancer diagnosis age for specific gene variants
• Outcomes of pregnancies screening positive for rare autosomal aneuploidies and microdeletions
• Validation of the FirstGene screen for various genetic conditions
• Comparison of carrier rates from different data sources
• Investigation of cancer diagnosis codes after atypical prenatal cell-free DNA screening findings

Myriad will also host a lunch symposium on integrating breast cancer risk assessment programs into various clinical settings.

Myriad Genetics (NASDAQ: MYGN) has announced an Investor Event scheduled for October 9, 2024, at the Westin Grand Central Hotel in New York City. The event, starting at 9:00 am EDT, will last approximately two hours and feature presentations from CEO Paul J. Diaz and other executive leaders.

Topics to be discussed include:

• Long-term growth strategy
• Operational initiatives
• Scientific and clinical advancements in the product pipeline
• Long-term financial goals

In-person attendance requires registration, while a live webcast will be available on Myriad's investor relations website. A replay will be accessible for at least 30 days following the event.

Myriad Genetics (NASDAQ: MYGN), a leader in genetic testing and precision medicine, has announced its participation in two upcoming investor healthcare conferences. The company's management will be featured in fireside chats at:

• The Wells Fargo Healthcare Conference on Sept. 4, 2024, at 1:30pm ET, with CFO Scott Leffler
• The Morgan Stanley Healthcare Conference on Sept. 5, 2024, at 7:00am ET, with President and CEO Paul J. Diaz

Investors and interested parties can access live and archived webcasts of both presentations through the company's investor relations website at investor.myriad.com.

Myriad Genetics (NASDAQ: MYGN) reported strong Q2 2024 results, with revenue growing 15% year-over-year to $212 million. Growth was driven by Prenatal (25%), Pharmacogenomics (22%), and Hereditary Cancer (19%). GAAP EPS improved to $(0.41) from $(1.42) in Q2 2023, while adjusted EPS rose to $0.05 from $(0.08). The company raised its 2024 financial guidance, projecting full-year revenue of $835-$845 million (11-12% growth) and adjusted EPS of $0.08-$0.12. Myriad also increased its long-term revenue growth target to 12%. Test volumes increased 9% year-over-year, with improvements in average revenue per test across the portfolio. The company reported positive cash flow from operations and continues to invest in innovation while growing profitably.