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 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.
Myriad Genetics (NASDAQ: MYGN) has completed the sale of its EndoPredict® business to Eurobio Scientific, a leading French in vitro diagnostics company. This move is part of Myriad's international reorganization announced in May 2024. The deal includes licensing Eurobio the right to sell Prolaris® in vitro diagnostic kits outside the U.S. Myriad retains U.S. rights for EndoPredict as part of its Precise™ Oncology Solutions suite.
This transaction aligns with Myriad's strategy to focus on domestic opportunities while maintaining global biopharma partnerships. CEO Paul J. Diaz stated that the reorganization will enable continued growth in oncology and biopharma business in Europe and Asia through a more efficient commercial distribution model, reducing organizational complexity and enterprise risk.
Myriad Genetics (NASDAQ: MYGN) has appointed Jennifer Fox as Chief Legal Officer, effective September 3, 2024. Fox brings nearly two decades of legal experience in the life sciences sector, with expertise in intellectual property, litigation, and regulatory matters. Her responsibilities will include support and counsel for legal affairs, IP, patent protection, M&A, litigation, regulatory and quality assurance, compliance, privacy, and government affairs.
Fox previously served as Executive VP of External Affairs at Emergent BioSolutions, overseeing legal functions, government and public affairs, communications, and ESG initiatives. She holds a J.D. from North Carolina Central University, an M.S. in Biochemistry and Molecular Biology, and a B.S. in Biology from the University of Toledo.
Myriad Genetics (NASDAQ: MYGN), a leader in genetic testing and precision medicine, has announced its upcoming second quarter 2024 financial results release and earnings conference call. The company will release its quarterly earnings on August 6, 2024, after market close. The earnings conference call is scheduled for the same day at 4:30pm ET.
During the call, Myriad's management will provide a financial overview and business update for Q2 2024. Investors can access a live webcast of the call on Myriad's Investor Relations website. For those wishing to participate via telephone, registration is required to receive a dial-in number and unique PIN. An archived version of the webcast will be available on the company's investor website following the call.
Myriad Genetics' Cancer Risk Survey: Breast Cancer Edition reveals significant knowledge gaps about breast density and cancer risk. Key findings include:
- 63% of women don't know dense breasts increase breast cancer risk
- 44% don't understand breast density
- Only 66% believe annual breast health checks are necessary
- 40% think additional screenings are needed for dense breasts, but only 1/3 would consider genetic testing
New FDA guidelines require breast imaging facilities to alert patients with dense breasts by September 2024. Myriad's MyRisk® Hereditary Cancer Test with RiskScore® calculates a woman's 5-year and lifetime breast cancer risk, combining genetic insights, family history, and clinical factors like breast density. Early detection is important for improved patient outcomes, and understanding breast density can help women make informed decisions about screening options.
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