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.
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Myriad Genetics, Inc. secures a patent from the USPTO for a tumor-informed MRD assay, enhancing its precision medicine capabilities. The patent covers a method for preparing cell free DNA to detect circulating tumor DNA with high sensitivity and specificity.
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Myriad Genetics, Inc. announced the grant of a patent by the U.S. Patent and Trademark Office for push-button blood collection devices for fetal sex determination. The patent covers SneakPeek Snap® products until 2040, ensuring accuracy in testing by reducing DNA contamination in maternal blood samples.
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Myriad Genetics (MYGN) reported strong financial results for the full-year 2023, with a 35% growth in testing volume and $753 million in revenue, up 11% year-over-year. The company also raised $118 million in an equity offering and acquired assets from Intermountain Precision Genomics. They raised their 2024 revenue guidance to $820 - $840 million and introduced adjusted EPS guidance of $0.00 - $0.05.
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Myriad Genetics collaborates with NCCHE in Japan to study MRD testing's prognostic value across various cancer types using Precise MRD test. The SCRUM-MONSTAR-SCREEN-3 study aims to monitor ctDNA in patients with solid tumor and hematological cancers to develop personalized treatment strategies.
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Myriad Genetics, Inc. announces participation in upcoming healthcare conferences and fourth quarter earnings conference call. Management will provide financial overview, business update, and guidance for 2024. Live webcast available for investors.
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Myriad Genetics appoints Dr. Dallas Reed as Principal Medical Advisor to women's health unit, focusing on genetic testing and precision medicine. Dr. Reed brings extensive clinical and academic experience in genetics and obstetrics/gynecology to enhance access and equity in genetic testing for women's health.
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Myriad Genetics, Inc. (NASDAQ: MYGN) has completed the acquisition of select assets from Intermountain Health, including the Precise™ Tumor Test, the Precise Liquid Test, and IPG’s CLIA-certified laboratory in St. George, Utah. The Precise Tumor Test analyzes a patient’s tumor DNA to discover and target important variants within tumors, while Precise Liquid will provide comprehensive genomic profiling results from a blood draw. This acquisition allows Myriad to expand its tumor profiling offerings and complement its oncology portfolio.
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Myriad Genetics, Inc. appoints George Daneker Jr., MD, as President and Chief Clinical Officer of Oncology, effective March 18, 2024. Dr. Daneker brings over 30 years of experience in oncology and precision medicine. His role involves leading the commercial and clinical strategy to advance Myriad’s oncology portfolio, including germline testing, tumor profiling, and companion diagnostic options. The company plans to expand its product offerings into liquid biopsy and minimal residual disease (MRD) testing. Dr. Daneker's appointment is expected to accelerate Myriad's strategy with health systems and large oncology practices.
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Myriad Genetics, Inc. has announced the acquisition of select assets from Intermountain Precision Genomics’ laboratory business, including the Precise™ Tumor Test and the Precise Liquid Test. The acquisition is expected to close on February 1, 2024, and aims to enhance Myriad's commitment to its oncology business and provide new opportunities for innovation and growth.
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Myriad Genetics, a leader in genetic testing and precision medicine, announces support for the ASCO-SSO guideline for germline testing in patients with breast cancer. The guideline recommends BRCA1/2 testing for patients with invasive breast cancer, as well as testing for other breast cancer genes to inform medical therapy and surgical decision-making.
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FAQ
What is the current stock price of Myriad Genetics (MYGN)?
The current stock price of Myriad Genetics (MYGN) is $12.76 as of January 23, 2025.
What is the market cap of Myriad Genetics (MYGN)?
The market cap of Myriad Genetics (MYGN) is approximately 1.1B.
What does Myriad Genetics Inc. specialize in?
Myriad Genetics Inc. specializes in personalized medicine and molecular diagnostics to determine disease risk, accurately diagnose conditions, assess disease progression, and guide treatment decisions.
What are some key products offered by Myriad Genetics?
Key products include MyRisk (48-gene cancer risk panel), BRACAnalysis CDx (PARP inhibitor companion diagnostic), GeneSight (psychotropic drug optimization), and Prequel (noninvasive prenatal test).
What recent strategic changes has Myriad Genetics made?
Myriad Genetics has reorganized its European operations, selling and licensing products like EndoPredict to Eurobio Scientific, to better focus on domestic opportunities and support international partners.
How did Myriad Genetics perform financially in the first quarter of 2024?
The company reported double-digit revenue growth, significant reduction in net loss, and achieved positive adjusted EBITDA, with notable gains in hereditary cancer and prenatal testing markets.
What are the strategic imperatives of Myriad Genetics?
Myriad Genetics focuses on maintaining leadership in hereditary cancer, diversifying its product portfolio, and increasing revenue from international markets.
Which new panel has Myriad Genetics recently introduced?
Myriad Genetics recently introduced the Universal Plus Panel to its Foresight® Carrier Screen, which includes 39 conditions and screens up to 272 genes associated with serious inherited conditions.
What is Myriad Genetics' approach to oncology?
Myriad Genetics offers comprehensive germline and somatic testing under its Precise Oncology Solutions portfolio, including tests like MyRisk, Prolaris, EndoPredict, and FDA-approved companion diagnostics.
Where can I find more information about Myriad Genetics?
For more information about Myriad Genetics and its products, visit their official website at www.myriad.com.
What is the purpose of the MyRisk test?
The MyRisk test is designed to identify elevated risks for developing 11 types of cancer through a comprehensive 48-gene panel.
How does Myriad Genetics support mental health treatment?
Myriad Genetics supports mental health treatment through GeneSight, a test that helps optimize the response to psychotropic drugs for patients with depression.
Myriad Genetics Inc
Nasdaq:MYGN
MYGN Rankings
MYGN Stock Data
1.11B
89.03M
2.01%
102.43%
3.68%
Diagnostics & Research
In Vitro & in Vivo Diagnostic Substances
United States of America
SALT LAKE CITY