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. (NASDAQ: MYGN) to participate in Stephens Annual Investment Conference for a fireside chat on November 15 at 2:00 p.m. ET. Live and archived webcast available on www.myriad.com
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Myriad Genetics, Inc. (NASDAQ: MYGN) announced the pricing of an upsized underwritten public offering of 6,470,588 shares of its common stock at a public offering price of $17.00 per share for expected gross proceeds of approximately $110 million. The Company also granted the underwriters a 30-day option to purchase up to an additional 970,588 shares of its common stock at the public offering price. The offering is expected to close on November 13, 2023. The net proceeds will be used to repay outstanding loans, settle a class action, and for general corporate purposes.
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Myriad Genetics, Inc. (NASDAQ: MYGN) announced a public offering of $100.0 million of common stock, with an option for underwriters to purchase an additional $15.0 million. The proceeds will be used to repay outstanding loans, settle a class action lawsuit, and for general corporate purposes.
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Myriad Genetics, a leader in genetic testing and precision medicine, reported strong financial results for the third quarter of 2023. Testing volumes grew across various categories, including hereditary cancer, prenatal, and pharmacogenomics. Revenue increased by 23% year-over-year, reaching $191.9 million. The company also raised its 2023 revenue guidance to between $747 million and $753 million, representing 10% - 11% growth over 2022. Additionally, Myriad Genetics introduced its 2024 revenue guidance of between $815 million and $835 million, showing continued growth in the coming year.
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Myriad Genetics, Inc. has appointed Sam Raha as Chief Operating Officer (COO), effective December 11, 2023. Raha brings over 25 years of experience in general management, commercial, and operations in the life sciences and molecular diagnostics field. As COO, he will oversee lab operations, customer service, and product development. Raha's appointment is expected to contribute to Myriad's long-term growth strategy and operational excellence.
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Myriad Genetics, Inc. will hold its third quarter earnings conference call on November 6, 2023 at 4:30 p.m. EDT. The company's quarterly earnings will be released the same day after the market closes. During the call, Myriad management will provide a financial overview and business update of the company's performance for the third quarter 2023.
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QIAGEN and Myriad Genetics have announced a new master collaboration agreement to develop companion diagnostic tests in the field of cancer. The partnership aims to deliver innovative services and products to pharmaceutical companies, enabling the development and commercialization of proprietary cancer tests for the U.S. clinical market, and providing distributable companion diagnostic test kits for the global market.
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A survey by Myriad Genetics reveals that breast density and family health history are misunderstood breast cancer risk factors. 48% of women surveyed do not know what breast density is and 50% are unsure if it is related to breast cancer risk. Women with dense breast tissue are up to four times more likely to develop breast cancer. The FDA has updated mammography regulations requiring facilities to notify patients about breast density by September 2024.
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Myriad Genetics announces survey results revealing breast density and family health history as misunderstood breast cancer risk factors. Women with dense breasts are up to four times more likely to develop breast cancer. FDA requires mammography facilities to notify patients about breast density. Genetic testing can provide personalized cancer risk assessment. Lisa Wade's experience highlights the importance of genetic testing in detecting hidden cancer.
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Myriad Genetics announces key milestones in partnership with Illumina to advance gene-based therapies
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FAQ
What is the current stock price of Myriad Genetics (MYGN)?
The current stock price of Myriad Genetics (MYGN) is $15.49 as of November 22, 2024.
What is the market cap of Myriad Genetics (MYGN)?
The market cap of Myriad Genetics (MYGN) is approximately 1.4B.
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
1.41B
89.02M
2.02%
102.23%
4.94%
Diagnostics & Research
In Vitro & in Vivo Diagnostic Substances
United States of America
SALT LAKE CITY