On Monday, in its earnings release, Myriad Genetics Inc. MYGN said Unitedhealth Group Inc’s UNH UnitedHealthcare will stop covering multi-gene panel pharmacogenetic testing, including Myriad Genetics’ GeneSight test, for its commercial, individual exchange, and certain managed Medicaid plans. This change takes effect in the first half of 2025.In 2024, Myriad Genetics earned about $45 million from GeneSight testing through UnitedHealthcare, with $40 million from commercial plans and $5 million from managed M ...

Myriad Genetics, Inc. (MYGN) reported fourth-quarter 2024 adjusted earnings of 3 cents per share, which came in line with the Zacks Consensus Estimate. The company reported earnings of 4 cents per share in the year-ago quarter.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Adjusted earnings exclude amortization expenses from acquired intangible assets, equity compensations and real estate optimization. The GAAP loss was 47 cents compared with the prior-year quarter’s loss of 36 cents ...

Myriad Genetics, Inc. (NASDAQ:MYGN) Q4 2024 Results Conference Call February 24, 2025 4:30 PM ET Company Participants Matt Scalo - Senior Vice President of Investor Relations Paul Diaz - President and Chief Executive Officer Sam Raha - Chief Operating Officer Mark Verratti - Chief Commercial Officer Scott Leffler - Chief Financial Officer Conference Call Participants Madeline Mollman - Wolfe Research Will Ortmayer - Goldman Sachs Madison Pasterchick - Morgan Stanley Tycho Peterson - Jefferies Sung Ji Nam - ...

Group 1 - Myriad Genetics reported quarterly earnings of $0.03 per share, matching the Zacks Consensus Estimate, compared to $0.04 per share a year ago [1] - The company posted revenues of $210.6 million for the quarter ended December 2024, exceeding the Zacks Consensus Estimate by 0.22%, and up from $196.6 million year-over-year [2] - Myriad has surpassed consensus revenue estimates four times over the last four quarters [2] Group 2 - The stock's immediate price movement will depend on management's commentary during the earnings call [3] - Myriad shares have increased approximately 3.4% since the beginning of the year, outperforming the S&P 500's gain of 2.2% [3] Group 3 - The earnings outlook for Myriad is uncertain, with current consensus EPS estimates at breakeven on $212.75 million in revenues for the coming quarter and $0.09 on $859.09 million in revenues for the current fiscal year [7] - The estimate revisions trend for Myriad is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Group 4 - The Medical - Biomedical and Genetics industry is currently in the top 26% of Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions [5]

Myriad Genetics Announces Select Preliminary Fourth Quarter and Full Year 2024 Financial Results and Introduces Full Year 2025 Financial Guidance SALT LAKE CITY, January 15, 2025 – Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in genetic testing and precision medicine, today announced select unaudited preliminary results for the fourth quarter and full year ended December 31, 2024, and provided full year 2025 financial guidance. Select Preliminary Fourth Quarter and Full Year 2024 Financial Results Exhibit ...

Core Viewpoint - Myriad Genetics, Inc. has appointed Sam Raha as the new CEO effective April 30, 2025, succeeding Paul J. Diaz, who will transition to a consulting role for one year [1][2]. Leadership Transition - Sam Raha, currently the COO, has been recognized for his role in shaping the company's long-term growth strategy since joining in December 2023 [2]. - The Board of Directors expressed confidence in Raha's leadership, emphasizing his extensive background in the diagnostics industry [2]. - Paul J. Diaz has been credited with transforming Myriad over the past four-and-a-half years, enhancing its brand and operational capacity [2][3]. Future Strategy - Raha aims to accelerate the company's growth and profitability through innovation and a comprehensive portfolio, while focusing on patient needs and healthcare providers [2]. - The company is also in the process of searching for a new Chief Commercial Officer (CCO) following the promotion of Mark S. Verratti to COO [1][2]. Company Background - Myriad Genetics specializes in molecular diagnostics testing and precision medicine, aiming to improve patient care and reduce healthcare costs through its molecular tests [4].

Core Insights - Myriad Genetics reported a revenue growth of 11% in 2024 compared to 2023, marking the second consecutive year of double-digit growth, with an adjusted EBITDA of $40 million [3][7] - The company reaffirmed its financial guidance for 2025, projecting revenue between $840 million and $860 million, which reflects a growth of 9% to 11% over 2024 [7][18] Financial and Operational Highlights - In Q4 2024, Myriad Genetics generated revenue of $211 million, a 7% increase year-over-year, driven by strong demand in Pharmacogenomics (14% growth) and Prenatal testing (12% growth) [7][12] - Test volumes reached 374,000 in Q4 2024, representing a 4% increase year-over-year [6] - The GAAP gross margin for Q4 2024 was 71.7%, up 300 basis points from the previous year, attributed to improved revenue per test and greater laboratory efficiencies [7] Business Performance by Segment - The Oncology segment generated $82.8 million in revenue during Q4 2024, with hereditary cancer testing revenue growing by 8% year-over-year [9][10] - The Women's Health segment reported revenue of $87.2 million in Q4 2024 [12] - In Pharmacogenomics, GeneSight test revenue was $40.6 million in Q4 2024 [13] Strategic Initiatives - Myriad Genetics entered a strategic collaboration with PATHOMIQ to integrate AI technology into its Oncology portfolio, enhancing its prostate cancer offerings [7][10] - The company announced a five-year strategic alliance with The University of Texas MD Anderson Cancer Center to accelerate the clinical evaluation of its molecular residual disease (MRD) assay [16] Cash Flow and Liquidity - As of December 31, 2024, Myriad had cash and cash equivalents of $102 million, with total liquidity of approximately $158 million [14][14] Future Outlook - The company is optimistic about 2025, anticipating contributions from recent product launches, including Prequel with 8-week Gestational Age and Precise Tumor [4][18] - Myriad plans to commercially launch its first AI-driven prostate cancer test later in 2025, which will complement its existing offerings [10][11]

Core Viewpoint - Myriad Genetics and PATHOMIQ have entered a strategic collaboration for Myriad to exclusively license PATHOMIQ_PRAD, an AI technology platform for prostate cancer, in the United States [1][5]. Group 1: Collaboration Details - The partnership aims to enhance Myriad's Oncology Solutions by integrating PATHOMIQ_PRAD, providing urologists and radiation oncologists with advanced molecular and AI-powered testing solutions [2][3]. - Myriad's existing offerings will be complemented by this collaboration, which aligns with NCCN guidelines for prostate cancer care [2]. Group 2: Technology and Innovation - PATHOMIQ's AI platform decodes complex morphological structures in cancer pathology, enabling rapid deployment of new use cases to predict patient outcomes and treatment responses [3][4]. - The AI model has demonstrated high prediction accuracy, outperforming existing markers in both Caucasian and African American patient cohorts [4]. Group 3: Market Impact and Future Plans - Myriad plans to commercially launch its first AI-driven prostate cancer clinical test later in 2025, aiming to provide personalized treatment options [5][10]. - The collaboration is expected to accelerate the development timelines for clinical validation of both Prolaris and PATHOMIQ_PRAD tests [4].

Core Points - Myriad Genetics, Inc. has been recognized on Forbes' list of America's Best Employers 2025, highlighting its status as a leader in genetic and genomic tumor testing and precision medicine [1][2] - The company received positive feedback from its employees, with 84% stating it is a Great Place To Work, which is 27 percentage points higher than the average U.S. company [2] - The selection process for the Forbes list involved an independent survey of over 217,000 U.S. employees from companies with at least 1,000 employees, considering more than 6.5 million employer evaluations [3] Company Overview - Myriad Genetics specializes in genetic tests that assess disease risk and guide treatment decisions, aiming to improve patient care and reduce healthcare costs [6] - The company is dedicated to advancing health and well-being for all through innovative solutions [2][6]

Core Points - Myriad Genetics, Inc. has been recognized on Forbes' list of America's Best Employers 2025, highlighting its status as a leader in genetic and genomic tumor testing and precision medicine [1][2] - The company received positive feedback from its employees, with 84% stating it is a Great Place To Work, which is 27 percentage points higher than the average U.S. company [2] Summary by Sections Company Recognition - Myriad Genetics has been included in the prestigious Forbes list, which is a significant accolade for the company [1] - The recognition is based on an independent survey conducted by Forbes and Statista, involving over 217,000 U.S. employees from companies with at least 1,000 employees [3] Employee Satisfaction - The chief people officer of Myriad Genetics emphasized the company's commitment to innovation and employee empowerment [2] - The high percentage of employees who view the company positively indicates a strong workplace culture [2] Survey Methodology - The selection process for America's Best Employers involved more than 6.5 million employer evaluations, focusing on personal evaluations from employees and public evaluations from friends and family [3] Company Overview - Myriad Genetics specializes in genetic tests that assess disease risk and guide treatment decisions, aiming to improve patient care and reduce healthcare costs [6]