Core Insights - Myriad Genetics, Inc. is focusing on innovation in Oncology, Women's Health, and Pharmacogenomics, with significant investments in labs and digital capabilities [1][4][6] - The company's growth strategy in Oncology includes expanding companion diagnostics, new clinical guidelines, and new offerings, supported by key partnerships [1][7][10] - Despite a challenging macroeconomic environment and increasing competition, Myriad Genetics has shown strong performance in earnings, surpassing estimates consistently [2][11][12] Company Performance - Myriad Genetics' shares have decreased by 31% over the past year, while the industry fell by 8.3% and the S&P 500 gained 28.5% [2] - The company has a market capitalization of $1.31 billion and has delivered an average earnings surprise of 247.73% over the last four quarters [2] Strategic Initiatives - The company has invested over $75 million in advanced labs and technologies over the past three years, enhancing operational capabilities [6] - Myriad Genetics plans to launch the first MRD commercial test for breast cancer in the first half of 2026 and is engaged with biopharma companies for MRD sample testing [8][9] Revenue Growth - GeneSight revenue per test has improved year-over-year and quarter-over-quarter, driven by strong provider demand and improved payer coverage [5] - The Zacks Consensus Estimate for 2024 revenues is projected at $846.6 million, indicating a 12.4% increase from the previous year [13] Competitive Landscape - Myriad Genetics faces increasing competition in its BRACAnalysis market, with technological advancements from competitors potentially impacting pricing and margins [12] - The company is enhancing its intellectual property position through partnerships and patent acquisitions, which may help mitigate competitive pressures [7][10]

Company Updates - Myriad Genetics has updated its agreement with Illumina to include its Genomic Instability Score (GIS) in all samples analyzed with Illumina's TruSight Oncology 500 v2 assay, enhancing the accessibility of GIS as a potential companion diagnostic across multiple tumor types [1][2] - Following the announcement, Myriad Genetics' stock (MYGN) rose by 3.2%, closing at $15.49, indicating positive market sentiment towards the company's diagnostic solutions [3] - The company currently has a market capitalization of $1.41 billion, with earnings expected to surge by 144.4% in 2024, alongside an 11.7% increase in revenues [4] Product Significance - Myriad's MyChoice CDx test helps identify patients with tumors that cannot repair double-stranded DNA breaks, making them more susceptible to DNA-damaging drugs, thus broadening clinical research opportunities and driving companion diagnostic development for HRD-based therapies [5] - The inclusion of GIS in the Precise Tumor clinical reports is anticipated to strengthen Myriad Genetics' oncology product portfolio [6] Industry Prospects - The global oncology companion diagnostic (CDx) market was valued at $4.78 billion in 2023 and is projected to grow at a compound annual growth rate of 8.7% through 2030, driven by the increasing prevalence of cancer and the rising emphasis on personalized medicine [7]

Myriad Genetics, Inc. (MYGN) recently made SneakPeek available over the counter in more than 8,800 retail locations nationwide. SneakPeek is the first at-home early fetal sex test for use at six weeks, now available on shelves in Walmart, Walgreens and CVS stores. Through the SneakPeek test, Myriad Genetics is on a mission to make DNA-based prenatal information affordable and accessible for all families.MYGN Stock Movement Following the NewsFollowing the news, shares of MYGN fell 2.4% to $15.78 at yesterday ...

Myriad Genetics, Inc. (NASDAQ:MYGN) Q3 2024 Earnings Conference Call November 7, 2024 4:30 PM ET Company Participants Matt Scalo - Senior Vice President of Investor Relations Paul Diaz - President and Chief Executive Officer Scott Leffler - Chief Financial Officer Sam Raha - Chief Operating Officer Mark Verratti - Chief Commercial Officer Conference Call Participants Douglas Schenkel - Wolfe Research Puneet Souda - Leerink Partners Prashant Kota - Goldman Sachs Subu Nambi - Guggenheim Partners Sung Ji Nam - ...

Core Viewpoint - Myriad Genetics, Inc. reported better-than-expected earnings and revenues for Q3 2024, driven by strong growth across its product portfolios, although the company still faced an operating loss during the quarter [8][10]. Financial Performance - Adjusted earnings for Q3 2024 were 6 cents per share, surpassing the Zacks Consensus Estimate of 2 cents, compared to a loss of 3 cents per share in the same quarter last year [1]. - Total revenues increased by 11% year over year to $213.3 million, exceeding the Zacks Consensus Estimate by 1.7% [3]. - Testing volumes rose by 6% year over year [3]. Revenue Breakdown - Hereditary Cancer testing revenues grew by 5% year over year to $90.5 million [4]. - Pharmacogenomics testing revenues reached $47.7 million, marking a 34% increase year over year [4]. - Tumor Profiling testing revenues increased by 5% year over year to $31.6 million [4]. - Prenatal testing revenues amounted to $43.5 million, up 10% year over year [4]. Margin and Expenses - Gross margin expanded by 24 basis points to 70.2% [5]. - Research and development expenses rose by 18.8% year over year to $28.5 million [5]. - Selling, general and administrative (SG&A) expenses increased by 2.2% to $139.1 million [5]. - The adjusted operating loss was $17.8 million, an improvement from a loss of $25.8 million in the previous year [5]. Financial Position - Cash and cash equivalents at the end of Q3 2024 were $99.9 million, up from $92.4 million at the end of Q2 2024 [6]. - Long-term debt was $39 million, slightly up from $38.8 million at the end of Q2 2024 [6]. - Cumulative net cash used in operating activities was $15.3 million, significantly reduced from $56.2 million in the year-ago period [6]. Guidance - The company updated its 2024 revenue guidance to a range of $837-$843 million, indicating 11-12% growth year over year, while the previous guidance was $835-$845 million [7]. - Adjusted EPS guidance was raised to a range of 12-14 cents, up from the earlier projection of 8-12 cents [7]. Strategic Developments - Myriad Genetics established additional research collaborations with leading cancer research institutions, enhancing its research capabilities [9]. - The company expanded payor coverage for several products, including GeneSight, which may improve market access and revenue potential [9].

UNITED STATES _________________________________________ _________________________________________ _________________________________________ _________________________________________ Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.01 par value MYGN Nasdaq Global Select Market SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________ FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITI ...

Myriad Genetics (MYGN) reported $213.3 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 11.2%. EPS of $0.06 for the same period compares to -$0.03 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $209.82 million, representing a surprise of +1.66%. The company delivered an EPS surprise of +200.00%, with the consensus EPS estimate being $0.02.While investors closely watch year-over-year changes in headline numbers -- revenue and earn ...

Myriad Genetics (MYGN) came out with quarterly earnings of $0.06 per share, beating the Zacks Consensus Estimate of $0.02 per share. This compares to loss of $0.03 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 200%. A quarter ago, it was expected that this molecular diagnostic company would post a loss of $0.01 per share when it actually produced earnings of $0.05, delivering a surprise of 600%.Over the last four quarters, t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Delaware 0-26642 87-0494517 (State or other jurisdiction of incorporation)(Commission File Number)(IRS Employer Identification No.) Title of each classTrading Symbol(s) Name of each exchange on which registered Common Stock, $0.01 par value MYGN Nasdaq Global Select Market FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 9, 2024 MYRIA ...

Highlights Third quarter revenue grew 11% year-over-year to $213 million, driven by Pharmacogenomics (34%) and Prenatal (10%) and progress on payor coverage and revenue cycle initiatives.Third quarter GAAP net loss improved to $22.1 million from a loss of $61.3 million in the third quarter of 2023 on improved revenue, gross margins and disciplined management of operating expenses. Third quarter adjusted EBITDA increased to $14.1 million from $1.4 million in third quarter of 2023.Third quarter GAAP loss per ...