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 ...

Core Insights - Myriad Genetics reported a third quarter revenue growth of 11% year-over-year, reaching $213 million, driven by strong performance in Pharmacogenomics (34%) and Prenatal (10%) testing [1][3][4] - The company improved its GAAP net loss to $22.1 million from $61.3 million in the same quarter last year, alongside an increase in adjusted EBITDA to $14.1 million from $1.4 million [1][3][4] - Updated financial guidance for 2024 indicates expected full-year revenue between $837 million and $843 million, with adjusted earnings per share projected to be between $0.12 and $0.14 [1][3][16] Financial Performance - Test volumes increased by 6% year-over-year, totaling 376,000 tests in the third quarter of 2024 [4] - Revenue breakdown for core product categories shows: - Hereditary cancer: $90.5 million (5% increase) - Tumor profiling: $31.6 million (5% increase) - Prenatal: $43.5 million (10% increase) - Pharmacogenomics: $47.7 million (34% increase) [6][8][12] - Gross margin improved to 70.2%, reflecting operational leverage and better average revenue per test [6][12] Business Developments - Myriad Genetics entered a collaboration with Flatiron Health to integrate MyRisk Hereditary Cancer Test into their EMR platform [8] - The company received a third patent for methods related to ultra-sensitive detection of tumor-specific mutations, supporting its commercialization efforts for the MRD assay [9] - A strategic partnership with jscreen aims to enhance access to genetic testing for high-risk populations [11] Challenges and Regulatory Updates - UnitedHealthcare announced it will discontinue coverage for multi-gene panel pharmacogenetic testing, including GeneSight, effective January 1, 2025, which generated approximately $10 million in revenue in the third quarter [1][13] - Myriad Genetics is actively engaging with UnitedHealthcare to provide additional clinical evidence for GeneSight and seeks to ensure continued access for patients [13][14] Cash Flow and Liquidity - The company reported an increase in cash and cash equivalents by $8.6 million, with total liquidity of $148.7 million as of the end of the third quarter [14]

NEW YORK, Nov. 6, 2024 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Myriad Genetics, Inc. ("Myriad" or "the Company") (NASDAQ: MYGN). Investors who purchased Myriad securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/MYGN.Investigation DetailsOn October 31, 2024, it was revealed that UnitedHealth Group ("UnitedHealth") would no longer cover Ge ...

SALT LAKE CITY, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc., (NASDAQ: MYGN), a leader in genetic testing and precision medicine, was informed on Friday, November 1, 2024, of an updated medical policy from UnitedHealthcare restricting access to multi-gene panel pharmacogenetic tests, including Myriad’s GeneSight test, under its commercial and individual exchange benefit plans, effective January 1st, 2025. After initial review of the updated policy, the company strongly disagrees with UnitedHealth ...

SALT LAKE CITY, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in genetic testing and precision medicine, will hold its third quarter earnings conference call on Thursday, November 7, 2024 at 4:30 pm ET. 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 2024. A live webcast of the earnings conferenc ...

Myriad Genetics, Inc. (MYGN) has announced a strategic partnership with jscreen, a national organization focused on genetic education and preventative testing for high-risk populations.This collaboration merges Myriad’s advanced hereditary cancer and reproductive genetic products, MyRisk with RiskScore and Foresight Carrier Screen, with jscreen’s well-established education and care navigation platform. Through this alliance, the organizations aim to reach hundreds of thousands of individuals across the Unit ...

Myriad Genetics, Inc. (MYGN) recently announced a joint effort with Ultima Genomics, Inc. to explore its UG 100 sequencing platform and ppmSeq technology. The collaboration will help advance the company’s ability to offer groundbreaking clinical tests in oncology and reproductive genomics.Myriad Genetics has purchased a new UG 100 platform that will soon join other leading sequencing platforms in its new Lab of the Future facility in South San Francisco. The low-cost, low-error sequencing achievable on the ...

SALT LAKE CITY, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc., (NASDAQ: MYGN), a leader in genetic testing and precision medicine, today announced a series of ongoing research collaborations to study the use of molecular residual disease (MRD) testing in breast cancer using Myriad’s Precise® MRD test. Research collaborations include: A study to determine whether circulating tumor DNA (ctDNA) level may predict magnitude of response to pembrolizumab and hormonal therapy in patients with HR-positive ...

SALT LAKE CITY and FREMONT, Calif., Oct. 03, 2024 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc., (NASDAQ: MYGN), a leader in genetic testing and precision medicine, and Ultima Genomics, Inc., a developer of a revolutionary new ultra-high throughput next-generation sequencing (NGS) platform, today announced a joint effort to explore Ultima’s UG 100™ sequencing platform and its ppmSeq™ technology to advance Myriad’s ability to offer groundbreaking clinical tests. Myriad has purchased a new UG 100 that will soon j ...