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. (MYGN) is a leader in molecular diagnostics and precision medicine, developing genetic tests that inform critical healthcare decisions across oncology, hereditary cancer risk assessment, and reproductive health. This news hub provides investors and healthcare professionals with timely updates on the company's scientific advancements, regulatory milestones, and strategic initiatives.
Access official press releases and third-party analysis covering MYGN's financial results, product innovations, and clinical collaborations. Our curated collection includes updates on diagnostic test approvals, partnership announcements with healthcare systems, and developments in personalized treatment solutions. All content is organized chronologically for efficient tracking of the company's progress in genetic testing technologies.
Key areas of focus include updates to Myriad's hereditary cancer screening panels, advancements in tumor profiling accuracy, and expansions in pharmacogenomic testing capabilities. The page also tracks regulatory submissions and peer-reviewed study publications validating the company's diagnostic approaches.
Bookmark this page for streamlined access to Myriad Genetics' latest developments in DNA-based health solutions. Check regularly for updates on how MYGN continues shaping precision medicine landscape through innovative diagnostic technologies and evidence-based clinical tools.
Myriad Genetics reveals significant findings about mental health medication perceptions through their GeneSight Mental Health Monitor survey. While 89% of Americans with depression/anxiety believe in medication effectiveness, 52% avoid taking them due to side effect concerns.
The survey highlights that 54% of patients believe genetic testing (pharmacogenomic/PGx testing) could reduce medication concerns. Notably, 62% of diagnosed patients whose providers didn't use PGx testing wish they had been informed about it.
The study also shows strong social acceptance of mental health medications, with 67% agreeing it's socially acceptable to take them, and 66% having positive views of others using such medications. Patients rate mental health medication effectiveness similarly to treatments for high blood pressure (94%), high cholesterol (90%), and arthritis (84%).
Myriad Genetics has scheduled its first quarter 2025 earnings conference call for May 6, 2025, at 4:30 pm EDT. The company will release its Q1 2025 financial results after market close on the same day.
Investors can access the live webcast through investor.myriad.com. To join via telephone, participants must register to receive a dial-in number and unique PIN.
Additionally, Myriad's management will participate in two major healthcare investor conferences:
- BofA Securities 2025 Health Care Conference - Fireside chat on May 14, 2025, at 3:00 pm EDT
- Goldman Sachs 46th Annual Global Healthcare Conference - Fireside chat on June 11, 2025, at 2:00 pm EDT
Both conference presentations will be available for viewing through live and archived webcasts on the company's investor relations website.
Myriad Genetics (NASDAQ: MYGN) announced new clinical data for their Precise™ MRD test in oligometastatic clear-cell renal cell carcinoma (ccRCC) patients at the AACR Annual Meeting. The study, presented by Dr. Chad Tang from MD Anderson Cancer Center, demonstrated that metastasis-directed radiation therapy helped patients delay or avoid systematic treatments while maintaining high survival rates of 94% at two years and 87% at three years.
The research showed that patients testing positive on Precise MRD initiated systemic therapy within a median of 27 months, while MRD-negative patients maintained on radiation therapy for 54 months. The test identified over 50% of patients as MRD-positive at baseline, demonstrating superior detection capabilities in ccRCC's challenging low tumor fractions compared to first-generation tests.
Additional research presented includes optimization of tumor-informed MRD panels and the benefits of including INDEL mutations for improved detection sensitivity. Precise MRD is currently available for research studies in partnership with academic and pharmaceutical investigators.
Myriad Genetics (NASDAQ: MYGN) announced positive results from a study published in the Journal of Clinical Psychopharmacology regarding their GeneSight® Psychotropic Test for major depressive disorder patients. The study revealed:
- An almost 40% relative reduction in prescriptions with significant gene-drug interactions
- 39% relative reduction in psychiatric-related hospitalizations
- 29% relative reduction in overall hospitalizations
Patients switched to medications with no/moderate gene-drug interactions showed a 44% reduction in psychiatric hospitalizations and 34% reduction in overall hospitalizations. The study suggests GeneSight helps healthcare providers better identify effective medications and reduce trial-and-error prescribing.
Myriad Genetics (NASDAQ: MYGN) announced equity inducement awards for their newly appointed chief commercial officer, Mr. Donnelly. The compensation package includes:
- Total restricted stock units worth $3.75 million
- $2 million in time-based RSUs vesting equally over 4 years
- $1.75 million in performance-based PSUs tied to stock price targets
The exact number of units will be determined based on MYGN's closing price on April 30, 2025. The PSUs will vest in 25% increments upon reaching specific stock price milestones, with no vesting possible before the first employment anniversary. These awards were granted under Nasdaq Listing Rule 5635(c)(4) as material inducement for employment.
Myriad Genetics (NASDAQ: MYGN) has appointed Brian Donnelly as its new Chief Commercial Officer (CCO), effective May 1, 2025. Donnelly brings over 20 years of experience in healthcare, diagnostics, and medical technology, with a history of managing multi-billion-dollar P&Ls and driving growth through innovative strategies.
The appointment was announced by Sam Raha, incoming president and CEO, who highlighted Donnelly's strategic vision and operational excellence. Prior to joining Myriad, Donnelly held senior commercial and general management positions at Ancestry, Amazon, and Illumina, where he successfully drove business growth across global markets and product lines.
Myriad Genetics (NASDAQ: MYGN) has announced a collaboration with Gabbi, a telehealth provider specializing in breast cancer risk assessment. The partnership will integrate Gabbi's telehealth risk assessment program and specialist care services with Myriad's MyRisk® with RiskScore® Hereditary Cancer Test.
Through this collaboration, Gabbi's platform will provide logistics and educational support for breast cancer risk assessment, connecting high-risk patients with clinicians for evaluation using the MyRisk test. The test's precision science enables 53% of patients to qualify for medical management changes, such as increased frequency of mammograms or MRI imaging.
Myriad Genetics (NASDAQ: MYGN) announced key leadership changes effective April 30, 2025. Sam Raha, the current COO, will become President and CEO, replacing Paul J. Diaz, who is stepping down to join Cressey & Company as Managing Partner. Diaz will continue as a consultant to Raha and the Board for one year.
Additionally, Mark S. Verratti, currently Chief Commercial Officer, will be promoted to COO concurrent with Raha's appointment. The company has initiated a search for a new CCO.
Raha, who joined Myriad in December 2023, has been instrumental in shaping the company's long-term growth strategy and operational excellence. The Board's decision follows a robust succession planning process, emphasizing Raha's deep diagnostics industry experience as important for Myriad's continued growth in molecular diagnostics testing and precision medicine.
Myriad Genetics (NASDAQ: MYGN) reported fourth quarter 2024 revenue of $211 million, up 7% year-over-year, and full-year revenue of $838 million, representing 11% growth. The company achieved strong performance in Pharmacogenomics (14% growth) and Prenatal testing (12% growth).
Q4 GAAP gross margin improved to 71.7%, up 300 basis points year-over-year. However, the company reported Q4 and full-year 2024 GAAP net losses of $(43) million and $(127) million respectively. Adjusted EBITDA was $11 million for Q4 and $40 million for the full year.
The company announced a strategic collaboration with PATHOMIQ for AI technology in prostate cancer diagnostics and reiterated its 2025 guidance with revenue of $840-860 million and adjusted EPS of $0.07-$0.11. Additionally, COO Sam Raha will succeed Paul J. Diaz as CEO effective April 30, 2025.
Myriad Genetics (NASDAQ: MYGN) has entered into a strategic collaboration with PATHOMIQ to exclusively license PATHOMIQ_PRAD, an AI technology platform for prostate cancer, in the United States. The partnership enhances Myriad's Oncology Solutions by combining molecular and AI-powered testing capabilities to inform treatment decisions for prostate cancer patients.
PATHOMIQ_PRAD's AI model delivers results within 1-2 days of receiving digital images and has demonstrated high prediction accuracy in both Caucasian and African American patient cohorts. The platform complements Myriad's existing Prolaris® Prostate Cancer Prognostic Test and can predict disease recurrence after initial therapy.
The collaboration aims to accelerate achieving Simon level 1 evidence for both tests. While currently specific for post-surgical prostate cancer patients, the foundational model has potential applications across all solid tumor cancers diagnosed through H&E staining biopsies. Myriad plans to launch its first AI-driven prostate cancer clinical test later in 2025.
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