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 has acquired Gateway Genomics for $67.5 million, enhancing its Women's Health portfolio. This acquisition incorporates the popular SneakPeek Early Gender DNA Test, which reveals a baby's gender as early as 6 weeks into pregnancy with 99% accuracy. The move aims to broaden access to personalized genetic tests, serving a market of approximately 3.6 million annual births in the U.S. SneakPeek is projected to grow at a rate above 20% in the next few years. The deal is expected to be neutral to Myriad's earnings in 2023 and accretive in 2024.
Myriad Genetics (MYGN) reported third-quarter 2022 revenue of $156.4 million, down 2% year-over-year, impacted by currency translations and a non-recurring milestone payment. Testing volumes, excluding divested businesses, rose 12% year-over-year, with significant growth in GeneSight tests (34%) and hereditary cancer testing (4%). The company announced the acquisition of Gateway Genomics for $67.5 million, expected to enhance future growth. Updated guidance reflects a revenue estimate of $668 - $672 million and a higher EPS loss forecast of $(1.35) - $(1.30).
Myriad Genetics (NASDAQ: MYGN) has elected Paul M. Bisaro to its Board of Directors, effective immediately. Bisaro brings extensive experience from his 27-year career in the pharmaceutical industry, including roles as executive chairman of Amneal Pharmaceuticals and CEO of Impax Laboratories. His expertise is seen as pivotal for shaping Myriad's future and enhancing shareholder value. Louise Phanstiel, Chair of the Board, emphasized the significance of Bisaro's appointment during this transformative period for the company.
Myriad Genetics (NASDAQ: MYGN) will hold its third-quarter earnings conference call on Nov. 1, 2022, at 4:30 p.m. ET. Earnings will be released prior to market opening that day. Key executives, including CEO Paul J. Diaz and CFO R. Bryan Riggsbee, will discuss business performance for the period ending Sept. 30, 2022. Domestic callers can reach the event at 1-800-954-0689, while international callers may dial 1-212-231-2937. A live webcast will be available at www.myriad.com. Myriad specializes in genetic tests to improve patient care and reduce healthcare costs.
Myriad Genetics (NASDAQ: MYGN) announced that the EndoPredict test has been clinically validated to identify premenopausal women with ER+, HER2- breast cancer who can safely avoid adjuvant chemotherapy. Published in Clinical Cancer Research, the study involved 385 tumor samples and showed that 97% of low-risk patients achieved distant recurrence-free survival (DRFS) compared to 76% in high-risk patients. Additionally, 19% of node-positive women with low-risk scores achieved 100% DRFS, affirming the test's efficacy in personalizing treatment plans.
Myriad Genetics announced that Japan’s Ministry of Health, Labour and Welfare has expanded coverage for its BRACAnalysis Diagnostic System to identify patients with germline BRCA-mutated and HER2-negative high-risk recurrent breast cancer. This coverage enables more patients in Japan to access BRCA1/2 testing, enhancing treatment decisions. The BRACAnalysis test is instrumental in guiding treatment options based on Phase III trial data demonstrating significant improvements in invasive disease-free survival for patients using Lynparza.
Myriad Genetics (NASDAQ: MYGN) announced partnerships with Institut für Hämopathologie Hamburg (HPH) and Centre Georges-Francois LeClerc (CGFL) to expand access to MyChoice® CDx Plus testing in Germany and France. This CE-IVD-marked diagnostic test identifies Homologous Recombination Deficiency (HRD) in ovarian cancer patients, aiding in the selection of PARP inhibitor therapy. Myriad aims to enhance patient access to genetic testing and plans further international laboratory collaborations.
Myriad Genetics reported second-quarter 2022 revenue of $179.3 million, a 7% increase year-over-year, with adjusted earnings per share (EPS) of $0.04. Excluding divested businesses, revenue grew 9% sequentially. The company updated its fiscal year 2022 guidance, anticipating revenue of $670-$700 million and an adjusted EPS loss of $(1.10) - $(1.00). Despite challenges including inflation, significant growth in the Mental Health sector was noted, with GeneSight test volumes up 39% year-over-year. Ended the quarter with $283.6 million in cash.
Myriad Genetics (NASDAQ: MYGN) is set to release its Q2 earnings on August 4, 2022, prior to market opening, followed by a conference call at 4:30 PM EDT. Key executives, including CEO Paul J. Diaz, will discuss the company's financial performance and updates for the period ending June 30, 2022. Additionally, an Investor Day is scheduled for August 11, 2022, focusing on strategic growth opportunities and the R&D pipeline.
Myriad is recognized for its contributions to genetic testing and precision medicine, and was named among Fast Company’s World’s Most Innovative Companies for 2022.
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