Myriad Genetics Stock Price, News & Analysis

Myriad Genetics (MYGN) reported a Q1 2022 revenue of $164.9 million, an 11% increase year-over-year. The company achieved diluted GAAP EPS of $(0.26) and adjusted EPS of $(0.03>, improving by $0.26 and $0.03 respectively. Cash and investments totaled $339.2 million at the end of the quarter. The Oncology segment generated $69.8 million in revenue, while Women’s Health saw a 19% increase to $65.5 million. Partnerships and new products, including the Precise Tumor test, were highlighted as keys to future growth in the sector.

Myriad Genetics (NASDAQ: MYGN) will showcase its transformation and growth plan at the Bank of America Securities 2022 Healthcare Conference on May 11, 2022, at 2:20 p.m. EDT. Paul J. Diaz, president and CEO, will lead the discussion. The presentation will be accessible through a live audio webcast available on Myriad's website, aimed at advancing genetic testing and precision medicine. Recognized by Fast Company as one of the World’s Most Innovative Companies for 2022, Myriad is dedicated to improving patient care and reducing healthcare costs through its genetic tests.

Myriad Genetics (NASDAQ: MYGN) has expanded its partnership with Intermountain Precision Genomics to introduce a new liquid biopsy therapy selection test. This offering aims to enhance cancer treatment decisions by analyzing circulating tumor DNA in patients' blood, providing a less invasive alternative to traditional biopsies. The new test will be integrated into Myriad's Precise Oncology Solutions, which currently includes various genetic testing options. Initial focus will be on solid tumors in advanced stages, with the test expected to launch in 2023.

Myriad Genetics (NASDAQ: MYGN) will host its first-quarter 2022 earnings conference call on May 5, 2022, at 4:30 p.m. EDT. The earnings will be released prior to market opening on the same day. Executives, including CEO Paul J. Diaz and CFO R. Bryan Riggsbee, will provide insights into the company's performance for the period ending March 31, 2022. The call can be accessed by domestic and international callers, with an archived replay available for seven days. Myriad Genetics focuses on genetic testing and precision medicine to enhance healthcare outcomes.

Myriad Genetics conducted a nationwide survey revealing that 60% of women diagnosed with depression or anxiety feel ignored regarding their mental health concerns. Two-thirds are nearing a breaking point, impacting their personal and professional lives. Over half delayed treatment for over a year, often due to misconceptions about their condition or stigma. Many women believe prescription medications are the most effective treatment, yet only 30% are aware of genetic testing that could inform their treatment. The GeneSight test aims to improve treatment outcomes by tailoring medications to genetic profiles.

Myriad Genetics has launched Precise™ Oncology Solutions, offering a comprehensive suite of tests for oncologists to personalize cancer treatment. This includes the new Precise™ Tumor Molecular Profile Test, which works alongside existing tests like MyRisk™ and MyChoice® CDx.

This innovation aims to streamline the testing process and improve treatment outcomes for patients with solid tumors, especially ovarian cancer. A unified online portal enhances accessibility and facilitates timely results, marking a significant advancement in precision oncology.

Myriad Genetics announced the FDA approval of its BRACAnalysis CDx test as a companion diagnostic for HER2 negative high-risk early-stage breast cancer patients. This test identifies germline BRCA mutations and assists in determining eligibility for Lynparza (olaparib) treatment. The OlympiA trial demonstrated significant improvement in patient survival rates. This advancement enhances treatment options for breast cancer patients and underscores the growing role of genomics in clinical care.

Myriad Genetics, a leader in genetic testing, will participate in the 42nd Annual Cowen Health Care Conference on March 8, 2022, at 9:50 a.m. ET. CEO Paul J. Diaz will discuss the impact of genetic insights on health equity, new commercial capabilities, and industry trends. The presentation will be available via a live audio webcast on Myriad's investor information page at www.myriad.com. Myriad Genetics is dedicated to improving patient care through genetic testing that influences disease risk assessment and treatment decisions.