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. reports developments in molecular diagnostic testing and precision medicine, with recurring updates on tests that assess disease risk, disease progression, and treatment selection across medical specialties. Company news commonly covers the Cancer Care Continuum, Prenatal Health, and Mental Health businesses, including test volume trends, average revenue per test, earnings results, and financial guidance.
Updates also address Myriad's oncology diagnostics and research programs, including MyChoice CDx, Precise MRD, Prolaris, hereditary cancer testing, GeneSight, and prenatal testing products. News themes include companion diagnostic approvals, clinical data presentations, commercial launches, collaborations, and investor healthcare conference participation.
Myriad Genetics, Inc. (NASDAQ: MYGN) has announced the appointment of five senior executives to enhance its product management and commercial strategy. Key new hires include Marc Leighton as SVP for Product Management, Glenn Farrell as CMO, and others responsible for lab transformation and business development. Their collective experience aims to bolster Myriad's growth in genetic testing and precision medicine. CEO Paul J. Diaz expressed confidence that their leadership will drive sustainable growth and innovation, positioning the company for future success.
Myriad Genetics (NASDAQ: MYGN) has announced positive results from a longitudinal study validating its MyRisk™ Hereditary Cancer test with RiskScore® as an accurate breast cancer risk predictor. Presented at the 2022 San Antonio Breast Cancer Symposium, the study involved over 130,000 women and demonstrated that RiskScore can better stratify high- and low-risk patients compared to standard assessments. This advancement in precision medicine could enhance breast cancer prevention strategies, allowing women to make informed management decisions regarding their health.
Myriad Genetics (NASDAQ: MYGN) presented new data at the 2022 San Antonio Breast Cancer Symposium, focusing on a spotlight discussion regarding breast cancer risk prediction. The discussion covered a study involving 130,058 women, highlighting the use of a combined risk score based on polygenic risk scores and the Tyrer-Cuzick model. The findings aim to enhance breast cancer prevention and screening strategies. Myriad showcased various products, including MyRisk, MyChoice CDx, and EndoPredict, emphasizing their role in personalized cancer care.
Myriad Genetics, Inc. (NASDAQ: MYGN) will present at the 41st Annual NSGC meeting from Nov. 16-19, 2022, focusing on expanding access to genetic insights for prenatal and hereditary cancer. CEO Paul J. Diaz emphasizes collaboration with genetic counselors to enhance accessibility and affordability. The company will host a CEU symposium and promote its products, including MyRisk™ with RiskScore and Prequel®. Additionally, Myriad plans to livestream key discussions on health equity and precision medicine.
Myriad Genetics (MYGN) announced the launch of UroSuite, a suite of genetic tests for prostate cancer care. This comprehensive solution offers multiple tests including Prolaris and MyRisk, allowing healthcare providers to personalize treatment effectively. The platform also features a Precise Treatment Registry, aiming to enhance the accessibility of genetic insights. Myriad is focused on addressing educational gaps in genetic testing adoption, providing clinicians with tools for streamlined reporting and patient management. The company aims to improve patient outcomes in precision medicine.
Myriad Genetics (NASDAQ: MYGN) announced a new study published in JCO Precision Oncology, which developed a breast cancer polygenic risk score (PRS) for women of all ancestries. This innovative PRS methodology enhances risk assessment accuracy using genetic ancestry markers, providing a tailored risk evaluation that incorporates both genetic and clinical variables. The MyRisk™ Hereditary Cancer Test has already integrated this advancement, improving access to genetic testing and aiming to reduce healthcare disparities for breast cancer risk.
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.