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 appointed Melissa Gonzales as the new president of its Women's Health division. Gonzales brings over 20 years of experience in women's health, previously serving as executive vice president at Medela, where she led the company to become the top breast pump brand in the U.S. At Myriad, she will focus on enhancing genetic tests that assess hereditary cancer risk and support family planning. Her expertise aims to drive growth in the Women's Health business and improve product performance under the leadership of Nicole Lambert.
Myriad Genetics (MYGN) announced a groundbreaking study validating a new polygenic risk score (PRS) for breast cancer risk assessment across all ancestries. The research, involving over 275,000 women, will be presented at the ASCO Annual Meeting on June 4, 2021. The updated PRS tool, offered at no extra cost through the myRisk Hereditary Cancer test, integrates over 90 genetic markers, enhancing personalized risk evaluations. This initiative aims to improve accessibility and reduce healthcare disparities in genetic testing.
Myriad Genetics (NASDAQ: MYGN) will present its transformation plan and growth initiatives at the Bank of America Securities 2021 Virtual Health Care Conference on May 12, 2021, at 2:45 p.m. EDT. CEO Paul J. Diaz will lead the discussion, which will be accessible via a live audio webcast. Myriad Genetics focuses on genetic testing and precision medicine, aiming to enhance patient lives through molecular diagnostic tests that assess disease risks, diagnoses, and treatment decisions. For more details, visit www.myriad.com.
Myriad Genetics reported Q1 2021 revenues of $173.1 million, a 12% increase sequentially and 6% year-over-year. GAAP EPS was ($0.52), with adjusted EPS at ($0.06), improving by $0.06 sequentially. Test volumes grew 5% sequentially, reflecting seasonality. The company anticipates closing business unit divestitures for $375 million in gross proceeds. Noteworthy segments included Oncology, with a 39% revenue increase to $75.6 million, despite a decline in Women's Health revenue. Myriad will discuss its strategy at an Investor Day on May 4th.
Myriad Genetics (NASDAQ: MYGN) has finalized a $150 million cash deal to sell select assets and intellectual property, including the Vectra® test, to Labcorp. The transaction aims to enhance patient access to the Vectra test while allowing Myriad to focus on core areas like Women's Health, Oncology, and Mental Health. The Vectra test has been vital for over one million patients in assessing rheumatoid arthritis. Pending regulatory approval, the sale is expected to close by Q3 2021, with Guggenheim Securities as financial advisor.
Myriad Genetics announced its strategic updates during the 2021 Investor Day, focusing on expanding its reach in genetic testing and precision medicine. The company aims to increase growth while controlling expenses and enhancing operational excellence. This ongoing transformation includes new tech-enabled capabilities, better customer engagement, and plans for future growth. Myriad targets profitability by Q4 2021, emphasizing investments in product accessibility and leveraging genetic data for advancing healthcare services.
Myriad Genetics, Inc. (NASDAQ: MYGN) will release its financial results for the quarter ending March 31, 2021, on May 3, 2021, at 4:05 pm EDT. The company will not conduct a quarterly earnings call but will hold an Investor Day event on May 4, 2021, at 11:00 am EDT. This event will provide insights into the company's vision and future plans. Myriad is dedicated to advancing genetic testing and precision medicine to enhance patient care and reduce healthcare costs.
Myriad Genetics (NASDAQ: MYGN) has agreed to sell its myPath Melanoma laboratory to Castle Biosciences for $32.5 million. This strategic divestiture is aimed at enhancing shareholder value while allowing Myriad to concentrate on its core areas in Women's Health, Oncology, and Mental Health.
The myPath Melanoma test has served nearly 40,000 patients and is ordered by about 20% of dermatopathologists in the U.S. The deal is pending customary closing conditions and is expected to finalize in Myriad's fiscal second quarter.
Myriad Genetics (NASDAQ: MYGN) has formed a strategic collaboration with Intermountain Precision Genomics to enhance global precision oncology care. This venture integrates Myriad’s advanced genetic testing capabilities with Intermountain's laboratory services, launching a comprehensive offering of germline genetic testing and somatic tumor profiling expected to be available in late 2021. The collaboration includes Myriad's myRisk® and myChoice® CDx tests, supported by major insurance payers, aiming to provide complete genetic analysis for oncologists.
Myriad Genetics (MYGN) reported a 6% sequential revenue increase to $154.6 million for the quarter ending December 31, 2020, despite a 21% year-over-year decline. Test volumes rose 7% sequentially to 224,000, with adjusted EPS improving to ($0.12). The company signed an in-network agreement with Anthem Blue Cross Blue Shield, enhancing access for genetic tests. The business transformation plan includes focusing on women’s health, oncology, and mental health, while divesting less strategic units. Myriad did not provide financial guidance due to COVID-19 uncertainties.
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