Myriad Genetics Stock Price, News & Analysis

Myriad Genetics (NASDAQ: MYGN) announced its upcoming quarterly earnings call for the period ending December 30, 2020, scheduled for 4:30 p.m. EST on February 23, 2021. The call will include insights from Paul J. Diaz, President and CEO, and R. Bryan Riggsbee, CFO, regarding the company's financial performance and business developments. Investors can participate via dial-in or live webcast. Following the call, an archived replay will be available for seven days.

Myriad Genetics has announced additional data from a study validating the effectiveness of its Prolaris test in determining treatment paths for men with prostate cancer. The study, presented at the ASCO-GU symposium, indicates Prolaris can identify patients who require intensive therapy versus those who can be monitored. With an estimated 248,530 prostate cancer cases expected in the U.S. this year, the test helps avoid overtreatment. Approximately 60% of men with prostate cancer have insurance coverage for Prolaris, reflecting the company's commitment to expanding access.

Myriad Genetics, a leader in genetic testing, will participate in key health and technology conferences in February and March 2021. Executives Paul J. Diaz and R. Bryan Riggsbee will host fireside chats at the BTIG Virtual Conference on February 19, the Leerink Global Healthcare Conference on February 24, and the Cowen Annual Healthcare Conference on March 2. These discussions will focus on enhancing services in Women's Health, Oncology, and Mental Health. Live audio webcasts will be available on Myriad's website.

Myriad Genetics (NASDAQ:MYGN) announced a new analysis published in Psychiatry Research highlighting the effectiveness of its GeneSight^® Psychotropic test. The study shows that the combinatorial approach of the GeneSight test outperforms single-gene testing in predicting patient outcomes and medication blood levels for depression and anxiety treatments. The analysis utilized data from the GUIDED trial, revealing higher response rates when patients switched to medications with moderate or no gene-drug interactions. This work underscores the potential of GeneSight as a standard-of-care tool in psychiatric treatment.

Myriad Genetics (NASDAQ: MYGN) announced a strategic collaboration with Illumina to create a kit-based version of the myChoice® companion diagnostic test for international markets.

This partnership aims to enhance access to innovative oncology solutions, improving patient outcomes by utilizing next-generation sequencing in tumor profiling.

myChoice CDx is the only extensively validated diagnostic test for predicting responses to PARP inhibitors in various cancers and has recently received CE Marking and Japanese regulatory approval.

Myriad Genetics has completed a strategic review to enhance its focus on Women’s Health, Oncology, and Mental Health. The company is pursuing strategic alternatives for its Autoimmune business and realigning international operations to streamline costs and improve growth. This includes focusing on high-growth markets like Germany, France, and Japan, with an expected cost savings of $5 million upon full implementation. Recent developments include a positive reimbursement decision in Germany for the EndoPredict test and increased revenue from the BRACAnalysis CDx test in Japan.

Myriad Genetics (NASDAQ: MYGN) will present its transformation and growth initiatives at the 39th Annual J.P. Morgan Healthcare Conference, scheduled for January 11, 2021, at 2:50 p.m. EST. CEO Paul J. Diaz will focus on how the company is leveraging precision medicine to enhance patient care and lower healthcare costs. The event will be accessible via a live audio webcast on Myriad's website, aiming to shed light on key opportunities to improve diagnostics and treatment strategies.

Myriad Genetics (NASDAQ: MYGN) presented a study at the 2020 San Antonio Breast Cancer Symposium demonstrating the effectiveness of its myRisk^® Hereditary Cancer and riskScore^® tests in assessing breast cancer risk among women with the ATM gene mutation. The study aims to enhance personalized risk assessments, enabling informed decisions regarding surveillance and surgical options for patients. Myriad's riskScore combines data from 20 years of genetic studies and family history, offering a comprehensive assessment for women at risk.

Integrated Prescription Management (IPM) has partnered with Myriad Genetics (MYGN) to introduce a personalized multibiomarker program for rheumatoid arthritis (RA). This program aims to enhance patient outcomes while potentially reducing healthcare costs significantly, with the Vectra blood test predicting treatment efficacy and risks of joint damage.

Rich Adams, IPM COO, highlighted Vectra's capability to save over $5,000 monthly on treatments. The collaboration is expected to advance clinical evidence supporting the test's value for the estimated 1.5 million Americans living with RA.