Myriad Genetics Stock Price, News & Analysis

Myriad Genetics (NASDAQ: MYGN) has launched 'Know More Sooner,' a new educational website focused on reproductive and prenatal genetic testing. The initiative aims to provide comprehensive information about genetic screening options and address common misconceptions.

The website was developed in response to survey findings showing that while most women desire prenatal screening after understanding its benefits, 40% reported not being offered noninvasive prenatal testing (NIPT). Myriad offers three key tests: SneakPeek® Gender Test (>99% accuracy from six weeks), Foresight® Carrier Screen for inherited conditions, and Prequel® Prenatal Screen for chromosomal conditions (from eight weeks).

The American College of Obstetricians and Gynecologists recommends carrier and cfDNA screening for all pregnant patients, regardless of age, ancestry, or risk factors.

Myriad Genetics (NASDAQ: MYGN) published a study in Obstetrics & Gynecology demonstrating improved hereditary cancer testing completion rates through their online screening tool and patient education program. The study revealed significant improvements following the implementation of MyGeneHistory®:

- 30% more patients identified as meeting guidelines for hereditary cancer testing
- 50% more guideline-meeting patients were offered testing
- Double the number of patients completed hereditary cancer testing

The study highlighted that 87% of clinicians reported increased confidence in hereditary cancer risk assessment, with over 80% stating the program helped them follow ACOG guidelines. The company's Breast Cancer Risk Assessment Program includes the MyRisk® with RiskScore® Hereditary Cancer Test, offering hereditary cancer testing and polygenic breast cancer risk assessment for all ancestries.

Diligent, a GRC SaaS company, announced a collaboration with S&P Global's Market Intelligence division to launch Diligent Market Insights Reporting. The new service, powered by S&P Capital IQ Pro data, provides corporate directors and executives with comprehensive financial insights and market comparisons through the Diligent One Platform, which serves over 1 million users and 700,000 board members.

The integration delivers tailored reports featuring peer comparisons, stock charts, market analysis, analyst price targets, and earnings sentiment analysis. Key benefits include access to comprehensive market data, customized insights for corporate leadership, enhanced decision-making capabilities, and seamless integration with Diligent Boards. The service aims to help boards and executives navigate complex risk landscapes by providing contextualized insights for strategic decision-making.

Myriad Genetics (NASDAQ: MYGN) has released preliminary financial results for Q4 and full year 2024, along with 2025 guidance. The company expects Q4 2024 revenues between $209-211 million, representing a 6-7% increase year-over-year, and full-year 2024 revenues of $836-838 million, up 11% from 2023.

Q4 2024 is expected to show a GAAP diluted loss per share of $(0.72)-$(0.62) and adjusted EPS of $0.03-$0.04. Full-year 2024 GAAP loss per share is projected at $(1.66)-$(1.56) with adjusted EPS of $0.14-$0.15. The company anticipates Q4 GAAP net loss between $(65.7)-$(56.8) million and adjusted EBITDA of $10-11 million.

Cash and cash equivalents stood at approximately $102 million as of December 31, 2024, showing a $2 million increase from Q3 2024. Final audited results will be released during the February 2025 earnings call.

Myriad Genetics (NASDAQ: MYGN) has announced a partnership with sports broadcaster Hannah Storm to promote their Breast Cancer Risk Assessment Program featuring the MyRisk® with RiskScore® Hereditary Cancer Test. Storm, who was diagnosed with stage zero Ductal Carcinoma in Situ (DCIS) in January 2024, will serve as an ambassador for the program.

The collaboration aims to raise awareness about the importance of knowing family cancer history and understanding associated risks. Storm's cancer was detected early through routine screening, highlighting the value of preventive measures. As a mother of three daughters, she emphasizes the significance of genetic testing for understanding hereditary risks.

According to Myriad Genetics, nearly half of women may not know their family health history. Storm will share content on her social media platforms about hereditary cancers and the importance of knowing both sides of family health history.

Myriad Genetics (NASDAQ: MYGN) has announced its participation in the 43rd Annual J.P. Morgan Healthcare Conference in San Francisco. The company's President and CEO Paul J. Diaz, along with COO Sam Raha, will deliver a presentation on Wednesday, January 15, at 3:45 PM PT (6:45 PM ET).

Investors and interested parties can access the presentation through a live webcast available in the investor relations section of Myriad's website at investor.myriad.com. An archived version of the presentation will be made available following the live event.

Myriad Genetics (NASDAQ: MYGN) has announced its participation in the 43rd Annual J.P. Morgan Healthcare Conference in San Francisco. The company's management team will deliver a presentation on Wednesday, January 15, at 3:45 PM PT (6:45 PM ET).

Interested parties can access the presentation through a live webcast available in the investor relations section of Myriad's website at investor.myriad.com. For those unable to attend the live session, an archived version of the presentation will be made available on the same day.

The University of Texas MD Anderson Cancer Center and Myriad Genetics have announced a five-year strategic alliance to accelerate the clinical evaluation and development of Myriad’s molecular residual disease (MRD) assay.

This collaboration combines Myriad’s oncology diagnostic expertise with MD Anderson’s clinical research capabilities to create a portfolio of studies evaluating the clinical validity and utility of Myriad’s Precise MRD test. The studies will focus on breast, gastrointestinal, genitourinary, and gynecological cancers.

Myriad's Chief Scientific Officer, Dale Muzzey, emphasized the potential of the Precise MRD test to enhance treatment strategies by detecting tumor-derived DNA at very low levels, which could improve patient outcomes.

Under the agreement, MD Anderson will handle patient enrollment, sample collection, clinical data analysis, and manuscript writing, while Myriad will provide funding, MRD testing, and scientific research support, along with potential milestone and royalty payments.

MD Anderson's Christopher Flowers highlighted the alliance's goal to explore MRD testing applications, including relapse monitoring, identifying high-risk patients, and potential intervention approaches.

Myriad Genetics (NASDAQ: MYGN), a leader in genetic testing and precision medicine, has released its Quality, Innovation, and Corporate Responsibility Report. The report covers the period from January 1, 2023, to September 30, 2024, and highlights the company's commitment to responsible operations in the healthcare industry.

Key achievements include:

• Operational Excellence: 88% of genetic testing samples were processed within industry-leading turnaround times, and the company achieved a net promoter score of 72 among providers as of July 2024.
• Innovation: Continued development of new technologies like the molecular residual disease (MRD) assay and modernization of facilities under the Labs of the Future initiative, aimed at improving workflows, reducing turnaround times, and cutting operating costs.
• Corporate Responsibility: In 2024, 84% of employees rated Myriad as a great place to work, 27 percentage points higher than the typical U.S. company. The company also recycled 46.9 tons of plastic from its Salt Lake City laboratories during the reporting period.

These efforts reflect Myriad's mission to make genetic testing more accessible, help patients manage their health, and support healthcare providers in preventing and treating disease.