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 (NASDAQ: MYGN) achieved significant recognition as their MyRisk® Hereditary Cancer Test with RiskScore® study was named among the top 10 advances in genomic medicine by the American Journal of Human Genetics. The study, selected by the National Human Genome Research Institute's Genomic Medicine Working Group, validated RiskScore's effectiveness using data from over 130,000 women.
The research demonstrated that RiskScore, which combines a polygenic risk score (PRS) for all ancestries with the Tyrer-Cuzick model, is twice as accurate in predicting breast cancer risk compared to the Tyrer-Cuzick model alone. Notably, Myriad was among the first commercial laboratories to introduce a multi-ancestry breast-cancer PRS, advancing health equity through more inclusive genetic insights.
Myriad Genetics provided an update regarding its discussions with UnitedHealthcare (UNH) following UNH's November 1 policy update that restricts access to multi-gene panel pharmacogenetic tests, including Myriad's GeneSight test, effective January 1, 2025. The company has been engaging in dialogue with UNH, presenting additional clinical data supporting GeneSight's clinical validity and utility, particularly for primary care settings where most antidepressants are prescribed.
Myriad has requested continued access to the test for UHC enrollees in 2025. While aiming for a year-end resolution, discussions may extend into early 2025. The company maintains its previously announced 2024 financial impact estimates related to UNH's policy change.
Myriad Genetics (NASDAQ: MYGN) has expanded its Board of Directors from eight to nine members with the election of Mark S. Davis, effective immediately. Davis will also serve on the Board's Audit and Finance Committee. Currently Senior Relationship and Growth Advisor at Cross Country Consulting, Davis previously held senior positions at Deloitte & Touche LLP from 1985 to September 2024, including Audit Partner and National Managing Partner roles.
Davis also serves on the board of Yext, Inc., the advisory board of NYU-Winthrop Hospital, and the Board of Trustees at Adelphi University. He holds a B.B.A. from Adelphi University and is a certified public accountant.
Myriad Genetics receives validation from updated NCCN Prostate Cancer Guidelines for its comprehensive portfolio of cancer testing solutions. The guidelines highlight the importance of MyRisk Hereditary Cancer Test, Prolaris Prostate Cancer Test, and Precise Tumor Molecular Profile Test across different stages of prostate cancer management.
The NCCN updates recommend multigene germline testing for patients with metastatic, regional, very-high-risk localized, or high-risk localized prostate cancer. MyRisk evaluates 48 genes for hereditary cancer risk, while Prolaris quantifies cancer aggressiveness and treatment benefits. Precise Tumor offers multigene profiling for targeted therapies and immunotherapy decisions.
Myriad Genetics (NASDAQ: MYGN) announced new data presentations at the 2024 San Antonio Breast Cancer Symposium (SABCS). The presentations include validation data for their high-definition tumor-informed MRD assay for breast cancer and the MyRisk® with RiskScore® Breast Cancer Risk Assessment Tool.
Key presentations include a spotlight session on a polygenic breast cancer risk assessment tool, data on polygenic-based breast cancer risk prediction's impact on patient management, and analytical validation of their MRD assay. Dr. Holly Pederson will present findings on polygenic risk scores in Hispanic women.
The company will showcase several products at booth #1327, including the MyRisk® Hereditary Cancer Test, Precise Tumor® Molecular Profile Test, MyChoice® CDx, and EndoPredict® Breast Cancer Prognostic Test.
Myriad Genetics announced that its Prolaris prostate cancer prognostic test maintains its status as an 'Advanced Tool' in the National Comprehensive Cancer Network (NCCN) guidelines for the 10th consecutive year. The test continues to be included with a category 2A level of evidence, indicating support from at least 85% of NCCN prostate panel members.
Prolaris is uniquely positioned as the only test developed in untreated patients and the only one with two clinically validated thresholds: an active surveillance threshold and a multimodal threshold. The company has published over 25 studies supporting Prolaris' value in clinical decision-making. Recent studies have validated the test's ability to predict early metastasis and treatment timing, as well as its accuracy in predicting benefits of combining androgen deprivation therapy with radiation therapy.
Myriad Genetics (NASDAQ: MYGN) announced an expanded agreement with Illumina to incorporate its Genomic Instability Score (GIS) for Homologous Recombination Deficiency (HRD) into Illumina's updated TruSight™ Oncology 500 v2 assay. Previously available only as a separate product, GIS will now be reported for all samples analyzed with TSO 500 v2, enabling comprehensive genomic profiling across multiple cancer types. This integration aims to broaden clinical research opportunities and potentially drive companion diagnostic development for HRD-based therapies beyond ovarian cancer.
Myriad Genetics (NASDAQ: MYGN) announced that its Prequel® Prenatal Screen is now available at eight weeks into pregnancy, making it the first and only prenatal cell-free DNA screen available this early in gestational age. This advancement is enabled by their AMPLIFY™ technology. The earlier screening allows patients to complete baseline lab work during their initial prenatal care visit, eliminating the need for additional appointments. The enhanced timing provides expectant parents with earlier genetic information to make informed decisions about diagnostic testing, specialized care, delivery planning, and genetic counseling consultations. The technology's ability to boost fetal DNA signals enables higher confidence in results for all patients, including those with high BMIs.
Myriad Genetics has expanded retail access to SneakPeek, the first at-home early fetal sex DNA test, making it available in over 8,800 retail locations nationwide, including Walmart, Walgreens, and CVS stores. The test, which offers over 99% accuracy as early as six weeks into pregnancy, uses a patented SneakPeek Snap device for blood sample collection. According to a 2024 consumer survey, 82% of expectant parents want to know their baby's sex before delivery, with a majority preferring in-store purchases over online ordering. The retail launch precedes a 2025 product rebrand featuring new packaging and website design focused on gender discovery as a key moment of parental bonding.
Myriad Genetics (MYGN) reported Q3 2024 revenue growth of 11% year-over-year to $213 million, driven by Pharmacogenomics (34%) and Prenatal (10%) segments. GAAP net loss improved to $22.1 million from $61.3 million in Q3 2023, with adjusted EBITDA increasing to $14.1 million from $1.4 million. The company updated its 2024 guidance, projecting revenue of $837-843 million and adjusted EPS of $0.12-$0.14. However, UnitedHealthcare announced plans to discontinue coverage of GeneSight testing effective January 2025, impacting approximately $40 million in trailing twelve-month revenue.
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