Myriad Genetics Stock Price, News & Analysis

Myriad Genetics (NASDAQ: MYGN) has completed the sale of its EndoPredict® business to Eurobio Scientific, a leading French in vitro diagnostics company. This move is part of Myriad's international reorganization announced in May 2024. The deal includes licensing Eurobio the right to sell Prolaris® in vitro diagnostic kits outside the U.S. Myriad retains U.S. rights for EndoPredict as part of its Precise™ Oncology Solutions suite.

This transaction aligns with Myriad's strategy to focus on domestic opportunities while maintaining global biopharma partnerships. CEO Paul J. Diaz stated that the reorganization will enable continued growth in oncology and biopharma business in Europe and Asia through a more efficient commercial distribution model, reducing organizational complexity and enterprise risk.

Myriad Genetics (NASDAQ: MYGN) has appointed Jennifer Fox as Chief Legal Officer, effective September 3, 2024. Fox brings nearly two decades of legal experience in the life sciences sector, with expertise in intellectual property, litigation, and regulatory matters. Her responsibilities will include support and counsel for legal affairs, IP, patent protection, M&A, litigation, regulatory and quality assurance, compliance, privacy, and government affairs.

Fox previously served as Executive VP of External Affairs at Emergent BioSolutions, overseeing legal functions, government and public affairs, communications, and ESG initiatives. She holds a J.D. from North Carolina Central University, an M.S. in Biochemistry and Molecular Biology, and a B.S. in Biology from the University of Toledo.

Myriad Genetics (NASDAQ: MYGN), a leader in genetic testing and precision medicine, has announced its upcoming second quarter 2024 financial results release and earnings conference call. The company will release its quarterly earnings on August 6, 2024, after market close. The earnings conference call is scheduled for the same day at 4:30pm ET.

During the call, Myriad's management will provide a financial overview and business update for Q2 2024. Investors can access a live webcast of the call on Myriad's Investor Relations website. For those wishing to participate via telephone, registration is required to receive a dial-in number and unique PIN. An archived version of the webcast will be available on the company's investor website following the call.

Myriad Genetics' Cancer Risk Survey: Breast Cancer Edition reveals significant knowledge gaps about breast density and cancer risk. Key findings include:

• 63% of women don't know dense breasts increase breast cancer risk
• 44% don't understand breast density
• Only 66% believe annual breast health checks are necessary
• 40% think additional screenings are needed for dense breasts, but only 1/3 would consider genetic testing

New FDA guidelines require breast imaging facilities to alert patients with dense breasts by September 2024. Myriad's MyRisk® Hereditary Cancer Test with RiskScore® calculates a woman's 5-year and lifetime breast cancer risk, combining genetic insights, family history, and clinical factors like breast density. Early detection is important for improved patient outcomes, and understanding breast density can help women make informed decisions about screening options.

Myriad Genetics (Nasdaq: MYGN) and Personalis (Nasdaq: PSNL) have entered a cross-licensing agreement to cover tumor-informed approaches for detecting minimal residual disease (MRD). This collaboration aims to broaden patient access to MRD testing, which helps in closely monitoring cancer treatment responses and early recurrence detection. The MRD market, expected to grow to $20 billion, benefits from these companies' pioneering and highly sensitive tumor-informed approaches. Both firms aim to make MRD testing a standard of care, enhancing clinical decision-making and patient outcomes in oncology.

Myriad Genetics (NASDAQ: MYGN) has secured a second key patent for its molecular residual disease (MRD) technology, enhancing its ability to deliver high-definition, tumor-informed MRD assays. The newly issued U.S. patent no. 12,024,749, titled “Combinatorial DNA Screening,” complements a previously granted patent on methods of preparing cell-free DNA, solidifying Myriad's unique position in the MRD market. This innovative technology detects circulating tumor DNA with high sensitivity, providing a competitive edge. The company continues to refine its Precise MRD assay, currently involved in multiple high-impact studies, and anticipates releasing preliminary results this fall.

Myriad Genetics (NASDAQ: MYGN), a leader in genetic testing and precision medicine, has achieved the Great Place To Work Certification for the second consecutive year. This distinction is based on employee feedback, with 84% of employees endorsing it as a great workplace—27% higher than the average U.S. company. The certification highlights Myriad's commitment to a positive, inclusive work environment and employee satisfaction. Chief People Officer Shereen Solaiman emphasized the company's dedication to fostering growth and collaboration.

A recent survey by Myriad Genetics reveals that 40% of Americans report feeling 'depressed and/or anxious' during the election season. The GeneSight® Mental Health Monitor: Special Election Series indicates that politics and elections significantly impact mental wellbeing. Nearly 38% of Americans feel increased anxiety due to election-related news and social media, and 35% feel overwhelmed by it. Despite this, only 37% of those diagnosed with depression or anxiety are currently receiving professional mental health treatment. The GeneSight test aids clinicians in understanding how patients metabolize and respond to medications for mental health conditions. Myriad Genetics plans to conduct two more surveys in September and October to further examine the election's impact on mental health.

Myriad Genetics (NASDAQ: MYGN) has partnered with GSK to enhance access to homologous recombination deficiency (HRD) diagnostic testing for high-grade serous ovarian cancer (HGSOC) patients. The new sponsored program utilizes Myriad's MyChoice HRD Plus and MyChoice CDx Plus Tests and is available in nine countries, including Argentina, Brazil, Chile, Colombia, Egypt, Netherlands, Saudi Arabia, Singapore, and the UAE. This initiative seeks to improve patient care by providing vital genetic insights to guide personalized treatment decisions. The collaboration underscores both companies' dedication to healthcare equity and expanding diagnostic solutions to underserved markets.