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. (NASDAQ: MYGN) generates frequent news as a molecular diagnostic testing and precision medicine company. Its announcements often cover financial results, clinical research, product updates, and collaborations that shape how genetic and genomic testing is used in oncology, women’s health, and mental health care.
Investors and clinicians following MYGN news will see regular earnings releases and financial guidance updates, which the company also furnishes on Form 8-K. These updates describe trends in hereditary cancer testing, tumor profiling, prenatal screening, and pharmacogenomics, along with commentary on business performance and strategic priorities.
Scientific and medical conference activity is another major source of news. Myriad Genetics frequently reports new data on tests such as the MyRisk Hereditary Cancer Test, Precise MRD, FirstGene Multiple Prenatal Screen, Prequel Prenatal Screen, Foresight Carrier Screen, and the GeneSight Psychotropic test. Company communications highlight abstracts and posters at meetings like the San Antonio Breast Cancer Symposium and the National Society of Genetic Counselors Annual Conference.
News items also describe collaborations with partners including SOPHiA GENETICS, Clairity, and MagView, focused on areas such as liquid biopsy companion diagnostics and integrated breast cancer risk assessment platforms. Updates on leadership changes, credit facilities, and conference presentations at investor healthcare events are also part of the MYGN news flow.
This page provides a centralized view of these developments so readers can review Myriad Genetics’ latest financial disclosures, research milestones, product enhancements, and partnership announcements in one place.
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.
Myriad Genetics (NASDAQ: MYGN) responds to UnitedHealthcare's decision to restrict access to multi-gene panel pharmacogenetic tests, including GeneSight, under commercial and individual exchange benefit plans effective January 1st, 2025. The company strongly disagrees with UnitedHealthcare's assessment of insufficient evidence for GeneSight's efficacy. The policy change does not affect Medicare Advantage and managed Medicaid plans. GeneSight, approaching 3 million tests to date, is used for medications prescribed for depression, anxiety, ADHD, and other psychiatric conditions. Myriad is actively engaging with UnitedHealthcare to maintain enrollee access and will discuss financial implications in their upcoming Q3 2024 earnings call.
Myriad Genetics (NASDAQ: MYGN) has scheduled its third quarter 2024 earnings conference call for November 7, 2024, at 4:30 pm ET, with results to be released after market close. Management will provide financial overview and business updates during the call. Additionally, the company announced participation in two upcoming investor healthcare conferences: The Guggenheim Inaugural Global Healthcare Conference on November 13, featuring CEO Paul J. Diaz, and The 6th Annual Wolfe Research Healthcare Conference on November 20, featuring CFO Scott Leffler and COO Sam Raha.
Myriad Genetics Inc. (NASDAQ: MYGN) has announced a strategic partnership with jscreen™ to advance health equity and genetic testing access. This collaboration combines Myriad's MyRisk® with RiskScore® and Foresight® Carrier Screen with jscreen's education and genetic care navigation program. The partnership aims to reach hundreds of thousands of high-risk adults across the United States through targeted outreach, educational events, and in-person genetic screenings.
The collaboration focuses on serving individuals of Jewish descent, emphasizing outreach, education, and testing convenience. jscreen's platform allows consumers to order genetic test kits online, provide saliva samples, and send them back to Myriad's lab for processing. This partnership aligns with both organizations' missions to provide preventative genetic care and improve access to carrier screening and hereditary cancer testing.
Myriad Genetics (NASDAQ: MYGN) has announced a collaboration with Flatiron Health to integrate its MyRisk® Hereditary Cancer Test into Flatiron's OncoEMR® platform. This integration allows 4,200 providers at over 800 community-based cancer care locations across the U.S. to order, receive, and review MyRisk testing results directly through their daily EMR system. The partnership aims to streamline the workflow for germline testing, enhancing access to personalized patient care and reducing administrative burdens.
MyRisk is the first hereditary cancer test to be incorporated into Flatiron's OncoEMR. This collaboration is expected to simplify the ordering experience for clinicians and provide important health information to improve patient care and outcomes. Myriad Genetics plans to expand the availability of other genomic testing solutions on the OncoEMR platform in the future.
Myriad Genetics (NASDAQ: MYGN) has announced five research collaborations to study the use of molecular residual disease (MRD) testing in breast cancer using their Precise® MRD test. These collaborations include:
- A study on ctDNA levels predicting response to therapy in HR-positive inflammatory breast cancer
- Research on ctDNA levels correlating with nodal involvement in HR-positive breast cancer
- The MONITOR-breast study assessing ctDNA levels in neoadjuvant and adjuvant therapy
- The JBCRG-C11 (CREA) study evaluating ctDNA for guiding therapy in HER2-positive breast cancer
- A study with Aptitude Health on ctDNA levels in high-risk patients in community oncology settings
Myriad's Precise MRD test tracks up to 1,000 tumor-specific variants identified via whole-genome sequencing, making it suitable for detecting low levels of ctDNA in breast cancer.
Myriad Genetics and Ultima Genomics have announced a collaboration to explore Ultima's UG 100™ sequencing platform and ppmSeq™ technology for advancing Myriad's clinical test offerings in oncology and reproductive genomics. Myriad has purchased a UG 100 for its new Lab of the Future facility in South San Francisco. The platform's low-cost and low-error sequencing capabilities may benefit Myriad's emerging products, including:
1. The Myriad Precise Molecular Residual Disease (MRD) test, which performs whole-genome sequencing on tumor and normal tissue samples to identify tumor-specific variants.
2. The upcoming FirstGene Multiple Prenatal Screen, which will run multiple prenatal screens via a single sequencing workflow.
Both Myriad and Ultima Genomics express optimism about the potential of this collaboration to improve test performance, lower costs, and expand access to cutting-edge genetic testing.
Myriad Genetics (NASDAQ: MYGN) has been granted a third patent by the U.S. Patent and Trademark Office, strengthening its position in delivering a tumor-informed, high-definition, molecular residual disease (MRD) assay. The new patent, U.S. patent no. 12,104,212, covers proprietary methods for ultra-sensitive detection of tumor-specific mutations in circulating tumor DNA (ctDNA).
This patent complements two earlier patents related to MRD technology and cell-free DNA preparation methods. Myriad's Precise® MRD assay can track up to thousands of tumor-specific variants, potentially detecting ctDNA at lower levels than other products currently available. The company is leveraging its existing technology, including the FDA-approved MyChoice® CDx companion diagnostic and FirstGeneTM platforms, to develop and commercialize Precise MRD.
Myriad is currently conducting several high-impact studies for its Precise MRD assay, including collaborations with Memorial Sloan Kettering, The University of Texas MD Anderson Cancer Center, and the National Cancer Center Hospital East in Japan. The test is available for use in research studies pursued jointly by Myriad and academic or pharmaceutical investigators.
Myriad Genetics (NASDAQ: MYGN) will present 10 studies at the National Society of Genetic Counselors 43rd Annual Conference from Sept. 17-21, 2024, in New Orleans. The research focuses on advancements in oncology and reproductive genetic testing, showcasing the company's MyRisk, FirstGene, Prequel, and Foresight tests.
Key highlights include:
- Studies on breast cancer diagnosis age for specific gene variants
- Outcomes of pregnancies screening positive for rare autosomal aneuploidies and microdeletions
- Validation of the FirstGene screen for various genetic conditions
- Comparison of carrier rates from different data sources
- Investigation of cancer diagnosis codes after atypical prenatal cell-free DNA screening findings
Myriad will also host a lunch symposium on integrating breast cancer risk assessment programs into various clinical settings.