Myriad Genetics (MYGN) , a front-runner in genetic testing and precision medicine, recently announced its plans to acquire select assets from Intermountain Precision Genomics (IPG). This acquisition, including the Precise Tumor Test, the Precise Liquid Test and the Clinical Laboratory Improvement Amendments (CLIA)-certified laboratory in St. George, UT, is set to close on Feb 1, 2024.The financial terms of the deal were not disclosed.The Deal and its BenefitsBy bringing the Precise Tumor and Precise Liquid ...

SALT LAKE CITY, Jan. 18, 2024 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc., (NASDAQ:MYGN), a leader in genetic testing and precision medicine, today announced it has entered into a definitive agreement to acquire select assets from Intermountain Precision Genomics' (IPG) laboratory business, including the Precise™ Tumor Test, the Precise Liquid Test, and IPG's CLIA-certified laboratory in St. George, Utah where the Precise Tumor Test is currently performed. The acquisition is expected to close on February 1, 2 ...

SALT LAKE CITY, Jan. 09, 2024 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc., (NASDAQ:MYGN), a leader in genetic testing and precision medicine, today announced its support for the American Society of Clinical Oncology (ASCO)—Society of Surgical Oncology (SSO) guideline for germline testing in patients with breast cancer. The new guideline offers multi-pronged, evidence-based clinical practice recommendations. Among the guidance includes: All patients with a current or previous diagnosis of invasive breast cance ...

Financial Data and Key Metrics Changes - The company reported a 14% year-over-year revenue growth in Q3 2023, marking four consecutive quarters of double-digit revenue growth [21][26] - Adjusted gross margin improved to approximately 70.4%, compared to 68% in Q3 of the previous year [23][26] - The adjusted operating loss was reduced significantly to $2.2 million from an operating loss of $20.6 million in Q3 of last year [10][26] Business Line Data and Key Metrics Changes - Hereditary cancer testing volumes grew 18% year-over-year in Q3, driven by competitive account wins and increased adoption of myRisk [9][19] - Women's Health business saw a 22% increase in hereditary cancer testing volumes and a 20% growth in prenatal testing volumes, marking five consecutive quarters of positive volume growth [14][19] - GeneSight volumes increased by 19% year-over-year, with approximately 4,000 new clinicians added to the franchise [16][19] Market Data and Key Metrics Changes - The company gained market share across all product lines, with significant volume growth in hereditary cancer and prenatal testing [9][19] - The prenatal testing business, excluding contributions from SneakPeek, grew 20% in Q3, reflecting ongoing commercial execution [9][19] - Prolaris, the prostate cancer test, saw a revenue increase of 18% year-over-year, supported by a new positive medical policy from UnitedHealthcare [13][19] Company Strategy and Development Direction - The company is focused on a multiyear transformation journey with four key objectives: team reenergization, modernization of lab and IT capabilities, restoration of organic growth and profitability, and strengthening R&D and product management [5][6] - The company aims to improve patient and provider experiences, as evidenced by strong Net Promoter Scores and increased provider retention [6][7] - New partnerships, such as with QIAGEN and Onsite Women's Health, are expected to enhance service offerings and market reach [17][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving adjusted profitability and positive adjusted operating cash flow in Q4 2023 [24][26] - The company raised its full-year revenue guidance, reflecting strong business momentum and confidence in long-term growth targets [26][29] - Management highlighted the importance of continuous quality improvement and customer satisfaction as key drivers for long-term growth [28][29] Other Important Information - The company resolved several legacy litigation matters, providing more legal and financial visibility moving forward [8][10] - A new Chief Operating Officer, Sam Raha, will join the company to focus on improving the patient-provider journey and overall customer experience [11] Q&A Session Summary Question: Progress on addressing zero pays and impact on margins - Management reported significant progress with $6.2 million in net out-of-period cash collections and improved gross margins, expressing optimism about future ASP improvements [31] Question: Market penetration within myRisk - Management clarified that the 15% market penetration refers to the unaffected market, with ongoing efforts to drive growth in both affected and unaffected populations [32] Question: Commentary on gross margin and expectations for Q4 - Management noted productivity improvements and cost management as key factors for expected gross margin growth, with confidence in achieving over 70% margins next year [35][36] Question: Guidance for 2024 - Management expressed confidence in the 2024 revenue guidance of $815 million to $835 million, citing strong year-to-date performance and market adoption [42][43] Question: Updates on GeneSight publications and pipeline - Management indicated that additional publications supporting GeneSight's utility are expected next year, with ongoing clinical validation efforts [46][49] Question: Clarification on cash bridge and litigation payments - Management confirmed that the $5 million payment to Ravgen is included in the cash flow expectations for the fourth quarter [51][52] Question: LDT regulation and GeneSight - Management expressed confidence in navigating regulatory changes, noting that many quality assurance processes are already in place [55] Question: $40 million ASP opportunity and its impact on 2024 guidance - Management highlighted ongoing progress in ASP improvements and cash collections, contributing to margin expansion expectations for 2024 [58][59]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________ FORM 10-Q _________________________________________ (Mark One) Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.01 par value MYGN Nasdaq Global Select Market ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15( ...

Myriad Genetics, Inc. (NASDAQ:MYGN) Q2 2023 Results Conference Call August 3, 2023 4:30 PM ET Company Participants Matt Scalo - Senior Vice President, Investor Relations Paul Diaz - President and Chief Executive Officer Bryan Riggsbee - Chief Financial Officer Nicole Lambert - Chief Operating Officer Mark Verratti - Chief Commercial Officer Conference Call Participants Matt Sykes - Goldman Sachs Andrew Cooper - Raymond James Jack Meehan - Nephron Research Operator Greetings, and welcome to the Myriad Geneti ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________ FORM 10-Q _________________________________________ (Mark One) Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.01 par value MYGN Nasdaq Global Select Market ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF ...

Financial Data and Key Metrics Changes - Myriad Genetics reported total revenue of $181.2 million for Q1 2023, reflecting a 10% year-over-year growth, marking the second consecutive quarter of double-digit revenue growth [28][30] - Total volumes grew organically by 21% year-over-year, with significant contributions from hereditary cancer testing and GeneSight [27][28] - Adjusted operating expenses for Q1 were $144.5 million, higher than previously anticipated due to performance-based commissions and sales and marketing costs [30] Business Line Data and Key Metrics Changes - The oncology business generated $77.6 million in revenue, with Prolaris volumes growing 22% year-over-year [12][13] - Women's health hereditary cancer testing volumes increased by 32% year-over-year, marking three consecutive quarters of positive growth [14][15] - GeneSight volumes grew by 31% year-over-year, with approximately 4,000 new clinicians ordering the test for the first time [16][17] Market Data and Key Metrics Changes - Prenatal testing volumes, excluding contributions from SneakPeek, grew by 12% year-over-year [27] - The company noted a strong performance in existing accounts, indicating that growth was primarily driven by wallet share rather than new customer acquisition [11][12] Company Strategy and Development Direction - Myriad Genetics is focused on maximizing the potential of its current products, including MyRisk, GeneSight, and Prolaris, while also investing in operational improvements and customer experience [20][21] - The company announced strategic partnerships, including an expanded collaboration with Illumina and a new partnership with SimonMed Imaging, aimed at enhancing access to genetic testing [6][25][26] - The Labs of the Future strategy is being implemented to improve operational efficiency and reduce costs [9][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving profitability and positive operating cash flow by Q4 2023, despite challenges in the operating environment [31][33] - The management team emphasized the importance of maintaining stable pricing and effective capital deployment to support growth and shareholder value [33][34] Other Important Information - The company ended the quarter with $109 million in cash and no debt, indicating a strong balance sheet [32] - Myriad Genetics is actively working on enhancing its digital capabilities to improve customer engagement and streamline operations [18][19] Q&A Session Summary Question: Timeline for product pipeline updates - Management confirmed that there are no material changes to the product launch timelines, with FirstGene expected to launch in Q4 [40] Question: Clarification on operating expenses increase - Management explained that the increase in operating expenses was due to higher sales and marketing costs associated with increased volume, but they expect to control costs moving forward [41][42] Question: Productivity increase from EPIC EMR integration - Management indicated that they expect a 25% lift in volumes from EMR integrations, which will reduce friction with payers and improve operational efficiency [48][49] Question: Impact of COVID on growth comparisons - Management clarified that while there were easier comparisons due to COVID, the current growth is driven by strong performance across all product lines [52][53] Question: GeneSight ASP and billing issues - Management acknowledged a sequential decline in GeneSight ASP due to seasonality and billing issues, but emphasized overall revenue growth [57][58] Question: MRD assay market outlook - Management expressed excitement about the MRD assay and its differentiation in the market, with expectations for revenue generation in the back half of the year [64] Question: M&A strategy - Management confirmed that they are open to opportunistic acquisitions but are currently focused on maximizing profitability from existing products [66] Question: Cross-selling opportunities - Management highlighted early successes in cross-selling products across different channels, with ongoing efforts to enhance provider engagement [68][69]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________ FORM 10-Q _________________________________________ (Mark One) Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.01 par value MYGN Nasdaq Global Select Market ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) O ...

Raymond James 2023 Institutional Investors Conference March 6, 2023 ©2023Myriad Genetics, Inc. All rights reserv™ed. ©2023Myriad Genetics, Inc. All rights reserved. www.Myriad.com Forward-looking statements and Non-GAAP financial measures Some of the information These statements are based on management’s current expectations and the actual presented here today may events or results may differ materially and adversely from these expectations. We refer you to the documents the Company files from time to time ...