Financial Performance - Testing revenue for the three months ended June 30, 2024, was $211.5 million, an increase of 15.5% compared to $183.5 million for the same period in 2023[9]. - Total revenue for the three months ended June 30, 2024, was $211.5 million, a 29.5% increase from $183.5 million in the same period of 2023[26]. - Total revenue for the six months ended June 30, 2024, was $413.7 million, a 13.4% increase from $364.7 million in the same period of 2023[27]. - The company reported a net loss of $62.7 million for the three months ended June 30, 2024, compared to a net loss of $170.8 million for the same period in 2023[19]. - Net loss for the three months ended June 30, 2024, was $36.7 million, significantly improved from a net loss of $116.1 million for the same period in 2023[11]. - Comprehensive loss for the three months ended June 30, 2024, was $36.5 million, compared to $113.2 million for the same period in 2023, indicating a 67.7% reduction[19]. Expenses and Costs - Total costs and expenses for the three months ended June 30, 2024, were $248.0 million, a decrease of 16.6% from $297.2 million in the same period of 2023[9]. - Selling, general, and administrative expenses rose by $4.2 million to $144.9 million, accounting for 68.5% of total revenue, with increased compensation costs being a significant factor[114]. - Research and development expenses for the three months ended June 30, 2024, increased to $27.1 million, up from $21.2 million in the same period of 2023, reflecting a growth of 27.8%[9]. - The company reported capital expenditures of $11.9 million for the three months ended June 30, 2024, compared to $42.3 million in the same period of 2023[19]. - The total stock-based compensation expense for the six months ended June 30, 2024, was $26.5 million, up from $18.7 million for the same period in 2023, reflecting an increase of approximately 41.9%[79]. Cash Flow and Liquidity - Cash, cash equivalents, and restricted cash at the end of the period were $101.2 million, down from $112.7 million at the end of June 30, 2023[19]. - The company experienced a net cash used in operating activities of $16.0 million for the three months ended June 30, 2024, an improvement from $34.1 million in the same period of 2023[19]. - Total cash and cash equivalents as of June 30, 2024, amounted to $94.7 million, down from $132.1 million as of December 31, 2023[34]. - The Company has a minimum liquidity requirement of $60.0 million under the ABL Facility, with availability of $41.5 million as of June 30, 2024[60]. - Cash paid for income taxes for the six months ended June 30, 2024, was $1.3 million, while cash paid for interest was $0.7 million[88]. Shareholder Information - The weighted average shares outstanding for the three months ended June 30, 2024, were 90.6 million, compared to 81.7 million for the same period in 2023[9]. - As of June 30, 2024, the company had 90.9 million shares of common stock issued and outstanding, an increase from 81.9 million shares a year earlier, representing a growth of approximately 10.9%[66]. - The basic earnings per share (EPS) for the three months ended June 30, 2024, was calculated using a weighted-average of 90.6 million shares, compared to 81.7 million shares for the same period in 2023, indicating a 10.8% increase in shares used for EPS calculation[67]. Revenue Breakdown - Hereditary Cancer testing revenue was $91.5 million for the three months ended June 30, 2024, up from $76.7 million in the same period of 2023, representing a growth of 19.8%[26]. - Prenatal testing revenue rose to $44.4 million in Q2 2024, up from $35.6 million in Q2 2023, marking a 25.0% increase[26]. - Revenue from Medicare accounted for 11% of total revenue for the three and six months ended June 30, 2024, compared to 12% and 11% for the same periods in 2023[29]. - Tumor Profiling revenues decreased by $9.8 million to $63.5 million, primarily due to a decrease in volume for MyChoice CDx[121]. Impairments and Adjustments - The Company recognized a $10.2 million impairment related to the sale of its EndoPredict business, with the fair value considered a Level 2 measurement[42]. - Goodwill impairment charge of $0.8 million was recognized for the six months ended June 30, 2024, reducing the ending balance of goodwill to $286.3 million[50][48]. - The company reported an impairment of goodwill and long-lived assets amounting to $12.8 million for the three months ended June 30, 2024[19]. Future Outlook and Investments - The company plans to continue investing in research and development to drive future growth and innovation in its product offerings[9]. - The company launched the Foresight Universal Plus Test in June 2024 and plans to introduce new products such as FirstGene, Precise Liquid, and Precise minimal residual disease[102][104]. - The company entered into a collaboration with QIAGEN N.V. to develop a distributable homologous recombination deficiency test for global research and companion diagnostics[105]. Legal and Regulatory Matters - The Delaware Court of Chancery consolidated stockholder derivative actions and stayed the consolidated action pending resolution of the Securities Class Action[83]. - The Company has accrued $5.0 million in liabilities related to a settlement agreement with Ravgen, Inc.[63].

For the quarter ended June 2024, Myriad Genetics (MYGN) reported revenue of $211.5 million, up 15.3% over the same period last year. EPS came in at $0.05, compared to -$0.08 in the year-ago quarter.The reported revenue represents a surprise of +2.91% over the Zacks Consensus Estimate of $205.52 million. With the consensus EPS estimate being -$0.01, the EPS surprise was +600.00%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall St ...

Myriad Genetics (MYGN) came out with quarterly earnings of $0.05 per share, beating the Zacks Consensus Estimate of a loss of $0.01 per share. This compares to loss of $0.08 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 600%. A quarter ago, it was expected that this molecular diagnostic company would post a loss of $0.11 per share when it actually produced a loss of $0.01, delivering a surprise of 90.91%.Over the last four q ...

Exhibit 99.1 News Release Media Contact: Megan Manzari Investor Contact: Matt Scalo (385) 318-3718 (801) 584-3532 megan.manzari@myriad.com matt.scalo@myriad.com Myriad Genetics Reports Strong Second Quarter 2024 Financial Results, including 15% Revenue Growth Year-Over-Year; Raises 2024 Financial Guidance and Long-Term Revenue Growth Target to 12% Highlights • Second quarter revenue grew 15% year-over-year to $212 million, driven by Prenatal (25%), Pharmacogenomics (22%), and Hereditary Cancer (19%). • Seco ...

Group 1 - Eurobio Scientific has completed the acquisition of the EndoPredict® genomic test from Myriad Genetics, finalizing the agreement initially announced on May 7, 2024 [1] - The acquisition includes the license to distribute the Prolaris® genomic test for prostate cancer, with combined annual revenues from these activities estimated at approximately €8 million [1] - The EBITDA levels from these new activities are expected to dilute the Group's performance in the short and medium term [1] Group 2 - Eurobio Scientific is a prominent player in specialty in vitro diagnostics, involved in research, manufacturing, and commercialization of diagnostic tests across various fields [2] - The company has a workforce of around 290 employees and operates four production units in France, Germany, the Netherlands, and the United States, along with several affiliates in various European countries [2] - Eurobio Scientific is publicly listed on the Euronext Growth market in Paris and is part of several indices, including Euronext European Rising Tech [3]

SALT LAKE CITY, July 31, 2024 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (NASDAQ:MYGN), a leader in genetic testing and precision medicine, today announced the appointment of Jennifer Fox as Chief Legal Officer, effective September 3, 2024. Fox brings nearly two decades of legal experience in the life sciences sector. Her expertise spans intellectual property, litigation, and regulatory matters, gained through roles in both in-house and private practice settings at industry-leading companies. As Chief Legal ...

SALT LAKE CITY, July 17, 2024 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (NASDAQ:MYGN), a leader in genetic testing and precision medicine, today announced results from its nationwide Cancer Risk Survey: Breast Cancer Edition, which revealed that a majority (63%) of women do not know that there is an increased risk of breast cancer for women with dense breasts. The survey, now in its third year, focused on understanding the role of breast density and cancer risk among women ages 18+ in the U.S. Key survey ta ...

Myriad Genetics, Inc. (MYGN) recently announced an agreement with Personalis, Inc. to cross-license patent estates covering tumor-informed approaches to detect minimal residual disease (MRD).The latest collaboration should help Myriad Genetics strengthen its market presence and broaden patients’ access to the benefits of MRD testing.About MRD TestMRD tests are blood-based diagnostic tools that enable clinicians to monitor therapeutic responses to cancer treatment more closely than with traditional cancer de ...

Myriad Genetics, Inc. (MYGN) recently secured a second foundational patent from the United States Patent and Trademark Office that bolsters its abilities to launch a tumor-informed, high-definition, molecular residual disease (MRD) assay. U.S. patent no. 12,024,749, entitled “Combinatorial DNA Screening,” covers the company’s breakthrough platform MRD technology, which enables highly sensitive and specific tumor-informed, sequencing-based MRD assays such as Precise MRD.The latest development reveals another ...

Core Viewpoint - Myriad Genetics has received a second patent for its tumor-informed, high-definition molecular residual disease (MRD) assay, enhancing its market position in precision medicine [1][3]. Patent Developments - The newly issued U.S. patent no. 12,024,749, titled "Combinatorial DNA Screening," focuses on Myriad's MRD technology, which detects circulating tumor DNA in patient fluid samples [1][2]. - Earlier this year, Myriad received a complementary patent for methods of preparing cell-free DNA, which also supports high sensitivity tumor-informed MRD assays [2]. Technology and Market Position - The combination of these patents positions Myriad to establish a proprietary MRD assay capable of detecting tumor DNA at lower levels than competitors, utilizing genome-scale sequencing technology [2]. - The company aims to leverage its existing technology and infrastructure to commercialize the Precise MRD assay, enhancing oncology care for patients [3]. Ongoing Research and Collaborations - Myriad is actively developing the Precise MRD assay through high-impact studies and collaborations with notable institutions, including Memorial Sloan Kettering and The University of Texas MD Anderson Cancer Center [3][4]. - Preliminary results from these collaborations are anticipated to be released in the fall [3]. Company Overview - Myriad Genetics is a leader in genetic testing and precision medicine, focusing on advancing health through genetic insights that improve patient care and reduce healthcare costs [5].