Myriad Genetics Announces Select Preliminary Fourth Quarter and Full Year 2024 Financial Results and Introduces Full Year 2025 Financial Guidance SALT LAKE CITY, January 15, 2025 – Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in genetic testing and precision medicine, today announced select unaudited preliminary results for the fourth quarter and full year ended December 31, 2024, and provided full year 2025 financial guidance. Select Preliminary Fourth Quarter and Full Year 2024 Financial Results Exhibit ...

Core Viewpoint - Myriad Genetics, Inc. has appointed Sam Raha as the new CEO effective April 30, 2025, succeeding Paul J. Diaz, who will transition to a consulting role for one year [1][2]. Leadership Transition - Sam Raha, currently the COO, has been recognized for his role in shaping the company's long-term growth strategy since joining in December 2023 [2]. - The Board of Directors expressed confidence in Raha's leadership, emphasizing his extensive background in the diagnostics industry [2]. - Paul J. Diaz has been credited with transforming Myriad over the past four-and-a-half years, enhancing its brand and operational capacity [2][3]. Future Strategy - Raha aims to accelerate the company's growth and profitability through innovation and a comprehensive portfolio, while focusing on patient needs and healthcare providers [2]. - The company is also in the process of searching for a new Chief Commercial Officer (CCO) following the promotion of Mark S. Verratti to COO [1][2]. Company Background - Myriad Genetics specializes in molecular diagnostics testing and precision medicine, aiming to improve patient care and reduce healthcare costs through its molecular tests [4].

Core Insights - Myriad Genetics reported a revenue growth of 11% in 2024 compared to 2023, marking the second consecutive year of double-digit growth, with an adjusted EBITDA of $40 million [3][7] - The company reaffirmed its financial guidance for 2025, projecting revenue between $840 million and $860 million, which reflects a growth of 9% to 11% over 2024 [7][18] Financial and Operational Highlights - In Q4 2024, Myriad Genetics generated revenue of $211 million, a 7% increase year-over-year, driven by strong demand in Pharmacogenomics (14% growth) and Prenatal testing (12% growth) [7][12] - Test volumes reached 374,000 in Q4 2024, representing a 4% increase year-over-year [6] - The GAAP gross margin for Q4 2024 was 71.7%, up 300 basis points from the previous year, attributed to improved revenue per test and greater laboratory efficiencies [7] Business Performance by Segment - The Oncology segment generated $82.8 million in revenue during Q4 2024, with hereditary cancer testing revenue growing by 8% year-over-year [9][10] - The Women's Health segment reported revenue of $87.2 million in Q4 2024 [12] - In Pharmacogenomics, GeneSight test revenue was $40.6 million in Q4 2024 [13] Strategic Initiatives - Myriad Genetics entered a strategic collaboration with PATHOMIQ to integrate AI technology into its Oncology portfolio, enhancing its prostate cancer offerings [7][10] - The company announced a five-year strategic alliance with The University of Texas MD Anderson Cancer Center to accelerate the clinical evaluation of its molecular residual disease (MRD) assay [16] Cash Flow and Liquidity - As of December 31, 2024, Myriad had cash and cash equivalents of $102 million, with total liquidity of approximately $158 million [14][14] Future Outlook - The company is optimistic about 2025, anticipating contributions from recent product launches, including Prequel with 8-week Gestational Age and Precise Tumor [4][18] - Myriad plans to commercially launch its first AI-driven prostate cancer test later in 2025, which will complement its existing offerings [10][11]

Core Viewpoint - Myriad Genetics and PATHOMIQ have entered a strategic collaboration for Myriad to exclusively license PATHOMIQ_PRAD, an AI technology platform for prostate cancer, in the United States [1][5]. Group 1: Collaboration Details - The partnership aims to enhance Myriad's Oncology Solutions by integrating PATHOMIQ_PRAD, providing urologists and radiation oncologists with advanced molecular and AI-powered testing solutions [2][3]. - Myriad's existing offerings will be complemented by this collaboration, which aligns with NCCN guidelines for prostate cancer care [2]. Group 2: Technology and Innovation - PATHOMIQ's AI platform decodes complex morphological structures in cancer pathology, enabling rapid deployment of new use cases to predict patient outcomes and treatment responses [3][4]. - The AI model has demonstrated high prediction accuracy, outperforming existing markers in both Caucasian and African American patient cohorts [4]. Group 3: Market Impact and Future Plans - Myriad plans to commercially launch its first AI-driven prostate cancer clinical test later in 2025, aiming to provide personalized treatment options [5][10]. - The collaboration is expected to accelerate the development timelines for clinical validation of both Prolaris and PATHOMIQ_PRAD tests [4].

SALT LAKE CITY, Feb. 19, 2025 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (NASDAQ:MYGN), a leader in genetic and genomic tumor testing and precision medicine, has been named on the Forbes list of America's Best Employers 2025. This prestigious recognition is presented in collaboration with Statista, the world-leading statistics portal and industry ranking provider. "Working at Myriad Genetics means being part of a dynamic team dedicated to empowering every individual by revealing the answers inside each of us ...

Core Points - Myriad Genetics, Inc. has been recognized on Forbes' list of America's Best Employers 2025, highlighting its status as a leader in genetic and genomic tumor testing and precision medicine [1][2] - The company received positive feedback from its employees, with 84% stating it is a Great Place To Work, which is 27 percentage points higher than the average U.S. company [2] Summary by Sections Company Recognition - Myriad Genetics has been included in the prestigious Forbes list, which is a significant accolade for the company [1] - The recognition is based on an independent survey conducted by Forbes and Statista, involving over 217,000 U.S. employees from companies with at least 1,000 employees [3] Employee Satisfaction - The chief people officer of Myriad Genetics emphasized the company's commitment to innovation and employee empowerment [2] - The high percentage of employees who view the company positively indicates a strong workplace culture [2] Survey Methodology - The selection process for America's Best Employers involved more than 6.5 million employer evaluations, focusing on personal evaluations from employees and public evaluations from friends and family [3] Company Overview - Myriad Genetics specializes in genetic tests that assess disease risk and guide treatment decisions, aiming to improve patient care and reduce healthcare costs [6]

Core Viewpoint - Myriad Genetics, Inc. will hold its fourth quarter and full year 2024 earnings conference call on February 24, 2025, providing a financial overview and business update [1] Upcoming Investor Conferences - Management will participate in three upcoming investor healthcare conferences: - TD Cowen 45th Annual Health Care Conference on March 4, 2025, at 9:50 am ET [4] - Raymond James 46th Annual Institutional Investors Conference on March 4, 2025, at 4:00 pm ET [4] - Leerink Global Healthcare Conference on March 10, 2025, at 2:20 pm ET [4] Company Overview - Myriad Genetics is a leader in genetic and genomic tumor testing and precision medicine, focusing on advancing health and well-being [3] - The company develops genetic tests that assess disease risk and guide treatment decisions, aiming to improve patient care and reduce healthcare costs [3]

Core Insights - Myriad Genetics, Inc. has entered an agreement to enhance education and access to hereditary cancer testing for CancerCARE for Life members, allowing over 1 million individuals to assess their eligibility for the MyRisk test [1][2] - The collaboration aims to strengthen Myriad's Hereditary Cancer testing business, which has been recognized for its significant advances in genomic medicine [2][3] Company Developments - Myriad Genetics' shares experienced a decline of 1.5% following the announcement of the collaboration [3] - The MyRisk Hereditary Cancer Test has been gaining synergies, and it was named one of the top 10 significant advances in genomic medicine by the American Journal of Human Genetics in December 2024 [3][4] - The company has a market capitalization of $1.13 billion and a long-term EPS growth rate of 44%, significantly higher than the industry average of 20% [4] Product Information - MyRisk with RiskScore is the first industry-leading hereditary cancer test that evaluates 48 genes associated with hereditary cancer risk for 11 different cancers [5] - The test provides a five-year and remaining lifetime breast cancer risk assessment when combined with family history and other clinical factors [5] Industry Outlook - The global hereditary cancer testing market was valued at $3.5 billion in 2021 and is projected to grow at a compound annual growth rate of 11.6% through 2031, driven by an increasing geriatric population and rising cancer incidence [8] - The collaboration with CancerCARE is expected to enhance market sentiment towards Myriad Genetics' stock [4] Additional Collaborations - In January, Myriad Genetics partnered with sports broadcaster Hannah Storm, who will serve as an ambassador for the Breast Cancer Risk Assessment Program [9]

Core Insights - Myriad Genetics, Inc. has partnered with INTERLINK Care Management to improve education and access to hereditary cancer testing for CancerCARE for Life members [1][4] - The agreement allows over one million individuals in CancerCARE's network to evaluate their eligibility for the MyRisk test through the MyGeneHistory quiz [2][3] Company Overview - Myriad Genetics is a leader in genetic and genomic tumor testing and precision medicine, focusing on advancing health and well-being through genetic insights [6] - The company offers the MyRisk with RiskScore Hereditary Cancer Test, which evaluates 48 genes linked to hereditary cancer risk and provides personalized risk assessments for various cancers [3][4] Industry Context - CancerCARE for Life is one of the largest cancer prevention and management programs in the U.S., combining education with personalized care to enhance member experiences [5] - The collaboration aims to increase access to genetic screening, enabling patients to make informed decisions regarding their health [4][5]

SALT LAKE CITY, Feb. 05, 2025 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in genetic and tumor genomic testing and precision medicine, announced that the United States Patent and Trademark Office has issued two new patents that further advance Myriad’s ability to bring its tumor-informed, high-definition, molecular residual disease (MRD) assay to market. US patent No. 12,215,391 relates to Myriad’s proprietary automated methods of MRD analysis. Specifically, the claims are relevant to ...