SALT LAKE CITY, Aug. 18, 2025 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc., (NASDAQ: MYGN), a leader in molecular diagnostic testing and precision medicine, today announced that Ben Wheeler has been promoted to Chief Financial Officer, effective August 16, 2025. Ben has been with Myriad for more than 13 years, joining the Company in December 2011 as assistant controller and advancing through leadership roles including vice president, corporate controller; senior vice president, accounting; and since 2022, chie ...

Core Insights - The Cancer Risk Survey reveals a contradiction in women's attitudes towards health screenings, with 80% expressing fear of screenings but 75% finding reassurance in advanced screenings like genetic testing [1][2][3] Group 1: Survey Findings - 37% of women believe genetic testing can aid in managing breast health, yet around 40% are unaware of its existence [2] - Only 14% of respondents have undergone genetic testing, while over 25% of women in OB/GYN settings qualify for hereditary cancer testing [2][3] - More than 50% of respondents consider knowing their parents' health history very important, but only about 30% know it very well [4] Group 2: Importance of Genetic Testing - Genetic tests, such as the MyRisk Hereditary Cancer Test with RiskScore, provide critical information about hereditary cancer risks, leading to more frequent screenings if necessary [3][6] - Combining genetic insights with family history can help calculate a woman's five-year and lifetime risk of breast cancer, offering options for medical management [6] Group 3: Survey Methodology - The nationwide survey was conducted online with a sample of 1,002 English-speaking adult females, including 404 who met hereditary cancer risk testing criteria [7] - The margin of error for the total sample is +/- 3.1%, and for high-risk women, it is +/- 4.9% at a 95% confidence level [8]

Core Insights - Myriad Genetics reported a 1% year-over-year increase in revenues for Q2 2025, totaling $213.1 million [2] Company Overview - Myriad Genetics is involved in the biotechnology sector, focusing on genetic testing and related services [2] - The company has a model portfolio that includes small and mid-cap stocks, providing deep analysis for investors [2] Financial Performance - The revenue growth of Myriad Genetics is attributed to specific items that occurred during the reporting period [2]

PART I - Financial Information [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents Myriad Genetics, Inc.'s unaudited condensed consolidated financial statements and accompanying notes, detailing accounting policies, revenue, assets, debt, equity, and cash flows [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) | (in millions) | June 30, 2025 | December 31, 2024 | | :-------------- | :------------ | :---------------- | | **ASSETS** | | | | Total current assets | $284.3 | $298.0 | | Operating lease right-of-use assets | 51.2 | 55.0 | | Property, plant, and equipment, net | 113.0 | 117.4 | | Intangibles, net | 170.1 | 262.4 | | Goodwill | 51.6 | 286.3 | | Other assets | 7.1 | 8.5 | | **Total assets** | **$677.3** | **$1,027.6** | | **LIABILITIES AND STOCKHOLDERS' EQUITY** | | | | Total current liabilities | $199.9 | $164.1 | | Unrecognized tax benefits | 1.2 | 32.7 | | Long-term debt | — | 39.6 | | Noncurrent operating lease liabilities | 86.2 | 87.9 | | Other long-term liabilities | 1.9 | 2.2 | | **Total liabilities** | **$289.2** | **$326.5** | | Total stockholders' equity | $388.1 | $701.1 | | **Total liabilities and stockholders' equity** | **$677.3** | **$1,027.6** | - Total assets decreased by **$350.3 million** from December 31, **2024**, to June 30, **2025**, primarily due to significant reductions in goodwill and intangible assets[11](index=11&type=chunk) - Total stockholders' equity decreased by **$313.0 million**, largely driven by an increase in accumulated deficit from **$(756.8) million** to **$(1,087.4) million**[11](index=11&type=chunk) [Condensed Consolidated Statements of Operations](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) | (in millions, except per share amounts) | Three months ended June 30, 2025 | Three months ended June 30, 2024 | Six months ended June 30, 2025 | Six months ended June 30, 2024 | | :-------------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Revenue | $213.1 | $211.5 | $409.0 | $413.7 | | Cost of revenue | 61.3 | 64.4 | 123.0 | 128.9 | | Gross profit | 151.8 | 147.1 | 286.0 | 284.8 | | Research and development expense | 25.6 | 27.1 | 53.1 | 52.7 | | Sales and marketing expense | 71.9 | 72.8 | 141.1 | 142.2 | | General and administrative expense | 66.8 | 72.1 | 133.3 | 142.7 | | Goodwill and long-lived asset impairment charges | 316.7 | 11.6 | 316.7 | 11.6 | | Total operating expenses | 481.0 | 183.6 | 644.2 | 349.2 | | Operating loss | (329.2) | (36.5) | (358.2) | (64.4) | | Net loss | $(330.5) | $(36.7) | $(330.6) | $(62.7) | | Net loss per share: Basic and Diluted | $(3.57) | $(0.41) | $(3.59) | $(0.69) | - The Company reported a significant increase in net loss for both the three and six months ended June 30, **2025**, primarily driven by **$316.7 million** in goodwill and long-lived asset impairment charges[14](index=14&type=chunk) [Condensed Consolidated Statements of Comprehensive Loss](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Loss) | (in millions) | Three months ended June 30, 2025 | Three months ended June 30, 2024 | Six months ended June 30, 2025 | Six months ended June 30, 2024 | | :-------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Net loss | $(330.5) | $(36.7) | $(330.6) | $(62.7) | | Change in unrealized loss on available-for-sale debt securities, net of tax | — | 0.1 | — | 0.1 | | Change in foreign currency translation adjustment, net of tax | 0.5 | 0.1 | 0.7 | (1.0) | | Reclassification of cumulative translation adjustment to income upon sale or liquidation of certain foreign entities, net of tax | — | — | — | 0.7 | | **Comprehensive loss** | **$(330.0)** | **$(36.5)** | **$(329.9)** | **$(62.9)** | - Comprehensive loss for the six months ended June 30, **2025**, was **$(329.9) million**, largely mirroring the net loss, with a positive foreign currency translation adjustment of **$0.7 million**[16](index=16&type=chunk) [Condensed Consolidated Statements of Stockholders' Equity](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders'%20Equity) | (in millions) | Common stock | Additional paid-in capital | Accumulated other comprehensive loss | Accumulated deficit | Myriad Genetics, Inc. Stockholders' equity | | :-------------- | :----------- | :------------------------- | :--------------------------------- | :------------------ | :--------------------------------------- | | BALANCES AT DECEMBER 31, 2024 | $0.9 | $1,457.8 | $(0.8) | $(756.8) | $701.1 | | Issuance of common stock under stock-based compensation plans, net of shares exchanged for withholding tax | — | (5.8) | — | — | (5.8) | | Stock-based compensation expense | — | 9.5 | — | — | 9.5 | | Net loss | — | — | — | (0.1) | (0.1) | | Other comprehensive income, net of tax | — | — | 0.2 | — | 0.2 | | BALANCES AT MARCH 31, 2025 | $0.9 | $1,461.5 | $(0.6) | $(756.9) | $704.9 | | Issuance of common stock under stock-based compensation plans, net of shares exchanged for withholding tax | — | 2.5 | — | — | 2.5 | | Stock-based compensation expense | — | 10.7 | — | — | 10.7 | | Net loss | — | — | — | (330.5) | (330.5) | | Other comprehensive income, net of tax | — | — | 0.5 | — | 0.5 | | BALANCES AT JUNE 30, 2025 | $0.9 | $1,474.7 | $(0.1) | $(1,087.4) | $388.1 | - Total stockholders' equity significantly decreased from **$701.1 million** at December 31, **2024**, to **$388.1 million** at June 30, **2025**, primarily due to the net loss of **$(330.5) million** incurred during the period[19](index=19&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) | (in millions) | Six months ended June 30, 2025 | Six months ended June 30, 2024 | | :-------------- | :----------------------------- | :----------------------------- | | **CASH FLOWS FROM OPERATING ACTIVITIES:** | | | | Net loss | $(330.6) | $(62.7) | | Impairment of goodwill and long-lived assets | 316.7 | 12.8 | | Net cash used in operating activities | $(29.9) | $(16.0) | | **CASH FLOWS FROM INVESTING ACTIVITIES:** | | | | Capital expenditures | $(8.1) | $(11.9) | | Capitalization of intangible assets | $(7.1) | $(5.6) | | Net cash used in investing activities | $(15.2) | $(13.5) | | **CASH FLOWS FROM FINANCING ACTIVITIES:** | | | | Proceeds from revolving credit facility | 40.0 | 80.0 | | Repayment of revolving credit facility | (20.5) | (80.0) | | Net cash provided by (used in) financing activities | $16.2 | $(6.4) | | **Net decrease in cash, cash equivalents, and restricted cash** | **$(28.2)** | **$(39.7)** | | Cash, cash equivalents, and restricted cash at end of the period | $83.7 | $101.2 | - Net cash used in operating activities increased to **$(29.9) million** for the six months ended June 30, **2025**, from **$(16.0) million** in the prior year, despite a large non-cash impairment charge[22](index=22&type=chunk) - Financing activities provided **$16.2 million** in cash in **2025**, a significant improvement from cash used in **2024**, primarily due to net proceeds from the revolving credit facility[22](index=22&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) - The notes provide critical context for the financial statements, detailing the Company's business, accounting policies, and significant events impacting financial performance[23](index=23&type=chunk)[24](index=24&type=chunk)[25](index=25&type=chunk) [1. BASIS OF PRESENTATION](index=11&type=section&id=1.%20BASIS%20OF%20PRESENTATION) - Myriad Genetics, Inc. is a molecular diagnostic testing and precision company, with financial statements prepared in accordance with U.S. GAAP for interim reporting[23](index=23&type=chunk)[24](index=24&type=chunk) - The Company's business experiences seasonality, with the quarters ending March 31 and September 30 typically weaker due to annual patient deductible resets and summer vacation schedules[26](index=26&type=chunk) [2. REVENUE](index=11&type=section&id=2.%20REVENUE) - Revenue is primarily generated from molecular diagnostic testing and recognized when test results are released to healthcare providers or patients[30](index=30&type=chunk) | (in millions) | Three months ended June 30, 2025 | Three months ended June 30, 2024 | Six months ended June 30, 2025 | Six months ended June 30, 2024 | | :-------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Hereditary Cancer | $96.3 | $91.5 | $182.6 | $179.6 | | Tumor Profiling | 31.4 | 32.6 | 60.7 | 63.5 | | Prenatal | 47.6 | 44.4 | 96.9 | 88.7 | | Pharmacogenomics | 37.8 | 43.0 | 68.8 | 81.9 | | **Total revenue** | **$213.1** | **$211.5** | **$409.0** | **$413.7** | [3. FAIR VALUE MEASUREMENTS](index=12&type=section&id=3.%20FAIR%20VALUE%20MEASUREMENTS) - The Company classifies fair value measurements into a three-level hierarchy, with long-term debt considered a **Level 2** measurement[33](index=33&type=chunk)[34](index=34&type=chunk)[35](index=35&type=chunk) - The fair value of the Company's current debt was estimated at **$59.7 million** as of June 30, **2025**[35](index=35&type=chunk) [4. PROPERTY, PLANT, AND EQUIPMENT, NET](index=14&type=section&id=4.%20PROPERTY,%20PLANT,%20AND%20EQUIPMENT,%20NET) | (in millions) | June 30, 2025 | December 31, 2024 | | :-------------- | :------------ | :---------------- | | Leasehold improvements | $79.2 | $78.5 | | Equipment | 113.2 | 148.5 | | Property, plant, and equipment, gross | 192.4 | 227.0 | | Less accumulated depreciation | (79.4) | (109.6) | | **Property, plant, and equipment, net** | **$113.0** | **$117.4** | | (in millions) | Three months ended June 30, 2025 | Three months ended June 30, 2024 | Six months ended June 30, 2025 | Six months ended June 30, 2024 | | :-------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Depreciation expense | $4.9 | $4.6 | $10.0 | $9.7 | [5. GOODWILL AND INTANGIBLE ASSETS](index=14&type=section&id=5.%20GOODWILL%20AND%20INTANGIBLE%20ASSETS) - The Company recognized a goodwill impairment charge of **$234.7 million** during the quarter ended June 30, **2025**, due to a sustained decline in market capitalization and downward revisions to forecasts[37](index=37&type=chunk)[39](index=39&type=chunk) | (in millions) | Total | | :-------------- | :---- | | Beginning balance | $286.3 | | Goodwill impairment | (234.7) | | **Ending balance** | **$51.6** | - Intangible asset impairment charges totaled **$82.0 million** for the Pharmacogenomics (**$71.8 million**) and Gateway (**$10.2 million**) asset groups during the period ended June 30, **2025**[41](index=41&type=chunk)[42](index=42&type=chunk)[43](index=43&type=chunk) [6. ACCRUED LIABILITIES](index=17&type=section&id=6.%20ACCRUED%20LIABILITIES) | (in millions) | June 30, 2025 | December 31, 2024 | | :-------------- | :------------ | :---------------- | | Employee compensation and benefits | $40.5 | $57.4 | | Accrued taxes payable | 5.1 | 5.1 | | Refunds payable and reserves | 18.0 | 19.9 | | Accrued royalties | 5.7 | 6.5 | | Escrow Liability | 7.5 | 7.5 | | Other accrued liabilities | 23.8 | 22.6 | | **Total accrued liabilities** | **$100.6** | **$119.0** | - Total accrued liabilities decreased by **$18.4 million** from December 31, **2024**, to June 30, **2025**, primarily due to a reduction in employee compensation and benefits[45](index=45&type=chunk) [7. DEBT](index=17&type=section&id=7.%20DEBT) - As of June 30, **2025**, the Company had **$59.4 million** in current debt under the ABL Facility, which was fully repaid subsequent to quarter-end with proceeds from a new term loan facility[46](index=46&type=chunk)[50](index=50&type=chunk) - The weighted average interest rate for borrowings under the ABL Facility was **6.7%** as of June 30, **2025**, down from **7.8%** at December 31, **2024**[48](index=48&type=chunk) [8. PREFERRED AND COMMON STOCKHOLDERS' EQUITY](index=19&type=section&id=8.%20PREFERRED%20AND%20COMMON%20STOCKHOLDERS'%20EQUITY) - As of June 30, **2025**, there were **93.1 million** shares of common stock issued and outstanding, an increase from **91.3 million** at December 31, **2024**[52](index=52&type=chunk)[53](index=53&type=chunk) | (in millions) | Six months ended June 30, 2025 | Six months ended June 30, 2024 | | :-------------- | :----------------------------- | :----------------------------- | | Beginning common stock issued and outstanding | 91.3 | 89.9 | | Common stock issued upon exercise of options, vesting of restricted stock units, and purchases under employee stock purchase plan | 1.8 | 1.0 | | **Common stock issued and outstanding at end of period** | **93.1** | **90.9** | - **8.3 million** anti-dilutive options and RSUs were excluded from the computation of diluted earnings per share for the three and six months ended June 30, **2025**[54](index=54&type=chunk) [9. STOCK-BASED COMPENSATION](index=19&type=section&id=9.%20STOCK-BASED%20COMPENSATION) - Stockholders approved an amendment to the **2017** Plan in June **2025**, increasing available shares for awards by **6.5 million**, with **5.3 million** shares remaining available for grant as of June 30, **2025**[55](index=55&type=chunk) | (in millions) | Three months ended June 30, 2025 | Three months ended June 30, 2024 | Six months ended June 30, 2025 | Six months ended June 30, 2024 | | :-------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Cost of revenue | $0.3 | $0.4 | $0.6 | $0.7 | | Research and development expense | 2.0 | 1.6 | 4.1 | 2.8 | | Sales and marketing expense | 2.0 | 2.6 | 3.5 | 4.5 | | General and administrative expense | 6.4 | 9.9 | 12.0 | 18.5 | | **Total stock-based compensation expense** | **$10.7** | **$14.5** | **$20.2** | **$26.5** | - As of June 30, **2025**, there was **$66.2 million** of total unrecognized stock-based compensation expense related to RSUs, expected to be recognized over a weighted-average period of **2.1 years**[62](index=62&type=chunk) [10. INCOME TAXES](index=21&type=section&id=10.%20INCOME%20TAXES) | (in millions) | Three months ended June 30, 2025 | Three months ended June 30, 2024 | Six months ended June 30, 2025 | Six months ended June 30, 2024 | | :-------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Income tax benefit | $(0.1) | $(0.5) | $(29.4) | $(0.4) | | Effective tax rate | 0.0% | 1.3% | 8.2% | 0.6% | - For the six months ended June 30, **2025**, the income tax benefit was **$29.4 million**, significantly higher than the prior year, primarily due to a **$29.6 million** discrete tax benefit from the release of unrecognized tax benefits related to CARES Act tax refund claims[63](index=63&type=chunk)[64](index=64&type=chunk) [11. LEASES](index=23&type=section&id=11.%20LEASES) - The Company leases various assets including office spaces, R&D facilities, vehicles, and office equipment, with remaining lease terms ranging from one to fourteen years[66](index=66&type=chunk) - An amendment in **2024** to the west Salt Lake City facility lease added approximately **63,000 square feet** of laboratory space, with future rent payments totaling **$18.2 million** commencing in fiscal year **2026**[67](index=67&type=chunk) [12. COMMITMENTS AND CONTINGENCIES](index=23&type=section&id=12.%20COMMITMENTS%20AND%20CONTINGENCIES) - The Company is involved in various legal disputes, claims, and investigations, including a qui tam lawsuit filed in November **2022** alleging False Claims Act violations related to physician remuneration[68](index=68&type=chunk)[74](index=74&type=chunk) - As of June 30, **2025**, no material accrual for loss contingencies associated with legal proceedings has been recorded, but an unfavorable outcome could be material to the Company's financial results[72](index=72&type=chunk) [13. SEGMENT REPORTING AND RELATED INFORMATION](index=24&type=section&id=13.%20SEGMENT%20REPORTING%20AND%20RELATED%20INFORMATION) - The Company operates as a single operating segment, with the President and Chief Executive Officer identified as the Chief Operating Decision Maker[75](index=75&type=chunk) [14. SUPPLEMENTAL CASH FLOW INFORMATION](index=24&type=section&id=14.%20SUPPLEMENTAL%20CASH%20FLOW%20INFORMATION) | (in millions) | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :-------------- | :----------------------------- | :----------------------------- | | Cash paid for income taxes | $0.3 | $1.3 | | Cash paid for interest | 1.7 | 0.7 | | (in millions) | June 30, 2025 | June 30, 2024 | | :-------------- | :------------ | :------------ | | Cash and cash equivalents | $74.4 | $92.4 | | Restricted cash | 9.3 | 8.8 | | **Total cash, cash equivalents, and restricted cash** | **$83.7** | **$101.2** | [15. ACCUMULATED OTHER COMPREHENSIVE LOSS](index=25&type=section&id=15.%20ACCUMULATED%20OTHER%20COMPREHENSIVE%20LOSS) - Foreign currency translation adjustments are included in Accumulated other comprehensive loss as a separate component of Stockholders' equity[79](index=79&type=chunk) | (in millions) | | | :-------------- | :---- | | Ending balance December 31, 2024 | $(0.8) | | Period translation adjustments | 0.7 | | **Ending balance June 30, 2025** | **$(0.1)** | [16. SUBSEQUENT EVENTS](index=25&type=section&id=16.%20SUBSEQUENT%20EVENTS) - On July 31, **2025**, the Company entered into a new **$200 million** term loan credit facility with OrbiMed, with an initial **$125 million** funded, used to repay the existing ABL Facility (**$60.2 million**)[81](index=81&type=chunk) - The new Credit Facility matures on **July 31, 2030**, bears interest at one-month SOFR Rate (min **2.50%**) plus a **6.50%** margin, and includes a minimum trailing twelve-month revenue test starting at **$615.0 million** in December **2025**[82](index=82&type=chunk)[85](index=85&type=chunk) - The 'One Big Beautiful Bill Act,' signed into law on July 4, **2025**, is not expected to have a material impact on the Company's current or net deferred tax balances[86](index=86&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=27&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the Company's financial performance and condition for the three and six months ended June 30, 2025, covering revenue, operating expenses, significant impairment charges, liquidity, and critical accounting estimates [General](index=29&type=section&id=General) - Myriad is a leading molecular diagnostic testing and precision company focused on advancing health through molecular tests that assess disease risk and guide treatment decisions[93](index=93&type=chunk) - The Company's strategy is built on three pillars: driving accelerated growth and profitability in the Cancer Care Continuum market, growing Prenatal Health and Mental Health revenues, and delivering sustained, profitable growth through financial discipline[94](index=94&type=chunk) [Business Updates](index=30&type=section&id=Business%20Updates) - In July **2025**, the Company closed a **$125 million** secured term debt financing with OrbiMed, with an option for an additional **$75 million**[98](index=98&type=chunk) - The Company launched early access of FirstGene Multiple Prenatal Screen in June **2025** through a large, multi-site study called CONNECTOR[98](index=98&type=chunk) - MRD data from the MONSTAR-SCREEN-3 study, presented in May **2025**, demonstrated successful pan-cancer implementation of WGS-based personalized ctDNA detection, highlighting the potential of the Precise MRD test[98](index=98&type=chunk) [Results of Operations for the Three Months Ended June 30, 2025 and 2024](index=30&type=section&id=Results%20of%20Operations%20for%20the%20Three%20Months%20Ended%20June%2030,%202025%20and%202024) For the three months ended June 30, 2025, total revenue increased slightly by $1.6 million, but significant goodwill and long-lived asset impairment charges of $316.7 million led to a substantial operating and net loss [Revenue](index=30&type=section&id=Revenue_3M) | (in millions) | 2025 | 2024 | Change | % of Total Revenue 2025 | % of Total Revenue 2024 | | :-------------- | :--- | :--- | :----- | :---------------------- | :---------------------- | | Hereditary Cancer | $96.3 | $91.5 | $4.8 | 45% | 44% | | Tumor Profiling | 31.4 | 32.6 | (1.2) | 15% | 15% | | Prenatal | 47.6 | 44.4 | 3.2 | 22% | 21% | | Pharmacogenomics | 37.8 | 43.0 | (5.2) | 18% | 20% | | **Total revenue** | **$213.1** | **$211.5** | **$1.6** | **100%** | **100%** | | (in thousands) | 2025 | 2024 | % Change | | :-------------- | :--- | :--- | :------- | | Hereditary Cancer | 78 | 73 | 7% | | Tumor Profiling | 12 | 14 | (14)% | | Prenatal | 159 | 173 | (8)% | | Pharmacogenomics | 135 | 129 | 5% | | **Total** | **384** | **389** | **(1)%** | - Pharmacogenomics revenue decreased by **$5.2 million** due to a **16% decrease** in average revenue per test, negatively impacted by UnitedHealthcare's change in GeneSight test coverage[97](index=97&type=chunk) [Cost of Revenue](index=32&type=section&id=Cost%20of%20Revenue_3M) | (in millions) | 2025 | 2024 | Change | % Change | | :-------------- | :--- | :--- | :----- | :------- | | Cost of revenue | $61.3 | $64.4 | $(3.1) | (5)% | | Cost of revenue as a % of total revenue | 28.8% | 30.4% | | | - Cost of revenue decreased by **$3.1 million**, primarily due to a reduction in the cost per test driven by lower costs of laboratory reagents and supplies[99](index=99&type=chunk) [Research and Development Expense](index=32&type=section&id=Research%20and%20Development%20Expense_3M) | (in millions) | 2025 | 2024 | Change | % Change | | :-------------- | :--- | :--- | :----- | :------- | | Research and development expense | $25.6 | $27.1 | $(1.5) | (6)% | | Research and development expense as a % of total revenue | 12.0% | 12.8% | | | - Research and development expenses remained relatively consistent year-over-year, reflecting stable operating activities and disciplined cost management[100](index=100&type=chunk) [Sales and Marketing Expense](index=32&type=section&id=Sales%20and%20Marketing%20Expense_3M) | (in millions) | 2025 | 2024 | Change | % Change | | :-------------- | :--- | :--- | :----- | :------- | | Sales and marketing expense | $71.9 | $72.8 | $(0.9) | (1)% | | Sales and marketing expense as a % of total revenue | 33.7% | 34.4% | | | - Sales and marketing expenses were relatively consistent with the prior year, indicating stable operating activities[101](index=101&type=chunk) [General and Administrative Expense](index=32&type=section&id=General%20and%20Administrative%20Expense_3M) | (in millions) | 2025 | 2024 | Change | % Change | | :-------------- | :--- | :--- | :----- | :------- | | General and administrative expense | $66.8 | $72.1 | $(5.3) | (7)% | | General and administrative expense as a % of total revenue | 31.3% | 34.1% | | | - General and administrative expense decreased by **$5.3 million**, primarily due to lower consulting fees, reduced amortization for previously impaired intangible assets, and decreased compensation expenses[102](index=102&type=chunk) [Goodwill and Long-lived Asset Impairment Charges](index=32&type=section&id=Goodwill%20and%20Long-lived%20Asset%20Impairment%20Charges_3M) | (in millions) | 2025 | 2024 | Change | % Change | | :-------------- | :--- | :--- | :----- | :------- | | Goodwill and long-lived asset impairment charges | $316.7 | $11.6 | $305.1 | 2,630% | | Goodwill and long-lived asset impairment charges as a % of total revenue | 148.6% | 5.5% | | | - The significant increase in impairment charges in **2025** includes **$234.7 million** for goodwill and **$82.0 million** for intangible assets related to the Women's Health and Pharmacogenomics reporting units[103](index=103&type=chunk) [Other Income (Expense), Net](index=34&type=section&id=Other%20Income%20(Expense),%20Net_3M) | (in millions) | 2025 | 2024 | Change | % Change | | :-------------- | :--- | :--- | :----- | :------- | | Other income (expense), net | $(1.4) | $(0.7) | $(0.7) | 100.0% | - Other income (expense), net decreased by **$0.7 million** due to an increase in interest expense[104](index=104&type=chunk) [Income Tax Benefit](index=34&type=section&id=Income%20Tax%20Benefit_3M) | (in millions) | 2025 | 2024 | Change | % Change | | :-------------- | :--- | :--- | :----- | :------- | | Income tax benefit | $(0.1) | $(0.5) | $0.4 | (80.0)% | | Effective tax rate | 0.0% | 1.3% | | | - The effective tax rate for the three months ended June 30, **2025**, was **0.0%**, differing from the U.S. federal statutory rate primarily due to valuation allowances and uncertain tax positions, including a valuation allowance against tax-deductible loss from impairment charges[106](index=106&type=chunk) [Results of Operations for the Six Months Ended June 30, 2025 and 2024](index=34&type=section&id=Results%20of%20Operations%20for%20the%20Six%20Months%20Ended%20June%2030,%202025%20and%202024) For the six months ended June 30, 2025, total revenue decreased by $4.7 million, primarily due to declines in Pharmacogenomics and Tumor Profiling, while significant impairment charges of $316.7 million resulted in a substantial net loss [Revenue](index=34&type=section&id=Revenue_6M) | (in millions) | 2025 | 2024 | Change | % of Total Revenue 2025 | % of Total Revenue 2024 | | :-------------- | :--- | :--- | :----- | :---------------------- | :---------------------- | | Hereditary Cancer | $182.6 | $179.6 | $3.0 | 44% | 44% | | Tumor Profiling | 60.7 | 63.5 | (2.8) | 15% | 15% | | Prenatal | 96.9 | 88.7 | 8.2 | 24% | 21% | | Pharmacogenomics | 68.8 | 81.9 | (13.1) | 17% | 20% | | **Total revenue** | **$409.0** | **$413.7** | **$(4.7)** | **100%** | **100%** | | (in thousands) | 2025 | 2024 | % Change | | :-------------- | :--- | :--- | :------- | | Hereditary Cancer | 151 | 144 | 5% | | Tumor Profiling | 24 | 28 | (14)% | | Prenatal | 332 | 345 | (4)% | | Pharmacogenomics | 262 | 253 | 4% | | **Total** | **769** | **770** | **—%** | - Pharmacogenomics revenue decreased by **$13.1 million** due to a **19% decrease** in average revenue per test, significantly impacted by UnitedHealthcare's coverage changes for the GeneSight test[110](index=110&type=chunk) [Cost of Revenue](index=35&type=section&id=Cost%20of%20Revenue_6M) | (in millions) | 2025 | 2024 | Change | % Change | | :-------------- | :--- | :--- | :----- | :------- | | Cost of revenue | $123.0 | $128.9 | $(5.9) | (5)% | | Cost of revenue as a % of total revenue | 30.1% | 31.2% | | | - Cost of revenue decreased by **$5.9 million**, primarily due to a reduction in the cost per test driven by lower costs of laboratory reagents and supplies[111](index=111&type=chunk) [Research and Development Expense](index=35&type=section&id=Research%20and%20Development%20Expense_6M) | (in millions) | 2025 | 2024 | Change | % Change | | :-------------- | :--- | :--- | :----- | :------- | | Research and development expense | $53.1 | $52.7 | $0.4 | 1% | | Research and development expense as a % of total revenue | 13.0% | 12.7% | | | - Research and development expenses remained relatively consistent year-over-year, reflecting stable operating activities[112](index=112&type=chunk) [Sales and Marketing Expense](index=35&type=section&id=Sales%20and%20Marketing%20Expense_6M) | (in millions) | 2025 | 2024 | Change | % Change | | :-------------- | :--- | :--- | :----- | :------- | | Sales and marketing expense | $141.1 | $142.2 | $(1.1) | (1)% | | Sales and marketing expense as a % of total revenue | 34.5% | 34.4% | | | - Sales and marketing expenses were relatively consistent with the prior year[113](index=113&type=chunk) [General and Administrative Expense](index=35&type=section&id=General%20and%20Administrative%20Expense_6M) | (in millions) | 2025 | 2024 | Change | % Change | | :-------------- | :--- | :--- | :----- | :------- | | General and administrative expense | $133.3 | $142.7 | $(9.4) | (7)% | | General and administrative expense as a % of total revenue | 32.6% | 34.5% | | | - General and administrative expense decreased by **$9.4 million**, primarily due to lower consulting fees (**$4.1 million**), reduced amortization for previously impaired intangible assets (**$3.4 million**), and decreased compensation and benefits (**$3.2 million**)[114](index=114&type=chunk) [Goodwill and Long-lived Asset Impairment Charges](index=36&type=section&id=Goodwill%20and%20Long-lived%20Asset%20Impairment%20Charges_6M) | (in millions) | 2025 | 2024 | Change | % Change | | :-------------- | :--- | :--- | :----- | :------- | | Goodwill and long-lived asset impairment charges | $316.7 | $11.6 | $305.1 | 2,630% | | Goodwill and long-lived asset impairment charges as a % of total revenue | 77.4% | 2.8% | | | - The significant increase in impairment charges in **2025** includes **$234.7 million** for goodwill and **$82.0 million** for intangible assets related to the Women's Health and Pharmacogenomics reporting units[115](index=115&type=chunk) [Other Income (Expense), Net](index=36&type=section&id=Other%20Income%20(Expense),%20Net_6M) | (in millions) | 2025 | 2024 | Change | % Change | | :-------------- | :--- | :--- | :----- | :------- | | Other income (expense), net | $(1.8) | $1.3 | $(3.1) | (238)% | - Other income (expense), net changed from a gain in **2024** to a loss in **2025**, primarily due to an increase in interest expense in **2025** and a **$2.2 million** gain recognized on the Precise Tumor acquisition in **2024**[116](index=116&type=chunk) [Income Tax Benefit](index=36&type=section&id=Income%20Tax%20Benefit_6M) | (in millions) | 2025 | 2024 | Change | % Change | | :-------------- | :--- | :--- | :----- | :------- | | Income tax benefit | $(29.4) | $(0.4) | $(29.0) | 7,250% | | Effective tax rate | 8.2% | 0.6% | | | - The significant increase in income tax benefit for the six months ended June 30, **2025**, was primarily due to a **$29.6 million** discrete tax benefit from the release of unrecognized tax benefits related to CARES Act tax refund claims[118](index=118&type=chunk) [Liquidity and Capital Resources](index=36&type=section&id=Liquidity%20and%20Capital%20Resources) - The Company's primary sources of liquidity are cash and cash equivalents, expected cash flows from operations, and amounts available under its new debt financing with OrbiMed[119](index=119&type=chunk) - On July 31, **2025**, the Company entered into a new **$200 million** term loan credit facility with OrbiMed, with an initial **$125 million** draw used to refinance existing indebtedness, including the ABL Facility[120](index=120&type=chunk) - The new Credit Facility imposes operating and financial restrictions, including a minimum trailing twelve-month revenue test, and is secured by substantially all of the Company's assets[124](index=124&type=chunk) | (in millions) | June 30, 2025 | December 31, 2024 | Change | | :-------------- | :------------ | :---------------- | :----- | | Cash and cash equivalents | $74.4 | $102.4 | $(28.0) | - UnitedHealthcare's updated medical policy for pharmacogenetic testing (GeneSight) is expected to continue negatively impacting the Company's revenue, profitability, and cash flow in **2025** and beyond[128](index=128&type=chunk) [Effects of Inflation](index=39&type=section&id=Effects%20of%20Inflation) - Inflation has impacted and may continue to impact labor costs, costs to generate sales and produce testing results, and costs of laboratory supplies, potentially affecting profitability[134](index=134&type=chunk) - Increased inflation has also affected interest rates, which could adversely impact the Company's borrowing rate and ability to obtain additional funding[134](index=134&type=chunk) [Critical Accounting Estimates](index=39&type=section&id=Critical%20Accounting%20Estimates) - During the second quarter of **2025**, an impairment triggering event occurred due to a sustained decline in market capitalization and downward revisions to forecasts, necessitating quantitative impairment testing of goodwill and intangible assets[135](index=135&type=chunk) - Based on these assessments, the Company recognized total goodwill and asset impairment charges of **$316.7 million**[136](index=136&type=chunk) [Goodwill](index=39&type=section&id=Goodwill_Critical_Accounting_Estimates) - A total goodwill impairment charge of **$234.7 million** was recognized in Q2 **2025**, with **$143.5 million** attributable to the Women's Health reporting unit and **$91.2 million** to the Pharmacogenomics reporting unit[138](index=138&type=chunk) - The fair value of the Pharmacogenomics and Women's Health reporting units was measured using market and discounted cash flow approaches, with discount rates of **17.0%** and **16.0%**, respectively[139](index=139&type=chunk) [Intangible Assets](index=40&type=section&id=Intangible%20Assets_Critical_Accounting_Estimates) - Intangible asset impairment charges totaled **$82.0 million** in Q2 **2025**, including **$71.8 million** for Pharmacogenomics developed technology and **$10.2 million** for Gateway intangible assets[144](index=144&type=chunk)[145](index=145&type=chunk) - Fair values were determined using discounted cash flow and relief from royalty models, with discount rates of **17%** for Pharmacogenomics and **16%** for Gateway asset groups[144](index=144&type=chunk)[145](index=145&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=41&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section discusses the Company's exposure to market risks, primarily related to interest rates and foreign currency exchange rates, and their potential impact on financial performance [Interest Rate Risk](index=41&type=section&id=Interest%20Rate%20Risk) - The Company is exposed to interest rate risk through its credit facilities, with a variable interest rate based on SOFR for the new Credit Facility[149](index=149&type=chunk) - A hypothetical **100 basis point** change in the borrowing rate would increase or decrease annual interest expense by **$1.3 million** based on the initial **$125.0 million** draw on the new Credit Facility[149](index=149&type=chunk) [Foreign Currency Exchange Risk](index=41&type=section&id=Foreign%20Currency%20Exchange%20Risk) - Approximately **7%** of the Company's revenue for the three and six months ended June 30, **2025**, was denominated in other currencies, primarily Japanese yen[148](index=148&type=chunk) - A hypothetical **10% change** in the value of the Japanese yen relative to the U.S. dollar would result in a **1% change** in the Company's revenue[148](index=148&type=chunk) - The Company does not currently utilize hedging strategies to mitigate foreign currency risk[148](index=148&type=chunk) [Item 4. Controls and Procedures](index=41&type=section&id=Item%204.%20Controls%20and%20Procedures) This section details the evaluation of the Company's disclosure controls and procedures and reports on any changes in internal control over financial reporting [Evaluation of Disclosure Controls and Procedures](index=41&type=section&id=Evaluation%20of%20Disclosure%20Controls%20and%20Procedures) - As of June 30, **2025**, the Chief Executive Officer and Chief Financial Officer concluded that the Company's disclosure controls and procedures were effective to provide reasonable assurance for timely and accurate reporting[151](index=151&type=chunk) [Changes in Internal Controls](index=41&type=section&id=Changes%20in%20Internal%20Controls) - There were no material changes in the Company's internal control over financial reporting during the three months ended June 30, **2025**[152](index=152&type=chunk) PART II - Other Information [Item 1. Legal Proceedings](index=42&type=section&id=Item%201.%20Legal%20Proceedings) This section refers to Note 12 of the financial statements for detailed information regarding current legal proceedings, including a qui tam lawsuit - Information regarding certain current legal proceedings, including a qui tam lawsuit, is provided in Note **12** to the Condensed Consolidated Financial Statements[153](index=153&type=chunk) [Item 1A. Risk Factors](index=42&type=section&id=Item%201A.%20Risk%20Factors) This section updates key risk factors that could materially affect the Company's business, financial condition, or future results, including those related to liquidity, debt covenants, and changes in insurance coverage - The Company faces risks related to generating sufficient cash flow from operations and securing additional funding, as available capital resources may be consumed more rapidly than expected[155](index=155&type=chunk)[157](index=157&type=chunk) - The new Credit Facility imposes operating and financial restrictions, including a minimum trailing twelve-month revenue test, and non-compliance could have a material adverse impact on operations and liquidity[161](index=161&type=chunk) - UnitedHealthcare's updated medical policy for pharmacogenetic testing (GeneSight) is anticipated to continue negatively impacting the Company's revenue, profitability, and cash flow in **2025** and beyond[160](index=160&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=44&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section states that there were no unregistered sales of equity securities and no repurchases of equity securities during the quarter ended June 30, 2025 - There were no unregistered sales of equity securities during the quarter ended June 30, **2025**[163](index=163&type=chunk) - The Company did not repurchase any of its equity securities during the quarter ended June 30, **2025**[164](index=164&type=chunk) [Item 3. Defaults Upon Senior Securities](index=44&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) This section reports that there were no defaults upon senior securities during the period - No defaults upon senior securities were reported[165](index=165&type=chunk) [Item 4. Mine Safety Disclosures](index=44&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This section states that Mine Safety Disclosures are not applicable to the Company - Mine Safety Disclosures are not applicable to the Company[166](index=166&type=chunk) [Item 5. Other Information](index=45&type=section&id=Item%205.%20Other%20Information) This section provides information regarding Rule 10b5-1 trading plans - No directors or executive officers adopted, modified, or terminated any Rule **10b5-1** trading plans during the quarter ended June 30, **2025**[168](index=168&type=chunk) [Item 6. Exhibits](index=45&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed as part of the Form 10-Q, including the new Credit Agreement, Pledge and Security Agreement, equity incentive plan amendments, and various certifications - Key exhibits include the Credit Agreement and Pledge and Security Agreement dated July 31, **2025**, related to the new term loan facility[169](index=169&type=chunk) - Other exhibits include amendments to the **2017** Employee, Director and Consultant Equity Incentive Plan and certifications by the CEO and CFO[169](index=169&type=chunk) [Signatures](index=46&type=section&id=Signatures) This section contains the required signatures of the Company's principal executive, financial, and accounting officers, certifying the filing of the report - The report is signed by Samraat S. Raha (President and CEO), Scott J. Leffler (CFO), and Natalie Munk (Chief Accounting Officer) on August 6, **2025**[174](index=174&type=chunk)

Core Insights - Myriad Genetics reported Q2 2025 earnings with revenue of $213.1 million, surpassing consensus estimates of $201.9 million, but faced a significant impairment charge of $316.7 million leading to a GAAP net loss [1][5][8] - The company experienced a modest return to revenue growth with a year-over-year increase of 1%, and adjusted EPS of $0.05 exceeded analyst expectations of $(0.01) [1][2][5] - The focus on the Cancer Care Continuum strategy emphasizes investment in oncology and next-generation diagnostic testing, with a strong emphasis on R&D and partnerships [4][3] Financial Performance - Revenue for Q2 2025 was $213.1 million, a 0.8% increase from Q2 2024's $211.5 million [2] - Adjusted operating income rose to $8.6 million, a 16.2% increase from Q2 2024 [2][5] - Gross margin improved to 71.2%, up 1.6 percentage points from 69.5% in Q2 2024 [2][5] Segment Performance - The Oncology segment generated $85.5 million in revenue, with hereditary cancer testing contributing $54.1 million, reflecting a 9% year-over-year volume increase [6] - Women's Health reported $89.8 million in revenue, with prenatal testing revenue rising 7% year-over-year to $47.6 million, despite an 8% decline in prenatal test volume due to workflow issues [7] - The Pharmacogenomics segment, including the GeneSight test, posted $37.8 million in revenue, a 12% decrease attributed to the loss of coverage from UnitedHealthcare [8][12] Operational Highlights - Total test volume was 384,000, showing a slight decline from the previous year, with increases in some areas offset by declines in tumor profiling and prenatal tests [9] - The company reported negative adjusted free cash flow of $(17.1) million, compared to a positive figure last year, and cash and equivalents at period end were $74.4 million [10][15] Strategic Focus - Myriad Genetics is prioritizing technological innovation, securing insurance reimbursement, and expanding market presence, particularly in oncology and women's health [4][3] - The company plans to launch new products, including MRD and AI-enabled prostate cancer tests, in 2026 [12] Outlook - Management raised full-year FY2025 revenue guidance to $818 million to $828 million, with gross margin expectations also increased [16] - Adjusted EPS guidance remains between $(0.02) and $0.02 for FY2025, reflecting the second quarter results and current business outlook [16]

Core Insights - Myriad Genetics reported revenue of $213.1 million for the quarter ended June 2025, marking a year-over-year increase of 0.8% and exceeding the Zacks Consensus Estimate of $201.9 million by 5.55% [1] - The company achieved an EPS of $0.05, which is consistent with the EPS from the same period last year, and delivered a significant EPS surprise of 600% compared to the consensus estimate of -$0.01 [1] Revenue Breakdown by Core Product - Prenatal revenue reached $47.6 million, slightly below the average estimate of $49.93 million, reflecting a year-over-year increase of 10.7% [4] - Hereditary Cancer revenue was $96.3 million, surpassing the average estimate of $88.37 million, with a year-over-year growth of 5.3% [4] - Pharmacogenomics revenue totaled $37.8 million, exceeding the average estimate of $32.08 million, but showing a year-over-year decline of 12.1% [4] - Tumor Profiling revenue was reported at $31.4 million, closely aligning with the average estimate of $31.31 million, and indicating a year-over-year decrease of 3.7% [4] Stock Performance - Myriad's shares have declined by 24.8% over the past month, contrasting with a 1% increase in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 4 (Sell), suggesting potential underperformance relative to the broader market in the near term [3]

Company Performance - Myriad Genetics reported quarterly earnings of $0.05 per share, exceeding the Zacks Consensus Estimate of a loss of $0.01 per share, representing an earnings surprise of +600.00% [1] - The company posted revenues of $213.1 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 5.55% and showing a slight increase from $211.5 million year-over-year [2] - Over the last four quarters, Myriad has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times as well [2] Stock Outlook - Myriad shares have declined approximately 71% since the beginning of the year, contrasting with the S&P 500's gain of 7.6% [3] - The current consensus EPS estimate for the upcoming quarter is $0.01 on revenues of $205.1 million, while for the current fiscal year, the estimate is -$0.01 on revenues of $811.68 million [7] Industry Context - The Medical - Biomedical and Genetics industry, to which Myriad belongs, is currently ranked in the bottom 43% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Myriad's stock performance [5]

Financial Data and Key Metrics Changes - The company reported revenue of $213 million for Q2 2025, representing a 5% year-over-year increase, excluding the impact of UnitedHealthcare's decision on GeneSight and the divested European ENDOPREDICT business [7][34] - Adjusted gross margins improved to 71.5%, an increase of 140 basis points compared to the previous year [12][38] - Adjusted EBITDA for the quarter was $14.5 million, reflecting a 24% growth year-over-year [12][45] Business Line Data and Key Metrics Changes - Hereditary cancer revenue grew by 5% for the quarter, with a 10% volume growth in the oncology channel [23] - GeneSight volume increased by 5% year-over-year, recovering from low single digits [10][31] - Prenatal products, PREQUEL and FORESIGHT, saw a 7% decline in volume year-over-year due to challenges with an order management system, which has since been resolved [11][29] Market Data and Key Metrics Changes - The oncology market showed strong growth, with hereditary cancer testing volume increasing by 14% year-over-year [9][25] - The prenatal health market is expected to grow at or above market rates, driven by new product launches and expanded payer coverage [19][30] - Mental health testing through GeneSight generated revenues of $38 million, with a 5% volume growth year-over-year [31] Company Strategy and Development Direction - The company is focusing on the cancer care continuum (CCC) as a strategic priority to drive accelerated growth and profitability [14][15] - Three strategic pillars include enhancing hereditary cancer testing, growing prenatal and mental health revenues, and maintaining financial discipline [18][20] - The company plans to increase investments in R&D and enhance commercial capabilities to support the CCC strategy [17][21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's potential and the progress made in addressing previous challenges [6][8] - The company raised its guidance for 2025 based on positive Q2 results and ongoing improvements in execution [13][45] - Management emphasized the importance of strategic partnerships and operational excellence to drive future growth [17][22] Other Important Information - The company secured a $200 million term loan from OrbiMed, providing liquidity and flexibility for growth initiatives [13][43] - A significant non-cash impairment charge of $317 million was recognized due to a decline in market capitalization, but this does not reflect a change in business outlook [39][40] Q&A Session Summary Question: Request for more specific KPIs related to the strategic review - Management acknowledged the need for more quantifiable KPIs and plans to share these in the upcoming months [52][56] Question: Clarification on portfolio divestitures - Management indicated satisfaction with the current portfolio and stated that periodic reviews will be conducted to assess strategic alignment [53][56] Question: Impact of UnitedHealthcare's coverage on GeneSight - Management confirmed ongoing discussions with UnitedHealthcare and plans to submit new clinical data for review in the fall [60][64] Question: Clarification on the timing of the MRD test launch - Management confirmed an early access launch for the MRD test in the first half of 2026, with ongoing clinical studies [66][68] Question: Guidance for the back half of the year - Management indicated that the guidance raise is based on improved execution and recovery from previous challenges, particularly in hereditary cancer testing [88][90]

Second Quarter 2025 Earnings Call August 5, 2025 These statements are based on management's current expectations and the actual events or results may differ materially and adversely from these expectations. We refer you to the documents the Company files from time to time with the Securities and Exchange Commission, specifically, the Company's annual report on Form 10-K, its quarterly reports on Form 10-Q, and its current reports on Form 8-K. These documents identify important risk factors that could cause ...

Exhibit 99.1 Myriad Genetics Reports Second Quarter 2025 Financial Results; Raises 2025 Revenue Guidance Following Positive Business Momentum Highlights SALT LAKE CITY, August 5, 2025 – Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in molecular diagnostic testing and precision medicine, today announced financial results for its second quarter ended June 30, 2025 and updated its financial guidance on business performance for the full-year 2025. Attributable to UNH discontinuation of coverage (commercial and ...