Core Insights - Myriad Genetics, Inc. has appointed Brian Donnelly as chief commercial officer, effective May 1, 2025, to enhance its leadership team and drive growth [1][2][3] Company Overview - Myriad Genetics is a leader in molecular diagnostics testing and precision medicine, focusing on advancing health and well-being through innovative molecular tests that assess disease risk and guide treatment decisions [4] Leadership Appointment - Brian Donnelly brings over 20 years of experience in healthcare, diagnostics, and medical technology, with a strong track record in managing multi-billion-dollar P&Ls and driving growth through innovative strategies [2][3] - Donnelly has held senior roles at notable organizations such as Ancestry, Amazon, and Illumina, where he successfully drove business growth across global markets [3] Strategic Vision - The incoming president and CEO of Myriad Genetics, Sam Raha, emphasized Donnelly's strategic vision and operational excellence, highlighting his role in scaling the business and accelerating product adoption [3] - Donnelly expressed enthusiasm for joining Myriad Genetics, focusing on expanding the company's impact and fostering innovation while adhering to its mission [3]

Myriad Genetics, Inc.’s (MYGN) Oncology growth strategy, which focuses on expanding companion diagnostics and market growth through new clinical guidelines, is poised to drive growth in the upcoming quarters. The company’s innovative product launches and upgrades look encouraging. Yet, unfavorable currency fluctuations and competitive disadvantages may hurt Myriad Genetics’ operations.In the past year, this Zacks Rank #3 (Hold) company’s shares have lost 56.8% compared with the industry’s 11.9% decline. The ...

Medical equipment stock Myriad Genetics Inc (NASDAQ:MYGN) was last seen up 9.8% at $11.25, after an upgrade from Piper Sandler to "overweight" from "neutral," with a price-target hike to $12.50 from $11.50. The firm noted an attractive entry point following the stock's extended pullback, and cited the CEO change, as Sam Raha will replace Paul Diaz on April 30. Today's surge builds on MYGN’s 6.8% gain in the previous session, following its March 10 five-year low of $9.24. The stock broke below support at $12 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________________ FORM 10-K _______________________________________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission file numbe ...

Core Insights - Myriad Genetics, Inc. has announced a collaboration with Gabbi to provide an integrated offering for breast cancer risk assessment and specialist care services [1][2] - The partnership aims to enhance patient access to genetic testing and personalized care plans through Gabbi's telehealth solution and Myriad's MyRisk with RiskScore Hereditary Cancer Test [2][4] Company Overview - Myriad Genetics is a leader in molecular diagnostics testing and precision medicine, focusing on advancing health and well-being through molecular tests that assess disease risk and guide treatment decisions [5] - Gabbi is a telehealth solution designed to empower women in understanding and managing their breast cancer risks, providing immediate access to clinicians and personalized action plans [4][5] Product and Service Details - The MyRisk with RiskScore Hereditary Cancer Test enables 53% of patients to qualify for a medical management change, such as more frequent mammograms or MRI imaging [3] - Gabbi's solution includes logistics and educational support, ensuring a seamless experience for patients identified as high risk [2][4]

Core Viewpoint - Myriad Genetics faces a significant challenge as UnitedHealthcare will cease coverage for its GeneSight pharmacogenetic testing, impacting future revenue streams starting in the first half of 2025 [1][3]. Financial Performance - In 2024, Myriad Genetics generated approximately $45 million from GeneSight testing through UnitedHealthcare, with $40 million from commercial plans and $5 million from managed Medicaid plans [2]. - The company reported fourth-quarter adjusted EPS of 3 cents, down from 4 cents year-over-year, aligning with consensus expectations [6]. - Fourth-quarter sales reached $210.6 million, reflecting a 7% year-over-year increase but falling short of the consensus estimate of $211.62 million [6]. Guidance and Expectations - Myriad Genetics reaffirmed its adjusted EPS guidance for 2025 at 7-11 cents, compared to a consensus of 6 cents [3]. - The company anticipates sales between $840 million and $860 million, slightly below the consensus of $866.2 million [4]. Leadership Changes - Myriad Genetics appointed Sam Raha as the new President and CEO, effective April 30, replacing Paul J. Diaz, who is transitioning to a private equity firm [4]. Market Reaction - Following the news, Myriad Genetics' stock declined by 14.2%, trading at $11.83 [6]. - Analysts have mixed reactions, with JPMorgan maintaining an Underweight rating due to uncertainties in long-term growth strategy, while UBS holds a Neutral rating and lowers the price target from $18 to $16 [7]. Business Segment Performance - The Oncology business generated revenue of $82.8 million in the fourth quarter, with hereditary cancer testing revenue growing by 8% year-over-year [6]. - The Women's Health segment reported revenue of $87.2 million, with prenatal testing revenue increasing by 12% year-over-year [6].

Core Insights - Myriad Genetics, Inc. reported fourth-quarter 2024 adjusted earnings of 3 cents per share, matching the Zacks Consensus Estimate, while the GAAP loss was 47 cents compared to a loss of 36 cents in the prior-year quarter [1][2] Financial Performance - Total revenues increased by 7.1% year over year to $210.6 million, slightly exceeding the Zacks Consensus Estimate by 0.2% [3] - For the full year 2024, revenues reached $837.6 million, reflecting an 11% rise from the previous year, also surpassing the Zacks Consensus Estimate by 0.1% [3] Revenue Breakdown by Segments - Hereditary Cancer testing revenues rose 6% year over year to $94.3 million [4] - Pharmacogenomics testing revenues increased by 14% year over year to $40.6 million [4] - Tumor Profiling testing revenues decreased by 4% year over year to $30.8 million [4] - Prenatal testing revenues grew by 12% year over year to $44.9 million [4] Margin and Expense Analysis - Gross margin expanded by 299 basis points to 71.7% [5] - Research and development expenses rose by 41.4% year over year to $29.7 million [5] - Selling, general and administrative (SG&A) expenses increased by 7.3% to $72 million in the reported quarter [5] - The adjusted operating loss was $17.3 million, an improvement from a loss of $31.4 million in the year-ago quarter [5] Financial Position - Myriad Genetics ended the fourth quarter of 2024 with cash and cash equivalents of $102.4 million, down from $132.1 million at the end of 2023 [6] - Long-term debt increased to $39.6 million from $38.5 million at the end of 2023 [6] - Cumulative net cash inflow from operating activities was $6.6 million, a significant improvement from an outflow of $54.7 million in the year-ago period [6] Future Guidance - For 2025, Myriad Genetics forecasts revenues between $840 million and $860 million, indicating a growth of 9%-11% over the prior year [7] - Adjusted earnings per share (EPS) are expected to be in the range of 7-11 cents, with the Zacks Consensus Estimate at 9 cents [8] - For the first quarter, revenues are anticipated to be between $196 million and $204 million, compared to the Zacks Consensus Estimate of $212.7 million [8] Strategic Developments - The company announced a strategic partnership with jscreen to enhance its hereditary cancer and reproductive genetics products [10] - A collaboration with PATHOMIQ was established to integrate AI technology into its Oncology portfolio, including an exclusive license for prostate cancer [11] Overall Assessment - Myriad Genetics demonstrated stable earnings and revenue growth, driven by demand for Pharmacogenomics and Prenatal testing, marking its second consecutive year of double-digit expansion [9]

Myriad Genetics, Inc. (NASDAQ:MYGN) Q4 2024 Results Conference Call February 24, 2025 4:30 PM ET Company Participants Matt Scalo - Senior Vice President of Investor Relations Paul Diaz - President and Chief Executive Officer Sam Raha - Chief Operating Officer Mark Verratti - Chief Commercial Officer Scott Leffler - Chief Financial Officer Conference Call Participants Madeline Mollman - Wolfe Research Will Ortmayer - Goldman Sachs Madison Pasterchick - Morgan Stanley Tycho Peterson - Jefferies Sung Ji Nam - ...

Group 1 - Myriad Genetics reported quarterly earnings of $0.03 per share, matching the Zacks Consensus Estimate, compared to $0.04 per share a year ago [1] - The company posted revenues of $210.6 million for the quarter ended December 2024, exceeding the Zacks Consensus Estimate by 0.22%, and up from $196.6 million year-over-year [2] - Myriad has surpassed consensus revenue estimates four times over the last four quarters [2] Group 2 - The stock's immediate price movement will depend on management's commentary during the earnings call [3] - Myriad shares have increased approximately 3.4% since the beginning of the year, outperforming the S&P 500's gain of 2.2% [3] Group 3 - The earnings outlook for Myriad is uncertain, with current consensus EPS estimates at breakeven on $212.75 million in revenues for the coming quarter and $0.09 on $859.09 million in revenues for the current fiscal year [7] - The estimate revisions trend for Myriad is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Group 4 - The Medical - Biomedical and Genetics industry is currently in the top 26% of Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions [5]

Revenue Projections - Fourth quarter 2024 total revenues are expected to be between $209 million and $211 million, representing an increase of approximately 6% to 7% compared to Q4 2023[4]. - Full year 2024 total revenues are projected to be between $836 million and $838 million, reflecting an increase of approximately 11% compared to full year 2023[4]. - For full year 2025, revenue guidance is set at $840 million to $860 million, indicating an increase of approximately 0% to 3% compared to preliminary 2024 revenue[9]. Earnings Per Share - Fourth quarter 2024 GAAP diluted loss per share is expected to be between $(0.72) and $(0.62), while adjusted diluted EPS is projected to be between $0.03 and $0.04[4]. - Full year 2024 GAAP loss per share is anticipated to be between $(1.66) and $(1.56), with adjusted EPS expected to be between $0.14 and $0.15[4]. - Full year 2025 adjusted EPS is anticipated to be between $0.07 and $0.11, based on a share count of 94 million[10]. Cash and Assets - As of December 31, 2024, cash and cash equivalents were approximately $102 million, an increase of $2 million from the end of Q3 2024[4]. Adjusted EBITDA and Net Loss - Adjusted EBITDA for the three months ended December 31, 2024, is projected to be between $10.0 million and $10.9 million, while for the twelve months, it is expected to be between $39.9 million and $40.8 million[23]. - The net loss for the three months ended December 31, 2024, is estimated to be between $65.7 million and $56.8 million, and for the twelve months, it is projected to be between $150.5 million and $141.6 million[23]. Impairment and Expenses - Goodwill and long-lived asset impairment charges for the three months ended December 31, 2024, are expected to be between $45.0 million and $41.0 million, and for the twelve months, between $58.8 million and $54.8 million[23]. - Equity compensation expenses for the twelve months ended December 31, 2024, are projected to be $49.8 million[23]. - Real estate optimization costs for the three months ended December 31, 2024, are estimated at $1.7 million, and for the twelve months, at $7.2 million[23]. - Transformation initiatives costs for the twelve months ended December 31, 2024, are expected to be $6.6 million[23]. Tax Adjustments - Tax adjustments include a tax expense (benefit) due to non-GAAP adjustments and differences in stock compensation deductions[26]. Future Financial Reporting - The company plans to release actual financial results for Q4 and full year 2024 during its earnings call in February 2025[5]. Significant Financial Factors - The impairment of acquired technology intangible assets related to the GeneSight Test is a significant factor in the financial adjustments for the year[25]. - The company is undergoing real estate initiatives, including the build-out of new laboratories in Salt Lake City and South Francisco[25].