[Item 2.02 Results of Operations and Financial Condition](index=2&type=section&id=Item%202.02%20Results%20of%20Operations%20and%20Financial%20Condition) Myriad Genetics reported preliminary Q3 2024 revenue of **$210-$212 million**, reaffirming full-year guidance of **$835-$845 million** despite the EndoPredict divestiture Preliminary Q3 2024 Revenue | Metric | Value (USD) | | :--- | :--- | | **Preliminary Q3 2024 Revenue** | $210 million - $212 million | - The preliminary Q3 2024 revenue was achieved despite the divestiture of the company's EndoPredict business in Europe, which closed on August 1, 2024[2](index=2&type=chunk) Reaffirmed Full-Year 2024 Revenue Guidance | Metric | Value (USD) | | :--- | :--- | | **Reaffirmed Full-Year 2024 Revenue Guidance** | $835 million - $845 million | - The financial guidance and data are based on preliminary, unaudited internal reports and may change upon the finalization of the company's Q3 2024 financial statements[3](index=3&type=chunk) [Forward-Looking Statements](index=2&type=section&id=Forward-Looking%20Statements) This section outlines risks and uncertainties that could cause actual results to differ from forward-looking statements, including preliminary financial results and full-year guidance - The report contains forward-looking statements concerning the company's full-year 2024 financial guidance, expected revenue growth, and preliminary third-quarter 2024 financial results[4](index=4&type=chunk) - The company identifies numerous risks that could impact future performance, including but not limited to: - Decline in sales and profit margins of existing tests[4](index=4&type=chunk) - Increased competition and development of new competing tests[4](index=4&type=chunk) - Changes in governmental or private insurers' coverage and reimbursement levels[4](index=4&type=chunk) - Regulatory requirements or enforcement in the U.S. and foreign countries[4](index=4&type=chunk) - Security breaches, loss of data, and other disruptions from cyberattacks[4](index=4&type=chunk) - Myriad Genetics states it is not under any obligation to update or alter any forward-looking statements, except as required by law[5](index=5&type=chunk) [Item 9.01 Financial Statements and Exhibits](index=4&type=section&id=Item%209.01%20Financial%20Statements%20and%20Exhibits) This section lists the exhibits filed with the Form 8-K report, specifically Exhibit 104, the Cover Page Interactive Data File embedded within the Inline XBRL document - Exhibit 104, the Cover Page Interactive Data File (embedded within the Inline XBRL document), is filed with this report[6](index=6&type=chunk)

Core Insights - Myriad Genetics reported a third quarter revenue growth of 11% year-over-year, reaching $213 million, driven by strong performance in Pharmacogenomics (34%) and Prenatal (10%) testing [1][3][4] - The company improved its GAAP net loss to $22.1 million from $61.3 million in the same quarter last year, alongside an increase in adjusted EBITDA to $14.1 million from $1.4 million [1][3][4] - Updated financial guidance for 2024 indicates expected full-year revenue between $837 million and $843 million, with adjusted earnings per share projected to be between $0.12 and $0.14 [1][3][16] Financial Performance - Test volumes increased by 6% year-over-year, totaling 376,000 tests in the third quarter of 2024 [4] - Revenue breakdown for core product categories shows: - Hereditary cancer: $90.5 million (5% increase) - Tumor profiling: $31.6 million (5% increase) - Prenatal: $43.5 million (10% increase) - Pharmacogenomics: $47.7 million (34% increase) [6][8][12] - Gross margin improved to 70.2%, reflecting operational leverage and better average revenue per test [6][12] Business Developments - Myriad Genetics entered a collaboration with Flatiron Health to integrate MyRisk Hereditary Cancer Test into their EMR platform [8] - The company received a third patent for methods related to ultra-sensitive detection of tumor-specific mutations, supporting its commercialization efforts for the MRD assay [9] - A strategic partnership with jscreen aims to enhance access to genetic testing for high-risk populations [11] Challenges and Regulatory Updates - UnitedHealthcare announced it will discontinue coverage for multi-gene panel pharmacogenetic testing, including GeneSight, effective January 1, 2025, which generated approximately $10 million in revenue in the third quarter [1][13] - Myriad Genetics is actively engaging with UnitedHealthcare to provide additional clinical evidence for GeneSight and seeks to ensure continued access for patients [13][14] Cash Flow and Liquidity - The company reported an increase in cash and cash equivalents by $8.6 million, with total liquidity of $148.7 million as of the end of the third quarter [14]

Core Viewpoint - Myriad Genetics, Inc. is under investigation following the announcement that UnitedHealth Group will cease coverage of its GeneSight genetic test, leading to a significant drop in Myriad's stock price [2]. Group 1: Investigation Details - On October 31, 2024, UnitedHealth Group announced it would no longer cover GeneSight, effective January 1, 2025, citing that tests for behavioral health, including GeneSight, are "unproven" and "not medically necessary" [2]. - Following this announcement, Myriad's stock price experienced a sharp decline during intraday trading on November 1, 2024 [2]. Group 2: Legal Representation - Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Myriad securities and encourages affected investors to participate in the investigation [1][3]. - The firm operates on a contingency fee basis, meaning they will only seek reimbursement for expenses and attorneys' fees if successful in court [3]. Group 3: Firm Background - Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm specializing in securities fraud class actions and has recovered hundreds of millions of dollars for investors [4].

SALT LAKE CITY, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc., (NASDAQ: MYGN), a leader in genetic testing and precision medicine, was informed on Friday, November 1, 2024, of an updated medical policy from UnitedHealthcare restricting access to multi-gene panel pharmacogenetic tests, including Myriad’s GeneSight test, under its commercial and individual exchange benefit plans, effective January 1st, 2025. After initial review of the updated policy, the company strongly disagrees with UnitedHealth ...

SALT LAKE CITY, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in genetic testing and precision medicine, will hold its third quarter earnings conference call on Thursday, November 7, 2024 at 4:30 pm ET. The company's quarterly earnings will be released the same day after the market closes. During the call, Myriad management will provide a financial overview and business update of the company's performance for the third quarter 2024. A live webcast of the earnings conferenc ...

Myriad Genetics, Inc. (MYGN) has announced a strategic partnership with jscreen, a national organization focused on genetic education and preventative testing for high-risk populations.This collaboration merges Myriad’s advanced hereditary cancer and reproductive genetic products, MyRisk with RiskScore and Foresight Carrier Screen, with jscreen’s well-established education and care navigation platform. Through this alliance, the organizations aim to reach hundreds of thousands of individuals across the Unit ...

Myriad Genetics, Inc. (MYGN) recently announced a joint effort with Ultima Genomics, Inc. to explore its UG 100 sequencing platform and ppmSeq technology. The collaboration will help advance the company’s ability to offer groundbreaking clinical tests in oncology and reproductive genomics.Myriad Genetics has purchased a new UG 100 platform that will soon join other leading sequencing platforms in its new Lab of the Future facility in South San Francisco. The low-cost, low-error sequencing achievable on the ...

SALT LAKE CITY, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc., (NASDAQ: MYGN), a leader in genetic testing and precision medicine, today announced a series of ongoing research collaborations to study the use of molecular residual disease (MRD) testing in breast cancer using Myriad’s Precise® MRD test. Research collaborations include: A study to determine whether circulating tumor DNA (ctDNA) level may predict magnitude of response to pembrolizumab and hormonal therapy in patients with HR-positive ...

Core Insights - Myriad Genetics and Ultima Genomics have announced a collaboration to utilize Ultima's UG 100™ sequencing platform and ppmSeq™ technology to enhance Myriad's clinical testing capabilities [1][2][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 [4] - Ultima Genomics aims to revolutionize genomic sequencing by providing low-cost, high-throughput sequencing solutions that can scale beyond conventional technologies [5] Technological Advancements - The UG 100 platform is expected to provide low-cost and low-error sequencing, which will benefit Myriad's emerging products, particularly the Precise Molecular Residual Disease (MRD) test and the FirstGene Multiple Prenatal Screen [2][3] - Myriad's Precise MRD test will utilize whole-genome sequencing to identify tumor-specific variants, enhancing personalized tracking for cancer patients [2] - The FirstGene Multiple Prenatal Screen will streamline multiple prenatal tests into a single sequencing workflow, requiring deep and accurate sequencing capabilities [2] Strategic Goals - Myriad's collaboration with Ultima is aimed at making cutting-edge genetic testing more accessible and affordable, with the UG 100 potentially lowering costs and improving quality for their tests [3] - The partnership is expected to facilitate the exploration of new product areas that may have been previously challenging due to high sequencing costs [3]

SALT LAKE CITY, Oct. 01, 2024 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc., (NASDAQ: MYGN), a leader in genetic testing and precision medicine, today announced that the United States Patent and Trademark Office has issued a third patent that will strengthen its ability to deliver a tumor-informed, high-definition, molecular residual disease (MRD) assay to market.  U.S. patent no. 12,104,212, entitled “Personalized Methods for Detecting Circulating Tumor DNA,” demonstrates Myriad’s continued efforts to advance ...