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Should You Hold Myriad Genetics Stock in Your Portfolio Right Now?
ZACKS· 2025-06-16 13:26
Core Viewpoint - Myriad Genetics, Inc. is focusing on expanding its companion diagnostics and oncology business while facing challenges from the end of UnitedHealthcare's GeneSight coverage and macroeconomic pressures [1][8]. Company Performance - Myriad Genetics' shares have decreased by 79% over the past year, contrasting with a 12.6% decline in the industry and a 9.2% gain in the S&P 500 [2]. - The company has a market capitalization of $463.7 million and an earnings yield of 0.2%, outperforming the industry's -29.4% yield [2]. - Myriad Genetics has consistently surpassed earnings estimates over the last four quarters, achieving an average surprise of 210% [2]. Growth Opportunities - There is significant potential in oncology testing, particularly through partnerships and new offerings such as the integrated program with Gabbi and the addition of AI technology from PATHOMIQ [3][4]. - Myriad Genetics has seen an 11% year-over-year growth in MyRisk testing volume and plans to launch new products like the Prequel and Precise MRD tests [5]. - The women's health segment, especially MyRisk cancer screening, targets approximately 50 million women in the U.S. who meet hereditary cancer testing guidelines, with prenatal testing revenues increasing by 11% year over year [6]. Strategic Initiatives - The company is investing in electronic medical records (EMR) solutions to enhance customer and patient experiences, which is expected to drive future volume growth [9]. - Myriad Genetics has been granted two new patents for its MRD test, building on previous patents, and plans to launch the Precise MRD test in the first half of 2026 [4]. Financial Health - As of the first quarter of 2025, Myriad Genetics had cash and cash equivalents of $92 million and no short-term debt, indicating strong solvency [10]. Challenges - The end of UnitedHealthcare's coverage for the GeneSight test has resulted in a 20% year-over-year revenue decline for this product [12]. - The company faces macroeconomic pressures, including rising labor costs and tariffs, which could impact profitability [11].
Myriad Genetics Highlights New Research Advancements and Oncology Innovations at 2025 ASCO Annual Meeting
Globenewswire· 2025-05-27 20:05
Core Insights - Myriad Genetics will present data from seven new research studies at the 2025 ASCO Annual Meeting, focusing on Molecular Residual Disease (MRD) clinical outcomes from the MONSTAR-SCREEN-3 study [1][3] - The company emphasizes its commitment to advancing precision oncology through its comprehensive portfolio of genetic and tumor genomic testing solutions [1][3][7] MRD Studies - An oral abstract titled "Ultra-sensitive pan-cancer molecular residual disease assessment using whole-genome sequencing-based personalized ctDNA panel" will be presented, showcasing successful ctDNA detection across over 100 patients with a baseline detection rate of 100% [2] - The interim results indicate the ability to detect tumor fractions as low as 0.0001% and provide a lead time in detecting recurrence compared to imaging [2] Myriad Oncology Portfolio - Myriad Oncology will unveil a new brand identity at the ASCO meeting, highlighting its streamlined approach to germline testing, tumor profiling, and companion diagnostic testing [4] - Upcoming product innovations include the integration of Myriad's oncology portfolio with Flatiron's OncoEMR and Epic cloud-based platforms, enhancing workflow for clinicians [6] Product Innovations - The Precise MRD test, based on whole genome sequencing, is designed to monitor tumor-specific variants and is expected to launch commercially in 2026 [11] - The Prolaris Prostate Cancer Prognostic Test, utilizing AI technology, is anticipated to launch in early 2026, providing clinicians with data-driven insights for treatment decisions [11] - An expanded MyRisk Gene Panel is set to launch later this year, incorporating more clinically actionable genes based on national guidelines [11]