Q2 2025 Financial Performance - Q2 2025 revenue reached $213.1 million, driven by strong average revenue per test trends[6] - Adjusted gross margins in Q2 2025 were 71.5%, a year-over-year increase of 140 basis points[6] - Adjusted operating expenses in Q2 2025 grew by 2% year-over-year, reflecting a focus on managing discretionary spending[6] - Adjusted EBITDA for Q2 2025 was $14.5 million, representing a 24% year-over-year growth[6] - Adjusted EPS for Q2 2025 was $0.05[6] Revenue Growth and Guidance - The company is raising its 2025 revenue guidance range, with underlying total revenue growth of 5% year-over-year[9] - Oncology hereditary cancer test revenue grew by 9% year-over-year, driven by a 10% volume growth year-over-year[9] - Total potential liquidity is estimated at $205.9 million, including $74.4 million in cash and cash equivalents at the end of Q2 2025 and access to a new credit facility[44] Strategic Focus - The company is focusing on high-growth Cancer Care Continuum (CCC) segments to accelerate growth[9, 12, 14] - The company aims to grow revenue at or above market in Prenatal & Mental Health[9, 16] - The company is focused on sustained profitable growth[9, 12, 18]

Core Insights - Myriad Genetics is presenting new clinical data on its Precise MRD test for oligometastatic clear-cell renal cell carcinoma (ccRCC) at the AACR Annual Meeting, highlighting its potential in precision medicine [1][4] Group 1: Clinical Data and Findings - The study indicates that metastasis-directed radiation therapy (MDT) can delay or avoid systemic treatments without compromising overall survival, with survival rates of 94% at two years and 87% at three years [4] - The Precise MRD test identified over 50% of patients as MRD-positive at baseline, which is significant given the low tumor fractions typical in ccRCC that often evade detection by earlier MRD tests [4][3] - Patients who tested negative on Precise MRD maintained MDT for a median of 54 months, compared to 27 months for those who tested positive, suggesting a longer duration before initiating aggressive therapy [4] Group 2: Technology and Methodology - Myriad's Precise MRD test is an ultrasensitive, tumor-informed assay that detects circulating tumor DNA (ctDNA) in plasma, utilizing large panels to enhance sensitivity [3][5] - The test employs a novel ranking algorithm to select up to 1,000 high-confidence targets, optimizing panel design for residual disease detection [4] - Including insertion/deletion (INDEL) mutations in MRD panels improves the likelihood of detecting low abundance ctDNA, enhancing sensitivity at low tumor concentrations [4] Group 3: Future Directions and Applications - Myriad continues to develop the Precise MRD assay for various applications, with ongoing evaluations in high-impact studies [4][5] - The company aims to meet the needs of cancer patients, academic partners, and biopharma companies through its advanced testing solutions [6][7]