Myriad Genetics is a molecular diagnostics company that focuses on developing and delivering innovative genetic testing and personalized medicine solutions
The company aims to empower healthcare providers and patients with valuable insights into genetic predispositions for various health conditions. Its comprehensive portfolio includes tests for hereditary cancer risk, pharmacogenomics, and other complex diseases, enabling informed medical decision-making and tailored treatment plans. By leveraging advanced technologies in genetics and genomics, Myriad Genetics strives to enhance patient care and improve clinical outcomes.
As the Q4 earnings season wraps, let’s dig into this quarter’s best and worst performers in the therapeutics industry, including Sarepta Therapeutics (NASDAQSRPT) and its peers.
Shares of genetic testing company Myriad Genetics (NASDAQMYGN)
fell 16.1% in the morning session after the company reported a tough quarter(Q4 2024), with revenue missing expectations and 2025 guidance for both revenue and EBITDA coming in light. While revenue did grow 7% compared to the previous year, thanks to strong gains in Pharmacogenomics (+14%y/y) and Prenatal testing (+12%y/y), it wasn't enough to make up for weakness in other areas, leading to the overall shortfall.
UnitedHealthcare will stop covering Myriad Genetics' GeneSight test in 2025, impacting $45 million in revenue. Myriad reaffirms guidance and names a new CEO.
Genetic testing company Myriad Genetics (NASDAQMYGN) fell short of the market’s revenue expectations in Q4 CY2024, but sales rose 7.1% year on year to $210.6 million. The company’s full-year revenue guidance of $850 million at the midpoint came in 1.5% below analysts’ estimates. Its non-GAAP profit of $0.03 per share was in line with analysts’ consensus estimates.
Myriad Genetics’s stock price has taken a beating over the past six months, shedding 47.8% of its value and falling to $14.75 per share. This might have investors contemplating their next move.
