Myriad Genetics, Inc.
7.91-0.22 (-2.71%)
Oct 29, 4:00:01 PM EDT · NasdaqGS · MYGN · USD
Key Stats
Market Cap
735.98MP/E (TTM)
-Basic EPS (TTM)
-4.31Dividend Yield
0%Recent Filings
8-K
CFO assumes accounting role
Myriad Genetics announced on September 29, 2025, that Natalie Munk, its Senior Vice President and Chief Accounting Officer, will resign effective October 24, 2025, with no disagreements on company matters. The board promptly designated CFO Ben R. Wheeler as interim principal accounting officer starting that date. Wheeler, a 13-year company veteran and CPA, steps up without extra pay. Smooth transition bolsters financial oversight continuity.
8-K
Myriad appoints new CFO Wheeler
Myriad Genetics announced the departure of CFO Scott Leffler, effective August 15, 2025, with him staying on as a non-executive employee through September 2 to aid the transition. Ben Wheeler, a 13-year veteran promoted from SVP of CFO Operations, steps in as the new CFO starting August 16, bringing deep internal expertise to steer financial strategy. The company reaffirms its full-year 2025 guidance amid this smooth leadership shift. Wheeler's proven track record bolsters execution.
10-Q
Q2 FY2025 results
Myriad Genetics posted Q2 revenue of $213.1M, up 0.8% y/y but flat q/q, with Hereditary Cancer driving a 5.3% y/y gain to $96.3M while Pharmacogenomics fell 12.1% y/y to $37.8M amid UnitedHealthcare coverage cuts. Gross margin expanded to 71.2% from 69.6% y/y, thanks to lower lab costs, yet a $316.7M goodwill and asset impairment charge—tied to market cap drops and forecast revisions—swung operating loss to $329.2M from $36.5M y/y; net loss widened to $330.5M or $3.57 per diluted share (92.5M shares). Cash dipped to $74.4M after $29.9M operating outflow, with $59.4M ABL debt at 6.7% and $42.1M availability; post-quarter, they refinanced with a $125M OrbiMed term loan maturing 2030. Impairments hit hard. Reimbursement risks linger.
8-K
Q2 revenue up, guidance raised
Myriad Genetics reported Q2 2025 revenue of $213.1 million, up 1% year-over-year, with oncology hereditary cancer testing surging 9% amid strong MyRisk adoption. A $316.7 million non-cash impairment hit pharmacogenomics and women's health units, driving GAAP net loss to $330.5 million, yet adjusted EPS held at $0.05. The company raised full-year revenue guidance to $818-$828 million and secured a $200 million credit facility for growth. Strategy sharpens on cancer care expansion, but payer cuts sting pharmacogenomics.
8-K
Myriad secures $200M OrbiMed loan
Myriad Genetics secured a $200 million senior secured term loan from OrbiMed on July 31, 2025, with $125 million funded immediately and up to $75 million available until June 30, 2027. The five-year facility, maturing July 31, 2030, carries interest at one-month SOFR plus 6.50% (SOFR floored at 2.50%) and refinances prior debt while funding working capital. Yet, quarterly revenue covenants start at $615 million from December 2025, ramping to $974 million by 2029. Lenders hold first-priority liens on assets.
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