MMyriad Genetics develops molecular diagnostic solutions by offering genetic tests that identify inherited and disease-associated variants for cancer, autoimmune diseases, and other conditions. Its offerings help patients and healthcare professionals with risk assessment, early detection, and personalized treatment planning based on an individual’s genetic profile. The tests are performed on patient samples (such as blood or tissue) and generate reports with clinically actionable results that guide decisions about prevention, surveillance, and therapy. The company differentiates itself through its focus on accuracy, secure handling of personal genetic information, and clear, actionable results derived from established genetic panels and tests. Myriad’s goal is to improve and save lives by making precise genetic insights accessible to patients and clinicians, enabling better patient care and outcomes.
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Company Size
1,001-5,000
Company Stage
IPO
Headquarters
Salt Lake City, UT
Founded
1991
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Myriad Genetics reported third-quarter revenue of $202.7 million, down 1.5% year on year but 6.1% above analyst estimates of $191 million. Adjusted loss per share was $0.11, against expected losses of $0.20. The company is selling its prenatal health business and is working to ease reimbursement pressure in hereditary cancer testing. Volume grew in cancer care and mental health tests, offset by weaker prenatal sales. Myriad raised its full-year revenue guidance midpoint to $785 million from $780 million. Chief financial officer Ben Wheeler said sale proceeds could go to debt repayment and growth investments. Adjusted EBITDA was a loss of $4.41 million. Shares trade at $6.41, up from $6.02 before the results.
Myriad Genetics agreed to sell its prenatal business to Labcorp for $210 million in cash plus inventory, as it aims to focus on cancer testing. It expects the sale to lift gross margin by more than 5 percentage points. Third-quarter revenue was $202.7 million, down 1% year over year. Growth in cancer and mental health testing was offset by lower prenatal sales. The company posted an adjusted EBITDA loss of $5.3 million. Myriad raised the midpoint of its 2026 revenue guidance to $785 million from $780 million, with a range of $780 million to $790 million. Reimbursement denials continue to pressure hereditary cancer test revenue per test, though it improved 9% from the second quarter.
Myriad Genetics beat Wall Street's third-quarter 2026 revenue forecasts, and its shares rose 10.7% to $6.66 after the report. Revenue fell 1.5% year on year to $202.7 million, against analysts' consensus of $191 million. The genetic testing company posted an adjusted loss of $0.11 per share, better than the expected loss of $0.20. Adjusted EBITDA was negative $5.3 million, and free cash flow was negative $8.6 million. Myriad raised its full-year revenue guidance to $785 million at the midpoint, from $780 million. It is selling its Prenatal Health business, with the deal expected to close by early 2027, to focus on cancer care. "The sale of our Prenatal Health business is a decisive step," said chief executive officer Sam Raha.
Myriad Genetics and Labcorp announce definitive agreement for Myriad to sell Prenatal Health testing business to Labcorp. 20 Oct 2026 Transaction to benefit patients through expanded access and support Myriad's strategic priorities SALT LAKE CITY and BURLINGTON, N.C., October 20, 2026 - Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in molecular diagnostic testing and precision medicine, and Labcorp (NYSE: LH), a global leader in innovative and comprehensive laboratory services, today announce they have entered into a definitive agreement for Myriad to sell its Prenatal Health testing business, which includes the Prequel(R), Foresight(R), SneakPeek(R), and FirstGene(R) tests, to Labcorp for $210 million in cash, plus the value of the inventory of the Prenatal Health testing business at closing. "This announcement is the direct outcome of our disciplined strategic review process, which is focused on sharpening our portfolio, enhancing operational execution and driving shareholder value," said Sam Raha, President and CEO, Myriad Genetics. "This transaction is expected to be accretive to Myriad's revenue growth and profitability, while meaningfully strengthening the balance sheet to support continued investment in our strategic priorities tied to the cancer care continuum and long-term value creation. Working closely with Labcorp, one of the nation's largest laboratory service providers, we expect a smooth transition that preserves uninterrupted patient access to our prenatal tests." When complete, the transaction is expected to provide more patients and physicians with expanded access to Labcorp's comprehensive, high-quality laboratory services, convenient patient service center network, robust data analytics and digital tools. "This transaction supports Labcorp's specialty testing growth strategy," said Bryan Vaughn, Executive Vice President and President of Diagnostics, Labcorp. "Myriad Genetics has built a highly complementary reproductive genetics platform, supported by innovative screening solutions and deep scientific expertise. By combining these capabilities with Labcorp's operational strength and high-quality women's health portfolio, we aim to improve outcomes, expand access to advanced screening solutions and enhance the patient and provider experience." Labcorp expects the transaction to add approximately $160 million in revenue in year one, to be slightly accretive to adjusted earnings in year one, and to reach average diagnostics segment margins by end of year two, once fully integrated. Over the last twelve months, Myriad's Prenatal Health testing portfolio has been used by thousands of providers and over 600,000 patients. Myriad plans to provide further commentary regarding this transaction, and other related organizational changes, on its third quarter earnings call on November 4, 2026. The deal is subject to regulatory clearance and customary closing conditions, and the transaction is expected to close by early 2027. Guggenheim Securities, LLC is acting as exclusive financial advisor, and Covington & Burlington LLP is acting as legal advisor to Myriad Genetics. Barclays is acting as financial advisor, and Polsinelli is acting as legal advisor to Labcorp. About Myriad Genetics Myriad Genetics is a leading molecular diagnostic and precision medicine company committed to advancing health and well-being for all. Myriad Genetics develops and commercializes molecular tests that help patients and providers uncover genetic insights. Its tests assess the risk of developing disease or disease progression and guide treatment decisions across medical specialties where molecular insights can significantly improve patient care, support earlier detection, enable more precise treatment and contribute to lowering healthcare costs. For more information, visit myriad.com. About Labcorp Labcorp (NYSE: LH) is a global leader of innovative and comprehensive laboratory services that helps doctors, hospitals, pharmaceutical companies, researchers and patients make clear and confident decisions. Labcorp provide insights and advance science to improve health and improve lives through its unparalleled diagnostics and drug development laboratory capabilities. The company's nearly 71,000 employees serve clients in approximately 100 countries, provided support for more than 85% of the new drugs and therapeutic products approved by the FDA in 2025 and performed more than 750 million tests for patients around the world. Learn more at www.labcorp.com. Myriad Genetics Safe Harbor Statement This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the sale of Myriad's Prenatal Health testing business; the expected benefits of the transaction, including that it will be accretive to Myriad's revenue growth and profitability, strengthen its balance sheet, and support investment in its strategic priorities; and the expectation that the transaction will close by early 2027. These "forward-looking statements" are management's expectations of future events as of the date hereof and are subject to known and unknown risks and uncertainties that could cause actual results, conditions, and events to differ materially and adversely from those anticipated. Such factors include those risks described in the Myriad's filings with the U.S. Securities and Exchange Commission, including Myriad's Annual Report on Form 10-K filed on February 24, 2026, as well as any updates to those risk factors filed from time to time in Myriad's Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. Myriad is not under any obligation, and it expressly disclaims any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise except as required by law. Labcorp Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements, including, but not limited to, statements with respect to the anticipated benefits of the transaction for providers and patients, its advancement of Labcorp's strategic priorities, and the expected financial impact of the transaction, including expected post-closing revenues and margins, and the timing of achieving such financial results. Each of the forward-looking statements is subject to change based on various important factors, many of which are beyond Labcorp's control. These factors, in some cases, have affected and in the future (together with other factors) could affect Labcorp's ability to implement its business strategy, and actual results could differ materially from those suggested by these forward-looking statements. As a result, readers are cautioned not to place undue reliance on any of the forward-looking statements. Labcorp has no obligation to provide any updates to these forward-looking statements even if its expectations change. All forward-looking statements are expressly qualified in their entirety by this cautionary statement. Further information on potential factors, risks and uncertainties that could affect operating and financial results is included in Labcorp's most recent Annual Report on Form 10-K under the heading RISK FACTORS and in subsequent quarterly reports on Form 10-Q and its other filings with the SEC. The information in this press release should be read in conjunction with a review of Labcorp's filings with the SEC including the information in its most recent Annual Report on Form 10-K under the heading "MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS". Myriad Contacts: Investors: Matt Scalo (801) 584-3532 [email protected] Media: Andria Rosell (385) 202-3510 [email protected] Labcorp Contacts:
SOPHiA GENETICS and Myriad Genetics announce new collaboration to advance prostate genomic instability score technology. 08 Oct, 2026, 18:30 IST BOSTON, Oct. 8, 2026 /PRNewswire/ - SOPHiA GENETICS (NASDAQ: SOPH) and Myriad Genetics, Inc., (NASDAQ: MYGN) today announce a collaboration to advance new prostate cancer-specific genomic instability score (PrGIS) technology to support precision oncology approaches with AstraZeneca (LSE/STO/NYSE: AZN). PrGIS is a novel biomarker signature designed to assess chromosomal instability associated with homologous recombination deficiency (HRD) in prostate cancer patients. The collaboration aims to advance PrGIS in clinical trials and expand access to precision oncology medicines through potential companion diagnostic solutions. Myriad developed PrGIS to support HRD as an actionable biomarker in prostate cancer, where HRD is emerging as an important prognostic and predictive biomarker. The proprietary MyChoice(R) CDx test which is currently available as a companion diagnostic in ovarian cancer, will produce the PrGIS score and is being advanced for prostate cancer as a new indication. "This collaboration showcases Myriad's biopharma capabilities to support development of precision oncology treatments," said Lou Welebob, Senior Vice President, Companion Diagnostics, Myriad Genetics. "PrGIS is designed to provide biopharma partners with a platform that may support patient stratification in clinical trials and help accelerate companion diagnostic development for precision oncology therapies." As part of the collaboration, SOPHiA GENETICS is developing its solid tumor application for Extended Homologous Recombination Solution into a decentralized companion diagnostic solution. The solution will incorporate Myriad's PrGIS technology and aim to expand patient access to PrGIS in global markets. SOPHiA GENETICS' technology-agnostic, cloud-based platform offers local laboratory testing across a global network of more than 1,000 connected institutions in over 75 countries. "Precision medicine has a geographic problem because breakthrough therapies developed in major markets often remain inaccessible to patients in the rest of the world," said Jess Lambe, VP & Managing Director of BioPharma Business Development, SOPHiA GENETICS. "By pairing Myriad's world-class biomarker innovation with SOPHiA GENETICS' global network, we are working toward a solution for this. Together, we're building a new model for companion diagnostic deployment that could help innovative therapies reach the right patients locally, expanding access to care where it matters the most." Upcoming ESMO data to highlight PrGIS as a novel biomarker in prostate cancer Myriad also plans to present PrGIS research, co-authored with AstraZeneca, at the upcoming European Society for Medical Oncology (ESMO) Congress 2026. The research is expected to further characterize the biomarker and support its validation. Full data will be available following the ESMO embargo period. About SOPHiA GENETICS SOPHiA GENETICS (Nasdaq: SOPH) is an AI-native healthcare technology company on a mission to transform patient care by expanding access to data-driven medicine globally. It is the creator of SOPHiA DDM(TM), an AI platform that analyzes complex genomic and multimodal data to generate real-time, real-world insights for a broad global network of hospital, laboratory, and biopharma institutions. For more information, visit SOPHiAGENETICS.COM and connect with us on LinkedIn. About Myriad Genetics Myriad Genetics is a leading molecular diagnostic and precision medicine company committed to advancing health and well-being for all. Myriad Genetics develops and commercializes molecular tests that help patients and providers uncover genetic insights. Our tests assess the risk of developing disease or disease progression and guide treatment decisions across medical specialties where molecular insights can significantly improve patient care, support earlier detection, enable more precise treatment and contribute to lowering healthcare costs. For more information, visit www.myriad.com. SOPHiA GENETICS Safe Harbor Statement This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding the Company's plans to deploy PrGIS technology, the development of decentralized companion diagnostic solutions, the Company's global commercialization capabilities, and the expected benefits and reach of this collaboration. These "forward-looking statements" are management's expectations of future events as of the date hereof and are subject to known and unknown risks and uncertainties that could cause actual results, conditions, and events to differ materially and adversely from those anticipated. Such risks and uncertainties include those described in the Company's Annual Report on Form 20-F filed on March 3, 2026, as well as any updates to those risk factors filed from time to time in the Company's Reports on Form 6-K or other filings with the U.S. Securities and Exchange Commission. SOPHiA GENETICS is not under any obligation, and expressly disclaims any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
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Industries
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
Salt Lake City, UT
Founded
1991
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