Myriad Genetics Inc., is a leading genetic testing and precision medicine company dedicated to transforming patient lives worldwide. Myriad discovers and commercializes genetic tests that: determine the risk of developing disease, accurately diagnose disease, assess the risk of disease progression, and guide treatment decisions across medical specialties where molecular diagnostics can significantly improve patient care and lower healthcare costs.

Company profile
Ticker
MYGN
Exchange
Website
CEO
R. Bryan Riggsbee
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Corporate docs
Subsidiaries
Myriad Genetics GmbH • Myriad Genetics Canada • Myriad Genetics Australia • Myriad International • 2 – Crescendo Bioscience, LLC ...
IRS number
870494517
MYGN stock data
Press releases
Myriad Genetics Issues Inaugural Environmental, Social and Governance Report
28 Jun 22
Myriad Genetics Teams Up with Epic to Make Genetic Testing Accessible to More Patients with Electronic Health Record (EHR) Integration
23 Jun 22
Illumina Launches Research Test Codeveloped with Merck to Unlock Deeper Insights into the Tumor Genome
22 Jun 22
Myriad Genetics CEO Paul Diaz to Speak at Goldman Sachs 43rd Annual Global Healthcare Conference
9 Jun 22
Myriad Genetics Showcases Advancements in Precision Medicine with Recent Oncology Portfolio Expansion and New Data Presentations at ASCO 2022
26 May 22
Analyst ratings and price targets
Current price
Average target
$24.50
Low target
$23.00
High target
$26.00
SVB Leerink
Maintains
$26.00
Goldman Sachs
Maintains
$23.00
Investment data
Securities sold
Number of investors
Calendar
6 May 22
2 Jul 22
31 Dec 22
Financial summary
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Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 165.2M | 165.2M | 165.2M | 165.2M | 165.2M | 165.2M |
Cash burn (monthly) | 31.07M | (no burn) | 8.8M | 14.22M | 15.5M | 8.34M |
Cash used (since last report) | 95.29M | n/a | 26.99M | 43.6M | 47.54M | 25.59M |
Cash remaining | 69.91M | n/a | 138.21M | 121.6M | 117.66M | 139.61M |
Runway (months of cash) | 2.3 | n/a | 15.7 | 8.6 | 7.6 | 16.7 |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
9 Jun 22 | Jayne B. Hart | Common Stock | Grant | Acquire A | No | No | 14.841 | 1,036 | 15.38K | 182,511 |
6 Jun 22 | Spiegelman Daniel K | Common Stock | Sell | Dispose S | No | Yes | 19.2517 | 6,424 | 123.67K | 33,980 |
2 Jun 22 | Heiner Dreismann | Common Stock | Grant | Acquire A | No | No | 0 | 17,275 | 0 | 100,802 |
Institutional ownership, Q1 2022
13F holders | Current |
---|---|
Total holders | 203 |
Opened positions | 31 |
Closed positions | 25 |
Increased positions | 65 |
Reduced positions | 73 |
13F shares | Current |
---|---|
Total value | 2.05B |
Total shares | 82.07M |
Total puts | 31.3K |
Total calls | 287.2K |
Total put/call ratio | 0.1 |
Largest owners | Shares | Value |
---|---|---|
BLK Blackrock | 14.8M | $372.91M |
Vanguard | 8.98M | $226.21M |
Earnest Partners | 6.28M | $158.18M |
Wellington Management | 5.1M | $128.43M |
STT State Street | 4.2M | $105.75M |
Camber Capital Management | 3.5M | $88.2M |
D. E. Shaw & Co | 3.22M | $63.59M |
BAC Bank Of America | 2.76M | $69.53M |
Dimensional Fund Advisors | 2.56M | $64.54M |
Artisan Partners Limited Partnership | 2.33M | $58.65M |
Financial report summary
?Competition
Aspira Women`s Health • Exact Sciences • Genomic Health • Exagen • Vyant Bio • Veracyte • Nanostring • Castle Biosciences • Invitae • NateraRisks
- We may not be able to generate sufficient revenue from our existing tests or develop new tests to be profitable.
- We may not be able to maintain revenue growth or operate our business on a profitable basis, and our transformation plan may not achieve the anticipated results.
- If we do not continue to generate sufficient revenue from sales of our molecular diagnostic tests and are unable to secure additional funding, we may have to reduce our operations.
- An inability to attract and retain experienced and qualified personnel, including key management personnel, could adversely affect our business.
- We are subject to debt covenants that impose operating and financial restrictions on us and if we are not able to comply with them, it could have a material adverse impact on our operations and liquidity.
- If our current operating plan changes and we find that our existing capital resources will not meet our needs, we may find it necessary to raise additional funding, which may not be available.
- We may acquire technologies, assets or other businesses that could cause us to incur significant expense and expose us to a number of unanticipated operational and financial risks, which could adversely affect our financial condition, results of operations and business prospects.
- We are currently subject to, and in the future may be subject to, securities class action lawsuits and stockholder derivative actions, as well as product or professional liability claims. These, and potential similar or related litigation, could result in substantial damages and may divert management’s time and attention from our business.
- Security breaches, loss of data and other disruptions, including from cyberattacks, could compromise sensitive information related to our business, prevent us from accessing critical information or expose us to liability, which could adversely affect our business and our reputation.
- If we experience a significant disruption in our information technology systems, including security breaches, or if we fail to implement new systems and software successfully, our business operations and financial condition could be adversely affected.
- Our business involves environmental risks that may result in liability for us.
- Changes in health care policy could increase our costs, decrease our revenues and impact sales of and reimbursement for our tests.
- Ethical, legal and social concerns related to the use of genetic information could reduce demand for our tests.
- We rely on commercial courier delivery services to transport biological materials to our facilities in a timely and cost-efficient manner and if these delivery services are disrupted, our business will be harmed.
- We face risks associated with currency exchange rate fluctuations, which could adversely affect our operating results.
- Our molecular diagnostic and companion diagnostic tests in development may never achieve significant commercial market acceptance.
- If we do not compete effectively with scientific and commercial competitors, we may not be able to successfully commercialize our tests, increase our revenue or achieve and sustain profitability.
- Our international business exposes us to business, regulatory, political, operational, financial and economic risks associated with doing business outside of the United States.
- Foreign governments may impose reimbursement standards, which may adversely affect our future profitability.
- Domestic and international data protection laws and regulations may restrict our activities and increase our costs.
- Each of our molecular diagnostic tests is processed in a single one of our laboratory facilities, and any loss or prolonged interruption of our ability to use these laboratories or failure to maintain their operation in compliance with applicable regulations would seriously harm our business.
- We depend on a limited number of third parties for some of our supplies of equipment and reagents. If these supplies become unavailable or are disrupted, including as a result of COVID-19 and responses to it, then we may not be able to successfully perform our research or operate our business on a timely basis or at all.
- If our current research collaborators or scientific advisors terminate their relationships with us or develop relationships with a competitor, our ability to discover genes, proteins, and biomarkers, and to validate and commercialize molecular diagnostic and companion diagnostic tests could be adversely affected.
- If we are not able to protect our proprietary technology, others could compete against us more directly, which would harm our business.
- If we were sued for patent infringement by third parties, we might incur significant costs and delays in test introduction.
- We may be unable to adequately prevent disclosure of trade secrets, proprietary databases, and other proprietary information.
- If we fail to comply with our obligations under license or technology agreements with third parties, we could lose license rights that are critical to our business.
- We may be subject to claims that we or our employees or consultants have wrongfully used or disclosed alleged trade secrets.
- If we fail to comply with the complex federal, state, local and foreign laws and regulations that apply to our business, we could suffer severe consequences that could materially and adversely affect our operating results and financial condition.
- If the government and third-party payors fail to provide coverage and adequate payment for our existing and future tests, if any, our revenue and prospects for profitability will be harmed.
- FDA regulation of our industry generally or our tests specifically could be disruptive to our business.
- Failure to comply with laws and regulations related to submission of claims for our services could result in significant monetary damages and penalties and exclusion from the Medicare and Medicaid programs and corresponding foreign reimbursement programs.
- Our business could be harmed by the loss, suspension, or other restriction on a license, certification, or accreditation, or by the imposition of a fine or penalties, under CLIA, its implementing regulations, or other state, federal and foreign laws and regulations affecting licensure or certification, or by future changes in these laws or regulations.
- Changes in the way that the FDA regulates tests performed by laboratories like ours could result in delay or additional expense in offering our tests and tests that we may develop in the future.
- Companion and complementary diagnostic tests require FDA approval and we may not be able to secure such approval in a timely manner or at all.
- Our stock price is highly volatile, and our stock may lose all or a significant part of its value.
- We have identified two material weaknesses in our internal control over financial reporting related to our income tax provision process and our general information technology controls and such weaknesses led to a conclusion that our internal control over financial reporting and disclosure controls and procedures were not effective as of December 31, 2021. Our inability to remediate these material weaknesses, our discovery of any additional weaknesses, or our inability to achieve and maintain effective disclosure controls and procedures and internal control over financial reporting could adversely affect our results of operations, our stock price and investor confidence in us.
- Anti-takeover provisions of Delaware law, provisions in our charter and bylaws and re-adoption of our stockholders’ rights plan, or poison pill, could make a third-party acquisition of us difficult.
- We do not intend to pay dividends on our common stock so any returns will be limited to changes in the value of our common stock.
- If securities or industry analysts do not publish research or publish inaccurate or unfavorable research about our business, our stock price and trading volume could decline.
- Our restated bylaws provide that a state court located within the State of Delaware is the sole and exclusive forum for certain types of actions and proceedings that may be initiated by our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or employees.
Management Discussion
- This section of Management’s Discussion and Analysis generally discusses year-to-year comparisons between the year ended December 31, 2021 and the comparative year ended December 31, 2020. Due to our change in fiscal year from June 30th to December 31st, effective January 1, 2021, the comparative year ended December 31, 2020 was unaudited. Discussions of comparisons between (1) the transition period for the six months ended December 31, 2020 and the comparative period of the six months ended December 31, 2019 and (2) the years ended June 30, 2020 and June 30, 2019 that are not included in this Annual Report on Form 10-K can be found in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Item 7 of Part II of our Transition Report on Form 10-K for the transition period ended December 31, 2020, filed with the SEC on March 16, 2021.
Content analysis
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New words:
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Removed:
abandonment, add, aggregated, Aid, America, amid, amortizable, arise, Assurex, ASU, began, Castle, Circuit, Civil, claim, clarification, close, Cloud, collaborative, commenced, continuing, Cook, County, curb, currency, Division, domestic, elevate, emergency, expanded, FASB, fewer, finance, formal, founding, Fusion, gain, Germany, higher, hospital, incremental, inherent, initiative, international, Issuer, Japan, Law, leave, maintenance, maker, managing, MN, modify, newly, Oracle, Pipe, policy, project, purportedly, purpose, putative, recovery, remove, reportable, representative, retained, robust, select, served, similarly, simplify, Simplifying, situated, social, standard, submission, sufficiently, trade, transition, treble, unanticipated, unit, Unregistered, Welfare
Financial reports
Current reports
8-K
Departure of Directors or Certain Officers
29 Jun 22
8-K
Departure of Directors or Certain Officers
2 Jun 22
8-K
Myriad Genetics Reports First Quarter Revenue and Reiterates Guidance for 2022
5 May 22
8-K
Other Events
1 Apr 22
8-K
Provides Updates on Product Performance and Growth Initiatives
24 Feb 22
8-K
Departure of Directors or Certain Officers
9 Feb 22
8-K
Results of Operations and Financial Condition
11 Jan 22
8-K
Departure of Directors or Certain Officers
4 Jan 22
8-K
Departure of Directors or Certain Officers
14 Dec 21
8-K
Continues Strong Execution of Strategic Growth & Transformation Plans
2 Nov 21
Registration and prospectus
S-8
Registration of securities for employees
6 Jun 22
S-8
Registration of securities for employees
16 Mar 21
S-8
Registration of securities for employees
13 Aug 20
S-8
Registration of securities for employees
7 Feb 20
D/A
$249.39K in equity, sold $249.39K, 1 investor
12 Feb 19
S-8
Registration of securities for employees
8 Feb 19
S-3ASR
Automatic shelf registration
1 Aug 18
S-8
Registration of securities for employees
6 Feb 18
D
Indefinite amount in equity / securities to be acquired
13 Nov 17
S-8
Registration of securities for employees
7 Feb 17
Proxies
DEFA14A
Additional proxy soliciting materials
14 Apr 22
DEFA14A
Additional proxy soliciting materials
15 Apr 21
DEFA14A
Additional proxy soliciting materials
15 Oct 20
DEFA14A
Additional proxy soliciting materials
15 Oct 20
DEFA14A
Additional proxy soliciting materials
16 Oct 19
DEF 14A
Definitive proxy
16 Oct 19
DEFA14A
Additional proxy soliciting materials
10 Oct 18
Other
CT ORDER
Confidential treatment order
18 Dec 16
UPLOAD
Letter from SEC
24 Mar 14
CORRESP
Correspondence with SEC
6 Mar 14
UPLOAD
Letter from SEC
3 Mar 14
UPLOAD
Letter from SEC
29 Mar 12
CORRESP
Correspondence with SEC
7 Mar 12
UPLOAD
Letter from SEC
23 Feb 12
CT ORDER
Confidential treatment order
14 Jun 11
UPLOAD
Letter from SEC
23 May 10
CORRESP
Correspondence with SEC
25 Mar 10
Ownership
4
MYRIAD GENETICS / DENNIS LANGER ownership change
30 Jun 22
4
MYRIAD GENETICS / Jayne B. Hart ownership change
10 Jun 22
4
MYRIAD GENETICS / DANIEL K SPIEGELMAN ownership change
6 Jun 22
4
MYRIAD GENETICS / DENNIS LANGER ownership change
3 Jun 22
4
MYRIAD GENETICS / Rashmi Kumar ownership change
3 Jun 22
4
MYRIAD GENETICS / DANIEL K SPIEGELMAN ownership change
3 Jun 22
4
MYRIAD GENETICS / S. Louise Phanstiel ownership change
3 Jun 22
4
MYRIAD GENETICS / Lee Nisley Newcomer ownership change
3 Jun 22
4
MYRIAD GENETICS / Daniel Skovronsky ownership change
3 Jun 22
4
MYRIAD GENETICS / Colleen F Reitan ownership change
3 Jun 22
Patents
Utility
Gene Signatures for Cancer Prognosis
14 Apr 22
Biomarkers and methods using the biomarkers for classifying cancer in a patient (e.g., predicting the risk of cancer-specific death or cancer recurrence) are provided.
Utility
Copy number variant caller
25 Jan 22
Direct targeted sequencing (DTS) methods and a hidden Markov model (HMM) can be used to call the copy number of a segment of interest within a region of interest.
Utility
Methods and materials for assessing allelic imbalance
18 Jan 22
Methods and systems for detecting allelic imbalance using nucleic acid sequencing are provided.
Utility
Gene signatures for cancer prognosis
16 Nov 21
Biomarkers and methods using the biomarkers for classifying cancer in a patient (e.g., predicting the risk of cancer-specific death or cancer recurrence) are provided.
Utility
Method of treating cancer
16 Nov 21
This document provides methods and materials involved in assessing samples (e.g., cancer cells) for the presence of a loss of heterozygosity (LOH) signature.
Transcripts
2022 Q1
Earnings call transcript
6 May 22
2021 Q4
Earnings call transcript
25 Feb 22
2021 Q3
Earnings call transcript
3 Nov 21
2021 Q2
Earnings call transcript
4 Aug 21
2021 Q2
Earnings call transcript
24 Feb 21
2021 Q1
Earnings call transcript
9 Nov 20
2020 Q4
Earnings call transcript
13 Aug 20
2020 Q3
Earnings call transcript
5 May 20
2020 Q2
Earnings call transcript
6 Feb 20
2020 Q1
Earnings call transcript
4 Nov 19
Reddit threads
Daily Discussion Thread - May 5th, 2022
5 May 22
Daily Discussion Thread - May 4th, 2022
4 May 22
Daily Discussion Thread - February 24th, 2022
24 Feb 22
Daily Discussion Thread - February 23rd, 2022
23 Feb 22
Daily Discussion Thread - February 22nd, 2022
22 Feb 22
Daily Discussion Thread - February 21st, 2022
21 Feb 22
Institutional Holders and Stock Movements around Earnings
25 Nov 21
Institutional Holders and Stock Movements around Earnings
25 Nov 21
Daily Discussion Thread - November 2nd, 2021
2 Nov 21
Daily Discussion Thread - November 1st, 2021
1 Nov 21