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Wednesday, June 11, 2025

Myriad Genetics at Goldman Sachs Conference

 On Wednesday, 11 June 2025, Myriad Genetics (NASDAQ:MYGN) participated in the Goldman Sachs 46th Annual Global Healthcare Conference. The company’s leadership shared a cautiously optimistic outlook, highlighting strategic growth opportunities while addressing current challenges. Despite slower growth this year, Myriad remains focused on profitability and operational efficiency.

Key Takeaways

  • Myriad aims for high single-digit to low double-digit revenue growth, driven by hereditary cancer, molecular profiling, MRD, and prenatal testing.
  • The company maintains strong gross margins around 70% and is investing in strategic initiatives like EMR integrations and the Lab of the Future.
  • Challenges include EMR integration issues and the impact of UnitedHealthcare’s decision on GeneSight coverage.
  • Myriad is leveraging partnerships and technological advancements to enhance its product offerings.

Financial Results

  • Gross Margins: Currently around 70%, with plans to maintain and improve.
  • OpEx Strategy: Focused on strategic investments in EMR, MRD, and Pathomic, while reducing discretionary spending.
  • Revenue Growth: Targeting high single-digit to low double-digit growth long-term.
  • ASP Performance: Strong overall, despite headwinds from GeneSight.
  • Cost per Test: Improvements expected from Lab of the Future integrations.

Operational Updates

  • EMR Integrations: Completed 4,500 integrations last year, addressing challenges in unaffected hereditary cancer with Epic integration.
  • GeneSight: Redirected resources to focus on profitability after UnitedHealthcare’s coverage decision.
  • Prolaris: Enhanced commercial intensity through new staff and a partnership with Pathomic for AI integration.
  • PRECISE MRD: Demonstrated high sensitivity in detecting low-shedding tumors.
  • Lab of the Future: Largely complete, expected to drive future margin improvements.

  • Future Outlook

  • Hereditary Cancer: Anticipating mid-to-high single-digit growth, with programs like breast cancer risk assessment.
  • Molecular Profiling: Targeting high single-digit to low double-digit growth through Prolaris and comprehensive genomic profiling.
  • MRD: Expected double-digit growth, focusing on low-shedding tumors.
  • Prenatal Testing: Aiming to maintain or exceed market growth with new assays.
  • GeneSight: Growth expectations adjusted to low-to-mid-single-digit.

Q&A Highlights

  • MRD Testing: Potential applications beyond recurrence, including therapy de-escalation.
  • GeneSight: Challenges in demonstrating health economic value to UnitedHealthcare.
  • Investor Communication: Emphasis on conveying the clinical and economic benefits of Myriad’s tests.

In conclusion, Myriad Genetics remains committed to strategic growth and operational efficiency. For a deeper dive into the company’s plans and challenges, refer to the full transcript below.

Full transcript - Goldman Sachs 46th Annual Global Healthcare Conference:


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