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.
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