Myriad Genetics (MYGN) Morgan Stanley 22nd Annual Global Healthcare Conference summary

Transformation and operational progress

• Significant transformation over the past four years, with improved team capacity and process industrialization nearly complete.

• Lab of the Future initiative has enabled high-volume, low-cost operations with strong quality measures and zero deficiencies in recent FDA and NY State surveys.

• Improved turnaround times, average selling price (ASP), and customer satisfaction scores amid industry dislocation.

• Achieved organic growth with expectations for acceleration in the second half of the year.

GeneSight and pharmacogenomics

• Discontinued a health economic study due to inability to isolate GeneSight's specific impact, but phase one showed 29%-39% reduction in hospital utilization and cost.

• No impact on payer momentum, coverage, or adoption; recent payer wins and strong ASP growth continue.

• Biomarker laws in multiple states are supporting adoption, with expectations for increased uptake and payment.

• Focus remains on clinical validity and utility studies to support continued double-digit growth.

Hereditary cancer and revenue cycle

• Stable ASP expected for hereditary cancer, reversing prior pricing declines due to market exits and payer contract renewals.

• Revenue cycle management and EMR integration initiatives are reducing no-pay rates and supporting ASP growth.

• Market penetration for unaffected patients and expanded guidelines are driving growth.

• Double-digit volume growth expected in 2025, with share gains from market dislocation.