Myriad Genetics (MYGN) TD Cowen 46th Annual Health Care Conference summary

Leadership reflections and strategic priorities

• New CEO emphasized redefining strategy, focusing on cancer care continuum, and disciplined growth in prenatal and mental health segments.

• Attracted strong new talent and expanded sales roles to support growth.

• Key learning from Q2: challenges in prenatal order management system rollout, now resolved.

• Priorities include consistent execution, successful new product launches, and operational excellence.

Financial performance and outlook

• 2025 faced headwinds from UnitedHealthcare's pharmacogenomics policy and NCCN prostate cancer guideline changes, impacting revenue and market confidence.

• Actions taken included team rightsizing, focusing on high-growth accounts, and leveraging biomarker legislation.

• Exited 2025 with momentum, especially in GeneSight and prostate cancer testing.

• 2026 guidance targets 6% revenue growth ($860M–$880M), with potential to reach high single-digit growth in future years.

Product innovation and market expansion

• Multiple new products to launch in 18 months, more than in the previous five years.

• Hereditary cancer business saw 13% Q4 growth in flagship MyRisk test; volume growth expected to remain strong.

• ASP headwinds in hereditary cancer due to biopharma revenue mix and out-of-period revenue, but stability expected in 2026.

• Precise MRD assay launched in breast cancer, with colorectal and renal launches planned; aims for MolDX submission and reimbursement in 2025–2026.

• AI-enabled Prolaris Test launching in Q2, combining molecular and AI insights for improved clinical confidence.