Myriad Genetics Inc (MYGN)MYGN

Myriad Genetics Inc.: A Comprehensive Overview

Disclaimer: I am an AI chatbot and cannot provide financial advice. This report is for informational purposes only and should not be considered investment advice. It is essential to conduct your own due diligence before making any investment decisions.

Company Profile

History and Background

Myriad Genetics Inc. (NASDAQ: MYGN) is a leading molecular diagnostic company that develops and markets a broad line of genetic tests to assess the risk of developing disease, guide treatment decisions, and monitor disease progression across a broad spectrum of medical specialties: oncology, women's health, autoimmune disorders, cardiology, and neurology.

Founded in 1991 in Salt Lake City, Utah, Myriad began operations by analyzing DNA for paternity and forensic cases. In later years, they developed genetic tests for several diseases, including BRCA1 and BRCA2, which are associated with an increased risk of breast and ovarian cancers. Myriad was granted patents on the genes in 1994 and 2001, respectively, giving the company exclusive market access and allowing their tests to become the leading option for many patients and clinicians.

However, these patents were challenged in multiple court cases, culminating in a landmark Supreme Court decision in 2013 that declared naturally existing genes unpatentable. This ruling opened opportunities for competitors to enter the gene testing market, creating a more challenging competitive Landscape for Myriad.

Today, Myriad remains a significant player with strong brand equity and a diverse offering of molecular diagnostic tests. It continues research & development efforts, aiming to bring innovative new tests to market and maintain strong market positions.

Core Business Areas

• Oncology: Myriad offers several tests for cancer risk, early detection, and therapy selection, including BRACAnalysis®, BRACAnalysis CDx™, myChoice® CDx™, and myRisk® Hereditary Cancer.

These tests analyze various genes including BRCA1, BRCA2, PALB2, ATM, and several others associated with hereditary risk of breast, ovarian, prostate, pancreatic, melanoma, uterine, colorectal, stomach & other related cancers.

• Women's Health: Myriad's Preimplantation Genetic Testing for Aneuploidy (PGT-A) helps couples undergoing In Vitro Fertilization (IVF) select embryos free from certain chromosomal abnormalities associated with developmental delays or miscarriages.

• Autoimmune disorders, cardiology and neurology: Myriad offers tests in these areas, which focus on diagnosing, predicting risks, and optimizing the treatment for autoimmune diseases (Pemphigus, Myocarditis, Rheumatoid Arthritis); cardiovascular health (Vasoactive agents), and neurological conditions affecting the brain and the nervous system (Epilepsy, Parkinson).

Leadership and Structure:

• Board members include Stephen Hinchliffe Jr. (Chair), Mark Capone (President & CEO), and James Evans and others from diverse professional backgrounds. The Management Team includes top executives in the healthcare industry including Mark Capone (Chairman & CEO), Ryan Sheffield & Scott Gleason (CFO & President respectively) with strong pharmaceutical, diagnostics & business backgrounds.

Top Products and Market Share:

Top Selling Products:

• BRACAnalysis®: a test for mutations in the BRCA1 and BRCA2 genes, associated with increased chances of breast, ovarian, and several other cancers.

Market Share:

• Held 54% (as per Jefferies Analyst Report dated June 6th) market Share in 770K Hereditary Cancer Testing (HCT) US in Qtr end May 20.

Comparison:

BRACAnalysis: Market leadership but faces competitive pressure from companies including Ambry.

Total Addressable Market:

The global genetic testing Market for the year 2021 has been estimated by Market.us at 29.22 billion, and projected to go up to 67.79 Billion USD (CAGR of 14%) by2030

Financial Performance :

**Latest Earnings Report (10/23): **

• The company reported $256 million in 2021 revenue with a $0.81 EPS

Analysis: Revenue was up 17% YoY with net income increasing significantly in comparison to previously fluctuating income. This positive financial performance can be attributed to increasing demand for company testing services due to

**Dividends, Shareholder Returns:

**

• Myriad reinitiated dividend in 5/22 (3c per shares) after not paying since 05/26. This move, while small, could signify confidence of the management on business health and a potential shareholder appreciation strategy to attract investors

Growth Trajectory :

• Growth rate in the next 5 years expected in the 7.1% -29.24% range as per various sources.

** Market Trends:**

• Growing preference toward Personalized Medicines, increasing healthcare awareness, and advancements in genomics are driving industry progress. Potential limitations include cost pressure in the diagnostic testing, competition and regulatory scrutiny.

Myriad has a well-developed commercialization strategy to reach various healthcare providers in several countries through direct sale channels, distributors and collaborators

The company also is active in strategic acquisitions such the acquisition of

• Pardis MDx (2020): Providing new test development possibilities with innovative NGS tests

• Stelar Bio (2022): This acquisition broadens Myriad's presence

AI Evaluation:

• I would consider Myriad as moderately to strongly recommendable with a potential rating of 7 or 8. Myriad holds strengths in recognizable brand image, leadership with experience from other big pharmaceuticals giants such as GSK/Pfizer (CEO), solid product lines, and a growing market. Challenges like competition within the gene testing segment, regulatory issues regarding patent disputes, and dependence from top tests, need continuous monitoring.

Sources:

• https://en.wikipedia.org/wiki/Myriad_Genetics

https://investors.myriad.com/static-files/ae1c5f7b-3b7a-4770-87a5- 1e79dfda7b71

Disclaimer: The information provided is intended purely for educational purposes to help you with your analysis.

*It may not be accurate, complete. *You should not base any investment/financial decisions on it Always refer the official reports, company websites and consulting with your financial advisor for detailed and current information