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Company Lowers FY26 Revenue Outlook to $863.58M
Consensus $863.58M. Sees FY26 adjusted gross margin 66%-67%. The company said, "Revised the full-year 2026 revenue range lower, reflecting Q2 results and current business trends."
Myriad Genetics Q2 Revenue $190.7M, Below Consensus
Reports Q2 revenue $190.7M, consensus $206.03M. "In the second quarter, we continued to make meaningful progress on the Cancer Care Continuum on a number of fronts, including 6% year-over-year volume growth supported by the ramp up of our expanded sales team, the launch of Prolaris + AI, the expansion of Precise MRD to include colorectal cancer and renal cancers, along with the submission of Precise MRD breast to MolDX," said Sam Raha, President and CEO, Myriad Genetics. "During the quarter, we advanced work on a strategic review with the intention to identify initiatives to increase growth, profitability, and liquidity. We have activated an initiative called Ascend to increase organizational efficiency, effectivity and scalability and are being supported by a leading professional services firm. We are also doing a rigorous evaluation of our product portfolio to determine the optimal allocation of capital and enhancement of shareholder value."
Myriad Genetics Appoints Raj Jampa as CTO
Myriad Genetics announced the appointment of Raj Jampa as chief technology officer, effective June 1. As CTO, Jampa will be responsible for strategy and execution of Myriad's technology organization, including further leveraging AI to drive increased efficiency and effectivity.
Myriad Genetics Launches Prolaris + AI Test
Myriad Genetics announced the launch of the Prolaris + AI Test at the end of this month. Prolaris will be the first and only prostate cancer biomarker test to unite clinical-pathological features, an independent molecular score, and independent AI-powered digital pathology technology.1-4 This combination helps identify if a patient is safe for active surveillance, or AS, and how refinement of AS intensity can be personalized.4-8 This new paradigm in patient care builds upon technology from PATHOMIQ AI, a digital pathology AI platform company. The Prolaris + AI test is the only test where AS metrics on patient results were built on studies with previously diagnosed, untreated patient cohorts.1-4 The Prolaris + AI test will continue to help doctors identify patients who are safe for single-modal treatment. AS is recommended by major clinical guidelines for men with low- and favorable intermediate-risk prostate cancer, but follow-up can vary widely by the limited ability of traditional clinical and pathology tools to predict short-term tumor behavior to help guide surveillance intensity. The Prolaris + AI Test was developed to address this gap by providing the likelihood of a higher Gleason score at next biopsy to help clinicians tailor AS protocols.
Myriad Genetics Q1 Revenue at $200.4M, Below Consensus
Reports Q1 revenue $200.4M, consensus $202.44M. "We are seeing strong performance across a number of key areas, including the Cancer Care Continuum as we begin to realize a return on our focused strategy. We have implemented a dedicated hereditary cancer sales force and other key programs designed to support the expected continued growth in germline testing. And with decisive steps taken to address our Prenatal Health business, we expect improved performance in the remainder of 2026," said Sam Raha, President and CEO, Myriad Genetics. "Our limited launch of Precise MRD for breast cancer patients has received positive early feedback and we remain on track with our other planned launches in 2026, as part of our milestone-rich year. We are confident these tests will be important drivers of our growth in 2027 and beyond."
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