Myriad Genetics Posts $43.9M Third-Quarter Loss
MYGN has more than doubled off its 52-week low of $2.74.
Summary
Myriad Genetics reported a $43.9 million loss for its third quarter, or 46 cents a share, a sizable hit for a company with a market value of roughly $576 million. Revenue came in at $202.7 million, versus an IBES estimate of USD 191.3 million. The red ink lands just two weeks after the company agreed to sell its prenatal testing franchise — Prequel, Foresight, SneakPeek and FirstGene — to Labcorp for $210 million, a deal that will reshape the revenue base going forward. It also follows the September 16 8-K replacing the Chief Commercial Officer and reaffirming full-year 2026 guidance, a reaffirmation that now looks harder to defend. The prior quarter already missed revenue estimates by $15.3 million on declining reimbursement and prior-period adjustments, with cash burn accelerating.
At the time of this announcement, MYGN was trading at $6.60 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $575.8M. The 52-week trading range was $2.74 to $8.09. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.