Myriad Q2 Revenue Misses, Slashes 2026 Outlook on Payer Friction
MYGN is trading near its 52-week low of $3.53 (12% above the low).
Summary
Myriad Genetics reported Q2 revenue of $190.7M, missing consensus by $15.3M and falling 11% year-over-year. Adjusted EPS swung to a loss, also missing estimates. The company cut its full-year 2026 revenue guidance to $770M-$790M and suspended adjusted EBITDA guidance entirely, citing increased payer friction, lower test volumes, and pricing pressure. Hereditary cancer testing and prenatal health both weakened, with prenatal revenue down 16%. This follows a Q1 net loss of $34.1M and a recent board resignation, deepening concerns about execution. The stock, already down sharply from earlier levels, faces further pressure as the guidance reset signals ongoing headwinds.
At the time of this announcement, MYGN was trading at $3.95 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $507.2M. The 52-week trading range was $3.53 to $8.59. This news item was assessed with negative market sentiment and an importance score of 9 out of 10. Source: Reuters.