Myriad Genetics Misses Q4 Sales Targets, Stock Drops Amidst Market Uncertainty

Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in genetic testing and precision medicine, has reported fourth quarter and full-year 2024 financial results that have fallen short of market expectations, leading to a decline in the company's stock price. The company's earnings and revenue for the quarter missed analyst projections, and its full-year guidance for 2025 has been reiterated but remains cautious. Myriad Genetics has attributed the sales shortfall to lower-than-expected revenue from tumor profiling and increased competition in the market.

The company reported a GAAP net loss of $(42.5) million in the fourth quarter of 2024, compared to a net loss of $(31.2) million in the same period last year. Earnings per share (EPS) for the quarter were $(0.47), compared to $(0.36) in the same period last year. Excluding items, Myriad Genetics reported adjusted earnings of $3.2 million or $0.03 per share for the period, in line with analyst projections of $0.03 per share. Revenue for the quarter was $210.6 million, compared to $196.6 million in the same period last year, driven by continued demand for pharmacogenomics (14%) and prenatal (12%) testing.

Myriad Genetics' stock price has dropped following the announcement of its financial results, reflecting investor concerns about the company's sales performance and market outlook. The company's shares were trading at $25.35 as of February 25, 2025, down from their 52-week high of $32.50. Myriad Genetics' stock price has been volatile in recent months, with the company's shares experiencing a significant decline in late 2024 and early 2025.



Myriad Genetics has attributed the sales shortfall to lower-than-expected revenue from tumor profiling, which decreased by 4% year-over-year, and increased competition in the market. The company's testing volumes for tumor profiling decreased by 14% year-over-year, from 14,000 to 12,000 tests. Myriad Genetics has also faced economic headwinds and reimbursement challenges, which may have impacted its sales performance.

To address the sales shortfall and regain investor confidence, Myriad Genetics has several strategic initiatives and product launches planned. The company is investing in its Labs of the Future strategy, which aims to enhance its ability to serve more patients seamlessly and efficiently. Myriad Genetics is also planning to introduce several new products in the second half of 2024 or early 2025, including Foresight Universal Plus, FirstGene, Precise Tumor (relaunch) and Liquid, and Precise MRD for research use by its pharmaceutical partners. Additionally, the company has entered into a strategic collaboration with PATHOMIQ to add artificial intelligence (AI) technology to its Oncology portfolio, which may help the company to improve its offerings and better serve its patients and healthcare providers.



In conclusion, Myriad Genetics has missed its Q4 sales targets, leading to a decline in the company's stock price. The company has attributed the sales shortfall to lower-than-expected revenue from tumor profiling and increased competition in the market. To address the sales shortfall and regain investor confidence, Myriad Genetics has several strategic initiatives and product launches planned. Investors should closely monitor the company's progress and market performance as it works to rebound and achieve growth in the coming years.