Myriad Genetics (MYGN): Precision Oncology Pioneer with MRD and AI-Driven Growth

The race to precision oncology is accelerating, and Myriad Genetics (MYGN) is poised to dominate with its dual breakthroughs: the ultra-sensitive Precise MRD test and AI-powered Prolaris, backed by landmark ASCO 2025 data. These innovations address critical gaps in early cancer detection and personalized treatment, positioning MYGN as a leader in a $25B+ global oncology diagnostics market.

The MRD Revolution: Detecting Cancer at 0.0001% Sensitivity
Myriad's Precise MRD test, launching in 2026, leverages whole-genome sequencing (WGS) to detect circulating tumor DNA (ctDNA) at an unprecedented 0.0001% tumor fraction—100x more sensitive than standard imaging. ASCO 2025 data demonstrated 100% baseline ctDNA detection across multiple tumor types, including historically challenging cancers like renal cell carcinoma. This enables earlier recurrence detection, guiding proactive treatment decisions. For instance, in a renal cancer trial, MRD-negative patients delayed systemic therapy for a median 54 months vs. 27 months for MRD-positives. With partnerships like Japan's National Cancer Center and Memorial Sloan Kettering, MYGN is scaling clinical validation toward Simon Level 1 evidence, a gold standard for reimbursement and adoption.

AI Integration: Precision Meets Prognostics
Myriad's collaboration with PATHOMIQ injects AI into prostate cancer care, addressing a $2.5B market. The Prolaris AI test, launching in early 2026, combines Myriad's genetic profiling with PATHOMIQ's morphological analysis of biopsy images. This dual approach outperforms traditional tools like the CAPRA-S nomogram, reducing overtreatment in active surveillance and identifying high-risk patients prone to metastasis. A European Urology study showed the AI platform's 3.3x higher hazard ratio for predicting metastasis in intermediate-risk patients—critical for guiding treatments like apalutamide. With results in 1-2 days, this fusion of molecular and morphological data creates a $1,500+ per test pricing power, driving margins.

EMR Integration: Scaling Adoption
Myriad's 2025 EMR rollout with Flatiron Health and Epic streamlines test ordering, slashing administrative friction and accelerating adoption. Over 80% of U.S. cancer care facilities use these platforms, creating a viral growth channel. This integration, paired with NCCN guidelines recommending combined germline/tumor profiling, ensures Prolaris AI and Precise MRD become standard-of-care tools, not just niche products.

Catalysts and Moats: Why MYGN is Underappreciated
- 2026 Launches: Dual commercialization of Precise MRD and Prolaris AI opens $1.2B+ annual revenue streams.
- MyRisk Expansion: Adding genes by late 2025 taps into rising demand for hereditary cancer testing.
- AI Scalability: The PATHOMIQ platform's architecture supports breast and other solid tumor applications, expanding addressable markets.
- Barriers: Clinical validation (Simon Level 1), proprietary AI, and EMR integrations create high switching costs.

Investment Thesis: Buy the Precision Medicine Leader
MYGN trades at 11x 2026E EBITDA, undervaluing its $1B+ 2030E revenue potential. Near-term catalysts—EMR integration results, clinical data from ASCO 2026, and 2026 launches—will re-rate the stock. Long-term, the company's end-to-end precision oncology platform (germline, tumor, MRD, AI) is unmatched. With 70% of cancer patients needing molecular testing by 2030, MYGN's innovations are not just tools—they're the future of care.

Act Now: Myriad's MRD and AI advancements are catalyst-driven, game-changing, and underappreciated. This is a rare opportunity to invest in a $25B market leader at a valuation that ignores its full potential.