Myriad Genetics Files 8-K for Operations Update

TL;DR

MYGN filed an 8-K, expect an update on financials soon.

AI Summary

Myriad Genetics, Inc. filed an 8-K on October 9, 2024, to report on its results of operations and financial condition, as well as to file financial statements and exhibits. The filing does not contain specific financial figures or operational details within the provided text, but indicates a formal reporting event.

Why It Matters

This filing serves as an official notification to investors and the public regarding the company's financial performance and operational status.

Risk Assessment

Risk Level: low — This is a routine filing to report financial information and does not inherently indicate new risks.

Key Players & Entities

• MYRIAD GENETICS INC (company) — Registrant
• October 9, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of incorporation
• 801-584-3600 (phone_number) — Registrant's telephone number
• 322 North 2200 West Salt Lake City, Utah 84116 (address) — Address of principal executive offices

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value MYGN Nasdaq Global Select Mar
• $210 million — r 2024 revenue of between approximately $210 million and $212 million, despite the divestitu
• $212 m — between approximately $210 million and $212 million, despite the divestiture of the C
• $835 million — ar 2024 revenue expectations of between $835 million and $845 million. The Company is in th
• $845 million — xpectations of between $835 million and $845 million. The Company is in the process of fina

Filing Documents

• mygn-20241009.htm (8-K) — 35KB
• 0000899923-24-000048.txt ( ) — 184KB
• mygn-20241009.xsd (EX-101.SCH) — 2KB
• mygn-20241009_def.xml (EX-101.DEF) — 14KB
• mygn-20241009_lab.xml (EX-101.LAB) — 25KB
• mygn-20241009_pre.xml (EX-101.PRE) — 15KB
• mygn-20241009_htm.xml (XML) — 3KB

02 Results of Operations and Financial Condition

ITEM 2.02 Results of Operations and Financial Condition. Myriad Genetics, Inc. (the "Company") previously announced by press release that it will hold an Investor Event on October 9, 2024 — in person at the Westin Grand Central Hotel in New York City and via a simultaneous live webcast. In connection with the Investor Event, the Company is disclosing certain preliminary financial data for the third quarter of 2024, specifically that the Company expects third quarter 2024 revenue of between approximately $210 million and $212 million, despite the divestiture of the Company's EndoPredict business in Europe, which closed on August 1, 2024. In addition, based partially on the Company's preliminary results for the third quarter of 2024, the Company is reaffirming its previously issued revenue and non-GAAP financial guidance for the full-year 2024 previously provided on August 6, 2024 during its second quarter 2024 earnings call. This guidance included full year 2024 revenue expectations of between $835 million and $845 million. The Company is in the process of finalizing its financial results for the third quarter of 2024 and the forgoing financial guidance, data, and other information is based on available information to date and is derived from preliminary, unaudited internal financial reports. This preliminary, unaudited financial information and data may change in connection with the finalization of the Company's financial statements for the third quarter 2024, and therefore, the foregoing financial guidance, data, and other information may not represent the Company's actual financial results for the third quarter of 2024 or thereafter.

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Current Report on Form 8-K contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including the Company's full-year 2024 financial guidance, expected 2024 revenue growth and the preliminary third quarter 2024 financial results. These "forward-looking statements" are management's present expectations of future events as of the date hereof and are subject to a number of known and unknown risks and uncertainties that could cause actual results, conditions, and events to differ materially and adversely from those anticipated. These risks include, but are not limited to: the risk that sales and profit margins of the Company's existing tests may decline; the risk that the Company may not be able to operate its business on a profitable basis; risks related to changes in the Company's financial results from the preliminary results reported in this Current Report on Form 8-K resulting from the finalization of the Company's financial statements for the third quarter of 2024; risks related to the Company's ability to achieve certain revenue growth targets and generate sufficient revenue from its existing product portfolio or in launching and commercializing new tests to be profitable; risks related to changes in governmental or private insurers' coverage and reimbursement levels for the Company's tests or the Company's ability to obtain reimbursement for its new tests at comparable levels to its existing tests; risks related to increased competition and the development of new competing tests; the risk that the Company may be unable to develop or achieve commercial success for additional tests in a timely manner, or at all; the risk that the Company may not successfully develop new markets or channels for its tests; the risk that licenses to the technology underlying the Company's tests and any future tests are terminated or cannot be maintained on satisfactory terms; risks related to

01 Financial Statements and Exhibits

ITEM 9.01 Financial Statements and Exhibits. Exhibit Number Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MYRIAD GENETICS, INC. Date: October 9, 2024 By: /s/ Scott J. Leffler Scott J. Leffler Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR