Myriad Genetics reports Q3 adjusted EPS 0c, consensus (1c)

Reports Q3 revenue $205.7M, consensus $205.14M. “I am pleased with our solid results for the quarter, including stable year-over-year revenue performance excluding previously noted headwinds, and 13% year-over-year volume growth for our MyRisk hereditary cancer test. Our disciplined execution also enabled our gross margin to be among the best in the industry and again yielded positive adjusted EBITDA,” said Sam Raha, President and CEO, of Myriad Genetics (MYGN). “We are executing on our updated strategy to accelerate profitable growth by focusing on the Cancer Care Continuum, including recently entering into a collaboration with SOPHiA GENETICS to provide Pharma customers with CDx development services using a leading liquid biopsy therapy selection assay. We also made changes to our organizational structure and capital deployment, and expect these actions to support us in improving customer experience, gaining market share, and reducing operating expenses as a percentage of revenue going forward.”