Myriad Genetics to Update Progress on Transformation Plan and Growth Initiatives, Share Long-Term Financial Outlook at 2021 Investor Day
SALT LAKE CITY, May 03, 2021 (GLOBE NEWSWIRE) -- At its 2021 Investor Day, Myriad Genetics, Inc. (NASDAQ: MYGN), today will provide a strategic business update, including an overview of initiatives to expand its reach and solidify its position as a leading partner in genetic testing and precision medicine. The webcast, from 11 am-1:30 pm EDT, will include commentary on the company’s long-term financial outlook and a progress report on the execution of its transformation plan, and growth initiatives and planned divestitures.
Paul J. Diaz, president and CEO of Myriad Genetics, and the executive leadership team will share announcements that span Myriad’s core businesses in Women’s Health, Oncology and Mental Health, supported by new tech-enabled enterprise and commercial capabilities to better serve patients and healthcare providers.
Beginning this quarter, Myriad Genetics began to implement the second phase of its transformation plan. This will be discussed in greater detail at its Investor Day. Key themes will include:
Best-in-class quality, service, and accessibility: Myriad Genetics has leading products with differentiating scientific advantages across its portfolio of products and services in hereditary cancer, precision oncology and companion diagnostics, prenatal screening, and mental health. Myriad has invested significantly in improving its customer experience and pricing models to elevate its products to full potential and make them more accessible.
Tech-enabled enterprise capabilities to support growth: Myriad Genetics recently launched a new commercial organization supported by customerfacing technology solutions. The company also has begun to invest in a“Lab of the Future” with highly automated tools and testing processes that improve accuracy, increase productivity, reduce turnaround time, and lower cost of goods sold.
Leveraging data and genetic insights to broaden product offerings: Myriad Genetics curates approximately one million samples per year from patients facing some of the most burdensome disease states in healthcare such as mental illness and cancer. The company will further leverage these assets to enhance product offerings, develop new products and supportive technologies, and create potential for new partnerships.
Execution to drive long-term growth and profitability: Myriad Genetics is focused on returning to long-term organic growth and profitability, and expects to be profitable by Q421. As part of its Investor Day, the company will discuss operational efficiencies and growth enalers coupled with long-term organic growth targets.
To watch the company’s Investor Day event, including executive presentations and live Q&A, please visit the investor portal on company’s website or simply click on the link here. A replay also will be available.
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