Myriad Genetics, Inc. (MYGN)

Myriad Genetics agreed on 19 October 2026 to sell its prenatal health testing business to Laboratory Corporation of America for $210 million in cash, plus the value of the inventory at closing 4.

The companies expect the deal to close by early 2027, subject to regulatory clearance 3.

The sale follows a weak second quarter, when revenue of $190.7 million fell 11 percent from a year earlier 2.

The company said lower prenatal test volumes and weaker revenue per test led it to cut its 2026 guidance 2.

Management called the sale the direct outcome of a strategic review and said it would strengthen the balance sheet 3.

Myriad Genetics is a molecular diagnostics company, meaning it sells tests that read a person's genes to judge disease risk and guide treatment 1.

Revenue slipped 2 percent in 2025 to $824.5 million from $837.6 million 1.

Mental Health revenue fell $26.1 million, or 15 percent, mainly because revenue per test dropped 20 percent after UnitedHealthcare changed its GeneSight coverage 1.

Prenatal revenue rose $9.2 million as revenue per test grew 10 percent, while test volume fell 4 percent 1.

Hereditary Cancer revenue rose $7.9 million on 7 percent more tests, with revenue per test down 5 percent 1.

Tumor Profiling revenue fell $4.1 million after the company sold its EndoPredict business in August 2024 1.

The 2025 net loss of $365.9 million included non-cash charges: $234.7 million of goodwill impairment and $82.0 million on intangible assets, tied to its Women's Health and Mental Health units 1.

In July 2025 the company closed a $125 million secured term loan with OrbiMed 1.

Samraat Raha became president and chief executive on 30 April 2025 1.

In 2025 it also finished moving its laboratory work into new, more automated facilities 1.

Hereditary cancer and tumor profiling

Hereditary Cancer was the largest line in 2025 at $372.4 million, 45 percent of revenue 1.

Its MyRisk test was widened in November 2025 to cover 63 genes across 11+ cancer types 1.

Tumor Profiling, which helps match cancer patients to treatments, brought in $121.7 million, 15 percent of revenue 1.

In the second quarter of 2026 the Cancer Care Continuum group, which holds these tests, grew volume 6 percent but revenue fell 11 percent to $114.1 million 2.

In July 2026 it asked the Medicare contractor program MolDX for coverage of its Precise MRD test in breast cancer 2.

Prenatal

Prenatal was $186.3 million in 2025, 23 percent of revenue 1.

It covers the Prequel, Foresight, SneakPeek and FirstGene tests, which are the business now agreed for sale to Labcorp 3.

Second-quarter 2026 prenatal revenue was $39.8 million, down 16 percent, as volume fell 9 percent 2.

Mental health

GeneSight uses a patient's genes to help clinicians understand how they may respond to antidepressants and other mental health medications 1.

It earned $144.1 million in 2025, 17 percent of revenue 1.

Second-quarter 2026 GeneSight revenue was $36.8 million, down 3 percent, with volume up 4 percent and revenue per test down 6 percent 2.

Sites, people and problems

The Salt Lake City headquarters has about 234,000 square feet of laboratory and office space, leased to 2038 1.

The company had about 2,700 full-time equivalent employees at the end of 2025 1.

Benjamin Wheeler became chief financial officer in August 2025, and Vishal Sikri became executive vice president, commercial on 16 September 2026 after Brian Donnelly left the chief commercial officer role 15.

The company expects the UnitedHealthcare coverage change to keep hurting Mental Health revenue 1.

Hereditary cancer revenue fell 13 percent in the second quarter of 2026 on lower reimbursement 2.

The umbrella, in words

Myriad earns its revenue mainly from genetic tests sold through wholly-owned subsidiaries 1.

Its test brands include MyRisk, BRACAnalysis CDx, MyChoice CDx, Precise MRD, Foresight, Prequel, FirstGene, SneakPeek and GeneSight 2.

It agreed a partnership with PATHOMIQ for the Prolaris + AI prostate test 2.

In September 2025 it agreed a collaboration with SOPHiA GENETICS on a liquid biopsy companion diagnostic 1.

The company and Labcorp expect the prenatal sale to close by early 2027 3.

Closing needs waiting periods under antitrust law to end and any required state health care approvals 4.

Labcorp expects the deal to add about $160 million in revenue in year one 3.

Myriad plans more comment on the sale and other organizational changes on its third quarter call on 4 November 2026 3.

On 30 July 2026 it guided to 2026 revenue of $770 million to $790 million and an adjusted gross margin of 66% to 67%, before the sale was agreed 2.

It also said an efficiency initiative called Ascend is under way with a professional services firm 2.

In 2026 it expects to take about 63,000 more square feet at its Salt Lake City headquarters 1.