Myriad Genetics Inc (NASDAQ: MYGN)

Myriad Genetics Inc., known by its ticker symbol MYGN, is a prominent player in the genetic testing and precision medicine industry. The company's primary focus is on developing and offering tests that help assess the risk of disease, guide treatment decisions, and provide insights that enable individuals to take control of their health. Myriad's operations span across three major sectors: Oncology, Women's Health, and Pharmacogenomics.

In the Oncology sector, Myriad provides testing services for cancer patients and offers companion diagnostic tests that work in conjunction with specific drugs and treatments. The Women's Health sector sees the company offering tests for women to assess their genetic predisposition to cancer, prenatal tests for the evaluation of fetal chromosomal disorders, and screening for recessive genetic conditions that could be passed on to offspring. In Pharmacogenomics, Myriad assists physicians in understanding how genetic alterations might impact patient response to antidepressants and other drugs.

Myriad's tests are designed to analyze genes and their expression levels to assess an individual's risk for developing disease, determine a patient's likelihood of responding to a particular drug, assess a patient's risk of disease progression, identify factors that could lead to serious conditions in pregnancy, or provide other prenatal insights. The company's extensive range of tests includes MyRisk, GeneSight, Prolaris, EndoPredict, Precise Tumor, Precise Liquid, Precise MRD, Foresight, Prequel, SneakPeek, and FirstGene.

Myriad faces competition from several key players in the industry. In the oncology market, competitors include Invitae Corporation, Ambry Genetics Corporation, Natera, Inc., Foundation Medicine, Inc, Caris Life Sciences, Tempus, Laboratory Corporation of America Holdings, and Quest Diagnostics Incorporated. In Women's Health, Myriad competes with Natera, Inc., Ambry Genetics Corporation, Laboratory Corporation of America Holdings, and Quest Diagnostics Incorporated. In Pharmacogenomics, Myriad's competitors include Genomind, Tempus, Quest Diagnostics Incorporated, and Laboratory Corporation of America Holdings. Myriad maintains its competitive edge through innovative products, proprietary DNA sequencing and RNA expression technologies, and its ability to innovate in research, development, technology, go-to-market approaches, commercial capabilities, and tech-enabled applications.

Myriad's customers consist primarily of healthcare providers, payors, and health systems. The company sells its tests primarily through its own sales force and marketing efforts in the United States, Japan, Germany, and France, and services additional global accounts through indirect sales channels. Myriad's sales and marketing efforts are geared towards driving efficiency in its sales model, expanding digital marketing capabilities, and improving customer experience.

In terms of brand names and trade names, Myriad's portfolio includes MyRisk, GeneSight, Prolaris, EndoPredict, Precise Tumor, Precise Liquid, Precise MRD, Foresight, Prequel, SneakPeek, and FirstGene.

Myriad Genetics Inc. operates in a highly regulated environment, with in vitro diagnostic (IVD) medical devices being regulated by the FDA in the United States, the European Union's In Vitro Diagnostic Medical Devices Regulation (IVDR) in Europe, and the Pharmaceuticals and Medical Devices Agency (PMDA) in Japan. Additionally, Myriad is subject to HIPAA regulations and maintains an active compliance program designed to meet the requirements of the privacy and security rules and to identify privacy and security incidents and other issues in a timely fashion.