Company: MYGN
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0000899923-25-000028
Chunk: 4

Company: MYRIAD GENETICS INC
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 4
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 facility was completed in the fourth quarter of 2024, which allows us to streamline workflow processes and improve overall turnaround times. Further, we streamlined our European operations, which included the divestiture of our EndoPredict ® business in the third quarter of 2024.

Building Scalable Enterprise Capabilities to Accelerate Growth

We strengthened our overall portfolio offering and capabilities in both laboratory and back-office operations to support accelerated profitable growth at scale. We achieved significant milestones in 2024 in building our enterprise-wide infrastructure and capabilities with our state-of-the-art Labs of the Future. We completed construction of our new research and innovation center in South San Francisco and our new laboratory facility in Salt Lake City. These new facilities will enable high-volume growth at significantly lower costs with new sequencing capabilities powered by advanced automation and robust analytics.

Additionally, we completed the transition of our prenatal products to a next-generation sequencing platform and remain on track to migrate our oncology testing products—including our new Precise MRD assay—to our high-throughput Salt Lake City facility by the second quarter of 2025. Overall, we expect these new platforms and facilities to enhance test turnaround times, reduce per-test costs, and improve the customer experience for both healthcare providers and patients alike.

1 Adjusted earnings per share and adjusted EBITDA are non-GAAP financial measures. See reconciliation of adjusted earnings per share to GAAP loss per share and adjusted EBITDA to GAAP net loss in Appendix A.

#### Market Dynamics and Product Pipeline
As we look towards 2025 and beyond, we anticipate growing adoption of molecular diagnostic testing and precision medicine products, providing strong tailwinds for profitable growth across our core products. Additionally, we are developing strategies to sell across channels where we have deep commercial experience. We believe it is still early days for precision medicine and the market remains highly fragmented in most product categories. As a result, we believe we have a significant opportunity for market share gains, particularly against competitors with less robust business models.

Unfortunately, the end of 2024 presented some challenges as overall testing growth decelerated in the second half of the year. Additionally, in the fourth quarter of 2024, a national payor updated its medical policy reversing coverage of multi-gene pharmacogenomic (PGx) panel tests, including our market-leading PGx test, GeneSight ® . We strongly disagree with the payor’s rationale, which we believe is counter to the growing awareness of the value of genetic testing, reflected in the increasing number of states that are enacting