Myriad Genetics, Inc. (NASDAQ:MYGN) Q4 2019 Earnings Conference Call Transcript

Aug 13, 2019 • 04:30 pm ET

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Myriad Genetics, Inc. (NASDAQ:MYGN) Q4 2019 Earnings Conference Call Transcript

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Presentation
Executive
Mark C. Capone

will add the three-year risk for cardiovascular events based upon the Vectra score and additional clinical parameters.

In market research, physicians saw substantial additional value for Vectra when all three features were included on the test report. This is particularly true for cardiovascular risk since it is the highest cause of mortality in rheumatoid arthritis patients. We are also anticipating the release of the American College of Rheumatology Diagnostic Guidelines in late calendar year 2019. We believe that if Vectra is identified as an option in guidelines, it could provide a catalyst for both test adoption and payer coverage.

With myPath Melanoma, we have completed our sales force hiring and training and now have a team of eight representatives focused on high volume dermatopathologists. We have not incorporated any material of myPath revenue in our guidance, so increased adoption of the test would represent upside.

Finally, we have submitted a PMA for myChoice HRD as a companion diagnostic for niraparib in advanced ovarian cancer. Based on typical time frames, we anticipate approval in the first half of the fiscal year along with reimbursement. However, prior to approval, we have not incorporated this into guidance.

In summary, we believe the headwinds we faced in fiscal year 2019 are behind us. We have a solid foundation provided by the Hereditary Cancer business and the opportunity for transformational revenue and earnings growth with our new products. In addition, we have a number of upsides that are highly likely to materialize, but have not been incorporated into guidance. We are confident that we will generate financial momentum throughout the fiscal year and will exit the year with record quarterly revenues and substantial growth opportunities.

With that, I would now like to turn the call back over to Scott.

Executive
Scott Gleason

Thanks, Mark. As a reminder, during today's call, we use certain non-GAAP financial measures. A reconciliation of the GAAP financial results to the non-GAAP financial results and a reconciliation of GAAP to non-GAAP financial guidance can be found under the Investor Relations section of our website. Now we're ready to begin our Q&A session. [Operator Instructions] Operator, we're now ready for the Q&A portion of the call.