Investing
Myriad Genetics (MYGN) Rises on Labcorp Sale, Guidance
Myriad Genetics stock rose 7.9% after Q3 revenue of $202.7 million, a raised guidance mid-point and a $210 million Prenatal Health sale to Labcorp.
Myriad Genetics stock (NASDAQ: MYGN) was up 7.89% in morning trading on November 5, 2026, the day after the company reported third-quarter revenue of $202.7 million and raised the mid-point of its full-year revenue guidance. Guidance is the company's own forecast. The release also detailed a deal to sell its Prenatal Health business to Labcorp for $210 million in cash.
What Myriad Genetics reported
| Metric | This period | A year earlier | Change |
|---|---|---|---|
| Revenue | $202.7M | $205.7M | -1% |
| Cancer Care Continuum and Mental Health revenue | $163.4M | $161.2M | +1% |
| Gross margin | 67.9% | 69.9% | -200 bps |
| Operating loss | $39.9M | $23.3M | Wider |
| Net loss per share | $0.46 | $0.29 | Wider |
A basis point (bp) is one hundredth of a percentage point. The company blamed the lower margin on lower test volumes and added lab staff. Prenatal Health revenue fell 12% to $39.3 million. Labcorp will pay $210 million in cash plus the value of the unit's inventory at closing.
Full-year 2026 revenue guidance is now $780 million to $790 million. That includes $620 million to $630 million from Cancer Care Continuum and Mental Health and about $160 million from Prenatal Health. The company also expects an adjusted gross margin of 66% to 67%. This measure excludes non-cash and one-time costs.
Why the stock rose 7.9%
The gain was about one and a half times the size of a typical day's swing for the stock, notable but not extreme. CEO Sam Raha said third-quarter results "exceeded our expectations". Average revenue per test rose 7% from the second quarter, helped by a richer mix of cancer tests and better billing with insurers. The Labcorp cash would land on a balance sheet holding $107.1 million in cash, down from $149.6 million at the end of 2025.
What to watch next
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Closing of the Labcorp sale, which needs regulatory approval and is expected by early 2027.
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Fourth-quarter revenue against the $780 million to $790 million full-year range.
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A Medicare coverage decision for the Precise MRD test in breast cancer patients.
FAQ
Which tests is Myriad Genetics selling to Labcorp?
The Prenatal Health sale covers the Prequel, Foresight, SneakPeek and FirstGene tests. Volumes for these tests fell 11% to 138,000 in the quarter.
Is Myriad Genetics profitable?
No. Net loss widened to $43.9 million from $27.4 million a year earlier. Adjusted free cash flow, cash left after running the business and investing in equipment and software, was $1.6 million.
Sources
This article is for information only and is not investment advice.