Myriad Genetics stock lifts outlook after resilient Q3 performance

Myriad Genetics reported third-quarter 2026 results on Wednesday, November 4, with revenue above analyst expectations despite a year-over-year decline. The company also raised its full-year outlook and continued preparations to sell its Prenatal Health business to Labcorp, according to GenomeWeb.

Revenue beats despite mixed segments

Myriad generated USD 202.7 million in third-quarter revenue, a 1 percent decline from the same period a year earlier and a 6 percent increase from the second quarter. The result exceeded the USD 191.3 million consensus estimate cited in the report.

Cancer Care Continuum revenue rose 1 percent to USD 123.9 million, while Mental Health revenue increased 2 percent to USD 39.5 million. Prenatal Health revenue fell 12 percent to USD 39.3 million as test volumes weakened.

The company reported a net loss of USD 43.9 million, or USD 0.46 per share, compared with a net loss of USD 27.4 million, or USD 0.29 per share, a year earlier. Adjusted loss per share was USD 0.11, better than the USD 0.20 loss expected by analysts.

Guidance rises as portfolio changes

Myriad lifted its full-year 2026 revenue range to USD 780 million to USD 790 million from USD 770 million to USD 790 million previously. The midpoint increased to USD 785 million as stronger core testing performance partly offset softer Prenatal Health expectations.

Myriad agreed to sell its Prenatal Health business to Labcorp for USD 210 million in cash plus inventory. Management expects the transaction, which is expected to close by early 2027, to sharpen the company's focus on cancer testing and support future margin improvement.

Myriad Genetics stock traded at 5.97 euros on Lang & Schwarz at 23:00 CET on Wednesday, November 4. The real-time quote of Myriad Genetics stock is available here.

Diagnostics focus defines the business

Myriad Genetics is a Salt Lake City-based molecular diagnostics company serving cancer care, mental health and prenatal health markets. Its portfolio includes hereditary cancer, tumor and mental health testing, with the business increasingly focused on cancer diagnostics after the planned divestiture.

The company operates in a specialist segment of the molecular diagnostics industry, where testing demand, reimbursement decisions and revenue per test influence growth. Its portfolio transition is intended to give the remaining business a narrower operating focus.

Broader US equities remain the relevant market backdrop for investors following Myriad Genetics.

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