Slide 1: Myriad Genetics Fiscal First-Quarter 2019 Earnings Call
Myriad Genetics Fiscal First-Quarter 2019 Earnings Call 11/06/2018 Exhibit 99.2
Slide 2: Forward Looking Statements
Forward Looking Statements Some of the information presented here today may contain projections or other forward-looking statements regarding future events or the future financial performance of the Company. These statements are based on management’s current expectations and the actual events or res
Slide 3: FY 2019 First-Quarter Financial Results
FY 2019 First-Quarter Financial Results 1Q19 Actual Results 1Q18 Actual Results YoY Change Revenue (in mil.) $202.3 $178.8 13% GAAP EPS ($0.01) $1.12 NM Adjusted EPS $0.43 $0.29 48% Organic Adjusted EPS* $0.52 $0.29 79% Copyright © 2018 Myriad Genetics, Inc., all rights reserved. www.Myriad.com. *Ex
Slide 4: Critical Success Factors to Achieving Strategic Goals
Critical Success Factors to Achieving Strategic Goals Grow new product volume STRATEGIC GOALS CRITICAL SUCCESS FACTORS >10% Revenue Growth >30% Operating Margin 7 Products >$50M >10% International Revenue Expand reimbursement coverage for new products Increase RNA kit revenue internationally Improve
Slide 5: Solid Hereditary Cancer Foundation
Solid Hereditary Cancer Foundation Seven Quarters of YoY Volume Growth With Stable Pricing Copyright © 2018 Myriad Genetics, Inc., all rights reserved. www.Myriad.com. Hereditary Cancer Revenue 7 sequential quarters with YoY volume growth 4 sequential quarters with stable pricing Double-digit volume
Slide 6: Record GeneSight Ordering Physicians
Record GeneSight Ordering Physicians Continued Strong Volume Trends With 28% Year-Over-Year Growth Copyright © 2018 Myriad Genetics, Inc., all rights reserved. www.Myriad.com. 28% Growth GeneSight Volume Ordering Doctors Over 15,500 ordering doctors in 4Q18 35% Growth
Slide 7: Continued Strong Prenatal Volume Trends
Continued Strong Prenatal Volume Trends Significant Opportunity for Sales Synergies in 2H FY19 Copyright © 2018 Myriad Genetics, Inc., all rights reserved. www.Myriad.com. Prenatal Test Volume 16% YoY Volume Growth
Slide 8: Advances in Reimbursement Coverage For New Products
Advances in Reimbursement Coverage For New Products New Product Reimbursement 1.6B in Potential Revenue Current U.S. Coverage GeneSight GUIDED study acceptance expected in Q2 FY19 GeneSight IMPACT and Optum Health studies published Blue Shield of California covers Prolaris increasing total commercia
Slide 9: Continued Expansion in Prolaris Reimbursement
Continued Expansion in Prolaris Reimbursement 9 Commercial Payers Now Cover the Test Totaling 24 Million Lives 225 Sales Reps 80 Sales Reps Copyright © 2018 Myriad Genetics, Inc., all rights reserved. www.Myriad.com. Commercial Insurers 24 million commercial lives under coverage Medicare Low & Favor
Slide 10: International Developments
International Developments Kit-Based Strategy With Restructuring to Global LDT Laboratory Revised NICE draft guidance document on breast cancer prognostics recommends EndoPredict as one of three diagnostic tests – final guidelines anticipated by end of CY18 All laboratory developed tests expected to
Slide 11: Improve Profitability With Elevate 2020
Improve Profitability With Elevate 2020 Adjusted OM Improves 550 BP Since Start of Elevate 2020 Organic Total Expenses ($M) FY18 Targeted Savings = $17M Copyright © 2018 Myriad Genetics, Inc., all rights reserved. www.Myriad.com. Organic Adjusted Operating Margin 18.5% 24.0%
Slide 12: FY 2019 First-Quarter Revenue By Product
FY 2019 First-Quarter Revenue By Product Product 1Q19 1Q18 YoY Growth Hereditary Cancer $116.3 $117.0 (1%) GeneSight $29.3 $28.8 2% Prenatal Testing $18.1 $0.0 NM Vectra $13.0 $14.0 (7%) Prolaris $6.2 $3.9 59% EndoPredict $2.4 $1.8 33% Other $3.7 $1.9 95% Total Molecular Diagnostic Revenue $189.0 $1
Slide 13: Fiscal First-Quarter Financial Results
Fiscal First-Quarter Financial Results Adjusted Earnings Per Share Increase 48% Over Q1 FY2018 GAAP Results Adjusted Results 1Q19 1Q18 YoY Growth 1Q19 1Q18 YoY Growth Total Revenue $202.3 $178.8 13% $202.3 $178.8 13% Gross Profit $152.6 $135.8 12% $155.9 $136.1 15% Gross Margin 75.4% 76.0% -160 bps
Slide 14: FY19 and 2Q19 Financial Guidance
FY19 and 2Q19 Financial Guidance Metric Fiscal Year 2019 2Q19 Revenue $855 to $865 million $216 to $218 million GAAP Diluted EPS $0.40 to $0.45 $0.06 to $0.08 Adjusted EPS $1.70 to $1.75 $0.36 to $0.38 Copyright © 2018 Myriad Genetics, Inc., all rights reserved. www.Myriad.com.
Slide 15: Potential Upside Drivers to Guidance
Potential Upside Drivers to Guidance Reimbursement and Counsyl Revenue Synergies Material Opportunity GeneSight commercial payer coverage decisions and expanded Medicare LCD Revenue synergies from the Counsyl acquisition in the second half of fiscal year 2019 Return to in-network status with UNH for
Slide 16: Almost ¼ of Women in OBGYN Practices Meet Guidelines
Almost ¼ of Women in OBGYN Practices Meet Guidelines Previous Market Estimates Likely Understate True Market Size Copyright © 2018 Myriad Genetics, Inc., all rights reserved. www.Myriad.com. 23.8% of women met NCCN criteria for hereditary cancer testing Source: DeFrancesco et al. Hereditary Cancer R
Slide 17: Adding HOXB13 Gene to MyRisk Hereditary Cancer Panel
Adding HOXB13 Gene to MyRisk Hereditary Cancer Panel Important Gene For Determining Hereditary Prostate Cancer Risk Copyright © 2018 Myriad Genetics, Inc., all rights reserved. www.Myriad.com. HOXB13 HOXB13 Clinical Implications: Men with a deleterious variant have up to a 52% lifetime risk of prost
Slide 18: Study Highlights Importance of Variant Reclassification Program
Study Highlights Importance of Variant Reclassification Program Key Competitive Differentiator for Myriad’s myRisk Hereditary Cancer Test Copyright © 2018 Myriad Genetics, Inc., all rights reserved. www.Myriad.com. 1.45 Million Patients Tested Over 10 Years 25% of VUS reclassified leading to 59,995
Slide 19: Optum Study Strengthens GeneSight Health Economic Data
Optum Study Strengthens GeneSight Health Economic Data First Year Savings >$6,000 in Patients With Major Depressive Disorder Copyright © 2018 Myriad Genetics, Inc., all rights reserved. www.Myriad.com. GeneSight TAU Savings All Psychiatry Patients $17,627 $23,132 $5,505 (p=0.0004) Patients With MDD
Slide 20: Robust Clinical Evidence Supporting GeneSight
Robust Clinical Evidence Supporting GeneSight GUIDED Study Provides Level One Evidence Supporting Clinical Utility Copyright © 2018 Myriad Genetics, Inc., all rights reserved. www.Myriad.com. p=0.013 p=0.007 Outcome Measures at Week 8 50% improvement in remission n=560 n=607 p=0.107 30% improvement
Slide 21: Patients Switching From Red Medications
Patients Switching From Red Medications Highly Statistically Significant Improvement in All Endpoints Copyright © 2018 Myriad Genetics, Inc., all rights reserved. www.Myriad.com. Baseline Week 8 Baseline Week 8 Remission Symptom Improvement Response Switch No Switch Switch No Switch Switch No Switch
Slide 22: Significant Opportunity for Revenue Synergies
Significant Opportunity for Revenue Synergies Combined Sales Teams Will Triple Physician Reach in Women’s Health Copyright © 2018 Myriad Genetics, Inc., all rights reserved. www.Myriad.com. 16,000 Women’s Health Call Points 37,000 OBGYNs in Clinical Practice 9,000 Unique Ordering Physicians 3,500 Un
Slide 23: Reimbursement Catalysts for Foresight and Prelude
Reimbursement Catalysts for Foresight and Prelude New Coverage Decisions and Medical Policy Changes Could Increase ASP Copyright © 2018 Myriad Genetics, Inc., all rights reserved. www.Myriad.com. Medicare announces preliminary pricing for CPT code 81412 at $2,448 New clinical utility study published
Slide 24: Vectra Study on Minimally Important Difference
Vectra Study on Minimally Important Difference Important for Establishing Medical Management Tool on Test Report Copyright © 2018 Myriad Genetics, Inc., all rights reserved. www.Myriad.com.
Slide 25: Medicare Issues Favorable Draft LCD for myPath Melanoma
Medicare Issues Favorable Draft LCD for myPath Melanoma Creates Opportunity for myPath Melanoma Revenue in FY20 225 Sales Reps 80 Sales Reps Copyright © 2018 Myriad Genetics, Inc., all rights reserved. www.Myriad.com. Commercial Insurers 7 commercial insurers cover the test Medicare *Assumes favorab
Slide 26: AAD Issues Positive Guidelines for myPath Melanoma
AAD Issues Positive Guidelines for myPath Melanoma Important Step to Establish Broad Reimbursement Coverage Copyright © 2018 Myriad Genetics, Inc., all rights reserved. www.Myriad.com. myPath Melanoma is the only gene expression profiling test cited in the guidelines *Swetter et al – Journal of the
Slide 27: Worldwide Leader in Personalized Medicine
Worldwide Leader in Personalized Medicine We are entering the golden age for personalized medicine Molecular diagnostics are the keystone for improving patient outcomes while eliminating waste in healthcare spending Myriad is the pioneer of “research-based” and “education-centric” business model for