Myriad Genetics, Inc. · NASDAQ:MYGN
Myriad Genetics — Q3 2020 Earnings Presentation
15 slides from Myriad Genetics's earnings presentation, May 5, 2020
Slide 1: Myriad Genetics Fiscal Third-Quarter 2020 Earnings Call
Myriad Genetics Fiscal Third-Quarter 2020 Earnings Call May 5, 2020 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: Fiscal Third-Quarter 2020 Financial Results
Fiscal Third-Quarter 2020 Financial Results 3Q20 Actual Results Impact of Coronavirus on 3Q20 Results 3Q19 Actual Results Revenue (in mil.) $164.0 ≈$18.0 $216.6 GAAP EPS ($1.55) ≈$0.13 $0.09 Adjusted EPS ($0.08) ≈$0.13 $0.46
Slide 4: Test Volume Trends
Test Volume Trends Test Volume First 10 Weeks of 3Q20: GeneSight +4% Seq. Prenatal +12% Seq. Vectra +10% Seq. HC Volume Above Forecast
Slide 5: Myriad Response – Focus on Employee & Customer Safety
Myriad Response – Focus on Employee & Customer Safety While Ensuring Business Continuity and Future Recovery Sales & Marketing Virtual sales calls including virtual learning videos and meeting programs Direct-to-patient kit shipments Laboratory Implemented policies consistent with CDC and local guid
Slide 6: Financial Overview
Financial Overview
Slide 7: Fiscal Third-Quarter 2020 Revenue By Product
Fiscal Third-Quarter 2020 Revenue By Product Product 3Q20 3Q19 YoY Growth Test Volume Growth ASP Change Hereditary Cancer $85.2 $117.6 (28%) (4%) (25%) GeneSight® $20.4 $29.6 (31%) (33%) 2% Prenatal Testing $20.3 $30.6 (34%) 0% (34%) Vectra® $10.5 $11.3 (7%) (6%) (2%) Prolaris® $6.8 $6.9 (1%) 9% (10
Slide 8: Fiscal Third-Quarter 2020 Financial Results
Fiscal Third-Quarter 2020 Financial Results GAAP Results Adjusted Results 3Q20 3Q19 YoY Growth 3Q20 3Q19 YoY Growth Total Revenue $164.0 $216.6 (24%) $164.0 $216.6 (24%) Gross Profit $113.9 $168.0 (32%) $114.3 $168.6 (12%) Gross Margin 69.5% 77.6% -810 bps 69.7% 77.8% -810 bps Operating Income ($133
Slide 9: 4Q20 Business Outlook
4Q20 Business Outlook Test Volume Trends: Test Volume Change in April (70%) – (75%) (40%) – (45%) (20%) – (25%) Targeting $50 million reduction in expenses relative to 3Q20 run rate
Slide 10: Medicare LCD Expansion for GeneSight
Medicare LCD Expansion for GeneSight 31M patients on antidepressants 2.5M cases of TRD per year 60% seen by primary care 40% seen by psychiatrists Plans to add 65 new sales reps beginning in 4Q20 2.5M+ new cases of GAD per year Potential to increase addressable population >4x
Slide 11: GeneSight Meta-Analysis from Four Major Studies
GeneSight Meta-Analysis from Four Major Studies Improvement in Outcomes at Week-8 or Week-10 Meta-Analysis from Four Major Studies (1,556 Patients) p=0.019 p=0.005 p<0.001
Slide 12: Prolaris Predicts Which Men Will Benefit From Multi-Modality Therapy
Prolaris Predicts Which Men Will Benefit From Multi-Modality Therapy 70% 42% 23% Study Arm: TAU (n=430) GeneSight Guided (n=357) Score 2.112 Men above the threshold see a statistically significant benefit from multi-modality therapy Men below the threshold see no benefit from multi-modality therapy
Slide 13: NCCN Guidelines Recommend Prolaris for Unfavorable Intermediate and High-Risk Patients
NCCN Guidelines Recommend Prolaris for Unfavorable Intermediate and High-Risk Patients 70% 42% 23% Study Arm: TAU (n=430) GeneSight Guided (n=357)
Slide 14: Opportunities with myChoice CDx
Opportunities with myChoice CDx Indication/Drug Incident Population* Launch Timing 4th Line Ovarian Cancer U.S. 20,000 patients Approved Ovarian Cancer Japan 9,000 patients FY21 1st Line Ovarian Cancer (olaparib, niraparib, veliparib) U.S & Europe 50,000 patients In discussions with regulators and c
Slide 15: Opportunities for BRACAnalysis CDx With PARP Inhibitors
Opportunities for BRACAnalysis CDx With PARP Inhibitors Cancer Type Incident Population* Launch Timing Pancreatic Cancer (POLO study) 57,000 Launched Castrate Resistant Metastatic Prostate Cancer (PROfound) 32,000 2H FY20 Adjuvant HER2- Breast Cancer (OlympiA Study) 198,000 FY21 (If successful) * ca