Myriad Genetics, Inc. · NASDAQ:MYGN
Myriad Genetics — Q4 2019 Earnings Presentation
18 slides from Myriad Genetics's earnings presentation, Aug 13, 2019
Slide 1: Fiscal Fourth-Quarter 2019 Earnings Call
Myriad Genetics Fiscal Fourth-Quarter 2019 Earnings Call August 13, 2019 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 Year 2019 Highlights
Fiscal Year 2019 Highlights FINANCIALS SOLID HEREDITARY CANCER FOUNDATION DIVERSIFY WITH NEW PRODUCTS - Revenue of $851 and adjusted EPS of $1.67 up 14% and 18% respectively - Hereditary cancer revenue grows for first time in five years - New colon, pancreatic, breast & prostate guidelines add 160,0
Slide 4: Fiscal Year 2019 Highlights
Fiscal Year 2019 Highlights EXPAND REIMBURSEMENT INCREASE INTERNATIONAL REVENUE ELEVATE 2020 - GUIDED study published; GeneSight dossier submitted to all payers - UnitedHealth coverage decision for GeneSight - Launched employer and PBM channel – signed Kroger ® agreement - Completed publication supp
Slide 5: Financial Overview
Financial Overview
Slide 6: Fiscal Fourth-Quarter Revenue By Product
Fiscal Fourth-Quarter Revenue By Product Product 4Q19 3Q19 Seq. Growth Hereditary Cancer $119.0 $117.6 1% GeneSight $29.8 $29.6 1% Prenatal Testing $25.0 $30.6 (22%) Vectra® $12.2 $11.3 8% Prolaris® $6.3 $6.9 (9%) EndoPredict $3.0 $2.8 7% Other $1.6 $1.7 (6%) Total Molecular Diagnostic Revenue $196.
Slide 7: Fiscal Fourth-Quarter Financial Results
Fiscal Fourth-Quarter Financial Results GAAP Results Adjusted Results 4Q19 4Q18 YoY Growth 4Q19 4Q18 YoY Growth Total Revenue $215.4 $193.9 14% $215.4 $193.9 14% Gross Profit $164.8 $148.2 11% $165.4 $151.1 9% Gross Margin 76.5% 76.4% +10 bps 76.8% 77.9% -110 bps Operating Income ($5.6) $17.8 NM $33
Slide 8: FY20 and 1Q FY20 Financial Guidance
FY20 and 1Q FY20 Financial Guidance Metric Fiscal Year 2020 1Q FY20 Revenue $865-$875 million $200-$202 million GAAP Diluted EPS $0.55-$0.65 ($0.02)-$0.00 Adjusted EPS $1.80-$1.90 $0.30-$0.32
Slide 9: Potential Upside Drivers to Financial Guidance
Potential Upside Drivers to Financial Guidance Product 1H20 2H20 NCCN breast cancer guidelines U.S. CDx for pancreatic cancer Japan CDx for ovarian cancer U.S. CDx for prostate cancer Japan hereditary cancer Commercial payer coverage Employer/PBM coverage Medicare LCD expansion Expand sales force AC
Slide 10: Potential Market for GeneSight
Potential Market for GeneSight Psychotropic: $13B TAM Based upon $2,000 average selling price assumption. Depression Anxiety Psychiatry Primary Care $2.1B $2.8B $2.9B $4.8B $5.0B $7.6B $7.7B $4.9B = = = =
Slide 11: Key Clinical Evidence for GeneSight
Key Clinical Evidence for GeneSight Switching Analysis2 (Patients Entering GUIDED on Medications With Significant GDI) Precision Medicine Analysis1 (Patients Entering GUIDED on Medications With Any GDI) Outcomes at Week-8 24 Week Durability Data 1 Data on file 2 Greden et al, Journal of Psychiatric
Slide 12: Combinatorial Pharmacogenomics Superior to Single-Gene Testing
Combinatorial Pharmacogenomics Superior to Single-GeneTesting The GeneSight combinatorial approach was more than twice as predictive of serum blood levels when compared to single-gene testing1 6.5 (p=0.01) 7.5 (p=0.007) 1 Combinatorial Pharmacogenomic Algorithm is Predictive of Citalopram and Escita
Slide 13: UnitedHealthcare to Cover GeneSight
UnitedHealthcare to Cover GeneSight
Slide 14: Status of Coverage Decisions on GeneSight
Status of Coverage Decisions on GeneSight Payer/Tech Assessor Coverage Comments Medicare Yes Submitted dossier for coverage expansion to primary care CareFirst Yes All providers Kroger Yes Pharmacy intervention Fortune 50 Company Yes Coverage in 1Q20 UnitedHealthcare® Yes All providers Evidence Stre
Slide 15: Guideline Expansions in Hereditary Cancer
Guideline Expansions in Hereditary Cancer Cancer Type Expansion in Guidelines Number of New Patients Qualifying for Testing CDx Indication? Prostate Cancer All metastatic prostate cancer; all patients with a family history of breast cancer regardless of Gleason score +40,000 Expected in FY20 Pancrea
Slide 16: Positive Leading Indicators for Prenatal Market Growth
Positive Leading Indicators for Prenatal Market Growth 225 sales reps 80 sales reps 250 sales reps 85% market coverage A frictionless customer experience with Myriad Complete Trusted advisors with broad physician reach & comprehensive menu Differentiate products through pioneering science How we win
Slide 17: Expanding Clinical Utility for Vectra
Expanding Clinical Utility for Vectra Disease Activity Risk of Radiographic Progression Risk of Cardiovascular Events One test, three clinical answers which impact patient care
Slide 18: Myriad: The Investment Thesis
Precision medicine is entering a hyper-growth phase Molecular diagnostics are the keystone to improving patient outcomes and eliminating wasted spend Myriad is the global leader in this market Near-term catalysts can triple earnings Compelling investment opportunity Myriad: The Investment Thesis