Myriad Genetics, Inc. · NASDAQ:MYGN
Myriad Genetics — Q2 FY2020 Earnings Presentation
18 slides from Myriad Genetics's earnings presentation, Feb 6, 2020
Slide 1: Myriad Genetics Fiscal Second-Quarter 2020 Earnings Call
Myriad Genetics Fiscal Second-Quarter 2020 Earnings Call February 6, 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 Second-Quarter 2020 Financial Results
Fiscal Second-Quarter 2020 Financial Results 2Q20 Actual Results 2Q19 Actual Results Revenue (in mil.) $195.1 $216.8 GAAP EPS ($0.11) $0.03 Adjusted EPS $0.23 $0.38
Slide 4: Financial Overview
Financial Overview
Slide 5: Fiscal Second-Quarter 2020 Revenue By Product
Fiscal Second-Quarter 2020 Revenue By Product Product 2Q20 2Q19 YoY Growth Hereditary Cancer $117.7 $126.7 (7%) GeneSight® $22.5 $24.0 (6%) Prenatal Testing $16.4 $31.2 (47%) Vectra® $10.3 $11.8 (13%) Prolaris® $6.8 $6.1 12% EndoPredict® $2.6 $2.2 18% Other $4.8 $1.0 380% Total Molecular Diagnostic
Slide 6: Fiscal Second-Quarter 2020 Financial Results
Fiscal Second-Quarter 2020 Financial Results GAAP Results Adjusted Results 2Q20 2Q19 YoY Growth 2Q20 1Q19 YoY Growth Total Revenue $195.1 $216.8 (10%) $195.1 $216.8 (10%) Gross Profit $145.5 $164.7 (12%) $145.9 $165.4 (12%) Gross Margin 74.6% 76.0% -140 bps 74.8% 76.3% -150 bps Operating Income ($8.
Slide 7: FY20 and 3Q FY20 Financial Guidance
FY20 and 3Q FY20 Financial Guidance Metric Fiscal Year 2020 3Q FY20 Revenue $735 million $172 million GAAP Diluted EPS ($0.80) ($0.30) Adjusted EPS $0.45 $0.02
Slide 8: Near-Term Business Catalysts
Near-Term, Business Catalysts Product Catalyst Revenue Impact EPS Impact Medicare LCD expansion to primary care (impact on current test volume) $30M $0.30 Medicare LCD expansion to non-favorable intermediate and high-risk patients (impact on current test volume) $19M $0.19 Recapture revenue from pri
Slide 9: New Products Represent a $15B Market Opportunity
New Products Represent a $15B Market Opportunity $5B Reimbursed Addressable Market (RAM) $10B Additional Insurance Coverage Market Penetration U.S. TAM (in $B) $0.3B
Slide 10: Publication of the Precision Medicine Analysis from GUIDED Outcomes at Week-8
Publication of the Precision Medicine Analysis from GUIDED Outcomes at Week-8 1 Thase et al: Impact of pharmacogenomics on clinical outcomes for patients taking medications with gene-drug interactions in a randomized, controlled trial 70% 42% 23% Study Arm: TAU (n=430) GeneSight Guided (n=357)
Slide 11: Publication of HAM-D6 Data from GUIDED Outcomes at Week-8
Publication of HAM-D6 Data from GUIDED Outcomes at Week-8 1 Greden JF, Parikh SV, Rothschild AJ, et al. Impact of pharmacogenomics on clinical outcomes in major depressive disorder in the GUIDED trial: A large, patient- and rater-blinded, randomized, controlled study. J Psychiatry Res. 2019; 111:59-
Slide 12: Expanding Sales Team to Target $1.5B Primary Care Market
Expanding Sales Team to Target $1.5B Primary Care Market 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
Slide 13: riskScore Significantly Modifies Risk in Mutation Carriers
riskScore® Significantly Modifies Risk in Mutation Carriers Presentation at San Antonio Breast Cancer Symposium: “Polygenic Breast Cancer Risk Modification in Carriers of High and Intermediate Risk Gene Mutations”
Slide 14: 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
Slide 15: myChoice CDx Effectively Identified Responders to Olaparib
myChoice CDx Effectively Identified Responders to Olaparib * Ray-Coquard et al; Olaparib Plus Bevacizumab as First-Line Maintenance in Ovarian Cancer; The New England Journal of Medicine December 2019 Progression Free Survival (Months)
Slide 16: Opportunities with myChoice CDx
Opportunities with myChoice CDx Indication/Drug Incident Population* Launch Timing 4th Line Ovarian Cancer U.S. 15,000 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 17: Prequel is the Most Accurate NIPS Test in Women With High BMI
Prequel® is the Most Accurate NIPS Test in Women With High BMI Source: Muzzey et al: Noninvasive prenatal screening for patients with high body mass index: Evaluating the impact of a customized whole genome sequencing workflow on sensitivity and residual risk No call rate of up to 24% in high BMI wo
Slide 18: Expanded Prolaris Medicare Coverage Increases Coverage to ≈75%
Expanded Prolaris Medicare Coverage Increases Coverage to ≈75% 225 Sales Reps 80 Sales Reps Commercial Insurers Medicare Low & Favorable Intermediate Medicare High & Non- Favorable Intermediate