Myriad Genetics, Inc. · NASDAQ:MYGN
Myriad Genetics — Q3 2020 Earnings Presentation
17 slides from Myriad Genetics's earnings presentation, Nov 9, 2020
Slide 1: Myriad Genetics Quarterly Report Ending September 2020
Myriad Genetics Quarterly Report Ending September 2020 November 9, 2020
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: Our Mission and Opportunity
Myriad Genetics OUR MISSION AND OPPORTUNITY Our purpose-driven mission to transform and “ improve lives is more relevant than ever. We have a strong, compelling market opportunity as a leader in genetics and molecular diagnostics. But the market is changing faster than we are. We must transform to w
Slide 4: Advancing our mission in large and growing markets
Advancing our mission in large and growing markets Women’s Health Oncology Mental Health • >11M new patients diagnosed • 166M women in U.S. • 1.7M new patients diagnosed annually with 15M affected annually with >40M affected • Demand for services growing • $201B in U.S. healthcare spending 6% per ye
Slide 5: A Powerful Thesis for Transformation
A Powerful Thesis for Transformation • Large, growing market opportunity - $10B+ • Economics of molecular diagnostics support sustainable, profitable growth • Respected portfolio, scientific know-how and reach • Opportunities to elevate our products to full potential • Need to reset our competitive
Slide 6: Transformation phases and objectives
Transformation phases and objectives H2 2020 2021 2022 BUILD CULTURE OF SERVICE EXCELLENCE, PRIORITIZE INNOVATION, REDUCE COMPLEXITY PHASE I: RESET THE BASE • Continue COVID volume recovery and execute on near-term opportunities • Prioritize product innovation, research and technology initiatives PH
Slide 7: Four-point strategic roadmap
Four-point strategic roadmap 1 Put patients and customers first Build new commercial Create new avenues of 3 Elevate core products to full 4 2 capabilities potential growth • Convey our unique value • Increase awareness and access • Explore and assess proposition • Bolster differentiation with messa
Slide 8: Better serving patients and providers – IT enabled
Better serving patients and providers – IT enabled Education Telehealth Access Portal MyGeneHistory - Risk 30% of GeneSight sample kits Transparent, personalized out Patient and provider portals assessment at home or in shipped direct to patients, of pocket cost estimates. for results delivery and o
Slide 9: Driving digital engagement and conversion
Driving digital engagement and conversion Myriad.com Hereditary Cancer Quiz Enhancing the experience Driving follow through Patient Interest 993,497 Lead Order Quiz Completions 517,489 Criteria Qualifications 289,839 Checking on Next Steps 100,009 Sample Submissions 4,858 GROWTH OPPORTUNITY 2.8% who
Slide 10: September 2020 Quarter - sequential volume increases
September 2020 Quarter - sequential volume increases Product Sequential Increase in Test Volume Hereditary Cancer 78% GeneSight 61% Significant Prequel 5% recovery in ForeSight 14% test volume Vectra 53% Prolaris 30% Total Test Volume 40% ©2020 Myriad Genetics, Inc. All rights reserved.. www.Myriad.
Slide 11: September 2020 Quarter - revenue by product
September 2020 Quarter - revenue by product Three Months Ended September 30 2020 2019 Volume ASP (in millions) WH ONC MH AI Other Total WH ONC MH AI Other Total % Change Change Change Molecular diagnostic testing revenue Hereditary Cancer $39.2 $41.4 - - - $80.6 $60.4 $44.1 - - $0.0 $104.5 (23%) (21
Slide 12: September 2020 Quarter - income statement
September 2020 Quarter - income statement Myriad Genetics Income Statement GAAP Results Adjusted Results (in millions, except share data) Fiscal Year Ends Jun. 30 Sep-20 Sep-20 Total Revenues $145.2 $145.2 Cost of Goods Sold 44.2 43.9 Gross Profit 101.0 101.3 Operating Expenses Research and Developm
Slide 13: Reducing expenses, reinvesting in growth
Reducing expenses, reinvesting in growth $40M $20M STRATEGIC ANNUALIZED SAVINGS INVESTMENTS ©2020 Myriad Genetics, Inc. All rights reserved.. www.Myriad.com 1313
Slide 14: Accelerating momentum
Accelerating momentum Women’s Health Oncology Mental Health • American College of Obstetricians • German Federal Joint Committee • GeneSight Local Coverage & Gynecologists - average risk non- (G-BA) EndoPredict coverage Determination (LCD) expands invasive pre-natal screening coverage Recent • Expan
Slide 15: Corporate governance improvements
Corporate governance improvements Board Refresh Executive Compensation Calendar YearCalendar Year Moved from fiscal to calendar year 2/3 of board members new at end of Aligned to performance, shareholder interests Dec. annual meeting 70% of bonus payout for VP and above January through December 44%
Slide 16: Unlocking the power of genetics to improve and transform lives
Myriad Genetics Unlocking the power of genetics to improve and transform lives 16
Slide 17: Q & A
Myriad Genetics Q & A 1717