Myriad Genetics, Inc. · NASDAQ:MYGN
Myriad Genetics — Q2 FY2019 Earnings Presentation
19 slides from Myriad Genetics's earnings presentation, Feb 5, 2019
Slide 1: Fiscal Second-Quarter 2019 Earnings Call
Myriad Genetics Fiscal Second-Quarter 2019 Earnings Call February 5, 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 Second-Quarter Financial Results
Fiscal Year 2019 Second-Quarter Financial Results 2Q19 Actual Results 2Q18 Actual Results YoY Change Revenue (in mil.) $216.8 $187.9 15% GAAP EPS $0.03 $0.43 (92%) Adjusted EPS $0.38 $0.36 6% Organic Adjusted EPS* $0.46 $0.36 28% *Excludes $0.08 of dilution from the Counsyl acquisition in the fiscal
Slide 4: Critical Success Factors to Achieve Strategic Goals
Critical Success Factors to Achieve Strategic Goals Expand reimbursement coverage for new products Build upon solid hereditary cancer foundation Increase RNA kit revenue internationally Improve profitability with Elevate 2020 STRATEGIC GOALS >10% REVENUE GROWTH 7 PRODUCTS >$50M >10% INT’L REVENUE >3
Slide 5: Hereditary Cancer Revenue Returns to Growth for First Time Since FY14
Hereditary Cancer Revenue Returns to Growth for First Time Since FY14 Solid Foundation in Hereditary Cancer Market * ASC606 Revenue Growing Volume Market less than 10% penetrated 7% CAGR since FY13 8 sequential quarters with YoY growth New indications added 175,000 eligible patients in the U.S. and
Slide 6: Record Test Volume in Fiscal Second-Quarter
Record Test Volume in Fiscal Second-Quarter New Products Represent 75% of >1M Test Run Rate FY13 2Q19 Annualized Run Rate 180,000 Tests > 1 Million Tests 99% 25%
Slide 7: Markets Remain Highly Underpenetrated
Markets Remain Highly Underpenetrated Three Pillars of Prenatal Market Success A frictionless customer experience with Myriad Complete Trusted Advisors with broad physician reach and comprehensive menu Differentiate products through pioneering science
Slide 8: Best Physician and Patient Workflow Solution in the Industry
Best Physician and Patient Workflow Solution in the Industry Myriad Complete is a Key Competitive Differentiator
Slide 9: GUIDED Endpoints Analysis
Based Upon Week 8 HAM-D17 Scores GUIDED EndPoints Analysis Patients Remission Rate Response Rate Symptom Improvement All Patients 1,298 +47% p=0.005 +32% p=0.007 +14% p=0.069 Mildly Depressed Patients Excluded 1,167 +50% p=0.007 +30% p=0.013 +12% p=0.107 Green Exclusion (Patients entering on green m
Slide 10: Only Test To Answer the Three Critical Questions
Only Test To Answer the Three Critical Questions of Prognosis, Chemotherapy Benefit, and Extended Endocrine Benefit EndoPredict ® – One Test Three Clinical Answers Outperformed market leading test in TransATAC study Large clinical validation presented at the San Antonio Breast Cancer Symposium suppo
Slide 11: EndoPredict High Risk Patients Receive Statistically Significant Benefit From Chemotherapy
EndoPredict High Risk Patients Receive Statistically Significant Benefit From Chemotherapy EndoPredict Predictive of Chemotherapy Benefit Endocrine Therapy Alone Endocrine Therapy + Chemotherapy
Slide 12: Low Risk EndoPredict Patients Have Substantially Lower Risk of Distant Recurrence
Low Risk EndoPredict Patients Have Substantially Lower Risk of Distant Recurrence EndoPredict Can Guide Extended Endocrine Therapy Decision Rate of Distant Recurrence HR=4.77 p=0.0001 HR=4.52 p=0.0001
Slide 13: Key Catalysts in FY19
Key Catalysts in FY19 Steady International Growth PRODUCT REVENUE (IN MIL.) Near-Term Growth Drivers Approval for BRACAnalysis CDx in metastatic BC in Japan Filed for Japanese regulatory approval for BRACAnalysis CDx in first-line ovarian cancer Filed for Japanese regulatory approval for hereditary
Slide 14: Adjusted Operating Margins Increase Since Inception of Elevate 2020
Adjusted Operating Margins (OM) Increase 460 BP Since Inception of Elevate 2020 Excluding Counsyl Meaningful Profitability Improvement Through Elevate 2020 Elevate 2020 Progress All business units except Dermatology now profitable Operating margins have increased 460 bp since inception of the progra
Slide 15: Financial Overview
Financial Overview
Slide 16: FY 2019 Second-Quarter Revenue By Product
FY 2019 Second-Quarter Revenue By Product Product 2Q19 2Q18 YoY Growth Hereditary Cancer $126.7 $122.2 4% GeneSight $24.0 $31.7 (24%) Prenatal Testing $31.2 - NM Vectra $11.8 $11.1 6% Prolaris $6.1 $4.2 45% EndoPredict $2.2 $2.0 10% Other $1.0 $1.9 (47%) Total Molecular Diagnostic Revenue $203.0 $17
Slide 17: Fiscal Second-Quarter Financial Results
Fiscal Second-Quarter Financial Results GAAP Results Adjusted Results 2Q19 2Q18 YoY Growth 2Q19 2Q18 YoY Growth Total Revenue $216.8 $187.9 15% $216.8 $187.9 15% Gross Profit $164.7 $143.5 15% $165.4 $143.7 15% Gross Margin 76.0% 76.4% -40 bps 76.3% 76.5% -20 bps Operating Income $6.1 $6.3 (3%) $37.
Slide 18: FY19 and 3Q FY19 Financial Guidance
FY19 and 3Q FY19 Financial Guidance Metric Fiscal Year 2019 3Q19 Revenue $855 to $865 million $216 to $218 million GAAP Diluted EPS $0.40 to $0.45 $0.12 to $0.14 Adjusted EPS $1.70 to $1.75 $0.42 to $0.44
Slide 19: Peter D. Meldrum (1947-2018)
Peter D. Meldrum (1947-2018)