secwatch.observer — SEC 8-K summary
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Issuer:     MYRIAD GENETICS INC (MYGN)
CIK:        0000899923
Form:       8-K
Filed at:   2023-08-03T23:59:59+00:00
Accession:  0000899923-23-000052
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Myriad Genetics Q2 revenue $183.5M, settles securities class action for $77.5M
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- Q2 revenue $183.5M, up 2% YoY; diluted GAAP EPS $(1.42), adjusted EPS $(0.08).
- Test volume grew 38% YoY (17% ex-SneakPeek); hereditary cancer volume up 20% YoY.
- Agreed to settle securities class action for $77.5M: $20M cash in Q3 2023, remainder in cash or stock by Q1 2024.
- Reaffirmed FY2023 revenue guidance $730-750M; adjusted EPS loss $(0.36)-(0.24); targeting positive adjusted profitability in Q4.
- Established new $90M asset-based credit facility (option to $115M); ended Q2 with $127.8M cash.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/899923/000089992323000052/0000899923-23-000052-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/899923/000089992323000052/mygn-20230803.htm
  HTML page:      https://secwatch.observer/filing/0000899923-23-000052

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer