Molecular Diagnostic Stock Myriad Genetics (NASDAQ: MYGN) Gains On News Of Selling Prenatal Health Testing Business

(MENAFN- Investor Ideas) ) a trusted platform for investing ideas, including biotech and medical tech stocks, issues a news and trading alert for Myriad Genetics, Inc. (NASDAQ: MYGN ), a leader in molecular diagnostic testing and precision medicine.

Myriad Genetics stock is soaring on news today, currently trading at $5.77 +1.55 (+36.94%) on volume of over 18 Million shares as of this report. The stock has a morning high of $5.95 following news today.

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Myriad Genetics, Inc. (NASDAQ: MYGN), and Labcorp (NYSE: LH), a global leader in innovative and comprehensive laboratory services, today announce they have entered into a definitive agreement for Myriad to sell its Prenatal Health testing business, which includes the Prequel(R), Foresight(R), SneakPeek(R), and FirstGene(R) tests, to Labcorp for $210 million in cash, plus the value of the inventory of the Prenatal Health testing business at closing.

When complete, the transaction is expected to provide more patients and physicians with expanded access to Labcorp's comprehensive, high-quality laboratory services, convenient patient service center network, robust data analytics and digital tools.

Labcorp expects the transaction to add approximately $160 million in revenue in year one, to be slightly accretive to adjusted earnings in year one, and to reach average diagnostics segment margins by end of year two, once fully integrated.

Over the last twelve months, Myriad's Prenatal Health testing portfolio has been used by thousands of providers and over 600,000 patients. Myriad plans to provide further commentary regarding this transaction, and other related organizational changes, on its third quarter earnings call on November 4, 2026.

The deal is subject to regulatory clearance and customary closing conditions, and the transaction is expected to close by early 2027.

Guggenheim Securities, LLC is acting as exclusive financial advisor, and Covington & Burlington LLP is acting as legal advisor to Myriad Genetics.

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