This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Myriad Genetics' CEO Discusses F1Q12 Results - Earnings Call Transcript

Stocks in this article: MYGN

With that, I’ll now turn the call over to Pete.

Pete Meldrum

Thank you , Rebecca. Myriad’s strategy is to become a leader in the commercialization of transformative molecular diagnostic tests that save lives and improve the quality of life for patients with chronic diseases. In an effort to implement this strategy we are focusing on three strategic directives: one, to grow existing tests and markets; two, to develop an international presence; and three, to launch new tests – both as a result of investment in in-house research and development and through the acquisition of new test and technologies which expand our disease focus. We believe the successful implementation of these directives will position Myriad as an international molecular diagnostic leader with transformative tests across all disease indications.

Today I will discuss the company’s key initiatives to introduce new tests and to expand internationally, each of which I believe will move us closer toward achieving our goal. Mark will provide an update on our first strategic directive to grow our existing tests and markets. In September, Myriad announced a significant deal with Crescendo Biosciences, a molecular diagnostic company focused on autoimmune and inflammatory diseases. Myriad loaned Crescendo $25 million and secured an exclusive three-year option to acquire all of their outstanding shares at a predetermined formula price based on Crescendo’s revenues and growth rate at the time the option is exercised.

The loan is secured by Crescendo’s intellectual property rights in the United States and carries an interest rate of 6% with interest payable annually. If Crescendo is successful with its commercial plans and Myriad exercises its option to acquire Crescendo, the loan will be applied to the purchase price. If Myriad decides against the acquisition the loan is payable at the end of the six-year term. We believe this transaction is an attractive, low-risk strategy to position Myriad in the autoimmune and inflammatory disease markets.

2 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs