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Glancy Prongay & Murray LLP Announces Investigation on Behalf of Myriad Genetics, Inc. Investors


Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of Myriad Genetics, Inc. (“Myriad” or the “Company”) (NASDAQ: MYGN) investors concerning the Company and its officers’ possible violations of federal securities laws.

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On August 13, 2019, after the market closed, Myriad disclosed that “[u]nfortunately, revenue in the fourth quarter was two percent below expectations largely due to lower reimbursement for [the Company’s] expanded carrier screening test [called Foresight].” Additionally, the Company revealed that, since at least late 2018, the U.S. Food and Drug Administration (“FDA”) had increasingly questioned the claims of marketed genetics tests, such as Myriad’s GeneSight. Myriad also disclosed that “the FDA requested changes to the GeneSight test offering” after Myriad had provided the FDA with clinical evidence and other information to support GeneSight Psychotropic.

On this news, the Company’s stock price fell $19.05 per share, or nearly 43%, to close at $25.50 per share on August 14, 2019, thereby injuring investors.

If you purchased Myriad securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley F. Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20191004005463/en/