Myriad Genetics Discloses Unauthorized Access and Temporarily Suspends Testing on November 2
Key Facts
Myriad Genetics said it detected unauthorized access to its information technology network environment on November 2, 2026, and began responding to the incident to contain the activity and investigate its nature and scope. The measures included temporarily suspending testing operations and order management systems, as well as resetting credentials for some systems. In a Form 8-K filing with the U.S. Securities and Exchange Commission, the company said the full scope of access remained under investigation. This includes assessing whether patient records stored on systems containing their information were accessed. The company brought in outside experts to assist with the investigation and did not provide a final account in the filing of what the incident affected.
As of the date of the report, Myriad said it did not believe the incident would have a material adverse effect on its business. That assessment comes as the company continues to evaluate the scope of access, including the possibility that patient records were accessed. The filing indicates that suspending testing and order management systems was part of measures to contain the activity and address the incident. The company also reset credentials for some systems as part of its response. The filing did not specify when the investigation would be completed or provide a financial estimate of the costs of addressing the incident.
In the context of its recent operating results, the company said average revenue per test rose 7% from the second quarter and 1% year over year in the third quarter of 2026. It attributed the improvement to a higher contribution from its oncology pathway products, progress in payer engagement, and revenue cycle management initiatives. The increase in the average came despite test volumes falling 1% quarter over quarter and 2% year over year. Chief Executive Sam Raha said third-quarter results exceeded the company's expectations and that average revenue per test in the oncology business improved compared with the second quarter. Raha linked this to progress in payer engagement and revenue cycle management initiatives.
By segment, oncology revenue was $123.9 million in the third quarter, up 1% year over year. By contrast, prenatal health revenue fell 12% year over year to $39.3 million. The company posted a net loss of $43.9 million in the third quarter of 2026, compared with a loss of $27.4 million in the same period of 2025. These results put the cybersecurity incident in a period when the company reported an improvement in average revenue per test, while test volumes continued to decline. The company did not link these financial results to the security incident in its filing about the event.
Myriad raised the midpoint of its fiscal 2026 revenue outlook, setting a range of $780 million to $790 million. The company said the outlook reflects third-quarter results and current business trends. The updated range follows Raha's description of quarterly results as exceeding the company's expectations, with reference to the performance of the oncology business and its commercial initiatives. The outlook announcement did not specify any financial impact from the security incident on the new range. In its incident filing, the company maintained its assessment that the event would not have a material adverse effect on the business, according to what it had stated as of the report date.