|
|
|
|
Document Preview For Immediate Release |
||||
|
|
||||
|
Click "Add to Cart" button to purchase document. |
||||
|
|
||||
|
Title: |
For Immediate Release |
|||
|
Entities: |
||||
|
Date: |
2004 |
|||
|
Size: |
8KB total |
|||
|
Price: |
$32 |
|||
|
ID: |
#309117 |
|||
|
|
||||
|
||||
|
|
||||
|
Start of Preview |
||||
Contact:
William A. Hockett
Vice President of Corporate Communications
(801) 584-3600
email: bhockett@myriad.com
FOR IMMEDIATE RELEASE
Myriad Genetics Reports Financial Results For Fiscal 2004
-Record Product Sales, Strong Margins and New Product Advances Mark Year-
Salt Lake City, August 18, 2004, Myriad Genetics, Inc. (Nasdaq: MYGN) today reported financial results for its fourth quarter and fiscal year ended June 30, 2004.
Predictive medicine revenues for the year ended June 30, 2004, increased to a record $43.3 million from $34.7 million for fiscal 2003, an increase of 25%. Fourth quarter predictive medicine revenues were up 40% over the fourth quarter of fiscal 2003 to $13.1 million, from $9.4 million. This increase was due primarily to growth in the Companys lead predictive medicine product, BRACAnalysis, for breast and ovarian cancer and its COLARIS family of products for colorectal cancer. The gross profit margin on predictive medicine revenues rose to 68% for fiscal 2004, up from 64% in 2003, and the gross margin for the fourth quarter of fiscal 2004, ended June 30, 2004 was 71%. Myriad has maintained a strong cash position, and as of June 30, 2004, the Company had approximately $142 million in cash, cash equivalents and marketable investments. The company has no debt and no convertible securities.
Therapeutic product development continues to be a high priority, said Peter Meldrum, President and Chief Executive Officer of Myriad Genetics, Inc.
Substantial progress was made in our product pipeline, including the advancement of our lead investigative drug, Flurizan for Alzheimers disease.
|
End of Preview |
Home Intelligence Services Subscriptions News About Us