Who Owns Myriad Company?

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Who Owns Myriad Genetics?

Understanding Myriad Genetics' ownership is key to its strategic path in molecular diagnostics. Founded in 1991, the company is a leader in genetic testing and precision medicine.

Myriad Genetics, a pioneer in hereditary cancer testing, reported revenues of approximately $751.3 million in fiscal year 2024. Its ownership structure has evolved significantly since its 1995 IPO.

Who holds the reins at Myriad Genetics?

Myriad Genetics, Inc. was established in 1991 in Salt Lake City, Utah, by a group of scientific and business leaders. Key founders included Peter Meldrum, Dr. Mark Skolnick, Nobel Laureate Walter Gilbert, and Kevin Kimberlin. Meldrum, who later became President and CEO, brought prior leadership experience from Agridyne. Dr. Skolnick, an Adjunct Professor at the University of Utah, was recognized for his work on the RFLP gene mapping technique.

Founding Vision

The company was founded by a team of scientific and business visionaries. Their aim was to leverage genetic discoveries for commercial applications.

Early Funding

Initial research and commercialization efforts were supported by venture capital and strategic partnerships. The company's IPO in 1995 raised approximately $27 million.

BRCA Gene Discovery

A significant early achievement was the identification of the BRCA1/BRCA2 genes between 1994 and 1996. This led to the development of the BRACAnalysis test.

Patent Controversy

The company's patents on human genes, particularly BRCA, became a subject of major controversy. This culminated in a U.S. Supreme Court decision in 2013.

Supreme Court Ruling

The landmark ruling in Association for Molecular Pathology v. Myriad Genetics, Inc. invalidated key gene patents. This decision increased competition for its BRACAnalysis test.

Strategic Shift

The Supreme Court's decision necessitated a strategic diversification for the company. This was a direct response to the invalidated gene patents.

The early ownership structure of Myriad Genetics was shaped by its founding team and initial investors. Venture capital and strategic partnerships were crucial in its formative years, providing the capital necessary for research and development. The company's initial public offering in 1995 was a significant event, raising approximately $27 million and broadening its ownership base. This capital infusion was vital for advancing its groundbreaking work, particularly the identification of the BRCA1/BRCA2 genes and the subsequent launch of the BRACAnalysis test, which cemented its early market position. Understanding Mission, Vision & Core Values of Myriad provides context for the company's initial direction and the motivations of its founders and early stakeholders.

Early Milestones and Ownership Impact

The identification of the BRCA1/BRCA2 genes and the subsequent BRACAnalysis test were pivotal moments. These achievements significantly influenced the company's early trajectory and investor interest.

• Founded in 1991, Myriad Genetics began with a focus on genetic discoveries.
• Key founders included Peter Meldrum, Dr. Mark Skolnick, Walter Gilbert, and Kevin Kimberlin.
• The company's IPO in 1995 raised $27 million, impacting its ownership structure.
• The BRCA1/BRCA2 gene patents were central to its early business model and later legal challenges.
• The 2013 Supreme Court ruling on gene patents significantly altered the competitive landscape and necessitated strategic changes.

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Myriad Genetics, Inc. became a publicly traded entity through its Initial Public Offering (IPO) on NASDAQ in 1995, securing approximately $27 million. This capital infusion was designated for advancing its growth and research initiatives. The company's shares continue to be listed on the Nasdaq stock exchange under the ticker symbol MYGN as of the close of fiscal year 2024.

The ownership landscape of Myriad Genetics is heavily dominated by institutional investors, who collectively held 95.49% of the company's shares as of March 31, 2024. This significant institutional backing underscores the company's position in the market. As of August 19, 2025, approximately 480 institutional owners collectively managed 109,338,088 shares. In contrast, insider ownership, representing company executives and directors, constituted 3.65% as of January 2025. The strategic pivot following patent cliff challenges in 2013, which involved diversifying beyond hereditary cancer testing, has shaped Myriad's long-term strategy and governance structure, influencing its ownership dynamics.

Understanding Myriad Company's Ownership Structure

Myriad company ownership is primarily held by large financial institutions. Understanding who owns Myriad provides insight into its strategic direction and stability.

• Institutional investors control the vast majority of Myriad company stock.
• Key institutional holders include BlackRock, Vanguard, and State Street.
• Insider ownership represents a smaller but significant portion of Myriad company shareholders.
• The company's history, including its IPO in 1995, has shaped its current ownership.
• The implications of Myriad company's ownership can affect its business operations and Marketing Strategy of Myriad.

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The strategic direction and day-to-day operations of Myriad Genetics, Inc. are overseen by its executive leadership team and Board of Directors. As of early 2025, key figures include S. Louise Phanstiel as Chair of the Board, and Sam Raha, who became President and CEO on April 30, 2025. Other board members appointed in late 2024 and earlier include Mark S. Davis, Rashmi Kumar, Paul Bisaro, Lee Newcomer, Daniel Skovronsky, and Heiner Dreismann.

The company's governance structure generally adheres to a one-share-one-vote principle, which is standard for publicly traded entities on NASDAQ. There is no readily available information indicating the presence of dual-class shares or other special voting rights arrangements for specific individuals or entities. The Board of Directors is responsible for establishing high governance standards for all employees, officers, and directors, and the company has executed indemnification agreements with its directors and certain officers to protect them.

Understanding Myriad Company's Ownership and Governance

Myriad Genetics, Inc. operates under a standard corporate governance model. Understanding who owns Myriad is crucial for assessing its strategic direction and potential future changes.

• The company follows a one-share-one-vote system.
• Key leadership roles are held by the CEO and the Board of Directors.
• Indemnification agreements are in place for directors and officers.
• Recent board appointments reflect ongoing management evolution.
• For a deeper dive into the competitive environment, explore the Competitors Landscape of Myriad.

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Recent shifts in Myriad company ownership trends indicate a continued dominance by institutional investors, holding approximately 95.49% of shares as of March 2024. Despite this, the company's stock experienced a significant downturn, dropping nearly 80% by August 2025, reflecting broader financial challenges and strategic adjustments.

The company's financial performance has been a mixed bag over the past few years. Full-year 2024 revenue reached $838 million, an 11% increase from 2023, marking the second consecutive year of double-digit growth. However, the first quarter of 2025 saw a 3% year-over-year revenue decline to $196 million, largely due to reduced coverage of a key test by a major insurer. Despite this, the second quarter of 2025 showed a 1% revenue increase to $213.1 million, with hereditary cancer testing in oncology growing by 9%. The company has revised its full-year 2025 revenue guidance to $818-$828 million, while maintaining its adjusted EPS guidance. A significant GAAP net loss of $330.5 million was reported in Q2 2025, primarily due to non-cash impairment charges. To bolster its financial position, Myriad Genetics secured a new $200 million credit facility in July 2025. The company is strategically focusing on its Cancer Care Continuum, alongside continued growth in its Prenatal and GeneSight businesses, as detailed in this analysis of Revenue Streams & Business Model of Myriad.

Leadership Transitions

New leadership appointments in 2024 and 2025 signal a strategic realignment. Sam Raha assumed the CEO role in April 2025, with Ben Wheeler joining as CFO in August 2025.

Financial Performance Snapshot

While 2024 saw robust revenue growth, early 2025 presented challenges impacting revenue. The company is actively managing its financial flexibility with a new credit facility.

Ownership Structure

Institutional investors remain the primary Myriad company shareholders, holding the vast majority of shares. This indicates a stable, albeit potentially concentrated, ownership base.

Strategic Focus and Market Impact

The company is pivoting towards its Cancer Care Continuum, aiming for growth in key areas. Stock performance has been volatile, influenced by market conditions and company-specific factors.

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