Kirby McInerney LLP announced an investigation into potential securities fraud claims against Myriad Genetics. The investigation concerns whether the company or its senior management violated federal securities laws. On July 30, 2026, Myriad Genetics reported an 11% year-over-year decline in second-quarter revenue to $190.7 million and a 9% drop in average revenue per test, while reducing full-year 2026 revenue guidance to $770 to $790 million and revealing an $11 million revenue reduction from changes in collection estimates. Hereditary cancer testing revenue fell 13% despite an 8% volume increase, which management attributed to lower reimbursement and unfavorable estimate changes, and acknowledged that earlier engagement with payers could have reduced the downstream impact. Following the news, Myriad's stock price fell 47% to close at $2.86 on July 31, 2026.
Myriad Genetics IncQ2 revenue decline, guidance cut, and revenue estimate changes trigger securities fraud investigation and 47% stock drop.
