Myriad Genetics Chief Financial Officer Bryan Riggsbee Retires; Scott Leffler Appointed as Successor; Reiterates Previously Issued Financial Guidance
21 Diciembre 2023 - 7:30AM
Myriad Genetics, Inc., (NASDAQ: MYGN), a leader in genetic testing
and precision medicine, today announced the appointment of Scott
Leffler as Chief Financial Officer (CFO), effective January 29,
2024. Leffler will succeed Myriad CFO Bryan Riggsbee who is
retiring. Riggsbee will continue as a strategic advisor through
March 31, 2024, to ensure a smooth transition.
Riggsbee joined Myriad in 2014 as CFO. During his nine-year
tenure, he has made significant contributions to Myriad’s growth
strategy and business transformation. In 2020, he served for six
months as Myriad’s interim CEO, navigating the business and
supporting teammates through the height of the pandemic.
“I want to extend my gratitude to Bryan for his leadership and
the key role he has played in shaping our business over the past
nine years,” said Paul J. Diaz, president and CEO, Myriad Genetics.
“His vision and financial acumen were critical components to the
successful execution of our transformation plan and bringing focus
to our three core business units. We thank him for setting the
stage for business success and wish him all the best in his next
chapter.”
Leffler brings to Myriad nearly 20 years of finance experience,
across a broad range of healthcare and payer market segments at
both public and private equity-backed companies. Leffler has held
numerous financial leadership positions and brings expertise in
finance transformation, acquisitions and integrations, as well as
risk management. In his role as CFO, he is responsible for leading
the company’s financial team and strategy to support the
advancement of Myriad’s long-term growth and profitability.
“We are pleased to welcome Scott to Myriad. He is a thoughtful
and focused leader who has a proven track record of financial
leadership, strategy and execution resulting in notable business
growth,” said Diaz. “With his strategic vision, analytical
curiosity and industry expertise, Scott will play an important role
in building on our business foundation to accelerate profitability,
financial performance and innovation.”
Leffler previously served as the CFO of Clover Health. Prior to
Clover Health, he was CFO and Treasurer at Sotera Health. He earned
his B.A. in economics and history from Yale University and an
M.B.A. from Emory University.
At its third quarter 2023 earnings call on November 6, Myriad
updated its 2023 financial guidance and introduced 2024 revenue
guidance. Myriad reiterates the guidance provided at that time.
About Myriad GeneticsMyriad Genetics is a
leading genetic testing and precision medicine company dedicated to
advancing health and well-being for all. Myriad develops and offers
genetic tests that help assess the risk of developing disease or
disease progression and guide treatment decisions across medical
specialties where genetic insights can significantly improve
patient care and lower healthcare costs. For more information,
visit www.myriad.com.
Safe Harbor StatementThis press release
contains “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995, including
statements concerning 2023 financial guidance and 2024 revenue
guidance. These “forward-looking statements” are management’s
present expectations of future events as of the date hereof and are
subject to a number of known and unknown risks and uncertainties
that could cause actual results, conditions, and events to differ
materially and adversely from those anticipated. These risks
include, but are not limited to: the risk that sales and profit
margins of the company’s existing tests may decline or that the
company may not be able to operate its business on a profitable
basis; risks related to the company’s ability to achieve certain
revenue growth targets and generate sufficient revenue from its
existing product portfolio or in launching and commercializing new
tests to be profitable; risks related to changes in governmental or
private insurers’ coverage and reimbursement levels for the
company’s tests or the company’s ability to obtain reimbursement
for its new tests at comparable levels to its existing tests; risks
related to increased competition and the development of new
competing tests; the risk that the company may be unable to develop
or achieve commercial success for additional tests in a timely
manner, or at all; the risk that the company may not successfully
develop new markets or channels for its tests, including the
company’s ability to successfully generate substantial revenue
outside the United States; the risk that licenses to the technology
underlying the company’s tests and any future tests are terminated
or cannot be maintained on satisfactory terms; risks related to
delays or other problems with constructing and operating the
company’s laboratory testing facilities; risks related to public
concern over genetic testing in general or the company’s tests in
particular; risks related to regulatory requirements or enforcement
in the United States and foreign countries and changes in the
structure of the healthcare system or healthcare payment systems;
risks related to the company’s ability to obtain new corporate
collaborations or licenses and acquire or develop new technologies
or businesses on satisfactory terms, if at all; risks related to
the company’s ability to successfully integrate and derive benefits
from any technologies or businesses that it licenses, acquires or
develops; the risk that the company is not able to secure
additional financing to fund its business, if needed, in a timely
manner or on favorable terms, if it all; risks related to the
company’s projections or estimates about the potential market
opportunity for the company’s current and future products; the risk
that the company or its licensors may be unable to protect or that
third parties will infringe the proprietary technologies underlying
the company’s tests; the risk of patent-infringement claims or
challenges to the validity of the company’s patents; risks related
to changes in intellectual property laws covering the company’s
tests, or patents or enforcement, in the United States and foreign
countries; risks related to security breaches, loss of data and
other disruptions, including from cyberattacks; risks of new,
changing and competitive technologies in the United States and
internationally and that the company may not be able to keep pace
with the rapid technology changes in its industry, or properly
leverage new technologies to achieve or sustain competitive
advantages in its products; the risk that the company may be unable
to comply with financial operating covenants under the company’s
credit or lending agreements; risks related to the company’s
inability to achieve and maintain effective disclosure controls and
procedures and internal control over financial reporting; risks
related to current and future investigations, claims or lawsuits,
including derivative claims, product or professional liability
claims, and other factors discussed under the heading “Risk
Factors” contained in Item 1A of the company’s Annual Report on
Form 10-K filed with the U.S. Securities and Exchange Commission
(SEC) on March 1, 2023 as updated in the company's Quarterly Report
on Form 10-Q filed with the SEC on May 4, 2023, the company's
Quarterly Report on Form 10-Q filed with the SEC on August 4, 2023,
and the company’s Quarterly Report on Form 10-Q filed with the SEC
on November 7, 2023, as well as any further updates to those risk
factors filed from time to time in the company’s Quarterly Reports
on Form 10-Q or Current Reports on Form 8-K. Myriad Genetics is not
under any obligation, and it expressly disclaims any obligation, to
update or alter any forward-looking statements, whether as a result
of new information, future events or otherwise except as required
by law.
Investor ContactMatt Scalo(801)
584-3532IR@myriad.com
Media ContactGlenn Farrell(385)
318-3718PR@myriad.com
To view Scott Leffler: Myriad Genetics, Inc.,
a leader in genetic testing and precision medicine, today announced
the appointment of Scott Leffler as Chief Financial Officer (CFO),
effective January 29, 2024. Leffler will succeed Myriad CFO Bryan
Riggsbee who is retiring, please visit the following
link: https://www.globenewswire.com/NewsRoom/AttachmentNg/64703a68-7f3f-436e-a59f-9de4135109e4.
Myriad Genetics (NASDAQ:MYGN)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Myriad Genetics (NASDAQ:MYGN)
Gráfica de Acción Histórica
De May 2023 a May 2024