Myriad Genetics, Inc.

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Okay, good afternoon, and welcome to the Myriad Genetics first quarter 2023 earnings call. During the call, we will review the financial results we released today, and afterwards, we will host a question and answer session. Our quarterly earnings release was issued this afternoon on Form 8K and can be found on our website at investor.myriad.com. I'm Matt Scalo, Senior Vice President of Investor Relations. And on the call with me today are Paul Diaz, our President and Chief Executive Officer, Brian Rigsby, our Chief Financial Officer, Nicole Lambert, our Chief Operating Officer, and Mark Barati, our Chief Commercial Officer. This call can be heard live via webcast at investor.meri.com, and a recording will be archived in the investor section of our website along with this slide presentation. Please note that some of the information presented today contains projections, or other forward-looking statements regarding future events or the future financial performance of the company. These statements are based on management's current expectations, and the actual events or results may differ materially and adversely from these expectations for a variety of reasons. We refer you to the documents the company files from time to time with the Securities and Exchange Commission, specifically the company's annual report on Form 10-K, its quarterly reports on Form 10-Q, and its current reports on Form 8-A. These documents identify important risk factors that could cause the actual results to differ materially from those contained in our projections or forward-looking statements. With that, I will now turn the call over to Paul.

Good afternoon, everyone, and thank you for joining us. On today's call, we will discuss highlights from the first quarter and provide updates on the strategic initiatives that are driving our long-term growth plan. So many positive changes happening across our organization. I want to take a minute to thank our myriad teammates and our provider partners for their continued commitment to advancing our mission and vision to make genetic testing and precision medicine more accessible, helping people take more control of their health, and to enable providers to better treat and prevent disease. Turn to slide four. Merogenetics had another strong quarter as we kicked off 2023 ahead of expectations. Total revenue grew 10% year-over-year, driven by another strong quarter of double-digit volume growth in both myRisk hereditary cancer testing and GeneSight. Total volume grew 21% year-over-year and 10% sequentially, excluding sneak peak. Hereditary cancer testing volume grew an impressive 24% year-over-year in Q1, after growing 16% year-over-year last quarter. For those who may have doubted our ability to sustain gene site growth, we processed 110,000 tests in the first quarter, a company record, and saw approximately 4,000 new clinicians ordering gene sites for the first time. We're also very excited about the progress we made in our prenatal business, which despite some interruptions in the state of California, grew test volumes 12% year-over-year in the quarter. excluding contributions from Gateway Genomics. This quarter gives us confidence in our ability to achieve our full-year financial guidance, as well as reach profitability and positive operating cash flow in the fourth quarter of this year. Additionally, we believe that our continued commercial execution, robust product pipeline, and top-tier talent will fuel our long-term growth even further. In the quarter, we announced several new exciting strategic partnerships, including an expanded partnership with Illumina to combine our unique diagnostic development and commercial capabilities to expand our emerging biopharma business and broaden access to HRD testing in the United States. We also announced a new collaboration with SimonMed Imaging, one of the largest independent outpatient imaging providers in the United States, to improve access to our MyRisk hereditary cancer test with RiskScore for women of all ancestors. Nicole will speak to these new partnerships in more detail, and we are excited about a number of other similar business development opportunities under discussion. At Myriad Genetics, we strive to provide best-in-class quality tests and scientific insights for our providers and their patients. From leading research and development in molecular and companion diagnostics to products helping to address our growing mental health crisis, we are working at the forefront of innovation in our space. We also want to ensure that we are actively removing friction points for our patients and healthcare providers to make it easier to do business with us. Nicole will talk about some of the progress we've made in improving the patient and provider experience with new tools like our unified order portal and EMR integrations later on this call. Finally, improving access to our tests for patients of all demographics is extremely important to us. Serving underrepresented populations and ethnicities through our patient outreach programs has proven to be very effective, and we are excited about our new point-of-care financial accessibility tools and payment programs to improve access for all patients. Transitioning to slide six, I'd like to outline exactly why we think and what it takes to be a winner in our sector. First, we strive to have the best science and products whose access and adoption are enabled by technology in our fields. For us, this means having products that deliver real-world results in clinical settings through high-quality, actionable, and differentiated tests that help support early detection and treatment decisions. Second, we believe we need automated, scalable, and cost-effective lab operations to deliver on our mission. Our Labs of the Future strategy, which Nicole will discuss later on the call, allows us to improve workflows, test turnaround times, and reduce costs to advance technology and automation. Similarly, the investments we've made over the last two years in modernizing our IT platform allow us to better serve our patients and provider partners at scale across all products and channels at lower cost. Third, a strong commercial platform ensures that our providers and patients benefit from partnering with MeriGenetics and that we can grow efficiently. And finally, to win, one needs best-in-class regulatory revenues and revenue cycle capabilities. Great science used to develop practical, high-quality diagnostic tests operating in state-of-the-art facilities that reduce costs with the ability to get paid for our efforts is key. Our payer markets team has deep industry experience and plays an integral role in the development of our product pipeline, as well as our commercial reimbursement strategy. We see this as a competitive advantage that does not often receive the credit it deserves. With that, I'll turn it over to our Chief Commercial Officer, Mark Barati, to speak towards our commercial capabilities in more detail.