Scott Leffler
SALT LAKE CITY, Dec. 21, 2023 (GLOBE NEWSWIRE) — 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 Chief Financial Officer Bryan Riggsbee, who is retiring. Riggsbee will remain as strategic advisor until March 31, 2024 to ensure a smooth transition.
Riggsbee joined Myriad in 2014 as chief financial officer. During his nine-year tenure, he made significant contributions to Myriads’ growth strategy and business transformation. In 2020, he served as interim CEO of Myriads for six months, responsible for guiding the business and supporting team members through the worst of the pandemic.
“I would like to express 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 Chief Executive Officer of Myriad Genetics. His vision and financial acumen are key components in successfully executing our transformation plan and focusing on our three core business units. We thank him for laying the foundation for business success and wish him well in his next chapter.
Leffler brings nearly 20 years of financial experience to Myriad across a broad range of healthcare and payer market sectors with public and private equity-backed companies. Loeffler has served in a variety of financial leadership roles and brings expertise in financial transformation, acquisitions and integrations, and risk management. As Chief Financial Officer, he is responsible for leading the company’s financial team and strategy to support Myriads’ long-term growth and profitability advancement.
We are pleased to welcome Scott to Myriad. Diaz said he is a thoughtful, focused leader with a proven track record of financial leadership, strategy and execution that has resulted in significant business growth. With his strategic vision, analytical curiosity and industry expertise, Scott will play an important role in building the foundation of our business to accelerate profitability, financial performance and innovation.
Loeffler previously served as Clover Health’s chief financial officer. Prior to joining Clover Health, he served as chief financial officer and treasurer of Sotera Health. He earned a BA in economics and history from Yale University and an MBA from Emory University.
During its third-quarter 2023 earnings call on November 6, Myriad updated its 2023 financial guidance and introduced 2024 revenue guidance. Myriad reiterated the guidance provided at the time.
About Wanshi Genetics
Myriad Genetics is a leading genetic testing and precision medicine company dedicated to advancing the health and well-being of all people. Myriad develops and delivers genetic tests that help assess risk of disease or disease progression and guide treatment decisions across medical specialties, where genetic insights can significantly improve patient care and reduce healthcare costs. For more information, please visit www.myriad.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding 2023 financial guidance and 2024 revenue guidance. These forward-looking statements represent management’s expectations of future events as of the date of this press release and are subject to a number of known and unknown risks and uncertainties that may cause actual results, conditions and Events differ materially and adversely from expectations. These risks include, but are not limited to: the risk that the Company’s existing test sales and profit margins may decline or that the Company may be unable to operate its business on a profitable basis; the risk that the Company may achieve certain revenue growth targets and generate from its existing product portfolio Risks related to sufficient revenue or the ability to launch and commercialize new tests to achieve profitability; risks related to changes in government or private insurer coverage and reimbursement levels for the Company’s tests or the Company’s ability to obtain reimbursement for new tests at levels comparable to existing tests Risks; risks associated with increased competition and the development of new competing tests; the risk that the Company may not be able to develop additional tests or achieve commercial success in a timely manner or at all; the risk that the Company may not be successful in developing new markets or pathways for testing, including in the United States the risk that the technology licenses underlying the Company’s testing and any future testing are terminated or cannot be maintained on satisfactory terms; risks related to delays or other problems in constructing and operating the Company’s laboratory testing facilities ; Risks related to public concern about genetic testing in general or the Company’s testing in particular; Risks related to U.S. and foreign regulatory requirements or enforcement and structural changes in the health care system or health care payment system; and the Company obtaining new corporate collaborations Risks related to licensing and the ability to acquire or develop new technologies or businesses, if any, on satisfactory terms; Risks related to the Company’s ability to successfully integrate and benefit from any technology or business it licenses, acquires or develops; The risk that the Company will not be able to obtain additional financing on a timely basis or on favorable terms when needed to fund its operations; Risks related to the Company’s forecasts or estimates of potential market opportunities for the Company’s current and future products; The Company or its licensors may not be able to the risk of protection or third party infringement of the proprietary technology upon which the Company’s testing is based; the risk of claims of patent infringement or challenges to the validity of the Company’s patents; risks related to changes in U.S. and foreign intellectual property laws involving the Company’s testing, patents or enforcement; risks related to security breaches, data loss and other disruptions, including cyber attacks; risks from new, changing and competitive technologies in the United States and internationally, and that the Company may not be able to keep pace with rapid technological changes in its industry pace, or the inability to properly leverage new technologies to achieve or maintain a competitive advantage 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; and the Company’s inability to implement and maintain effective disclosure controls and procedures and financial reporting Risks related to internal controls; risks related to current and future investigations, claims or litigation, including derivative claims, product or professional liability claims, and those contained in Item 1A of the Company’s Annual Report on Form 10-K filed with SEC Additional factors discussed under the heading Risk Factors were updated in the Company’s Quarterly Report on Form 10-Q filed with the 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 November 7, 2023, and the Company’s Quarterly Report on Form 10-Q filed with the SEC on November 7, 2023, as well as these risks filed from time to time in the Company’s Quarterly Report on Form 10-Q or current reports Any further updates to the Factors are on Form 8-K. Myriad Genetics undertakes no obligation, and expressly disclaims any obligation, to update or change any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Investor Contact
Matt Scullo
(801) 584-3532
IR@myriad.com
Media Contact
Glenn Farrell
(385)318-3718
PR@myriad.com
Check 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 replace retiring Myriad CFO Bryan Riggsbeeplease visit the following link: https://www.globenewswire.com/NewsRoom/AttachmentNg/64703a68-7f3f-436e-a59f-9de4135109e4.
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