Myriad Genetics Plunges to 5-Year Low as Forecast Falls ShortBy
Company cites weakness in genetic testing for cancer risk
Shares decline 34% to lowest level since December 2011
Myriad Genetics Inc. plunged the most in 16 years after the company forecast 2017 sales and earnings that fell substantially short of analysts’ estimates, due largely to declining revenue from tests used to detect a genetic risk of developing cancer.
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