MYRIAD GENETICS INC MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL POSITION AND RESULTS OF OPERATIONS (DOLLARS AND STOCKS IN MILLIONS, EXCLUDING SHARE DATA) (Form 10-Q)

The next Administration's Dialogue and Evaluation of Monetary Situation and
Outcomes of Operations must be learn along with the unaudited Condensed
Consolidated Monetary Statements and the associated notes thereto included on this
Quarterly Report on Type 10-Q and the audited Consolidated Monetary Statements
and notes thereto and Administration's Dialogue and Evaluation of Monetary
Situation and Outcomes of Operations for the yr ended December 31, 2021
included in our Annual Report on Type 10-Okay filed with the SEC on February 25,
2022. "We," "us," "our," "Myriad" and the "Firm" as used on this Quarterly
Report on Type 10­Q confer with Myriad Genetics, Inc., a Delaware company, and
its subsidiaries.

Cautionary assertion relating to forward-looking statements


The SEC encourages firms to reveal forward-looking info in order that
traders can higher perceive an organization's future prospects and make knowledgeable
funding selections. This Quarterly Report on Type 10­Q comprises such
"forward-looking statements" throughout the which means of the Non-public Securities
Litigation Reform Act of 1995.

Phrases akin to "might," "anticipate," "estimate," "expects," "tasks," "intends,"
"plans," "believes," "search," "might," "proceed," "possible," "will," "technique"
and "purpose" and phrases and phrases of comparable substance utilized in reference to any
dialogue of future working or monetary efficiency determine forward-looking
statements. All forward-looking statements are administration's current expectations
of future occasions and are topic to plenty of recognized and unknown dangers and
uncertainties that would trigger precise outcomes, circumstances, and occasions to vary
materially and adversely from these anticipated. These dangers embrace, however are
not restricted to:

•uncertainties related to COVID-19, together with its attainable results on our
operations and the demand for our services and on our potential to
effectively and flexibly handle our enterprise;
•the danger that gross sales and revenue margins of our present molecular diagnostic
exams might decline or that we might not have the ability to function our enterprise on a
worthwhile foundation;
•dangers associated to our potential to generate adequate income from our present
product portfolio or in launching and commercializing new exams;
•dangers associated to modifications in governmental or non-public insurers' protection and
reimbursement ranges for our exams or our potential to acquire reimbursement for
our new exams at comparable ranges to our present exams;
•dangers associated to elevated competitors and the event of latest competing
exams and providers;
•the danger that we could also be unable to develop or obtain industrial success for
further molecular diagnostic exams in a well timed method, or in any respect;
•the danger that we might not efficiently develop new markets for our molecular
diagnostic exams, together with our potential to efficiently generate income exterior
the USA;
•the danger that licenses to the know-how underlying our molecular diagnostic
exams and any future exams are terminated or can't be maintained on
passable phrases;
•dangers associated to delays or different issues with working and setting up our
laboratory testing amenities;
•dangers associated to public concern over genetic testing usually or our exams in
explicit;
•dangers associated to regulatory necessities or enforcement in the USA
and international nations and modifications within the construction of the healthcare system or
healthcare cost methods;
•dangers associated to our potential to acquire new company collaborations or licenses
and purchase or develop new applied sciences or companies on passable phrases, if
in any respect;
•dangers associated to our potential to efficiently combine and derive advantages from
any applied sciences or companies that we license, purchase, or develop;
•dangers associated to our projections concerning the potential market alternative for our
present and future merchandise;
•the danger that we or our licensors could also be unable to guard or that third
events will infringe the proprietary applied sciences underlying our exams;
•the danger of patent-infringement claims or challenges to the validity of our
patents;
•dangers associated to modifications in mental property legal guidelines overlaying our molecular
diagnostic exams, or patents or enforcement, in the USA and international
nations;
•dangers associated to safety breaches, lack of knowledge and different disruptions,
together with from cyberattacks;
•dangers of latest, altering and aggressive applied sciences and laws in the
United States and internationally;
•the danger that we could also be unable to adjust to monetary working covenants
below our credit score or lending agreements;
•dangers associated to the fabric weak spot associated to our basic info
know-how controls, together with the impression thereof and our remediation plan, and
our incapacity to attain and keep efficient disclosure controls and
procedures and inside management over monetary reporting;
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•dangers associated to present and future lawsuits, together with product or skilled
legal responsibility claims; and
•different components mentioned below the heading "Danger Elements" contained in Merchandise 1A
of our Annual Report on Type 10-Okay filed with the U.S. Securities and Alternate
Fee on February 25, 2022.

In mild of those assumptions, dangers and uncertainties, the outcomes and occasions
mentioned within the forward-looking statements contained on this Quarterly Report,
or in any doc included by reference may not happen. Stockholders are
cautioned to not place undue reliance on the forward-looking statements, which
converse solely as of the date of this Quarterly Report. We aren't below any
obligation, and we expressly disclaim any obligation, to replace or alter any
forward-looking statements, whether or not on account of new info, future
occasions or in any other case besides as required by legislation. All forward-looking statements in
this Quarterly Report attributable to us or to any individual appearing on our behalf
are expressly certified of their entirety by the cautionary statements contained
or referred to on this part.

basic


We're a number one genetic testing and precision drugs firm devoted to
advancing well being and well-being for all. We offer insights that assist individuals
take management of their well being and allow healthcare suppliers to raised detect,
deal with, and stop illness. We develop and provide genetic exams that assist assess
the danger of creating illness or illness development or information remedy
selections throughout medical specialties the place crucial genetic insights can
considerably enhance affected person care and decrease well being care prices.

Customized genetic knowledge and digital and digital client tendencies are converging
to vary conventional fashions of care. Vital progress alternatives exist to
assist affected person populations with urgent well being care wants by way of revolutionary
options and providers. We're presently executing a strategic transformation
and progress plan that goals to capitalize on these tendencies by specializing in three
strategic priorities: (1) innovation that improves scientific outcomes, ease of
use, and entry, (2) enterprise capabilities to speed up progress and scale to
market alternative; and (3) a deal with execution and supply of constant
outcomes. In reference to these strategic priorities, we're focusing our
efforts in three key areas the place we have now specialised merchandise, capabilities, and
experience: Oncology, Girls's Well being, and Psychological Well being. In every of those areas,
we intend to develop and improve best-in-class merchandise to help progress,
enhance affected person and supplier expertise, and attain extra sufferers of all
backgrounds. By investing in tech-enabled industrial instruments, we consider we'll
have the ability to drive elevated engagement, enhance income cycle administration, and
scale back complexity and price. We're dedicated to disciplined administration of a key
set of initiatives to meet our mission and drive long-term progress and
profitability. With a basis of monetary, industrial, operational and
technological energy, we anticipate to speed up progress as we launch a brand new
enterprise industrial mannequin, launch a unified ordering portal, put money into new
sequencing applied sciences, additional develop direct-to-consumer channels, and construct
industrial capabilities to help new merchandise and choices.

Enterprise Updates

Through the ending quarter 30 June 2022 We’ve launched the next current bulletins:

•on me Could 3, 2022we introduced the enlargement of our partnership with Intermountain Precision Genomics to develop a brand new liquid biopsy remedy choice check.

•on me 26 Could 2022We introduced a number of research in 2022 American Society of Medical Oncology (ASCO) Annual Assembly, which highlights the worth of genetic insights to assist information and make clear most cancers remedy and threat evaluation.


•On June 23, 2022, we introduced a partnership with Epic Programs Company
(Epic) to combine Myriad's full line of genetic exams with Epic's expansive
community of 600,000 physicians and greater than 250 million sufferers.

•on me June 28, 2022We’ve launched our first Environmental, Social and Administration Report, highlighting the rising efforts to help a wholesome, equitable and sustainable society.




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Outcomes of Operations for the Three Months Ended June 30, 2022 and 2021

The outcomes of operations for the three months ended June 30, 2022 and 2021 are
mentioned under.

Income

                                              Three months ended June 30,                Change                    % of complete income
(in thousands and thousands)                                2022                       2021              2022               2022                    2021
Molecular diagnostic revenues:
Hereditary Most cancers                      $         79.4                $   86.0          $   (6.6)                   44%                      45%
Tumor Profiling                                  33.5                    30.3               3.2                    19%                      16%
Prenatal                                         33.3                    29.4               3.9                    19%                      16%
Pharmacogenomics                                 33.1                    22.6              10.5                    18%                      12%
Autoimmune                                          -                    10.2             (10.2)                    -%                       5%
Different                                               -                     0.2              (0.2)                    -%                       -%
Complete molecular diagnostic income              179.3                   178.7               0.6
Pharmaceutical and scientific providers
income                                             -                    10.7             (10.7)                    -%                       6%
Complete income                          $        179.3                $  189.4          $  (10.1)                  100%                     100%


Molecular diagnostic revenues elevated $0.6 million for the three months ended
June 30, 2022 in comparison with the identical interval within the prior yr. Revenues from
Pharmacogenomics elevated $10.5 million in comparison with the identical interval within the
prior yr due primarily to a 39% improve in quantity. Tumor profiling revenues
elevated $3.2 million in comparison with the identical interval within the prior yr due
primarily to a 7% improve in quantity and a 3% improve in common reimbursement
per check. Prenatal revenues elevated $3.9 million in comparison with the identical interval
within the prior yr due primarily to a 17% improve in common reimbursement per
check. Hereditary Most cancers revenues decreased $6.6 million in comparison with the identical
interval within the prior yr as a result of a 4% lower in quantity. Autoimmune revenues
decreased $10.2 million as a result of sale of the Myriad Autoimmune enterprise on
September 13, 2021.

Pharmaceutical and scientific providers revenues had been $10.7 million within the prior
interval. Because of the sale of Myriad RBM, Inc. on July 1, 2021, there have been
no Pharmaceutical and scientific providers revenues in the course of the present interval.

Price of Gross sales

                                                             Three months ended June 30,
(in thousands and thousands)                                                2022                      2021                Change
Price of molecular diagnostic testing                   $       49.7                 $   48.0          $             1.7

Molecular diagnostic check price as a share of income 27.7%

             26.9  %
Price of pharmaceutical and scientific providers           $          -                 $    5.7          $           (5.7)

Price of pharmaceutical and scientific providers as a share of income

                                                           -   %                 53.3  %


The price of molecular diagnostic testing as a share of income elevated
from 26.9% to 27.7% in the course of the three months ended June 30, 2022 in comparison with the
identical interval within the prior yr. The rise was primarily pushed by the shift in
the product combine for the present interval, a rise in compensation prices as a result of
each a rise within the variety of staff and the associated fee per worker.

The price of pharmaceutical and scientific providers as a share of income was
53.3% for the three months ended June 30, 2021. The sale of Myriad RBM, Inc. was
accomplished on July 1, 2021, and consequently there have been no corresponding prices
in the course of the present interval.


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Analysis and improvement expenditures

                                                          Three months ended June 30,
(in thousands and thousands)                                             2022                      2021                Change
R&D expense                                         $       20.3                 $   19.5          $             0.8
R&D expense as a % of complete income                         11.3   %        

10.3%

Analysis and improvement bills for the three months ended 30 June 2022
Slight improve in comparison with the identical interval within the earlier yr primarily as a result of a rise in common compensation per worker.

Promoting, basic and administrative bills


                                                               Three months ended June 30,
(in thousands and thousands)                                                 2022                       2021                 Change
Promoting, basic and administrative expense             $       127.1                 $  135.2          $            (8.1)

Promoting and basic and administrative bills as a share of complete income

                                                    70.9   %                 71.4  %


Promoting, basic and administrative expense decreased for the three months ended
June 30, 2022 in comparison with the identical interval within the prior yr primarily as a result of a
$6.3 million lower usually authorized bills, a $3.7 million lower in
amortization expense as a result of intangible belongings offered within the divestitures within the
prior yr, a $2.7 million lower in prices incurred within the present interval as
a part of the Firm's strategic transformation initiatives, and a $2.2 million
lower in compensation-related bills as a result of decrease headcount on account of
the divestitures within the prior yr, partially offset by a $5.4 million improve
in advertising and marketing bills.

good intention and impairment expenses for long-lived belongings


                                                              Three months ended June 30,
(in thousands and thousands)                                             2022                      2021                 Change
Goodwill and long-lived asset impairment expenses     $        -                  $    1.8          $            (1.8)

good intention and impairment expenses on long-term belongings as a share of complete income

                                          -    %        

1.0%



Goodwill and long-lived asset impairment expenses decreased for the three months
ended June 30, 2022 in comparison with the identical interval within the prior yr as a result of
Firm recognizing a $1.8 million impairment to right-of-use belongings within the
prior interval on account of the voluntary early termination of sure lease
agreements. There have been no impairments acknowledged within the present interval.

Different Earnings (Expense), Internet

                                        Three months ended June 30,
(in thousands and thousands)                               2022                       2021          Change
Different earnings (expense), web   $          (0.1)                       $ 17.0      $       (17.1)


Different earnings (expense), web decreased for the three months ended June 30, 2022
in comparison with the identical interval within the prior yr due primarily to the $31.2 million
web acquire acknowledged on the sale of the Myriad myPath, LLC laboratory within the
prior interval, partially offset by expenses within the prior interval, together with losses
of $5.9 million and $6.6 million for a non-cancelable buy dedication and
stock, respectively, acknowledged in reference to the divestiture
transactions. There have been no comparable objects within the present interval.


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Earnings Tax Expense (Profit)

                                                            Three months ended June 30,
(in thousands and thousands)                                              2022                         2021                 Change
Earnings tax expense (profit)                        $         (3.8)                 $     0.9          $            (4.7)
Efficient tax fee                                            21.2    %                 (23.7) %


Our tax fee is the product of a blended U.S. federal efficient fee of 21.0%
and a blended state earnings tax fee of roughly 4.2%. Sure important
or uncommon objects are individually acknowledged in the course of the interval during which they happen
and generally is a supply of variability within the efficient tax charges from interval to
interval.

Earnings tax profit for the three months ended June 30, 2022 was $3.8 million,
and our efficient tax fee was 21.2%. For the three months ended June 30, 2022,
our acknowledged efficient tax fee differs from the U.S. federal statutory fee
primarily as a result of disallowed govt compensation bills, disallowed meals
and leisure bills, inventory compensation bills and asset impairment
bills. For the three months ended June 30, 2021, our acknowledged efficient tax
fee differs from the U.S. federal statutory fee primarily as a result of disallowed
govt compensation bills, disallowed meals and leisure bills,
the tax impression of the Coronavirus Assist, Reduction, and Financial Safety Act (CARES
Act), and launch of a valuation allowance.


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Operational outcomes for the six months ending 30 June 2022 and 2021


The outcomes of operations for the six months ended June 30, 2022 and 2021 are
mentioned under.


Income

                                            Six months ended June 30,              Change                    % of Complete Income
(in thousands and thousands)                                 2022                2021              2022               2022                    2021
Molecular diagnostic revenues:
Hereditary Most cancers                       $       150.3          $  162.1          $  (11.8)                   44%                      45%
Tumor Profiling                                  66.0              61.5               4.5                    19%                      17%
Prenatal                                         65.2              53.1              12.1                    19%                      15%
Pharmacogenomics                                 62.4              40.2              22.2                    18%                      11%
Autoimmune                                        0.3              20.9             (20.6)                    -%                       6%
Different                                               -               0.5              (0.5)                    -%                       -%
Complete molecular diagnostic income              344.2             338.3     

5.9

Pharmaceutical and scientific service
income                                             -              24.2             (24.2)                    -%                       7%
Complete income                           $       344.2          $  362.5          $  (18.3)                  100%                     100%


Molecular diagnostic income for the six months ended June 30, 2022 elevated
$5.9 million in comparison with the identical interval within the prior yr. Income from
Pharmacogenomics elevated $22.2 million in comparison with the identical interval within the
prior yr due primarily to a 44% improve in quantity. Hereditary Most cancers revenues
decreased $11.8 million in comparison with the identical interval within the prior yr due
primarily to an 8% lower in quantity. Prenatal revenues elevated $12.1 million
in comparison with the identical interval within the prior yr due primarily to a 26% improve in
the common reimbursement per check. Tumor Profiling revenues elevated $4.5
million in comparison with the identical interval within the prior yr as a result of a 9% improve in
quantity. Autoimmune revenues decreased $20.6 million as a result of sale of the
Myriad Autoimmune enterprise on September 13, 2021.

Pharmaceutical and scientific service revenues had been $24.2 million within the prior
interval. Because of the sale of Myriad RBM, Inc. on July 1, 2021, there have been
no Pharmaceutical and scientific providers revenues in the course of the present interval.


Price of Gross sales

                                                             Six months ended June 30,
(in thousands and thousands)                                                 2022                2021                 Change
Price of molecular diagnostic testing                     $      97.7           $   92.1          $              5.6

Molecular diagnostic check price as a share of income 28.4%

        27.2  %
Price of pharmaceutical and scientific providers             $         -           $   11.9          $           (11.9)

Price of pharmaceutical and scientific providers as a share of income

                                                            -   %    

49.2%



The price of molecular diagnostic testing as a share of income elevated
from 27.2% to twenty-eight.4% in the course of the six months ended June 30, 2022 in comparison with the
identical interval within the prior yr. The rise was primarily pushed by the shift in
the product combine for the present interval, a rise in compensation prices as a result of
each a rise within the variety of staff and the associated fee per worker, and
larger price per check as a result of inflationary pressures.

The price of pharmaceutical and scientific providers as a share of income was
49.2% for the six months ended June 30, 2021. The sale of Myriad RBM, Inc. was
accomplished on July 1, 2021, and consequently there have been no corresponding prices
in the course of the present interval.
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Analysis and improvement expenditures

                                              Six months ended June 30,
(in thousands and thousands)                               2022                       2021           Change
R&D expense                            $      41.5                   $ 42.6       $        (1.1)
R&D expense as a % of complete income           12.1   %                 11.8 

%




Analysis and improvement expense for the six months ended June 30, 2022
decreased in comparison with the identical interval within the prior yr primarily as a result of a
lower in prices incurred within the present interval of $3.4 million on account of
sure prices associated to the Firm's strategic transformation initiatives
in comparison with the identical interval within the prior yr, partially offset by a rise
in compensation expense.

Promoting, basic and administrative bills


                                                              Six months ended June 30,
(in thousands and thousands)                                                   2022                2021                 Change
Promoting, basic and administrative expense               $      237.7           $  281.6          $           (43.9)

Promoting and basic and administrative bills as a share of complete income

                                                     69.1   %  

77.7%



Promoting, basic and administrative expense decreased for the six months ended
June 30, 2022 in comparison with the identical interval within the prior yr primarily as a result of a
$14.1 million lower in prices incurred within the present interval as a part of the
Firm's strategic transformation initiative, a $13.1 million lower in
compensation-related bills as a result of much less headcount on account of the
divestitures within the prior yr, the receipt of $11.4 million from insurers to
offset the beforehand accrued Abelli settlement and different authorized bills, a $9.0
million lower in authorized bills, and an $8.8 million lower in amortization
expense as a result of intangible belongings offered within the divestitures within the prior yr,
partially offset by an $8.4 million improve in gross sales and advertising and marketing bills due
to extra in-person gross sales and advertising and marketing occasions and travel-related bills within the
present interval and a $1.7 million improve in stock-based compensation.

good intention and impairment expenses for long-lived belongings


                                                           Six months ended June 30,
(in thousands and thousands)                                                2022                2021                Change

good intention and impairment expenses for long-lived belongings 10.7 {dollars}

   $    1.8          $             8.9

good intention and long-term asset impairment expenses as a share of complete income

                                              3.1   %     

0.5%



Goodwill and long-lived asset impairment expenses elevated for the six months
ended June 30, 2022 in comparison with the identical interval within the prior yr primarily due
to the Firm recognizing an $8.6 million impairment to right-of-use belongings and
a $2.1 million impairment to the associated leasehold enhancements within the present
interval on account of its choice to not use one in every of its amenities in
order to consolidate house. Through the prior interval, the Firm acknowledged a
$1.8 million impairment to right-of-use belongings on account of the voluntary
early termination of sure lease agreements to consolidate house.
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Different Earnings (Expense), Internet

                                      Six months ended June 30,
(in thousands and thousands)                             2022                   2021          Change
Different earnings (expense), web   $         (0.9)                  $ 14.1      $       (15.0)



Different earnings (expense), web decreased for the six months ended June 30, 2022
in comparison with the identical interval within the prior yr due primarily to the $31.2 million
web acquire acknowledged within the prior interval on the sale of the Myriad myPath, LLC
laboratory and losses of $5.9 million and $6.6 million for a non-cancelable
buy dedication and stock, respectively, acknowledged in reference to
the divestiture transactions, in addition to a $3.5 million lower in curiosity
expense within the present interval. The curiosity expense within the prior interval is
associated to the debt excellent at the moment with no corresponding debt
excellent within the present interval, because the debt was repaid in full on July 30,
2021.

Earnings Tax Profit

                            Six months ended June 30,
(in thousands and thousands)             2022                       2021           Change
Earnings tax profit   $      (9.7)                  $ (9.2)      $        (0.5)
Efficient tax fee          21.9   %                 17.2  %


Our tax fee is the product of a blended U.S. federal efficient fee of 21.0%
and a blended state earnings tax fee of roughly 4.2%. Sure important
or uncommon objects are individually acknowledged in the course of the interval during which they happen
and generally is a supply of variability within the efficient tax charges from interval to
interval.

Earnings tax profit for the six months ended June 30, 2022 was $9.7 million, and
our efficient tax fee was 21.9%. For the six months ended June 30, 2022, our
acknowledged efficient tax fee differs from the U.S. federal statutory fee
primarily as a result of disallowed govt compensation bills, disallowed meals
and leisure bills, inventory compensation bills and asset impairment
bills. For the six months ended June 30, 2021, our acknowledged efficient tax
fee differs from the U.S. federal statutory fee primarily as a result of disallowed
govt compensation bills, disallowed meals and leisure bills,
the tax impression of the Coronavirus Assist, Reduction, and Financial Safety Act (CARES
Act), and launch of a valuation allowance.
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Liquidity and capital assets


Our main sources of liquidity are our money, money equivalents and marketable
funding securities, our anticipated future money flows from operations, and, in
sure circumstances, as mentioned under, quantities out there for borrowing below
our Amended Facility. Our capital deployment technique focuses on use of
assets in the important thing areas of analysis and improvement, know-how and
acquisitions. We consider that investing organically by way of analysis and
improvement or acquisitively to help enterprise technique supplies the very best
return on invested capital.

We consider that our present capital assets might be adequate to satisfy our
projected working necessities for the foreseeable future. As well as, our
capital assets and money available could also be used for acquisitions or different
strategic investments.

All beforehand excellent borrowings below our Amended Facility, which matures
on July 31, 2023, had been repaid on July 30, 2021 utilizing money generated from
divestitures and as such, we have now no excellent borrowings as of June 30, 2022.
Our out there capital assets, nevertheless, could also be consumed extra quickly than
presently anticipated, or could also be inadequate, and we may have or wish to elevate
further financing. We might not have the ability to safe such financing in a well timed
method or on favorable phrases, if in any respect, and the present rising rate of interest
setting might make any potential financing tougher or costly to
get hold of. As well as, we have now a decreased borrowing restrict and are topic to
monetary covenants below our Amended Facility, which might restrict our potential to
incur adequate further indebtedness or impression our choice to pursue different
financing. With out further funds, we could also be pressured to delay, cut back or
get rid of a few of our gross sales and advertising and marketing efforts, analysis and improvement
actions, or different operations, and doubtlessly delay improvement of our
diagnostic exams in an effort to offer adequate funds to proceed our
operations. If any of those occasions happens, our potential to attain our
improvement and commercialization objectives may very well be adversely affected.

The Amended Facility restricts our potential to make future borrowings if
unrestricted money, money equivalents and marketable securities exceed $150.0
million, until such borrowings are utilized in reference to sure permitted
acquisitions. Unrestricted money, money equivalents and marketable securities
totaled $283.6 million as of June 30, 2022. Our revolving dedication quantity is
$200.0 million as of July 26, 2022, with an additional discount to $150.0 million
by December 31, 2022. Because the Firm's complete unrestricted money, money
equivalents, and marketable securities exceeded $150.0 million as of June 30,
2022, we're unable to make future borrowings until associated to a permitted
acquisition. As well as, we're topic to a minimal liquidity covenant, which
requires us to take care of liquidity-defined because the sum of the Firm's
unrestricted money, money equivalents and marketable funding securities plus
the combination undrawn and out there quantity of the revolving commitments-of
$150.0 million.

Once in a while, we enter into buy commitments or different agreements that
might materially impression our liquidity place in future durations. In February
2022, we entered right into a non-cancelable working lease for about 230,000
sq. ft in west Salt Lake Metropolis, Utah. The lease has a time period of 15 years,
which, together with lease funds, are anticipated to start within the third quarter
of 2023. Complete future lease funds below the lease is roughly $77.8
million. As well as, in April 2022, we paid $48.0 million for the settlement of
the qui tam lawsuit in opposition to Crescendo Bioscience, LLC and the Firm.

As a result of regularly evolving international state of affairs from the COVID-19 pandemic, it
just isn't attainable to foretell whether or not ongoing penalties of the pandemic are
fairly prone to materially have an effect on our liquidity and capital assets in
the long run. Due to the technical nature of our enterprise and our deal with
science, analysis and improvement, we're extremely dependent upon our potential to
entice and retain extremely certified and skilled administration, scientific, and
technical personnel. Competitors and compensation for such personnel and different
certified personnel elevated as employment vacancies surged in the course of the yr
ended December 31, 2021 and into the quarter ended June 30, 2022, which has
elevated the issue and price of hiring and retaining certified personnel.
Lack of the providers of or failure to recruit further key administration,
scientific and technical personnel and different certified personnel who're
essential to function our enterprise would adversely have an effect on our enterprise, and it
might have a cloth adversarial impact on our enterprise as a complete. Moreover,
disruptions to our provide chain might trigger shortages of crucial supplies
required to conduct our enterprise, which can have a cloth adversarial impact on
our enterprise as a complete. As well as, inflation has had, and we anticipate it's going to
proceed to have, an impression on the prices we incur to draw and retain
certified personnel, prices to generate gross sales and produce diagnostic testing
outcomes, and prices of lab provides.
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The next desk represents money and money equal balances and tradable investments in securities:


                                                       June 30,                 December 31,
(in thousands and thousands)                                            2022                       2021               Change
Money and money equivalents                            $   105.2                $       258.4          $ (153.2)
Marketable funding securities                          99.9                         81.4              18.5
Lengthy-term marketable funding securities                78.5                         59.0              19.5
Money, money equivalents and marketable funding
securities                                           $   283.6              

398.8 {dollars} $ (115.2)



The lower in money, money equivalents, and marketable funding securities was
primarily pushed by $96.8 million in money utilized by operations, $13.0 million used
for capital expenditures, and $2.3 million used for the cost of withholding
tax for the issuance of frequent inventory, web of proceeds from the issuance of
frequent inventory.

The next desk represents the condensed consolidated assertion of money flows:

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