On July 30, 2026 Veracyte, Inc. (Nasdaq: VCYT), a leading cancer diagnostics company, reported financial results for the second quarter ended June 30, 2026.

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"Q2 was a milestone quarter for Veracyte as we launched two new products, Prosigna LDT and TrueMRD for MIBC, while also delivering strong double-digit revenue growth, profitability and cash generation," said Marc Stapley, Veracyte’s chief executive officer. "These launches meaningfully expand our ability to serve more patients across the cancer care continuum and, combined with the strength of our core business, position us well to deliver durable double-digit growth."

Key Financial Highlights
For the three-month period ended June 30, 2026, as compared to the same period in 2025:
•Increased total revenue by 15% to $150.3 million and testing revenue by 19% to $145.7 million, driven by Decipher growth of 20% to $91.9 million and Afirma growth of 18% to $51.2 million.
•Increased total volume by 13% to 50,967 tests and testing volume by 14% to 48,389 tests, driven by Decipher growth of 17% to approximately 29,700 tests and Afirma growth of 10% to approximately 18,600 tests.
•Recorded GAAP net income of $25.5 million, or 17.0% of revenue, and delivered adjusted EBITDA of $44.0 million, or 29.2% of revenue.
•Generated $45.8 million of cash from operations to end the quarter with $485.2 million of cash, cash equivalents, and short-term investments as of June 30, 2026.
Key Business Highlights
•Launched the Prosigna Breast Test in the U.S. for patients diagnosed with early-stage hormone-receptor positive (HR+) breast cancer.
•Launched the TrueMRD Monitoring Test for patients with muscle-invasive bladder cancer (MIBC).
•Secured Medicare coverage for the TrueMRD Monitoring Test, representing the first Medicare coverage decision for the whole-genome sequencing-based TrueMRD platform.
•Further expanded the clinical evidence of our testing portfolio, including new predictive evidence from the OPTIMA trial supporting the clinical utility of Prosigna and the ENZAMET trial expanding the Decipher clinical evidence base. Together, Decipher and Afirma were featured in nearly 60 abstracts and presentations during the quarter.
A reconciliation of GAAP to non-GAAP financial measures has been provided in the tables included in this press release. An explanation of these measures is also included below under the heading "Note Regarding Use of Non-GAAP Financial Measures."

Second Quarter 2026 Financial Results

Total revenue for the second quarter of 2026 was $150.3 million, an increase of 15% compared to $130.2 million reported in the second quarter of 2025. Testing revenue was $145.7 million, an increase of 19% compared to $122.3 million in the second quarter of 2025, driven by growth in our Decipher Prostate and Afirma tests. Product revenue was $3.9 million, an increase of 7% compared to $3.6 million in the second quarter of 2025. Biopharmaceutical and other revenue was $0.8 million, an expected decrease compared to $4.3 million in the second quarter of 2025 given the restructuring and liquidation proceedings of Veracyte SAS.

Total gross margin for the second quarter of 2026 was 72%, compared to 69% in the second quarter of 2025. Non-GAAP gross margin was 75%, compared to 72% in the second quarter of 2025.

Operating expenses were $85.6 million for the second quarter of 2026 compared to $95.0 million in the second quarter of 2025. Non-GAAP operating expenses grew 16% to $70.0 million compared to $60.3 million in the second quarter of 2025.

Net income for the second quarter of 2026 was $25.5 million, an increase of $26.5 million compared to the second quarter of 2025. Diluted net earnings per common share was $0.31, an improvement of $0.32 compared to the second quarter of 2025. Non-GAAP diluted net earnings per common share was $0.54, an increase of $0.10 compared to the second quarter of 2025. Net cash provided by operating activities in the first six months of 2026 was $81.0 million, an improvement of $42.1 million compared to the same period in 2025.

Adjusted EBITDA for the second quarter of 2026 was $44.0 million, an improvement of 23% compared to the second quarter of 2025, representing 29.2% of revenue compared to 27.5% of revenue in the same period in 2025.

2026 Financial Outlook

The company is raising 2026 total revenue guidance to $590 million to $596 million, or 14% to 15% growth, from prior guidance of $582 to $592 million, or 13% to 14% growth. The company is also raising testing revenue guidance to $576 million to $582 million, or 17% to 18% growth, from prior guidance of $570 million to $580 million, excluding the contribution from recently launched tests.

The company continues to expect adjusted EBITDA margin to be greater than 26%.

The company is unable to provide a quantitative reconciliation of expected adjusted EBITDA margin to expected GAAP net income margin, the most directly comparable forward-looking GAAP measure without unreasonable effort, because of the inherent difficulty in accurately forecasting the occurrence and financial impact of the various adjusting items necessary for such reconciliations that have not yet occurred, that are dependent on various factors, are out of the company’s control, or that cannot be reasonably predicted. Such adjustments include, but are not limited to, acquisition-related expenses, and other adjustments. Any associated estimate of these items and their impact on GAAP performance for the guidance period could vary materially. For more information on the non-GAAP financial measures, please refer to the section titled "Note Regarding Use of Non-GAAP Financial Measures" at the end of this press release.

Conference Call and Webcast Details

Veracyte will host a conference call and webcast today at 4:30 p.m. Eastern Time to discuss the company’s financial results and provide a general business update. The conference call will be webcast live from the company’s website and will be available via the following link: View Source The webcast should be accessed 10 minutes prior to the conference call start time. A replay of the webcast will be available for one year following the conclusion of the live broadcast and will be accessible on the company’s website at View Source

(Press release, Veracyte, JUL 30, 2026, View Source [SID1234669541])

On July 30, 2026 Replimune Group, Inc. (Nasdaq: REPL), a clinical-stage biotechnology company pioneering the development of novel oncolytic immunotherapies, reported the outcome of today’s meeting of the U.S. Food and Drug Administration’s (FDA) Cellular, Tissue, and Gene Therapies Advisory Committee (CTGTAC), which discussed the Biologics License Application (BLA) resubmission for RP1 (vusolimogene oderparepvec) in combination with nivolumab for the treatment of advanced melanoma in patients who have progressed on prior anti-PD-1 therapy.

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The committee discussed two topics: (1) whether the single-arm IGNYTE study, as designed and conducted, allows for a reliable determination of the expected response rate and durability of response in the proposed population; and (2) the clinical meaningfulness of the response rate and duration of response reported in IGNYTE, and whether the observed responses are indicative of systemic antitumor activity attributable to RP1. The committee then voted 10 to 3, on the question: "Are the efficacy results from IGNYTE evaluable and clinically meaningful?"

"We are encouraged by today’s outcome and would like to thank the committee for its thoughtful discussion of the IGNYTE data," said Sushil Patel, Ph.D., CEO of Replimune. "We are grateful to the patients and physicians who took the time to speak today and so clearly articulate the high unmet need in advanced melanoma and importance of new treatment options such as RP1 for the community. This is an important step forward for patients with advanced melanoma who have progressed on anti-PD-1 therapy. We look forward to continuing to work with the FDA as it completes its review of the BLA ahead of the action date."

The FDA’s target action date under the Class 1 resubmission is August 2, 2026.

About RP1
RP1 (vusolimogene oderparepvec) is Replimune’s lead product candidate and is based on a proprietary strain of herpes simplex virus engineered and genetically armed with a fusogenic protein (GALV-GP R-) and GM-CSF intended to maximize tumor killing potency, the immunogenicity of tumor cell death, and the activation of a systemic anti-tumor immune response.

(Press release, Replimune, JUL 30, 2026, View Source [SID1234669540])

On July 30, 2026 Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in molecular diagnostic testing and precision medicine, reported financial results for its second quarter ended June 30, 2026, new initiatives focused on driving increased efficiency, productivity and scalability, and revised financial guidance for the full-year 2026.

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"In the second quarter, we continued to make meaningful progress on the Cancer Care Continuum on a number of fronts, including 6% year-over-year volume growth supported by the ramp up of our expanded sales team, the launch of Prolaris + AI, the expansion of Precise MRD to include colorectal cancer (CRC) and renal cancers, along with the submission of Precise MRD breast to MolDX," said Sam Raha, President and CEO, Myriad Genetics. "During the quarter, we advanced work on a strategic review with the intention to identify initiatives to increase growth, profitability, and liquidity. We have activated an initiative called Ascend to increase organizational efficiency, effectivity and scalability and are being supported by a leading professional services firm. We are also doing a rigorous evaluation of our product portfolio to determine the optimal allocation of capital and enhancement of shareholder value."

"Myriad Genetics’ second quarter 2026 performance fell short of our expectations, as solid demand for our Hereditary Cancer and Mental Health tests was offset by volume challenges in Prenatal Health and increased payer friction. Mitigating average revenue per test pressure for hereditary cancer testing from this increased payer friction is a top priority, and we are executing a comprehensive action plan. The combination of these developments and the first full quarter of increased costs associated with our expanded commercial team yielded pressure on our bottom line in the quarter. While we are revising our full-year 2026 financial guidance due to lower Prenatal Health test volumes and more conservative assumptions regarding average revenue per test, we remain optimistic about our 2027 financial profile as we execute on multiple initiatives."

Financial and Operational Highlights
•Test volumes of 379,000 in the second quarter of 2026 were relatively stable year-over-year.
•Second quarter of 2026 average revenue per test decreased 9% year-over-year, in part reflecting an $11.0 million reduction to revenue resulting from changes in estimates of cash collections for tests for which the performance obligation had been satisfied in prior periods.

•The following table summarizes year-over-year testing volume changes in the company’s core product categories:
Three months ended June 30, Six months ended June 30,
(in thousands) 2026 2025 % Change 2026 2025 % Change
Product volumes:
Cancer Care Continuum 95 90 6 % 191 175 9 %
Prenatal Health 144 159 (9) % 297 332 (11) %
Mental Health 140 135 4 % 276 262 5 %
Total 379 384 (1) % 764 769 (1) %

•The following table summarizes year-over-year revenue changes in the company’s core product categories:
Three months ended June 30, Six months ended June 30,
(in millions)
2026 2025 % Change 2026 2025 % Change
Product revenues:
Cancer Care Continuum $ 114.1 $ 127.7 (11) % $ 234.3 $ 243.3 (4) %
Prenatal Health 39.8 47.6 (16) % 81.7 96.9 (16) %
Mental Health 36.8 37.8 (3) % 75.1 68.8 9 %
Total $ 190.7 $ 213.1 (11) % $ 391.1 $ 409.0 (4) %

Product Categories:
Cancer Care Continuum – MyRisk, BRACAnalysis CDx, MyChoice CDx, Prolaris + AI, Precise Tumor, Precise MRD
Prenatal Health – Foresight, Prequel, FirstGene, SneakPeek
Mental Health – GeneSight

•Second quarter 2026 gross margin was 66.6%, down 460 basis points from the second quarter 2025.
•Operating expenses in the second quarter of 2026 were $165.9 million compared to $481.0 million in the second quarter of 2025. The 2025 period included non-cash impairment charges of $316.7 million due primarily to a decline in Myriad Genetics’ market capitalization during the first six months of 2025. Adjusted operating expenses in the second quarter of 2026 increased $6.7 million year-over-year to $150.5 million, reflecting the company’s multi-year investment in key strategic areas.
•Operating loss in the second quarter of 2026 was $38.9 million.

Cash Flow and Liquidity
Second quarter 2026 cash flow used in operations was $8.3 million and adjusted operating cash outflow in the second quarter of 2026 was $7.7 million. Capital expenditures and capitalization of internal-use software costs totaled $3.2 million in the second quarter 2026 resulting in adjusted free cash flow of $(10.9) million in the second quarter of 2026.

As of the end of the second quarter of 2026, the company had cash and cash equivalents of $115.2 million.

Business Performance and Highlights
Cancer Care Continuum
The Cancer Care Continuum business delivered revenue of $114.1 million in the second quarter of 2026.
•Second quarter 2026 hereditary cancer testing revenue decreased 13% year-over-year due to decreases in reimbursement and unfavorable changes in estimates associated primarily with orders from the first quarter of 2026, partially offset by an 8% year-over-year increase in volume.
•Myriad Genetics launched Prolaris + AI, its first AI-enabled prostate cancer test, in partnership with PATHOMIQ.
•Myriad Genetics expanded availability of Precise MRD, broadening availability to patients undergoing treatment and surveillance for breast, colorectal and renal cancers.
•Results from the prospective, 949 sample, multi-center MONITOR-Breast study were published in Future Oncology, which the company believes further supports the clinical validity of Precise MRD in breast cancer. The study, which covered patients with Stage I–III breast cancer across all molecular subtypes, reported that ultrasensitive ctDNA monitoring during neoadjuvant therapy provided real-time insight into treatment response and helped identify patients at increased risk for residual disease.

•The company shared data at the American Society of Clinical Oncology (ASCO) (Free ASCO Whitepaper) Annual Meeting underscoring Myriad Genetics’ commitment to the Cancer Care Continuum and highlighting its progress in precision oncology. Multiple presentations showcased the prognostic power of Myriad Genetics’ ultrasensitive MRD assay, including several presentations that reported interim outcomes from the MONSTAR-SCREEN-3 study, led by Dr. Takayuki Yoshino, National Cancer Center Hospital East, Japan. Other presentations focused on ovarian cancer, gastric cancer, head and neck cancer, and sarcoma also demonstrated the emerging clinical utility of ctDNA as a biomarker of recurrence and therapy response. The company believes this data reinforces the scientific strength behind the company’s precision oncology programs and focus on advancing clinically meaningful innovations for patients and providers.
•In July 2026, Myriad Genetics submitted a request to the Molecular Diagnostics Program (MolDX), administered by Palmetto GBA, a Medicare Administrative Contractor (MAC) for the Centers for Medicare & Medicaid Services (CMS), for a Local Coverage Determination (LCD) to establish Medicare coverage of its Precise MRD test for breast cancer patients.
•In July 2026, Myriad Genetics announced newly published data from the largest individual-patient-data meta-analysis of Prolaris to date, involving 14 studies and more than 8,000 patients, which the company believes shows that the Prolaris Biopsy Test adds significant prognostic information beyond conventional clinical risk categories for patients with localized prostate cancer.

Prenatal Health
The Prenatal Health business delivered revenue of $39.8 million in the second quarter of 2026.
•Prenatal testing revenue in the second quarter of 2026 declined 16% year-over-year, as volume decreased 9% year-over-year.
•The multi-site CONNECTOR study, using the company’s FirstGene Multiple Prenatal Screen, continues to see progress in enrollment and the company expects this study, if successful, to support future commercial launch activities and expand capabilities in prenatal testing.
•In July 2026, Myriad Genetics launched the FirstGene Multiple Prenatal Screen, which includes four prenatal genetic screens from a single draw of blood as early as eight weeks gestation. With this launch, Myriad Genetics offers a comprehensive prenatal screening portfolio helping clinicians deliver the right product to the right patient at the right time.

Mental Health
GeneSight test revenue was $36.8 million in the second quarter of 2026.
•Second quarter 2026 revenue decreased 3% year-over-year reflecting 4% year-over-year GeneSight volume growth offset by a 6% year-over-year decline in average revenue per test, which reflects a write-off of aged receivables in the quarter.

Financial Guidance
Myriad Genetics does not provide forward-looking guidance in accordance with accounting principles generally accepted in the United States (GAAP) for the measures on which it provides forward-looking non-GAAP guidance as the company is unable to provide a quantitative reconciliation of forward-looking non-GAAP measures to the most directly comparable forward-looking GAAP measure, without unreasonable effort, because of the inherent difficulty in accurately forecasting the occurrence and financial impact of the various adjusting items necessary for such reconciliations that have not yet occurred, are dependent on various factors, are out of the company’s control, or cannot be reasonably predicted. Such adjustments include, but are not limited to, strategic realignment, costs related to amortization of intangibles from acquisitions, impairment and related charges, depreciation, equity compensation, tax benefits, and other adjustments. For example, stock-based compensation may fluctuate based on the timing of employee stock transactions and unpredictable fluctuations in the company’s stock price. Any associated estimate of these items and their impact on GAAP performance could vary materially.

Below is a table summarizing Myriad Genetics’ full-year 2026 financial guidance*:

(in millions, except percentages)
2026 Guidance
FY 2026 Comments
Revenue $770 – $790 Revised the full-year 2026 revenue range lower, reflecting Q2 results and current business trends.
Adjusted Gross Margin %**
66% – 67% Gross margins expected to fluctuate quarter to quarter given product mix and pricing trends.
*
Assumes currency rates as of July 30, 2026.
**
Adjusted Gross Margin is defined as Gross Margin plus non-cash cost of sales, such as amortization of intangible assets and share-based compensation expense, and non-recurring one-time expenses.

As a result of second quarter 2026 performance and strategic initiatives that are underway, Myriad Genetics is suspending its previous full-year 2026 Adjusted EBITDA guidance and is providing full-year 2026 financial guidance only with respect to Revenue and Adjusted Gross Margin % as set forth above.

These projections are forward-looking statements and are subject to the risks summarized in the safe harbor statement at the end of this press release.

Conference Call and Webcast
A conference call will be held today, Thursday, July 30, 2026, at 4:30 p.m. ET to discuss Myriad Genetics’ financial results and business developments for the second quarter of 2026. A live webcast of the conference call can be accessed on Myriad Genetics’ Investor Relations website at investor.myriad.com. To participate in the live conference call via telephone, please register at View Source Upon registering, a dial-in number and unique PIN will be provided to join the conference call. Following the conference call, an archived webcast of the call will be available at investor.myriad.com.

(Press release, Myriad Genetics, JUL 30, 2026, View Source [SID1234669539])

On July 30, 2026 Labcorp Holdings Inc. (NYSE: LH), a global leader of innovative and comprehensive laboratory services, reported results for the second quarter ended June 30, 2026 and updated its full-year financial guidance.

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"Labcorp delivered another very strong quarter, with 6% revenue growth, significant margin expansion, and double-digit adjusted EPS growth reflecting continued momentum across the business," said Adam Schechter, Chairman and CEO of Labcorp. "During the second quarter, we expanded our leadership in oncology and other high-growth specialty areas, strengthened our position as the partner of choice for health systems, biopharmaceutical companies, and regional/local laboratories, and advanced our use of technology to improve the experience for consumers and providers. Our performance and continued execution position us well to deliver sustainable growth and long-term value for customers and shareholders."

Labcorp continues to advance its strategic priorities:

Lead in specialty testing, with several advancements in Labcorp Oncology:

•Added an advanced DPYD genotyping test that helps identify patients at risk for severe chemotherapy treatment-related toxicity.
•Launched ColoSense nationwide, the first FDA-approved, RNA-based colorectal cancer screening test with at-home collection. With Medicare and expanding commercial payer coverage, this test increases patient access to screening and enables earlier detection. As ColoSense’s primary nationwide distributor, we are further strengthening our comprehensive colorectal cancer portfolio.
•Entered into a clinical trial collaboration with Fox Chase Cancer Center to evaluate Labcorp’s Plasma Detect Genome MRD in patients at risk of early-stage non-small cell lung cancer recurrence.
•Expanded nationwide access to Roche’s FDA-approved VENTANA PTEN (SP218) companion diagnostic for people living with prostate cancer who may now be eligible for combination treatment with AstraZeneca’s targeted therapy TRUQAP.

Be a partner of choice for health systems and regional/local laboratories:

•Awarded once again a Department of Defense contract to provide laboratory testing for service members and their families across military hospitals worldwide.
•Completed the acquisition of select outreach laboratory services from Parkview Health in Indiana and Ohio.
•Completed the acquisition of Tribal Diagnostics, a clinical laboratory serving communities in Oklahoma and Texas.

Grow Consumer Health:

•Announced the Marker by Labcorp Genetic Health Panel through Labcorp OnDemand where consumers can get their biomarker and genetic testing and insights from a single source.
•Introduced Canada’s first at-home, self-collection test to measure women’s fertility-related hormones and men’s testosterone levels.
•Launched an AI-powered app, MyLabcorp, which has been downloaded by millions of consumers. The app allows patients to schedule appointments, view their test results, and gain deeper insights into their health.

Shape our future through technology and innovation:

•Expanded a collaboration with Epic to place 6,500-plus diagnostic tests on Epic’s Aura platform.
•Enhanced the patient experience at Labcorp’s Patient Service Centers, through expanded appointment availability, streamlined scheduling, and proactive rescheduling reminders and assistance.

Labcorp also remains committed to a disciplined allocation of capital. In the second quarter of 2026, the company invested $225.7 million in acquisitions, repurchased $353.8 million of stock, and paid out $58.7 million in dividends. The company also paid down $500.0 million in senior notes in June. On July 9, 2026, the company announced a quarterly cash dividend of $0.72 per share of common stock, payable on September 11, 2026, to stockholders of record at the close of business on August 28, 2026. In July, the Board of Directors approved an increase of $1.0 billion in the company’s share repurchase authorization, bringing the remaining total authorization to $1.4 billion.
3

LABCORP HOLDINGS INC. AND SUBSIDIARIES
CONSOLIDATED RESULTS
Three Months Ended June 30, Six Months Ended June 30,
2026 2025 Delta 2026 2025 Delta
Revenue Summary (Dollars in millions)
Total Revenue $ 3,731.1 $ 3,527.3 5.8 % $ 7,268.7 $ 6,872.4 5.8 %
Organic(1)
4.2 % 3.6 %
Acquisitions, net of Divestitures(2)
1.2 % 1.3 %
Foreign Exchange 0.4 % 0.9 %
(1) Excludes the impact from acquisitions, divestitures, and currency, as well as other strategic actions taken in Early Development.
(2) Includes the impact from strategic actions taken in Early Development.
Earnings Summary (Dollars in millions, except per share data)
Operating Income ("OI") $ 451.6 $ 394.5 $ 832.4 $ 720.5
OI as % of Revenue 12.1 % 11.2 % 90 bps 11.5 % 10.5 % 100 bps
Adjustments (3)
$ 137.1 $ 137.1 $ 264.2 $ 280.1
Adjusted Operating Income ("AOI") (4)
$ 588.7 (5) $ 531.6 $ 1,096.6 $ 1,000.6
AOI as % of Revenue 15.8 % (5) 15.1 % 70 bps 15.1 % 14.6 % 50 bps
Net Earnings Attributable to Labcorp Holdings Inc. $ 298.7 $ 237.9 $ 576.5 $ 450.7
Diluted EPS $ 3.64 $ 2.84 $ 6.99 $ 5.36
Adjusted EPS (4)
$ 4.99 $ 4.35 14.9 % $ 9.24 $ 8.19 12.8 %
(3) Adjustments include amortization, impairment charges, restructuring charges, and special items.
(4) Non-GAAP financial measure. See "Reconciliation of Non-GAAP Measures" for additional information.
(5) The increase in adjusted operating income and margin was due to organic growth and operating efficiencies.

4

LABCORP HOLDINGS INC. AND SUBSIDIARIES
CONSOLIDATED RESULTS
Three Months Ended June 30, Six Months Ended June 30,
2026 2025 2026 2025
Cash Flow Summary (Dollars in millions)
Operating Cash Flow $ 445.5 $ 620.6 $ 637.0 $ 639.1
Capital Expenditures 131.6 77.9 252.6 203.9
Free Cash Flow $ 313.9 (1) $ 542.7 $ 384.4 $ 435.2
(1) The difference in free cash flow was primarily due to working capital timing and planned increases in capital expenditures.

Capital Allocation Summary

•At the end of the quarter, Labcorp’s cash and cash equivalents balance was $141.8 million and total debt was $5.86 billion. In June, we retired $500.0 million in senior notes.
•During the quarter, the company invested $225.7 million in acquisitions, repurchased $353.8 million of stock, and paid out $58.7 million in dividends.
5

LABCORP HOLDINGS INC. AND SUBSIDIARIES
Diagnostics Laboratories Segment Summary

Three Months Ended June 30,
2026 2025 Delta
Revenue Summary (Dollars in millions)
Total Revenue $ 2,900.7 $ 2,748.8 5.5 %
Organic 3.6 %
Acquisitions, net of Divestitures 1.9 %
Earnings Summary (1) (Dollars in millions)
Adjusted Operating Income ("AOI") (2)
$ 522.6 (3) $ 482.8
AOI as % of Revenue 18.0 % (3) 17.6 % 50 bps
(1) Non-GAAP financial measure. See "Reconciliation of Non-GAAP Measures" for additional information.
(2) Excludes amortization, restructuring charges, special items, and unallocated corporate expenses.
(3) Adjusted Operating Income and margin increased due to organic growth and operating efficiencies.

Three Months Ended June 30, 2026
Requisition Price/Mix
Volume Delta (4)
Delta (4)
Metrics Summary
Total 3.0 % 2.5 %
Organic (5)
1.8 % 1.8 %
Acquisitions, net of Divestitures 1.3 % 0.6 %
Foreign Exchange — % — %
(4) Column shows changes versus the three months ended June 30, 2025.
(5) Organic price/mix includes lab management agreements.

6

LABCORP HOLDINGS INC. AND SUBSIDIARIES
Biopharma Laboratory Services Segment Summary
Three Months Ended June 30,
2026 2025 Delta
Revenue Summary (Dollars in millions)
Total Revenue $ 836.2 $ 784.8 6.5 %
(1)
Organic(2)
6.2 %
Acquisitions, net of Divestitures(3)
(1.4) %
Foreign Exchange 1.8 %
(1) Central Labs revenue growth of 9.8%; Early Development revenue was down 1.4%.
(2) Excludes the impact from acquisitions, divestitures, and currency, as well as other strategic actions taken in Early Development.
(3) Includes the impact from strategic actions taken in Early Development.
Earnings Summary (4) (Dollars in millions)
Adjusted Operating Income ("AOI") (5)
$ 142.2
(6)
$ 123.3
AOI as % of Revenue 17.0 %
(6)
15.7 % 130 bps
(4) Non-GAAP financial measure. See "Reconciliation of Non-GAAP Measures" for additional information.
(5) Excludes amortization, restructuring charges, special items, and unallocated corporate expenses.
(6) Adjusted Operating Income and margin increased, driven by organic growth and operating efficiencies from the strategic actions taken in Early Development.

As of
June 30, 2026
Metrics Summary (Dollars in billions)
TTM Net Orders $ 3.32
TTM Book to Bill 1.03
Backlog $ 8.73
(7)
Next Twelve Months Forecast Backlog Conversion $ 2.75

(Press release, LabCorp, JUL 30, 2026, View Source [SID1234669538])

On July 30, 2026 Keros Therapeutics, Inc. ("Keros") (Nasdaq: KROS), a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapeutics to treat a wide range of patients with disorders that are linked to dysfunctional signaling of the transforming growth factor-beta ("TGF-ß") family of proteins, reported that it will receive a $20 million development milestone payment under the terms of the license agreement of elritercept with partner Takeda, following the dosing of the first patient in the ELRiSE MDS clinical trial. ELRiSE MDS is a Phase 3, multicenter, open-label, randomized trial to compare the efficacy and safety of elritercept versus epoetin alfa for the treatment of anemia due to very low, low, or intermediate risk myelodysplastic syndromes ("MDS").

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"We are delighted by the continued progress of the elritercept program," said Jasbir S. Seehra, Ph.D., President and Chief Executive Officer of Keros. "We are encouraged by the positive signals that were observed in the Phase 2 clinical trial of elritercept in patients with very low-, low-, or intermediate-risk MDS, which were observed in patients with MDS both with and without ring sideroblasts."

Under the terms of the global license agreement with Takeda to further develop, manufacture and commercialize elritercept worldwide outside of mainland China, Hong Kong and Macau, which became effective on January 16, 2025, Keros received a $200 million upfront cash payment in February 2025, and is eligible to receive development, commercial and sales milestones with the potential to exceed $1.1 billion. Keros will also be eligible to receive tiered royalties on net sales.

Keros expects to distribute 25% of the net cash proceeds from this milestone payment to its stockholders following receipt of the payment.

About Elritercept

Elritercept is an engineered ligand trap comprised of a modified ligand-binding domain of the TGF-ß receptor known as activin receptor type IIA that is fused to the portion of the human antibody known as the Fc domain. Elritercept is being developed for the treatment of low blood cell counts, or cytopenias, including anemia and thrombocytopenia, in patients with MDS and in patients with myelofibrosis.

(Press release, Keros Therapeutics, JUL 30, 2026, View Source [SID1234669537])