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 needs to be learn along side 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 12 months 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 discuss with Myriad Genetics, Inc., a Delaware company, and
its subsidiaries.

Cautionary assertion relating to forward-looking statements


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

Phrases reminiscent of "might," "anticipate," "estimate," "expects," "initiatives," "intends,"
"plans," "believes," "search," "might," "proceed," "doubtless," "will," "technique"
and "aim" and phrases and phrases of comparable substance utilized in reference to any
dialogue of future working or monetary efficiency establish forward-looking
statements. All forward-looking statements are administration's current expectations
of future occasions and are topic to quite a lot of identified and unknown dangers and
uncertainties that might trigger precise outcomes, situations, and occasions to vary
materially and adversely from these anticipated. These dangers embody, 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 products and on our capacity to
effectively and flexibly handle our enterprise;
•the chance that gross sales and revenue margins of our present molecular diagnostic
checks might decline or that we might not be capable to function our enterprise on a
worthwhile foundation;
•dangers associated to our capacity to generate adequate income from our present
product portfolio or in launching and commercializing new checks;
•dangers associated to adjustments in governmental or non-public insurers' protection and
reimbursement ranges for our checks or our capacity to acquire reimbursement for
our new checks at comparable ranges to our present checks;
•dangers associated to elevated competitors and the event of recent competing
checks and providers;
•the chance that we could also be unable to develop or obtain business success for
further molecular diagnostic checks in a well timed method, or in any respect;
•the chance that we might not efficiently develop new markets for our molecular
diagnostic checks, together with our capacity to efficiently generate income exterior
the US;
•the chance that licenses to the know-how underlying our molecular diagnostic
checks and any future checks are terminated or can't be maintained on
passable phrases;
•dangers associated to delays or different issues with working and establishing our
laboratory testing amenities;
•dangers associated to public concern over genetic testing normally or our checks in
specific;
•dangers associated to regulatory necessities or enforcement in the US
and overseas nations and adjustments within the construction of the healthcare system or
healthcare fee methods;
•dangers associated to our capacity 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 capacity 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 chance that we or our licensors could also be unable to guard or that third
events will infringe the proprietary applied sciences underlying our checks;
•the chance of patent-infringement claims or challenges to the validity of our
patents;
•dangers associated to adjustments in mental property legal guidelines masking our molecular
diagnostic checks, or patents or enforcement, in the US and overseas
nations;
•dangers associated to safety breaches, lack of information and different disruptions,
together with from cyberattacks;
•dangers of recent, altering and aggressive applied sciences and rules in the
United States and internationally;
•the chance that we could also be unable to adjust to monetary working covenants
beneath our credit score or lending agreements;
•dangers associated to the fabric weak point associated to our basic info
know-how controls, together with the influence thereof and our remediation plan, and
our lack of ability to realize and preserve efficient disclosure controls and
procedures and inner 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 beneath the heading "Threat Elements" contained in Merchandise 1A
of our Annual Report on Type 10-Okay filed with the U.S. Securities and Trade
Fee on February 25, 2022.

In gentle 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're not beneath 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 regulation. All forward-looking statements in
this Quarterly Report attributable to us or to any particular person 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 medication 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 supply genetic checks that assist assess
the chance 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.

Personalised genetic information and digital and digital client traits are converging
to alter conventional fashions of care. Vital development alternatives exist to
assist affected person populations with urgent well being care wants by means of revolutionary
options and providers. We're at present executing a strategic transformation
and development plan that goals to capitalize on these traits by specializing in three
strategic priorities: (1) innovation that improves scientific outcomes, ease of
use, and entry, (2) enterprise capabilities to speed up development 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've 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 development,
enhance affected person and supplier expertise, and attain extra sufferers of all
backgrounds. By investing in tech-enabled business instruments, we consider we are going to
be capable to drive elevated engagement, enhance income cycle administration, and
cut back complexity and price. We're dedicated to disciplined administration of a key
set of initiatives to meet our mission and drive long-term development and
profitability. With a basis of economic, business, operational and
technological power, we count on to speed up development as we launch a brand new
enterprise business mannequin, launch a unified ordering portal, spend money on new
sequencing applied sciences, additional develop direct-to-consumer channels, and construct
business capabilities to help new merchandise and choices.

Enterprise Updates

Through the ending quarter 30 June 2022 Now we have launched the next latest bulletins:

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

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


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

•on me June 28, 2022Now we have 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 whole income
(in tens of millions)                                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 12 months. Revenues from
Pharmacogenomics elevated $10.5 million in comparison with the identical interval within the
prior 12 months due primarily to a 39% enhance in quantity. Tumor profiling revenues
elevated $3.2 million in comparison with the identical interval within the prior 12 months due
primarily to a 7% enhance in quantity and a 3% enhance in common reimbursement
per take a look at. Prenatal revenues elevated $3.9 million in comparison with the identical interval
within the prior 12 months due primarily to a 17% enhance in common reimbursement per
take a look at. Hereditary Most cancers revenues decreased $6.6 million in comparison with the identical
interval within the prior 12 months resulting from a 4% lower in quantity. Autoimmune revenues
decreased $10.2 million because of the sale of the Myriad Autoimmune enterprise on
September 13, 2021.

Pharmaceutical and scientific providers revenues have 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 through the present interval.

Value of Gross sales

                                                             Three months ended June 30,
(in tens of millions)                                                2022                      2021                Change
Value of molecular diagnostic testing                   $       49.7                 $   48.0          $             1.7

Molecular diagnostic take a look at price as a proportion of income 27.7%

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

Value of pharmaceutical and scientific providers as a proportion of income

                                                           -   %                 53.3  %


The price of molecular diagnostic testing as a proportion of income elevated
from 26.9% to 27.7% through the three months ended June 30, 2022 in comparison with the
similar interval within the prior 12 months. The rise was primarily pushed by the shift in
the product combine for the present interval, a rise in compensation prices resulting from
each a rise within the variety of staff and the price per worker.

The price of pharmaceutical and scientific providers as a proportion 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
through the present interval.


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Analysis and growth expenditures

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

10.3%

Analysis and growth bills for the three months ended 30 June 2022
Slight enhance in comparison with the identical interval within the earlier 12 months primarily resulting from a rise in common compensation per worker.

Promoting, basic and administrative bills


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

Promoting and basic and administrative bills as a proportion of whole 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 12 months primarily resulting from a
$6.3 million lower normally authorized bills, a $3.7 million lower in
amortization expense resulting from intangible belongings bought within the divestitures within the
prior 12 months, 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 resulting from decrease headcount on account of
the divestitures within the prior 12 months, partially offset by a $5.4 million enhance
in advertising bills.

good intention and impairment fees for long-lived belongings


                                                              Three months ended June 30,
(in tens of millions)                                             2022                      2021                 Change
Goodwill and long-lived asset impairment fees     $        -                  $    1.8          $            (1.8)

good intention and impairment fees on long-term belongings as a proportion of whole income

                                          -    %        

1.0%



Goodwill and long-lived asset impairment fees decreased for the three months
ended June 30, 2022 in comparison with the identical interval within the prior 12 months because of the
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 Revenue (Expense), Web

                                        Three months ended June 30,
(in tens of millions)                               2022                       2021          Change
Different revenue (expense), web   $          (0.1)                       $ 17.0      $       (17.1)


Different revenue (expense), web decreased for the three months ended June 30, 2022
in comparison with the identical interval within the prior 12 months due primarily to the $31.2 million
web achieve acknowledged on the sale of the Myriad myPath, LLC laboratory within the
prior interval, partially offset by fees 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 gadgets within the present interval.


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Revenue Tax Expense (Profit)

                                                            Three months ended June 30,
(in tens of millions)                                              2022                         2021                 Change
Revenue tax expense (profit)                        $         (3.8)                 $     0.9          $            (4.7)
Efficient tax charge                                            21.2    %                 (23.7) %


Our tax charge is the product of a blended U.S. federal efficient charge of 21.0%
and a blended state revenue tax charge of roughly 4.2%. Sure vital
or uncommon gadgets are individually acknowledged through the interval through which they happen
and could be a supply of variability within the efficient tax charges from interval to
interval.

Revenue tax profit for the three months ended June 30, 2022 was $3.8 million,
and our efficient tax charge was 21.2%. For the three months ended June 30, 2022,
our acknowledged efficient tax charge differs from the U.S. federal statutory charge
primarily resulting from disallowed government 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
charge differs from the U.S. federal statutory charge primarily resulting from disallowed
government compensation bills, disallowed meals and leisure bills,
the tax influence of the Coronavirus Assist, Aid, and Financial Safety Act (CARES
Act), and launch of a valuation allowance.


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Operational outcomes for the six months ended 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 tens of millions)                                 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 12 months. Income from
Pharmacogenomics elevated $22.2 million in comparison with the identical interval within the
prior 12 months due primarily to a 44% enhance in quantity. Hereditary Most cancers revenues
decreased $11.8 million in comparison with the identical interval within the prior 12 months due
primarily to an 8% lower in quantity. Prenatal revenues elevated $12.1 million
in comparison with the identical interval within the prior 12 months due primarily to a 26% enhance in
the typical reimbursement per take a look at. Tumor Profiling revenues elevated $4.5
million in comparison with the identical interval within the prior 12 months resulting from a 9% enhance in
quantity. Autoimmune revenues decreased $20.6 million because of the sale of the
Myriad Autoimmune enterprise on September 13, 2021.

Pharmaceutical and scientific service revenues have 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 through the present interval.


Value of Gross sales

                                                             Six months ended June 30,
(in tens of millions)                                                 2022                2021                 Change
Value of molecular diagnostic testing                     $      97.7           $   92.1          $              5.6

Molecular diagnostic take a look at price as a proportion of income 28.4%

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

Value of pharmaceutical and scientific providers as a proportion of income

                                                            -   %    

49.2%



The price of molecular diagnostic testing as a proportion of income elevated
from 27.2% to twenty-eight.4% through the six months ended June 30, 2022 in comparison with the
similar interval within the prior 12 months. The rise was primarily pushed by the shift in
the product combine for the present interval, a rise in compensation prices resulting from
each a rise within the variety of staff and the price per worker, and
larger price per take a look at resulting from inflationary pressures.

The price of pharmaceutical and scientific providers as a proportion 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
through the present interval.
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Analysis and growth expenditures

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

%




Analysis and growth expense for the six months ended June 30, 2022
decreased in comparison with the identical interval within the prior 12 months primarily resulting from 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 12 months, partially offset by a rise
in compensation expense.

Promoting, basic and administrative bills


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

Promoting and basic and administrative bills as a proportion of whole 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 12 months primarily resulting from 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 resulting from much less headcount on account of the
divestitures within the prior 12 months, 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 resulting from intangible belongings bought within the divestitures within the prior 12 months,
partially offset by an $8.4 million enhance in gross sales and advertising bills due
to extra in-person gross sales and advertising occasions and travel-related bills within the
present interval and a $1.7 million enhance in stock-based compensation.

good intention and impairment fees for long-lived belongings


                                                           Six months ended June 30,
(in tens of millions)                                                2022                2021                Change

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

   $    1.8          $             8.9

good intention and impairment fees on long-term belongings as a proportion of whole income

                                              3.1   %     

0.5%



Goodwill and long-lived asset impairment fees elevated for the six months
ended June 30, 2022 in comparison with the identical interval within the prior 12 months 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 resolution to now 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 Revenue (Expense), Web

                                      Six months ended June 30,
(in tens of millions)                             2022                   2021          Change
Different revenue (expense), web   $         (0.9)                  $ 14.1      $       (15.0)



Different revenue (expense), web decreased for the six months ended June 30, 2022
in comparison with the identical interval within the prior 12 months due primarily to the $31.2 million
web achieve 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.

Revenue Tax Profit

                            Six months ended June 30,
(in tens of millions)             2022                       2021           Change
Revenue tax profit   $      (9.7)                  $ (9.2)      $        (0.5)
Efficient tax charge          21.9   %                 17.2  %


Our tax charge is the product of a blended U.S. federal efficient charge of 21.0%
and a blended state revenue tax charge of roughly 4.2%. Sure vital
or uncommon gadgets are individually acknowledged through the interval through which they happen
and could be a supply of variability within the efficient tax charges from interval to
interval.

Revenue tax profit for the six months ended June 30, 2022 was $9.7 million, and
our efficient tax charge was 21.9%. For the six months ended June 30, 2022, our
acknowledged efficient tax charge differs from the U.S. federal statutory charge
primarily resulting from disallowed government 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
charge differs from the U.S. federal statutory charge primarily resulting from disallowed
government compensation bills, disallowed meals and leisure bills,
the tax influence of the Coronavirus Assist, Aid, 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 obtainable for borrowing beneath
our Amended Facility. Our capital deployment technique focuses on use of
assets in the important thing areas of analysis and growth, know-how and
acquisitions. We consider that investing organically by means of analysis and
growth or acquisitively to help enterprise technique supplies the very best
return on invested capital.

We consider that our present capital assets shall be adequate to fulfill 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 beneath our Amended Facility, which matures
on July 31, 2023, have been repaid on July 30, 2021 utilizing money generated from
divestitures and as such, we've no excellent borrowings as of June 30, 2022.
Our obtainable capital assets, nevertheless, could also be consumed extra quickly than
at present anticipated, or could also be inadequate, and we might have or wish to elevate
further financing. We might not be capable to safe such financing in a well timed
method or on favorable phrases, if in any respect, and the present rising rate of interest
atmosphere might make any potential financing tougher or costly to
get hold of. As well as, we've a decreased borrowing restrict and are topic to
monetary covenants beneath our Amended Facility, which might restrict our capacity to
incur adequate further indebtedness or influence our resolution to pursue different
financing. With out further funds, we could also be pressured to delay, reduce or
eradicate a few of our gross sales and advertising efforts, analysis and growth
actions, or different operations, and probably delay growth of our
diagnostic checks in an effort to offer adequate funds to proceed our
operations. If any of those occasions happens, our capacity to realize our
growth and commercialization targets may very well be adversely affected.

The Amended Facility restricts our capacity to make future borrowings if
unrestricted money, money equivalents and marketable securities exceed $150.0
million, except 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 whole unrestricted money, money
equivalents, and marketable securities exceeded $150.0 million as of June 30,
2022, we're unable to make future borrowings except 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 mixture undrawn and obtainable quantity of the revolving commitments-of
$150.0 million.

Occasionally, we enter into buy commitments or different agreements that
might materially influence our liquidity place in future intervals. In February
2022, we entered right into a non-cancelable working lease for roughly 230,000
sq. ft in west Salt Lake Metropolis, Utah. The lease has a time period of 15 years,
which, together with hire funds, are anticipated to start within the third quarter
of 2023. Complete future hire funds beneath 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 towards Crescendo Bioscience, LLC and the Firm.

As a result of regularly evolving world scenario from the COVID-19 pandemic, it
shouldn't be attainable to foretell whether or not ongoing penalties of the pandemic are
moderately 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 growth, we're extremely dependent upon our capacity 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 through the 12 months
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 fabric antagonistic impact on our enterprise as an entire. Moreover,
disruptions to our provide chain might trigger shortages of crucial supplies
required to conduct our enterprise, which can have a fabric antagonistic impact on
our enterprise as an entire. As well as, inflation has had, and we count on it's going to
proceed to have, an influence 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 tens of millions)                                            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 fee of withholding
tax for the issuance of widespread inventory, web of proceeds from the issuance of
widespread inventory.

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

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