NEW YORK (GenomeWeb News) – Myriad Genetics announced after the close of the market on Monday that its board has approved a new $200 million stock repurchase program.
The board had previously approved a $100 million stock buyback program in March.
Repurchases under the new program will be made through open market or privately negotiated purchases. The amount and timing of the repurchases will depend on a number of factors including business and market conditions, trading restrictions, acquisition activity, and stock price, the Salt Lake City company said.
As of June 30, Myriad had more than $417 million in cash, cash equivalents, and marketable securities.