Once Valued At Around $7B, Cancer Blood Test Developer Grail To Kickstart Trading On NASDAQ
Portfolio Pulse from Vandana Singh
Illumina Inc. (NASDAQ:ILMN) announced the spin-off of Grail Inc. (NASDAQ:GRAL), a cancer blood test developer, which will start trading independently on NASDAQ. Illumina shareholders will receive one share of GRAL for every six shares of ILMN. Illumina will retain a 14.5% stake in Grail. The spin-off follows regulatory challenges and a significant fine from the European Commission. Grail's CEO highlighted the potential of their cancer blood test, Galleri, which is undergoing clinical trials to support FDA approval by 2026.
June 25, 2024 | 11:17 am
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Illumina Inc. (NASDAQ:ILMN) has spun off Grail Inc., retaining a 14.5% stake. ILMN shareholders receive one share of GRAL for every six shares of ILMN. The move follows regulatory challenges and a significant fine from the European Commission.
The spin-off of Grail allows Illumina to focus on its core business while retaining a stake in Grail. The regulatory challenges and fines may have a neutral short-term impact, but the long-term outlook depends on Grail's success.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 80
POSITIVE IMPACT
Grail Inc. (NASDAQ:GRAL) begins trading independently on NASDAQ following its spin-off from Illumina. The company is focused on its Galleri cancer blood test, which is in clinical trials for FDA approval by 2026.
The independent trading of Grail on NASDAQ is a significant milestone. The company's focus on its Galleri cancer blood test, which is in clinical trials, positions it for potential growth, especially if FDA approval is achieved.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100