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ILMN Sep 2024 240.000 put
- Reuters
Illumina to take $1.47 billion goodwill impairment charge related to Grail in Q2
Gene-sequencing equipment maker Illumina said it will likely recognize an additional impairment charge of about $420 million for Grail's in-process research and development intangible (IPR&D) asset in the quarter ended June. In December, activist investor Carl Icahn said Grail's greater-than-expected expenditure and delays in advancing its tests had also forced Illumina to take impairments that totaled $4.7 billion.
- Zacks
Illumina (ILMN) Rises on Conclusion of GRAIL Divestment
With the divestment now over, we expect Illumina (ILMN) to soar again on the assumption that the company will start to focus on its legacy businesses.
- Reuters
Grail bets big on flagship cancer test after spin-off from Illumina
U.S. cancer diagnostic test maker Grail, which will list its shares on the Nasdaq on Tuesday after being spun out of Illumina, is betting that commercial partnerships with health systems, employers and life insurance companies of its flagship cancer-detection test will power its near-term growth as an independent company. The blood test, called Galleri, can detect multiple types of cancer early and looks for 80% of the cancers that are currently not screened for, Grail CEO Bob Ragusa said in a telephone interview on Monday. Ragusa estimates there are about 100 million people in the U.S. that are at elevated risk of being diagnosed with cancer, with another 90 million in the UK, 160 million across the EU and almost 50 million in Japan.
