2024-06-26 09:02:26 ET
Summary
- GRAIL shares started trading on Nasdaq after a spin-off from Illumina, as the EU's regulatory scrutiny weighed on the prior merger.
- The company offers the Galleri blood test for early cancer detection, with major sales potential still behind MCED legislation, FDA approval, and medical plan reimbursement implementation.
- The industry has fierce competition among MCED tests between companies, adding significantly to GRAIL's competitive risks.
- GRAL stock has started trading at an intriguing valuation - the market cap is only a fraction of Illumina's 2021 acquisition sum, and nearly double the company's cash position.
GRAIL, LLC ( GRAL ) shares started trading on Nasdaq on the 25 th of June. The company was spun off from Illumina, Inc. ( ILMN ) as the European Commission was worried about the combined company’s dominant position in the blood-based early cancer detection test market, and forced the prior 2021 acquisition by Illumina to be reversed. The companies had already had a significant prior history together and as separate entities....
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GRAIL: Ambitious Illumina Spin-Off Trading At Intriguing Valuation