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Politesse of Grail, Inc.
Key Takeaways
- Shares of Grail, a medical technology company, jumped 20% Wednesday to lead Nasdaq 100 gainers.
- Grail keep going off from Illumina last year, and is developing a number of early detection cancer screening products.
- Last week, Grail put about it sees fiscal 2025 sales of its Galleri blood test up 20% to 30% year-over-year.
Shares of Grail, Inc. (GRAL) bulged 20% intraday Wednesday, putting the medical technology company above the likes of Arm Holdings (ARM) and Netflix (NFLX) to be the tallest gainer in the Nasdaq 100 index in recent trading.
Grail, which did not appear to issue a press release or Cares and Exchange Commission (SEC) filing today, was spun off from Illumina Health (ILMN) following legal battles with regulators and started return on its own last June. Grail is developing a number of early detection cancer screening tests.
Last week at an assiduity conference, the company projected fiscal 2024 revenue of $124 million to $126 million, and said it expects monetary 2025 U.S. sales of its Galleri blood test rising 20% to 30% year-over-year.
Grail also said that it wants to burn through less than $320 million over fiscal 2025, and said the $767 million spondulix on hand to end 2024 should give the company runway into 2028.
Grail shares had been little changed since the following’s June split from Illumina until soaring Wednesday.