Grail is back to being an independent company after a tumultuous few years, and its CEO says it’s making progress toward broader use of its cancer-detection blood test. Illumina, the maker of gene-sequencing equipment, finalized its spin-off of Grail into an independent company on Monday, after being ordered by antitrust regulators to unwind its $8 billion purchase of Grail in 2021. The extended battle between Illumina and regulators weighed on Illumina shares and drew criticism from activist investor Carl Icahn. Grail CEO Bob Ragusa said the company’s near-term focus is to complete key clinical trials to demonstrate the effectiveness of its Galleri multi-cancer early detection test, which can spot signals of more than 50 cancers.
Read the full article: Illumina Finishes Spinning off Cancer-Test Maker Grail //
Source: https://www.wsj.com/livecoverage/stock-market-today-dow-sp500-nasdaq-live-06-24-2024/card/illumina-finishes-spinning-off-cancer-test-maker-grail-AudhRJJk2Id8Qr7r6ahz