Cancer-detection company Grail, which counts Jeff Bezos among its investors, files to go public

  • 📰 CNBC
  • ⏱ Reading Time:
  • 42 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 72%

United States News News

United States United States Latest News,United States United States Headlines

Grail spun out of Illumina in 2015 and has a long-term agreement that requires Grail to give a small percentage of its revenue, whenever it comes, to Illumina.

Grail, which is looking to develop a blood test to detect early-stage cancer, has filed to go publicGrail's biggest investor is DNA machine maker Illumina, and Amazon's Jeff Bezos is also an investor.Grail, a start-up trying to develop a blood test to detect early-stage cancer, has filed for an initial public offering of stock.

The biotechnology company reported a $136.4 million loss and no revenue in the first half of 2020. The loss widened from $117.2 million one year earlier. Most of the company's losses come from research and development expenses, including the costs of developing technology and running clinical studies.

"We have never generated revenue from product sales, do not expect any near-term revenue to offset our ongoing operating expenses, and may never be profitable," the company cautioned in Wednesday's filing. Although it's unusual for information technology companies to go public pre-revenue, it's more common in the biotech space, where some young companies use IPOs to raise money to help fund the extensive research and trials necessary for medical products. Among other examples,

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

chrissyfarr Am I reasonable to be concerned that over detection may lead to over treatment? All kinds of data have come out suggesting that millions of men have had their private parts mangled due to overly aggressive treatment for prostate cancer. Could Grail amplify this effect?

Gotta cash in on the stock market mania while the going is good.

$SZLS Already does this. Canada is way ahead in this space.$GNWSF

these day's you can detect cancer with so called computer's but nothing beat's good old fashioned doctor's missing a diagnosis with hammer tap's to the knee

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Jeff Bezos-backed cancer testing company Grail files for U.S. IPOU.S-based cancer testing startup Grail Inc, which has received funding from Amazon.com Inc founder Jeff Bezos, on Wednesday filed for a U.S. initial public offering. dunno, so much a lot of hype... Pretty good.
Source: Reuters - 🏆 2. / 97 Read more »

Jeff Bezos-backed cancer testing company Grail files for U.S. IPOU.S-based cancer testing startup Grail Inc, which has received funding from Amazon.com Inc founder Jeff Bezos, on Wednesday filed for a U.S. initial public offering. dunno, so much a lot of hype... Pretty good.
Source: Reuters - 🏆 2. / 97 Read more »

Tesla stock suffers biggest-ever drop as it starts its second bear market this yearShares of Tesla Inc. suffered Tuesday their biggest loss since going public to kick off the second bear market this year, as investors rode a roller coaster... So you’re saying its on sale? Perfect Fraud is about to come to light It's in a nice point of entry
Source: MarketWatch - 🏆 3. / 97 Read more »