Grail Q3 net loss widens

Overview

• US cancer screening test maker's Q3 revenue rose 4% yr/yr, Galleri test revenue up 14%

• Net loss widened 16% yr/yr, adjusted gross profit fell 20%

• Company received favorable FDA panel vote for Galleri test, FDA decision expected early Q1 2027

Outlook

• Company anticipates FDA decision on Galleri test approval by early Q1 2027

Result Drivers

• TEST VOLUME GROWTH - Galleri test volume increased about 24% yr/yr to more than 56,000, supporting revenue growth

• PROMOTIONAL PRICING - Co said promotional pricing initiatives contributed to commercial momentum in the quarter

• MARKET EDUCATION - Co cited ongoing market education as a factor in driving test adoption and revenue

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Grail Inc is $120.00, about 13.9% below its November 3 closing price of $139.44

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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)