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Grail Q3 net loss widens

By Reuters News


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

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Net Loss

$103.57 mln

Q3 Income from Operations

-$144.62 mln

Q3 Loss Per Basic Share

$2.21

Q3 Pretax Loss

$137.32 mln


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


Reuters Recommended Reads

  • Nov 2 - FDA to review uniQure's Huntington's gene therapy, decision due on May 2027

  • Nov 2 - Cerus Q3 adjusted EBITDA beats analyst estimates on higher IFC sales, platelet franchise strength

  • Nov 2 - IDEXX Laboratories Q3 revenue beats estimates, lifts FY profit outlook


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.)

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