hotspot
Illumina said Monday afternoon that its board of directors had approved a spin-off of its cancer test subsidiary Grail, signaling that a nearly four-year-long, $8 billion saga will finally draw to a close this month.
Shares in the newly independent Grail are expected to be distributed on June 24, Illumina said in a statement. Illumina will retain a 14.5% stake in the company, which will trade under the ticker $GRAL.
advertisement
It’s the second time Illumina has spun off Grail, which initially began as a unit within the DNA sequencing giant in 2015. Illumina turned it into an independent company the following year but then agreed to reacquire it for $8 billion in September 2020.
STAT+ Exclusive Story
Already have an account? Log in
This article is exclusive to STAT+ subscribers
Unlock this article — plus daily coverage and analysis of the biotech sector — by subscribing to STAT+.
Already have an account? Log in
Already have an account? Log in
Monthly
$39
Totals $468 per year
$39/month Get StartedTotals $468 per year
Starter
$30
for 3 months, then $39/month
$30 for 3 months Get StartedThen $39/month
Annual
$399
Save 15%
$399/year Get StartedSave 15%
11+ Users
Custom
Savings start at 25%!
Request A Quote Request A QuoteSavings start at 25%!
2-10 Users
$300
Annually per user
$300/year Get Started$300 Annually per user
View All Plans
Get unlimited access to award-winning journalism and exclusive events.
Subscribe Log InNext article： Cancer drug shortages should be causing more outrage
