ILMN Stock Recent News

The breakup with GRAIL (GRAL) was costly for Illumina (ILMN).

Illumina has finally completed the divestiture of GRAIL, ending a disastrous chapter in its history. The Company paid $8bn to acquire the cancer testing business it helped to create, which proved to be a disastrous mistake, triggering three years of share price losses. Newly spun-out GRAIL faces challenges in the competitive cancer testing market, while Illumina returns to its profitable gene sequencing business.

Illumina said on Thursday it will take a goodwill impairment charge of $1.47 billion in the second quarter related to the recently spun-off Grail Inc.

On June 25, 2024, Illumina, Inc. (NASDAQ: ILMN, $208.92, Market Capitalization: $18.51 billion) announced the completion of the tax free spin-off of GRAIL, Inc. (NASDAQ: GRAL, $36.84, Market Capitalization: $3.26 billion). On June 25, 2024, both the stocks started regular way trading with, new Illumina opening at $108.24, making an intraday high of $112.49, low of $106.26 and closed at $109.84.

With the divestment now over, we expect Illumina (ILMN) to soar again on the assumption that the company will start to focus on its legacy businesses.

The world of biotech stocks got a new member today. Grail (NASDAQ: GRAL ) has successfully completed its spinoff from industry leader Illumina (NASDAQ: ILMN ).

Shares of Grail fell as much as 11.7% in their market debut on Tuesday after being spun out of gene-sequencing company Illumina.

U.S. cancer diagnostic test maker Grail, which will list its shares on the Nasdaq on Tuesday after being spun out of Illumina , is betting that commercial partnerships with health systems, employers and life insurance companies of its flagship cancer-detection test will power its near-term growth as an independent company.

GRAIL spin-off complete; GRAIL to begin regular way trading as "GRAL" on June 25 Illumina to issue second quarter 2024 results on August 6; leadership to present Strategy Update on August 13 SAN DIEGO , June 24, 2024 /PRNewswire/ -- Illumina, Inc. (NASDAQ: ILMN) today announced the successful completion of the spin-off of GRAIL. This milestone follows the company's previously announced plans to divest GRAIL, and GRAIL is now a public and independent company.

One of the standout features of Illumina's (ILMN) DRAGEN v4.3 is its machine-learning mosaic model.