Grail climbs on job cuts

Grail

13/08/2024 23:18

** Shares of cancer test maker Grail  GRAL.O  rise ~13.1% to
$17.92 aftermarket 
    ** Co says it cut 350 jobs as part of a restructuring
program
    ** Says it will focus on the development of its flagship
cancer-detection blood test Galleri
    ** Co expects these cost reductions to extend its existing
cash runway from the second half of 2026 into 2028 and
anticipates reducing its burn in 2025 to $325 million
    ** Up to last close, stock down 9.6% since debut in June

    

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))