Grail falls after Q1 revenue miss

Grail

14/05/2025 14:50

** Shares of cancer diagnostic maker Grail GRAL.O down 14.5% at $36.66

** Company late on Tuesday reported Q1 revenue of $31.8 million, missing analysts' average expectation of $35.2 million - data compiled by LSEG

** GRAL reported quarterly loss of $3.10/shr vs estimates for loss of $4.09/shr

** "We think the company will benefit from upcoming catalysts and its 'trailblazer' advantage in multi-cancer early detection (MCED)," brokerage Canaccord Genuity says

** Galleri is a blood test designed to detect more than 50 types of cancer and it is currently sold only in the U.S.

** GRAL continues to expect to generate U.S. Galleri y-o-y revenue growth of 20% to 30% in 2025

** Brokerage raises long-term Galleri revenue estimates and says "we believe the shares do not reflect the company's growth potential, as we see it"

** Including session's moves, stock up 140.3% YTD

(Reporting by Siddhi Mahatole)

((siddhi.mahatole@thomsonreuters.com))