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Illumina's (ILMN) GRAIL to Assess Galleri Test With New Deal
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Illumina, Inc. (ILMN - Free Report) announced that its wholly-owned subsidiary, GRAIL, entered a collaboration with the U.S. Department of Veterans Affairs (VA) Veterans Health Administration and the Veterans Health Foundation to offer Galleri, GRAIL’s multi-cancer early detection (MCED) blood test, to 10,000 veterans across nearly 10 participating VA sites over the next three years. The collaboration is part of REFLECTION, a real-world observational study assessing the performance of the Galleri MCED test in clinical settings.
The Galleri test is a first-of-its-kind MCED blood test. Per a clinical study, the Galleri test demonstrated the ability to detect more than 50 types of cancer. When cancer is detected, the Galleri MCED test predicts the origin of the cancer signal with high accuracy across multiple cancer types, which can then guide diagnostic workup.
More on the Collaboration
Through the collaboration, entitled U.S. military veterans will be able to get the Galleri test and can enroll in GRAIL’s REFLECTION registry. The REFLECTION study will evaluate Galleri’s performance when combined with recommended cancer screenings to detect early cancer in the population.
The REFLECTION study will enroll 35,000 healthy volunteers and assess the performance of Galleri in various clinical settings as part of routine medical care.
Strategic Implications
Cancer is a major issue for U.S. veterans, many of whom are at high risk. The availability of GRAIL’s MCED test to veterans, in addition to the currently recommended screenings, will help in improving early diagnoses and enhanced outcomes.
Image Source: Zacks Investment Research
Per GRAIL’s management, the collaboration with the Veterans Health Foundation and U.S. veterans for real-world evaluation of the Galleri test and its potential to transform early cancer detection is noteworthy. The collaborative participation in the REFLECTION registry study and receiving a Galleri test will lead to cancer diagnoses at an earlier stage when treatment is expected to succeed.
Industry Prospects
Per Reports and Data, the global cancer diagnostics market size was $163.84 billion in 2020 and is expected to reach $268.10 billion by 2028, witnessing a CAGR of 6.3%.
The growing prevalence of various types of cancer across the globe, rising public awareness about the importance of early cancer diagnosis, and technological developments in diagnostic systems are the major factors driving the market.
Recent Developments
In May 2022, GRAIL expanded its partnership with Intermountain Healthcare to provide Galleri — a MCED blood test — to eligible patients based in Utah. Galleri, which is GRAIL’s MCED blood test, will be offered in addition to the existing single cancer screenings to accelerate the delivery of cancer care through early detection.
In February 2022, GRAIL entered an agreement with Point32Health to partner on a two-phased pilot of Galleri multi-cancer early detection blood test. Per GRAIL management, by working with Point32Health, GRAIL is making considerable progress aligning with forward-looking companies to detect cancer early when treatments are more effective and there is the potential for a cure.
Price Performance
Shares of the company have lost 42% in a year compared with the industry's fall of 38%.
Zacks Rank and Key Picks
Illumina currently carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical space are UnitedHealth Group Incorporated (UNH - Free Report) , Medpace Holdings, Inc. (MEDP - Free Report) and Alkermes plc (ALKS - Free Report) .
UnitedHealth, having a Zacks Rank #2 (Buy), reported first-quarter 2022 earnings per share (EPS) of $5.49, which beat the Zacks Consensus Estimate by 1.7%. Its revenues of $80.1 billion outpaced the consensus mark by 14.2%.
UnitedHealth has an estimated long-term growth rate of 14.8%. UNH’s earnings surpassed estimates in the trailing four quarters, the average surprise being 3.7%.
Medpace reported first-quarter 2022 adjusted EPS of $1.69, which surpassed the Zacks Consensus Estimate by 34.1%. Revenues of $330.9 million outpaced the Zacks Consensus Estimate by 1.1%. It currently has a Zacks Rank #2.
Medpace has a historical growth rate of 27.3%. MEDP’s earnings surpassed estimates in the trailing four quarters, the average surprise being 17.1%.
Alkermes reported first-quarter 2022 adjusted EPS of 12 cents, which surpassed the Zacks Consensus Estimate of a penny. Revenues of $278.6 million outpaced the Zacks Consensus Estimate by 6.2%. It currently has a Zacks Rank #2.
Alkermes has an estimated long-term growth rate of 25.1%. ALKS’ earnings surpassed estimates in the trailing four quarters, the average surprise being 350.5%.
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Illumina's (ILMN) GRAIL to Assess Galleri Test With New Deal
Illumina, Inc. (ILMN - Free Report) announced that its wholly-owned subsidiary, GRAIL, entered a collaboration with the U.S. Department of Veterans Affairs (VA) Veterans Health Administration and the Veterans Health Foundation to offer Galleri, GRAIL’s multi-cancer early detection (MCED) blood test, to 10,000 veterans across nearly 10 participating VA sites over the next three years. The collaboration is part of REFLECTION, a real-world observational study assessing the performance of the Galleri MCED test in clinical settings.
The Galleri test is a first-of-its-kind MCED blood test. Per a clinical study, the Galleri test demonstrated the ability to detect more than 50 types of cancer. When cancer is detected, the Galleri MCED test predicts the origin of the cancer signal with high accuracy across multiple cancer types, which can then guide diagnostic workup.
More on the Collaboration
Through the collaboration, entitled U.S. military veterans will be able to get the Galleri test and can enroll in GRAIL’s REFLECTION registry. The REFLECTION study will evaluate Galleri’s performance when combined with recommended cancer screenings to detect early cancer in the population.
The REFLECTION study will enroll 35,000 healthy volunteers and assess the performance of Galleri in various clinical settings as part of routine medical care.
Strategic Implications
Cancer is a major issue for U.S. veterans, many of whom are at high risk. The availability of GRAIL’s MCED test to veterans, in addition to the currently recommended screenings, will help in improving early diagnoses and enhanced outcomes.
Per GRAIL’s management, the collaboration with the Veterans Health Foundation and U.S. veterans for real-world evaluation of the Galleri test and its potential to transform early cancer detection is noteworthy. The collaborative participation in the REFLECTION registry study and receiving a Galleri test will lead to cancer diagnoses at an earlier stage when treatment is expected to succeed.
Industry Prospects
Per Reports and Data, the global cancer diagnostics market size was $163.84 billion in 2020 and is expected to reach $268.10 billion by 2028, witnessing a CAGR of 6.3%.
The growing prevalence of various types of cancer across the globe, rising public awareness about the importance of early cancer diagnosis, and technological developments in diagnostic systems are the major factors driving the market.
Recent Developments
In May 2022, GRAIL expanded its partnership with Intermountain Healthcare to provide Galleri — a MCED blood test — to eligible patients based in Utah. Galleri, which is GRAIL’s MCED blood test, will be offered in addition to the existing single cancer screenings to accelerate the delivery of cancer care through early detection.
In February 2022, GRAIL entered an agreement with Point32Health to partner on a two-phased pilot of Galleri multi-cancer early detection blood test. Per GRAIL management, by working with Point32Health, GRAIL is making considerable progress aligning with forward-looking companies to detect cancer early when treatments are more effective and there is the potential for a cure.
Price Performance
Shares of the company have lost 42% in a year compared with the industry's fall of 38%.
Zacks Rank and Key Picks
Illumina currently carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical space are UnitedHealth Group Incorporated (UNH - Free Report) , Medpace Holdings, Inc. (MEDP - Free Report) and Alkermes plc (ALKS - Free Report) .
UnitedHealth, having a Zacks Rank #2 (Buy), reported first-quarter 2022 earnings per share (EPS) of $5.49, which beat the Zacks Consensus Estimate by 1.7%. Its revenues of $80.1 billion outpaced the consensus mark by 14.2%.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
UnitedHealth has an estimated long-term growth rate of 14.8%. UNH’s earnings surpassed estimates in the trailing four quarters, the average surprise being 3.7%.
Medpace reported first-quarter 2022 adjusted EPS of $1.69, which surpassed the Zacks Consensus Estimate by 34.1%. Revenues of $330.9 million outpaced the Zacks Consensus Estimate by 1.1%. It currently has a Zacks Rank #2.
Medpace has a historical growth rate of 27.3%. MEDP’s earnings surpassed estimates in the trailing four quarters, the average surprise being 17.1%.
Alkermes reported first-quarter 2022 adjusted EPS of 12 cents, which surpassed the Zacks Consensus Estimate of a penny. Revenues of $278.6 million outpaced the Zacks Consensus Estimate by 6.2%. It currently has a Zacks Rank #2.
Alkermes has an estimated long-term growth rate of 25.1%. ALKS’ earnings surpassed estimates in the trailing four quarters, the average surprise being 350.5%.