Earnings ·
GRAIL Reports Q3 Revenue of $37.5M, Net Loss of $103.6M as FDA Panel Favors Galleri Approval
GRALGRAIL, Inc.
GRAIL reported third-quarter total revenue of $37.5 million, a 4% increase year-over-year, driven by Galleri test revenue growth of 14% to $37.3 million. The company posted a net loss of $103.6 million and an adjusted EBITDA loss of $(92.6) million. Q3 Galleri test volume increased approximately 24% year-over-year to more than 56,000 tests. GRAIL also announced that the FDA's Molecular and Clinical Genetics Panel voted in favor of approval for its Galleri multi-cancer early detection test, with a final FDA decision anticipated by early Q1 2027. The company operates in the healthcare sector, focusing on next-generation sequencing and machine learning to detect multiple deadly cancers at earlier stages.