Early-stage cancer detection startup Grail, which has investors including Amazon CEO Jeff Bezos, has actually submitted to go public, according to a Sept. 9 CNBC report..
Jackie Drees –
Thursday, September 10th, 2020
1. DNA-sequencing machine designer Illumina released Grail in 2015; considering that then, the startup has actually raised more than $2 billion from investors consisting of Mr. Bezos and Johnson & & Johnson..
2. Grail is focused on establishing a blood test that can discover early-stage cancer. In its IPO filing, the startup said it plans to increase production of its test, called Galleri, next year as a laboratory developed test..
3. Grail also prepares to use funding raised from its IPO to back massive scientific trials, which are required to show the safety and effectiveness of its blood test..
4. The startup published a $136.4 million loss and no revenue during the very first 6 months of fiscal year 2020. Grail stated the majority of its losses are because of research study and development expenses..
5. Biotech business going public pre-revenue is more typical than other markets because the companies use their IPOs to raise cash that assists money the research study and trials needed for medical products, according to the report..
Grail is focused on developing a blood test that can find early-stage cancer. The start-up posted a $136.4 million loss and no revenue throughout the first 6 months of fiscal year 2020. © Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content?
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