Grail Q2 revenue rises 26%, net loss narrows 3%
GRAL•Analyst coverage
- The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
- The average consensus recommendation for the biotechnology & medical research peer group is "buy"
- Wall Street's median 12-month price target for Grail Inc is $63.07, about 13.3% below its August 4 closing price of $72.70
Q2 revenue and loss
- US cancer screening test maker's Q2 revenue rose 26% yr/yr, Galleri test revenue up 24%
- Net loss for Q2 narrowed 3% from prior year
- Company completed $110 mln equity financing with Samsung to expand in Asia
| Metric | Beat/Miss | Actual | Consensus Estimate |
| Q2 Net Loss | $110.25 mln | ||
| Q2 Income from Operations | -$173.78 mln | ||
| Q2 Loss Per Basic Share | $2.56 | ||
| Q2 Pretax Loss | $166.71 mln |
Outlook and growth drivers
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Company anticipates FDA advisory committee review of Galleri test PMA application in the fall
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Company plans to expand Galleri test commercialization in South Korea and potentially other Asian markets
