IlluminaNASDAQ: ILMN

The breakup with GRAIL (GRAL) was costly for Illumina (ILMN).

Illumina has finally completed the divestiture of GRAIL, ending a disastrous chapter in its history. The Company paid $8bn to acquire the cancer testing business it helped to create, which proved to be a disastrous mistake, triggering three years of share price losses. Newly spun-out GRAIL faces challenges in the competitive cancer testing market, while Illumina returns to its profitable gene sequencing business.

Illumina said on Thursday it will take a goodwill impairment charge of $1.47 billion in the second quarter related to the recently spun-off Grail Inc.

On June 25, 2024, Illumina, Inc. (NASDAQ: ILMN, $208.92, Market Capitalization: $18.51 billion) announced the completion of the tax free spin-off of GRAIL, Inc. (NASDAQ: GRAL, $36.84, Market Capitalization: $3.26 billion). On June 25, 2024, both the stocks started regular way trading with, new Illumina opening at $108.24, making an intraday high of $112.49, low of $106.26 and closed at $109.84.

The world of biotech stocks got a new member today. Grail (NASDAQ: GRAL ) has successfully completed its spinoff from industry leader Illumina (NASDAQ: ILMN ).

With the divestment now over, we expect Illumina (ILMN) to soar again on the assumption that the company will start to focus on its legacy businesses.

GRAIL spin-off complete; GRAIL to begin regular way trading as "GRAL" on June 25 Illumina to issue second quarter 2024 results on August 6; leadership to present Strategy Update on August 13 SAN DIEGO , June 24, 2024 /PRNewswire/ -- Illumina, Inc. (NASDAQ: ILMN) today announced the successful completion of the spin-off of GRAIL. This milestone follows the company's previously announced plans to divest GRAIL, and GRAIL is now a public and independent company.

Latest version includes a prebuilt pangenome capturing more genetic diversity, reducing ancestry bias, and improving accuracy SAN DIEGO , June 11, 2024 /PRNewswire/ -- Illumina Inc. (NASDAQ: ILMN), a global leader in DNA sequencing and array-based technologies, today announced the launch of DRAGEN™ v4.3, the latest version of its DRAGEN™ software, part of the Illumina Connected Software portfolio, for analysis of next-generation sequencing data. "We are excited to launch DRAGEN v4.3, with significant enhancements and additions to our analysis tools, empowering researchers and geneticists to maximize the value of the genome," said Rami Mehio, head of Software & Informatics at Illumina.

Dublin, June 10, 2024 (GLOBE NEWSWIRE) -- The "Illumina Inc (ILMN) - Product Pipeline Analysis, 2024 Update" company profile has been added to ResearchAndMarkets.com's offering. This report is a source for data, analysis, and actionable intelligence on the company's portfolio of pipeline products. The report provides key information about the company, its major products and brands. The report enhances decision making capabilities and help to create effective counter strategies to gain competitive advantage. Report Scope