Spin-off - GRAIL, Inc.
Form Type: 10-Q
Filing Date: 2025-05-14
Corporate Action: Spin-off
Type: Update
Accession Number: 000169903125000114
Filing Summary: GRAIL, Inc. filed a Form 10-Q for the quarterly period ended March 31, 2025. The document covers financial performance with total revenue reported at $31.8 million, an increase from $26.7 million in the same period last year. The company incurred a net loss of $106.2 million, which shows an improvement compared to a loss of $218.9 million from the previous year. GRAIL completed a spin-off from Illumina, Inc. on June 24, 2024, distributing 85.5% of its outstanding common stock to Illumina shareholders, converting from a limited liability company to a corporation. Following the spin-off, Illumina retained a 14.5% ownership stake in GRAIL. The company's cash and cash equivalents at the end of March 2025 were reported at $133.9 million. The document also highlights the organization, structure, and terms of various agreements established as a result of the spin-off, including the Separation and Distribution Agreement and Tax Matters Agreement.
Additional details:
Shares Outstanding: 35973494
Cash And Cash Equivalents: 133895
Total Revenue: 31837
Net Loss: 106213
Additional Paid In Capital: 12321510
Accumulated Deficit: 9909543
Form Type: DEF 14A
Filing Date: 2025-04-15
Corporate Action: Spin-off
Type: New
Accession Number: 000169903125000073
Filing Summary: GRAIL, Inc. filed this definitive proxy statement to solicit votes for its 2025 Annual Meeting of Stockholders scheduled for May 29, 2025. The document highlights GRAIL's significant accomplishments following its separation from Illumina in June 2024, including a successful launch of the Galleri test, which achieved over 137,000 tests sold in 2024 and a 45% increase in revenue. The company is progressing towards FDA product approval with plans for a pre-market approval filing anticipated in the first half of 2026. Additionally, the proxy statement outlines proposals for the election of William Chase as a Class I director, and the ratification of Ernst & Young LLP as the independent public accounting firm for the following fiscal year. Stakeholders are encouraged to vote and the document includes a notice about proxy materials availability and voting procedures.
Additional details:
Record Date: 2025-03-31
Annual Meeting Date: 2025-05-29
Election Of Directors: William (Bill) Chase
Accounting Firm: Ernst & Young LLP
Common Stock Outstanding: 35296858
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