Illumina Inc Stock Price, News & Analysis

Illumina announced the spin-off of GRAIL, scheduled for June 24, 2024, with GRAIL applying to list on Nasdaq as 'GRAL.' Illumina will distribute 85.5% of GRAIL's shares to its shareholders, retaining a 14.5% stake. Shareholders will receive one GRAIL share for every six Illumina shares held as of June 13, 2024, with trading on a 'when-issued' basis beginning around June 12, 2024. Regular trading for GRAIL commences on June 25, 2024. Fractional GRAIL shares will be sold, and proceeds distributed to shareholders. Illumina assures no U.S. federal income tax implications for shareholders, except for cash received in lieu of fractional shares.

Illumina (NASDAQ: ILMN) has appointed Everett Cunningham as Chief Commercial Officer (CCO), effective June 10, 2024. Cunningham brings over 20 years of commercial leadership experience across healthcare tech, life sciences, and pharmaceuticals, having previously served as CCO at Exact Sciences. He has also held senior roles at Quest Diagnostics, GE Healthcare, and Pfizer. Cunningham will be responsible for managing and guiding Illumina's global commercial operations. He succeeds Bas Verhoef, who will continue as Head of Region for Europe. CEO Jacob Thaysen expressed optimism about Cunningham's potential to advance Illumina's mission in genomics.

Illumina, a leader in DNA sequencing, announced significant research at the ASCO Annual Meeting (May 31–June 4, 2024). Key highlights include collaborations with Labcorp and Sarah Cannon Research Institute (SCRI) on comprehensive genomic profiling (CGP) and molecular residual disease (MRD) assays. Illumina presented 14 abstracts, showcasing CGP's superiority over single-gene testing (SGT) in non-small-cell lung cancer (NSCLC). MRD assay data highlighted its rapid turnaround, minimal sample needs, and high sensitivity. The research aims to enhance genomic testing accessibility in oncology, supporting precision medicine goals.

Illumina published its fifth annual Corporate Social Responsibility (CSR) Report, showcasing progress in 2023 across key focus areas: genomics access, community nurturing, environmental stewardship, and responsible operations. Notable achievements include training over 27,000 healthcare professionals, maintaining zero net pay gap, achieving 45% female workforce representation, and using 100% renewable electricity. Key product launches like NovaSeq™ X Series and TruSight™ Oncology 500 ctDNA v2 were also highlighted. Additionally, Illumina's core facilities underwent third-party audits, and the company achieved significant data privacy certifications.

Integrated Biosciences has joined Illumina Ventures Labs to accelerate the development of novel therapeutics targeting the transcriptome.

This partnership merges Integrated Biosciences' AI/ML-enabled drug discovery with Illumina's sequencing technologies.

The collaboration aims to discover small molecule therapeutics for age-related diseases by altering RNA expression and DNA modifications.

Felix Wong, Ph.D., co-founder of Integrated Biosciences, states that the partnership will generate large-scale datasets to map and alter cell states, targeting age-related diseases.

Ron Mazumder, Ph.D., Partner at Illumina Ventures, emphasizes the investment's potential to unlock new therapeutic candidates and modalities.

Illumina (NASDAQ: ILMN) announced the addition of Anna Richo to its Board of Directors, following shareholder approval at the annual meeting on May 16, 2024.

Richo brings over 30 years of global experience in legal, compliance, and regulatory roles, having served in senior positions at Cargill, UCB, Amgen, and Baxter Healthcare.

Illumina's CEO, Jacob Thaysen, highlighted Richo's expertise in biotechnology, biopharmaceutical, and medtech industries, which will aid in navigating the complexities of the company’s global operations.

Richo also holds director positions at Exelon, the Cargill Foundation, DePaul University, and Children's Minnesota Governance Board, and possesses degrees from Cornell University and DePaul University College of Law.

Illumina announced that its executives will be participating in Bernstein's 40th Annual Strategic Decisions Conference on May 29, 2024. The event will feature a fireside chat at 6:00am Pacific Time (9:00am Eastern Time). The webcast can be accessed via the Investor Info section of the Illumina website, with a replay available for 30 days post-event.

GRAIL, a healthcare company focused on early cancer detection, will host a virtual Capital Markets Day to discuss growth drivers for its Galleri multi-cancer early detection test. Illumina plans to divest GRAIL by the end of Q2 2024, making GRAIL a publicly traded company on Nasdaq under the ticker 'GRAL'.

Illumina, Inc. (NASDAQ: ILMN) has filed a Form 10 registration statement with the SEC for the divestiture of GRAIL. The filing includes detailed financial and business information about GRAIL. Illumina aims to finalize the divestiture terms by the end of Q2 2024. GRAIL will host a virtual Capital Markets Day on May 13, 2024, to discuss its multi-cancer early detection test and business strategy.