Yahoo Finance Illumina's (ILMN) GRAIL to Offer Galleri Test in Indianapolis
Illumina, Inc.’s ILMN subsidiary GRAIL, LLC, recently initiated a collaboration with Community Health Network based in Indianapolis. Through the collaboration, Galleri-- GRAIL’s multi-cancer early detection (MCED) blood test--will be made available to individuals across Community Health Network's sites of care. It is worth noting that Community Health Network will become the first healthcare system to offer the Galleri test in the central Indiana region.
Community Health Network will offer the Galleri test to patients with a high risk for cancer, including those aged over 50 years. In addition to existing single cancer screenings, the test will be available to eligible individuals through their primary care providers at select Community Health Network sites.
The management at Community Health Network believes that MCED tests like Galleri represent cutting-edge innovation, which, together with appropriate screenings and care, can give cancer patients across its communities the best prospects for successful outcomes.
A Detailed View on Galleri
The Galleri test is a first-of-its-kind MCED blood test that can be administered with a simple blood draw and other cancer screenings. The test can screen for more cancers at earlier stages when there are better chances for successful treatment.
Clinical research showed that the Galleri test could identify a shared signal from over 50 different cancer forms (more than 45 of which do not have recommended screening tests currently). The test can also detect the source of the cancer signal by leveraging cutting-edge genetics and machine learning.
Image Source: Zacks Investment Research
Per GRAIL’s management, using the Galleri test to complement current screening methods can improve population cancer detection and enhance public health.
Industry Prospects
Per a report by MarketsandMarkets, the global cancer diagnostics market is expected to see a CAGR of 11.5% from 2021 to 2026. Factors such as the growing prevalence of cancer and an increasing number of private diagnostic laboratories are driving the market.
Given the market prospects, GRAIL’s latest collaboration to offer the Galleri test across communities in Indianapolis seems well-timed.
Other Notable Developments
This month, Illumina announced the launch of a research test co-developed with Merck. The new research test, also known as MSD outside the United States and Canada, enhances the TruSight Oncology 500 assay with an added assessment of a new genomic signature. By identifying genetic mutations used in the evaluation of homologous recombination deficiency (HRD), the test will allow researchers to gain deeper insights into the tumor genome.
In May 2022, the company added a companion diagnostic (CDx) indication to its CE-marked in vitro diagnostic TruSight Oncology (TSO) Comprehensive (EU) test. The CDx pan-cancer indication will identify cancer patients with solid tumors positive for neurotrophic tyrosine receptor kinase (NTRK) gene fusions, including NTRK1, NTRK2 or NTRK3. The patients would benefit from targeted therapy with Bayer's VITRAKVI (larotrectinib) in line with the authorized therapeutic labeling.
Price Performance
The stock has underperformed its industry in the past year. It has dropped 60.4% compared with the industry’s 39.2% fall.
Zacks Rank and Key Picks
Currently, Illumina carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical space that investors can consider are AMN Healthcare Services, Inc. AMN, Novo Nordisk NVO and Omnicell, Inc. OMCL.
AMN Healthcare has a long-term earnings growth rate of 1.1%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 15.6%, on average. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AMN Healthcare has outperformed its industry in the past year. AMN has gained 14.9% against the industry’s 44.7% fall.
Novo Nordisk has a long-term earnings growth rate of 14.5%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 7.6%, on average. It currently flaunts a Zacks Rank #2 (Buy).
Novo Nordisk has outperformed its industry in the past year. NVO has gained 29.3% against the industry’s 16.6% growth.
Omnicell has an estimated long-term growth rate of 20%. Omnicell’s earnings surpassed estimates in three of the trailing four quarters and missed the same in the other, the average beat being 13.4%. It carries a Zacks Rank #2 at present.
Omnicell has outperformed its industry in the past year. OMCL has lost 20.7% compared with the industry’s 55% fall over the past year.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Novo Nordisk AS (NVO) : Free Stock Analysis Report
Omnicell, Inc. (OMCL) : Free Stock Analysis Report
Illumina, Inc. (ILMN) : Free Stock Analysis Report
AMN Healthcare Services Inc (AMN) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
