ILMN Jul 2024 111.000 call
- Investing.com
Gene-sequencing group Illumina sees $1.47 bn Q2 impairment charge linked to Grail
Investing.com -- Gene-sequencing firm Illumina (NASDAQ:ILMN) said it would take goodwill impairment charge of $1.47 billion in its second quarter linked to its recently spun-off cancer diagnostic test manufacturer Grail (NASDAQ:GRAL).
- Reuters
Illumina to take $1.47 billion goodwill impairment charge related to Grail in Q2
Gene-sequencing equipment maker Illumina said it will likely recognize an additional impairment charge of about $420 million for Grail's in-process research and development intangible (IPR&D) asset in the quarter ended June. In December, activist investor Carl Icahn said Grail's greater-than-expected expenditure and delays in advancing its tests had also forced Illumina to take impairments that totaled $4.7 billion.
- Zacks
Illumina (ILMN) Rises on Conclusion of GRAIL Divestment
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.
