Illumina, the biggest seller of gene sequencing machines, gave a weak outlook for sales in its central business in 2024. According to the company, genetic testing instruments will continue to see lacklustre demand all year. The tepid demand for tools and services to develop therapies and vaccines came from key markets like China. That weakness is amplified by a conservatism in spending from biotechnology firms in an environment of high interest rates.

Though consumable sales were solid and indicative of increased sequencing activity, CEO Jacob Thaysen called out a weakening demand for instruments in the face of a constrained funding landscape. As such, Illumina now expects its Core Illumina revenue to decline 2 per cent to 3 per cent year-over-year. Earlier, it had expected full-year revenue from the segment to be flat.

On an adjusted basis, Illumina forecasts a core segment per-share profit of $3.80 to $3.95 for 2024, which is near analyst expectations for a full-year adjusted profit of $3.91 per share for the entire company.

Illumina works under two reportable segments: Core Illumina and Grail. Grail, which was spun off on June 24, has been divested following its antitrust problems with both US and European regulators, plus huge opposition from activist investor Carl Icahn. The company had flagged a $1.47 billion goodwill impairment charge in the second quarter related to the Grail spin-off.

San Diego-based Illumina reported quarterly revenues of $1.11 billion for the second quarter, ahead of $1.08 billion that analysts had estimated. The company earned 36 cents a share on an adjusted basis during the quarter ended June 30, missing the average analyst estimate of 90 cents a share.

Illumina is focused on executing a strong consumable sales backdrop that will sustain it through a weakened instrument demand environment. These strategic decisions—like the divestiture of Grail—represent the company's efforts to refocus and renew its core operations within ongoing uncertainties in the markets.

Illumina, the biggest seller of gene sequencing machines, gave a weak outlook for sales in its central business in 2024. According to the company, genetic testing instruments will continue to see lacklustre demand all year.

Illumina, the biggest seller of gene sequencing machines, gave a weak outlook for sales in its central business in 2024. According to the company, genetic testing instruments will continue to see lacklustre demand all year. The tepid demand for tools and services to develop therapies and vaccines came from key markets like China. That weakness is amplified by a conservatism in spending from biotechnology firms in an environment of high interest rates. Though consumable sales were solid and indicative of increased sequencing activity, CEO Jacob Thaysen called out a weakening demand for instruments in the face of a constrained funding landscape. As such, Illumina now expects its Core Illumina revenue to decline 2 per cent to 3 per cent year-over-year. Earlier, it had expected full-year revenue from the segment to be flat. On an adjusted basis, Illumina forecasts a core segment per-share profit of $3.80 to $3.95 for 2024, which is near analyst expectations for a full-year adjusted profit of $3.91 per share for the entire company. Illumina works under two reportable segments: Core Illumina and Grail. Grail, which was spun off on June 24, has been divested following its antitrust problems with both US and European regulators, plus huge opposition from activist investor Carl Icahn. The company had flagged a $1.47 billion goodwill impairment charge in the second quarter related to the Grail spin-off. San Diego-based Illumina reported quarterly revenues of $1.11 billion for the second quarter, ahead of $1.08 billion that analysts had estimated. The company earned 36 cents a share on an adjusted basis during the quarter ended June 30, missing the average analyst estimate of 90 cents a share. Illumina is focused on executing a strong consumable sales backdrop that will sustain it through a weakened instrument demand environment. These strategic decisions—like the divestiture of Grail—represent the company's efforts to refocus and renew its core operations within ongoing uncertainties in the markets.

Illumina says slumping sales in core segment expected as demand softens, economy weighs

A simple blood test named 'Galleri' that can detect more than 50 different types of cancers before they show any clinical signs or symptoms is accurate enough to be used as a multi-cancer screening test, according to scientists.

The company that developed and funded the research, GRAIL, Inc. (California, USA), has recently made the multi-cancer early detection test available in the United States by prescription only. This would supplement other current screening procedures for breast, cervical, prostate, lung, and bowel cancers.&nbsp;

An earlier version of Galleri was shown in clinical testing to be capable of detecting more than 50 forms of cancer with a single blood draw, 45 of which do not have recommended screening.

In total, more than 134,000 individuals have participated in GRAIL's blood test clinical trials. The examination also reveals the location of cancer.&nbsp;

“When a cancer signal is detected in these trials, the test also pinpoints where the cancer is located in the body with high accuracy,” Dr Joshua Ofman, chief medical officer and head of external affairs at GRAIL, told Healthline. “This helps healthcare providers to determine next steps for diagnosis and care.”

Many of the cancers that the test can detect don't really have screening tests, including liver, pancreatic, and esophageal cancers, which are among the most lethal and where early detection could save lives.&nbsp;

(With inputs from agencies)

A simple blood test named 'Galleri' that can detect more than 50 different types of cancers before they show any clinical signs or symptoms is accurate enough to be used as a multi-cancer screening test, according to scientists.

A simple blood test named 'Galleri' that can detect more than 50 different types of cancers before they show any clinical signs or symptoms is accurate enough to be used as a multi-cancer screening test, according to scientists. The company that developed and funded the research, GRAIL, Inc. (California, USA), has recently made the multi-cancer early detection test available in the United States by prescription only. This would supplement other current screening procedures for breast, cervical, prostate, lung, and bowel cancers. An earlier version of Galleri was shown in clinical testing to be capable of detecting more than 50 forms of cancer with a single blood draw, 45 of which do not have recommended screening. In total, more than 134,000 individuals have participated in GRAIL's blood test clinical trials. The examination also reveals the location of cancer. “When a cancer signal is detected in these trials, the test also pinpoints where the cancer is located in the body with high accuracy,” Dr Joshua Ofman, chief medical officer and head of external affairs at GRAIL, told Healthline. “This helps healthcare providers to determine next steps for diagnosis and care.” Many of the cancers that the test can detect don't really have screening tests, including liver, pancreatic, and esophageal cancers, which are among the most lethal and where early detection could save lives. (With inputs from agencies)

This single blood test can detect 50 types of cancer before symptoms emerge

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