You may find more results for this query on our sister sites: 360Dx and Precision Oncology News.
The investment firm said that Grail's revenue trajectory is uncertain, and given the firm's operating loss, it will significantly dilute Illumina's earnings.
Along with the downgrade, the investment bank also lowered its December 2021 price target for Illumina from $390 to $280.
Illumina thinks the next-generation sequencing cancer testing market will grow to $75 billion over the next 15 years, driven by screening.
The deal, which was approved by the boards of directors of both companies, is expected to close in the second half of 2021, pending customary conditions.
In 2018 Qiagen purchased a 19.9 percent stake in Ann Arbor, Michigan-based NeuMoDx along with the right to acquire the remaining shares.
Shares of Illumina fell in afternoon trading on the Nasdaq following a brief rise after the market open.
Canopy offers products and services for gene editing, gene expression analysis and regulation, and bioprocessing, as well as a multi-omic immune profiling platform.
Maple Grove, Minnesota-based Stemonix will merge in an all-equity transaction with a newly formed subsidiary of Cancer Genetics, which expects to remain listed on the Nasdaq.
The deal consists of cash, Bionano common stock, and assumption of liabilities. Bionano has also paid off $1.1 million loaned to Lineagen under the CARES act.
Boston-based Cellink will acquire the German firm for €40 million in cash and 2,814,032 newly issued shares valued at €40 million at a price of SEK 146.6 per share.
Novavax has begun a phase III trial of its SARS-CoV-2 vaccine, according to the New York Times.
Vox reports that the Trump Administration may limit student visas for individuals from some countries to two years.
The governor of New York says the state will conduct its own review of any SARS-CoV-2 vaccine, NPR reports.
This week in Science: Neanderthal Y chromosomes replaced by Homo sapiens Y chromosomes, and more.