By Roshan Fernandez
Shares of Grail fell after the biotechnology and healthcare company reported a narrower first-quarter loss, while revenue rose less than analysts expected.
Shares slid 16% to $35.85 during Tuesday's after hours trading, though the stock is up more than 140% so far this year through the latest close.
The Menlo Park, Calif.-based company narrowed its first quarter-loss to $106.2 million, or $3.10 a share, compared with a loss of $218.9 million, or $7.05 a share, a year earlier.
Analysts polled by FactSet were expecting a loss of $3.99 per share.
The net loss included $34.6 million of amortization of Illumina acquisition-related intangible items.
Revenue rose to $31.8 million from $26.7 million during the year-ago quarter. Analysts were looking for sales of $35.2 million.
Revenue from Galleri, the company's early-detection cancer tests, was up 24% year over year.
Write to Roshan Fernandez at roshan.fernandez@wsj.com
(END) Dow Jones Newswires
May 13, 2025 18:04 ET (22:04 GMT)
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