Illumina Inc - ILMN STOCK NEWS

AstraZeneca has partnered with GRAIL to develop companion diagnostic (CDx) assays that will help identify patients with high-risk, early-stage cancer. This collaboration aims to enhance clinical trial recruitment and provide critical information for early-stage cancer treatment. GRAIL's methylation platform will be used in these efforts, with plans for regulatory approvals for liquid biopsy diagnostics. The partnership reflects a commitment to improving patient outcomes in oncology by leveraging innovative blood-based detections.

GRAIL, LLC has partnered with the U.S. Department of Veterans Affairs to offer the Galleri multi-cancer early detection test to 10,000 veterans across 10 sites over three years, starting with the VA Pittsburgh Healthcare System. This collaboration is part of the REFLECTION study, which aims to evaluate the test's performance alongside traditional screenings. The Galleri test can identify signals from over 50 cancer types, which is crucial for earlier and potentially curative treatment.

Illumina has announced the CE-marking of its TruSight™ Oncology Comprehensive (EU) test as the first companion diagnostic for Bayer's VITRAKVI® (larotrectinib) targeting NTRK fusion cancer patients. This comprehensive genomic profiling test can identify multiple tumor gene fusions across various solid tumor types, enhancing patient access to precision therapies. The CDx claim stems from extensive clinical validation involving data from three pivotal trials that support the efficacy of larotrectinib in eligible patients. Illumina plans to expand its CDx offerings through partnerships in oncology.

Illumina (NASDAQ: ILMN) has partnered with Allegheny Health Network (AHN) to evaluate in-house comprehensive genomic profiling (CGP) to enhance cancer care. The collaboration will analyze the effectiveness of blood-based testing compared to traditional tissue samples in identifying genetic variations that affect treatment choices. The study will involve around 1,000 samples across 24 oncology clinics. The project aims to improve patient outcomes by facilitating personalized therapy, with a focus on less invasive procedures. The initiative commenced in 2022 and is expected to last one year.

GRAIL, LLC, in collaboration with Intermountain Healthcare, is introducing the Galleri® multi-cancer early detection blood test, aimed at enhancing cancer care through early detection. Starting this month, eligible patients over 50 or with heightened cancer risk factors will have access to the test. Galleri can detect signals from over 50 cancer types, many of which lack standard screenings, boasting a low false positive rate of under 1%. This partnership aims to advance screening capabilities, reflecting a commitment to proactive cancer care.

A comprehensive analysis of 2 million Medicare beneficiaries reveals that the cost of cancer rises significantly with later diagnosis. Conducted by PHAR and GRAIL, the study indicates that late-stage cancer diagnosis can be up to seven times costlier and that these elevated costs persist for at least five years. Annual cancer care expenses total $1 trillion, highlighting the economic impact of late detection. This research provides crucial insights for healthcare professionals and emphasizes the importance of early diagnosis to mitigate costs.

Illumina reported Q1 2022 revenue of $1.22 billion, a 12% increase year-over-year. However, diluted EPS fell to $0.55 from $1.00 in Q1 2021. Despite these results, the company reaffirms its 2022 revenue growth guidance of 14-16% and expects diluted EPS of $2.33 to $2.53. GRAIL, acquired in 2021, showed promising partnerships but reported an operating loss of $172 million. Illumina continues to advance in oncology and genetic testing, with cash reserves at $1.4 billion.

Illumina (NASDAQ: ILMN) and Deerfield Management have announced a five-year partnership aimed at revolutionizing drug discovery through a genetics-led approach. This collaboration seeks to enhance the identification of therapeutic targets and expedite the development of novel therapies for unmet medical needs. Leveraging genomic tools and artificial intelligence, the partnership aims to reduce the high costs and long timelines associated with drug development, fostering more efficient paths to market for potentially life-saving treatments.

Illumina, Inc. (NASDAQ: ILMN) will participate in the BofA Securities 2022 Healthcare Conference on May 12, 2022. The fireside chat will take place at 12:00pm PT (3:00pm ET). Investors can access the live webcast on Illumina's website in the Investor Info section. A replay will be available for 30 days post-event. Illumina focuses on DNA sequencing and array-based technologies, enhancing human health through genomic insights across several sectors including oncology and agriculture.