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Investing.com -- Grail Inc (NASDAQ:GRAL) stock jumped 13.8% in premarket trading Monday after the cancer detection company announced positive long-term results from its SYMPLIFY study and a significant private funding round.
The healthcare company, focused on early cancer detection, revealed that extended follow-up data from its SYMPLIFY study showed 35.4% of participants initially classified as having false positive results were later diagnosed with cancer within 24 months. This reduced false positives from 79 to 51, increasing the positive predictive value of Grail’s Galleri test to 84.2%.
The SYMPLIFY study evaluated the multi-cancer early detection test in over 6,000 individuals who presented with symptoms to primary care and were referred for diagnostic follow-up. In 27 of 28 cases where participants were later diagnosed with cancer, the test’s Cancer Signal Origin prediction correctly identified the cancer type.
Separately, Grail announced it has entered into a securities purchase agreement for a private placement expected to raise approximately $325 million in gross proceeds. The funding round included participation from both new and existing institutional investors, including Deep Track Capital, Farallon Capital Management, Hims & Hers, and Braidwell LP.
The company plans to use the proceeds to fund commercial activities and reimbursement efforts, as well as for working capital and general corporate purposes. Grail believes this funding, along with existing cash reserves, will provide sufficient capital to fund operations into 2030, not including a previously announced $110 million investment from Samsung C&T and Samsung Electronics.
The private placement, which involves issuing 4,639,543 shares of common stock at $70.05 per share, is expected to close on October 21, 2025.
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