US stock futures slid on Friday as investors digested economic data that showed US economic growth cooling in the fourth quarter, while the Fed's favored inflation gauge heated up to end last year. Wall Street also kept an eye out for US-Iran tensions, private credit jitters, and a potential Supreme Court tariff decision. Contracts on the S&P 500 (ES=F) moved down roughly 0.3%, while Dow Jones Industrial Average futures (YM=F) fell 0.2%, coming off the end of a three-day winning streak on Thursday. Nasdaq ...

US stocks slid on Friday as investors digested economic data that showed US economic growth cooling in the fourth quarter, while the Fed's favored inflation gauge heated up to end last year. Wall Street also kept an eye out for US-Iran tensions, private credit jitters, and a potential Supreme Court tariff decision. The S&P 500 (^GSPC) moved down roughly 0.3%, while the Dow Jones Industrial Average (^DJI) fell by a steeper 0.4%, coming off the end of a three-day winning streak on Thursday. The Nasdaq Compo ...

GRAIL (NasdaqGS:GRAL) Q4 2025 Earnings call February 19, 2026 05:00 PM ET Company ParticipantsAaron Freidin - CFOAlex Dobbin - Director and Investor Relations ContactBob Ragusa - CEODoug Schenkel - Managing Director of Life Science Tools and DiagnosticsHarpal Kumar - Chief Scientific Officer and President of InternationalJoshua Ofman - PresidentSubbu Nambi - Managing DirectorConference Call ParticipantsCatherine Schulte - Senior Research AnalystDan Brennan - Senior Equity Research AnalystKyle Mixon - Diagno ...

GRAIL (NasdaqGS:GRAL) Q4 2025 Earnings call February 19, 2026 05:00 PM ET Company ParticipantsAaron Freidin - CFOAlex Dobbin - Director and Investor Relations ContactAndy Partridge - Chief Commercial OfficerBob Ragusa - CEODoug Schenkel - Managing Director of Life Science Tools and DiagnosticsJosh Ofman - PresidentSir Harpal Kumar - Chief Scientific Officer and President of InternationalSubbu Nambi - Managing DirectorConference Call ParticipantsCatherine Schulte - Senior Research AnalystDan Brennan - Senior ...

GRAIL (NasdaqGS:GRAL) Q4 2025 Earnings call February 19, 2026 05:00 PM ET Speaker5Good day, ladies and gentlemen, and welcome to the GRAIL Fourth Quarter 2025 earnings call. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question and answer session. Please be advised that this conference call is being recorded. GRAIL Investor Relations, please begin.Speaker1Thank you, operator, and thank you all for joining us today. On the call are Bob Ragusa, our ...

Core Insights - GRAIL, Inc. reported significant commercial growth in 2025, with total revenue increasing by 17% year-over-year to $147.2 million and U.S. Galleri revenue growing by 26% to $136.8 million [1][4] - The company completed its Premarket Approval (PMA) submission to the FDA for the Galleri test and shared positive topline results from the NHS-Galleri trial, indicating a substantial reduction in Stage IV cancer diagnoses [1][2] - GRAIL's financial position remains strong, with cash and cash equivalents totaling $904.4 million as of December 31, 2025, providing financial flexibility for future growth [1][4] Financial Performance - For Q4 2025, total revenue was $43.6 million, a 14% increase year-over-year, while U.S. Galleri revenue reached $41.3 million, up 31% [1][4] - The net loss for Q4 2025 was $99.2 million, which includes $34.6 million in amortization related to the Illumina acquisition [1][4] - For the full year 2025, the net loss was $408.4 million, an improvement of $1.6 billion or 80% compared to the previous year [1][4] Business Highlights - GRAIL expanded access to the Galleri test through partnerships with digital health platforms, including the launch of the Hims & Hers Multi-Cancer Test [1][2] - The company completed the analysis of the full 35,000 participant PATHFINDER 2 study, demonstrating consistent performance with earlier results [1][2] - The NHS-Galleri trial results showed that adding Galleri to standard care screening significantly increased the detection rates of early-stage cancers [1][2] Cash Position - As of December 31, 2025, GRAIL had cash, cash equivalents, and short-term marketable securities totaling $904.4 million, ensuring operational sustainability into 2030 [1][4] Future Outlook - GRAIL anticipates continued commercial growth in 2026, with plans for new partnerships in digital health and further integration into health systems [1][2] - Detailed results from the PATHFINDER 2 and NHS-Galleri trials are expected to be presented in mid-2026 [1][2]

Core Insights - The NHS-Galleri trial demonstrated a significant reduction in Stage IV cancer diagnoses and an increase in the detection of Stage I and II cancers, although the primary endpoint of statistically significant reduction in Stage III-IV cancers was not met [1][2] Group 1: Trial Results - The Galleri test led to a substantial reduction in cancers detected through emergency presentations, which are linked to higher mortality and healthcare costs [1] - There was a notable increase in the absolute number of Stage I-II cancers among 12 pre-specified deadly cancer types in the intervention group [1] - The overall cancer detection rate improved four-fold when Galleri was added to standard care screening compared to standard care alone for breast, colorectal, cervical, and high-risk lung cancers [1] - A clinically meaningful reduction in Stage IV diagnoses was observed, with over a 20% decrease in the second and third rounds of sequential screening for the specified group of cancers [1][2] Group 2: Trial Design and Objectives - The NHS-Galleri trial is the largest randomized controlled trial assessing a multi-cancer early detection test, involving over 142,000 participants aged 50 to 77 [2] - The primary objective was to show a reduction in late-stage (III-IV) cancers in those receiving the Galleri test compared to those who did not [2] - Secondary objectives included evaluating the performance of the Galleri test, safety, and healthcare resource utilization [2] Group 3: Company and Product Information - GRAIL, Inc. focuses on early cancer detection using next-generation sequencing and machine learning to identify multiple cancer types at earlier stages [2] - The Galleri test can detect over 50 types of cancer through a simple blood draw, significantly increasing the number of cancers detected when used alongside standard screenings [2] - The test is recommended for adults aged 50 or older with an elevated risk for cancer and has the lowest false positive rate among multi-cancer early detection tests [2]

Core Insights - GRAIL, Inc. will announce its financial results for the fourth quarter and full year 2025 on February 19, 2026, after market close [1] - A webcast and conference call will be held at 2:00 p.m. PT / 5:00 p.m. ET to discuss the results and business progress [1] Company Overview - GRAIL is a healthcare company focused on early cancer detection, aiming to alleviate the global burden of cancer [1] - The company utilizes next-generation sequencing, population-scale clinical studies, and advanced machine learning to identify multiple cancer types at earlier stages [1] - GRAIL's platform supports various aspects of cancer care, including multi-cancer early detection, risk stratification, and treatment monitoring [1] - The company is headquartered in Menlo Park, California, with additional locations in Washington, D.C., North Carolina, and the United Kingdom [1]

Core Viewpoint - The Super Bowl advertisement by Hims & Hers has raised concerns regarding the reliability and ethical implications of its newly launched cancer-detection test, which aims to detect over 50 types of cancer before symptoms appear [1][2]. Product Overview - The cancer-detection test, developed by Grail Inc., is designed to identify hard-to-detect cancers such as pancreatic and ovarian, which currently lack routine screening options [2]. - The advertisement suggests that the test democratizes access to healthcare, providing the same opportunities for cancer detection to all individuals, regardless of their socioeconomic status [2]. Reliability Concerns - Critics have questioned the test's reliability, noting that Grail Inc. recommends follow-up medical testing to confirm any cancer diagnosis [3]. - Interim results indicate that the test detects approximately 40% of cancers, meaning it misses more than half of cases even when cancer is present [3]. Expert Opinions - Eric Topol from Scripps Research acknowledged that the test could be beneficial for individuals at high risk of cancer but cautioned that widespread use might lead to financial waste and misleading results [4]. Pricing and Accessibility - Hims & Hers plans to offer the test to subscribers of its $350 lab service at a price of $700, which is about a 25% discount from the manufacturer's list price [4]. Regulatory Status - Grail has sought approval from the FDA under the most stringent regulatory pathway for medical devices and diagnostics [5]. Financial Performance - Hims & Hers reported disappointing Q3 earnings, with an EPS of 6 cents, missing estimates, while revenue reached $598.97 million, exceeding expectations [6]. - The company has guided fourth-quarter revenue below consensus and adjusted its 2025 revenue outlook to align with analyst forecasts [6]. Market Performance - Hims & Hers is ranked in the 87th percentile for growth and the 7th percentile for value, indicating mixed performance [7]. - Over the past year, the stock has declined by 48.58%, closing at $23.02 after a 1.96% drop on the last trading day [7].

Core Insights - GRAIL, Inc. has submitted the final module of its premarket approval application to the FDA for the Galleri multi-cancer early detection test, which has received Breakthrough Device designation since 2018, indicating its potential to enhance early cancer detection [2][5] - The PMA submission is based on data from the PATHFINDER 2 study and the NHS-Galleri trial, which collectively involved over 25,000 participants, aiming to improve cancer detection rates, especially for high-mortality cancers that lack routine screening options [3][7][11] Company Developments - The Galleri test is positioned to significantly impact public health by improving early cancer detection rates, particularly for cancers diagnosed at advanced stages [3][5] - GRAIL's stock has seen a substantial increase of 195.1% over the past six months, outperforming the industry and S&P 500 [4] - The company currently has a market capitalization of $3.94 billion [6] Clinical Studies and Data - The NHS-Galleri trial enrolled over 140,000 asymptomatic individuals aged 50-77, focusing on reducing stage III-IV cancer diagnoses and assessing the test's performance across multiple cancer types [8] - The PATHFINDER 2 study aims to evaluate the safety and performance of the Galleri test in 35,000 participants, with primary endpoints related to diagnostic procedures following a cancer signal detected result [9][10] Market Prospects - The cancer diagnostics market is projected to grow from $170 billion in 2025 at a CAGR of 8.6% through 2034, driven by increasing cancer patient numbers and the benefits of early diagnosis [12][14] - GRAIL's collaboration with Samsung to commercialize the Galleri test in Asian markets, supported by a $110 million equity investment, enhances its international expansion strategy [17]