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GRAIL Announces Filing of Registration Statement for Proposed Initial Public Offering

MENLO PARK, Calif.–(BUSINESS WIRE)–GRAIL, Inc., a healthcare company whose mission is to detect cancer early, when it can be cured, today announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission (SEC) for a proposed initial public offering of its common stock in the United States. The number of shares to be offered and the price range for the proposed offering have not yet been determined. GRAIL has applied to list its common stock on the Nasdaq Global Select Market under the symbol “GRAL.”

Morgan Stanley, Goldman Sachs & Co. LLC, and BofA Securities will act as lead bookrunners for the proposed offering. Cowen and Evercore ISI will act as additional bookrunners.

The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus, when available, may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, via telephone: 866-471-2526, or via email: prospectus-ny@ny.email.gs.com; BofA Securities, Inc., Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, or by email at dg.prospectus_requests@bofa.com; Cowen and Company, LLC, c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 833-297-2926, or by email at PostSaleManualRequests@broadridge.com; or Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 36th Floor, New York, New York 10055, by telephone at 888-474-0200, or by email at ecm.prospectus@evercore.com.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

As per GRAiL’s SEC filing: “Our multi-cancer early detection test, Galleri, is designed as a screening test for asymptomatic individuals over 50 years of age. We plan to commercially launch Galleri in 2021 as a laboratory developed test (LDT). In addition to Galleri, we are utilizing our proprietary technology platform and population-scale studies from which Galleri was developed to introduce additional products that address significant unmet medical needs, including a diagnostic aid for cancer test (DAC). DAC is designed to accelerate diagnostic resolution for patients for whom there is a clinical suspicion of cancer. We plan to commercially launch DAC after Galleri in the second half of 2021 as an LDT. We are also developing a minimal residual disease (MRD) test, designed to enable blood-based detection with or without tissue, and without the need for a personalized assay, as well as other post-diagnostic applications. In developing Galleri, we undertook a rigorous, comprehensive, multi-omic discovery approach to explore and identify the most promising biological hallmarks of cancer. We have invested significant capital and resources in our foundational studies, which have collectively enrolled approximately 115,000 participants, to build what we believe are the largest linked datasets of genomic and clinical data in the cancer field. As of August 31, 2020, we have reported clinical study data using samples from approximately 9,500 participants. We applied machine learning analytics to these data and objectively investigated various scientific approaches to determine the optimal means of detecting cancer. We compared the performance of three different NGS approaches—mutations, chromosomal alterations and methylation patterns—in head-to-head studies. While all of the markers were capable of detecting cancer, we found that methylation profiling yielded significantly better results for cancer detection than was observed by interrogating mutations or chromosomal alterations, alone or in combination. In contrast to typical cancer mutations that only affect a handful of genomic locations, there are nearly 30 million methylation sites across the human genome, making them a ubiquitous and rich signal for detecting cancer.”

Author / sources: GRAiL / https://www.businesswire.com/news/home/20200909005536/en/GRAIL-Announces-Filing-Registration-Statement-Proposed-Initial and https://sec.report/Document/0001628279-20-000227/

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