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Illumina's (ILMN) GRAIL, Point32Health Unite to Offer MCED Test
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Illumina, Inc. (ILMN - Free Report) recently announced that its wholly-owned subsidiary, GRAIL, entered into an agreement with Point32Health to partner on a two-phased pilot of Galleri multi-cancer early detection blood (MCED) test. Notably, Point32Health is the first commercial health plan in the United States to collaborate with GRAIL on Galleri, which has the potential to be a game-changing screening tool that could be life-saving for people in the early detection of cancer.
It is worth mentioning that, according to the American Cancer Society, more than 600,000 people died from cancer last year in the United States. Per a clinical study, the Galleri test demonstrated the ability to detect more than 50 types of cancer. When cancer is detected, the Galleri MCED test predicted the origin of the cancer signal with high accuracy across multiple cancer types.
Few Words on Point32Health
Point32Health, the combined organization of Harvard Pilgrim Health Care and Tufts Health Plan, delivers innovative medical advances that focus on improving the health and wellness of its colleagues and members.
Point32Health's execution of the Galleri test will start with Point32Health employees who meet certain eligibility criteria, including age and family history of cancer.
More on the Collaboration
Per GRAIL management, by working with Point32Health, a company known for collaborating with world-class hospitals and health care providers, GRAIL is making considerable progress aligning with forward-looking companies to detect cancer early when treatments are more effective and there is the potential of a cure.
Image Source: Zacks Investment Research
GRAIL's pioneering, science-based technology could be ground-breaking for the thousands of people and their families impacted by cancer. The second phase of the pilot program aims to collaborate with a provider group serving Point32Health commercial members that will help gather real-world evidence to evaluate the impact of the test on health care resource utilization and patient-reported outcomes.
Industry Prospects
Per Reports and Data, the global cancer diagnostics market size was $163.84 billion in 2020 and is expected to reach $268.10 billion by 2028, at a CAGR of 6.3%.
The increasing prevalence of various types of cancer globally, the rising public awareness about the importance of early cancer diagnosis, and technological developments in diagnostic systems are the major factors driving the market.
Recent Developments
In January 2022, Illumina collaborated with National Cancer Center Japan for an international joint research project that will utilize Illumina's high-throughput DNA sequencing to assess the blood-based genomic profile and clinical information of patients living with nasopharyngeal carcinoma. The study will be referred to as part of the Asian Multicenter Prospective Study of Circulating Tumor DNA Sequencing (A-TRAIN).
In the same month, Illumina entered into a multi-year partnership with Agendia intended to advance the use of next-generation sequencing (NGS) for decentralized oncology testing and align with Illumina's approach to IVD partnerships in oncology. Agendia joins Illumina's growing portfolio of more than 30 IVD partners developing more than 40 sequencing-based solutions for cancer prognosis, therapy selection and other applications.
Price Performance
Shares of the company have lost 30.8% in a year compared with the industry's fall of 38.6%.
Zacks Rank and Key Picks
Illumina currently carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical space that investors can consider are AMN Healthcare Services, Inc. (AMN - Free Report) , Henry Schein, Inc. (HSIC - Free Report) and West Pharmaceutical Services, Inc. (WST - Free Report) .
AMN Healthcare, carrying a Zacks Rank #2 (Buy), has a long-term earnings growth rate of 16.2%. AMN Healthcare surpassed earnings estimates in the trailing four quarters, delivering a surprise of 19.5%, on average.
AMN Healthcare has outperformed its industry over the past year. AMN has gained 23.8% versus the 62% industry decline.
Henry Schein has an estimated long-term growth rate of 11.8%. Henry Schein’s earnings surpassed estimates in the trailing four quarters, the average surprise being 21.86%. It currently carries a Zacks Rank #2. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Henry Schein has gained 6.1% compared with the industry’s 1.7% rise over the past year.
West Pharmaceutical has a long-term earnings growth rate of 27.6%. West Pharmaceutical surpassed earnings estimates in the trailing four quarters, delivering an average surprise of 29.4%.
West Pharmaceutical has outperformed its industry over the past year. WST currently carries a Zacks Rank of 2.
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Illumina's (ILMN) GRAIL, Point32Health Unite to Offer MCED Test
Illumina, Inc. (ILMN - Free Report) recently announced that its wholly-owned subsidiary, GRAIL, entered into an agreement with Point32Health to partner on a two-phased pilot of Galleri multi-cancer early detection blood (MCED) test. Notably, Point32Health is the first commercial health plan in the United States to collaborate with GRAIL on Galleri, which has the potential to be a game-changing screening tool that could be life-saving for people in the early detection of cancer.
It is worth mentioning that, according to the American Cancer Society, more than 600,000 people died from cancer last year in the United States. Per a clinical study, the Galleri test demonstrated the ability to detect more than 50 types of cancer. When cancer is detected, the Galleri MCED test predicted the origin of the cancer signal with high accuracy across multiple cancer types.
Few Words on Point32Health
Point32Health, the combined organization of Harvard Pilgrim Health Care and Tufts Health Plan, delivers innovative medical advances that focus on improving the health and wellness of its colleagues and members.
Point32Health's execution of the Galleri test will start with Point32Health employees who meet certain eligibility criteria, including age and family history of cancer.
More on the Collaboration
Per GRAIL management, by working with Point32Health, a company known for collaborating with world-class hospitals and health care providers, GRAIL is making considerable progress aligning with forward-looking companies to detect cancer early when treatments are more effective and there is the potential of a cure.
GRAIL's pioneering, science-based technology could be ground-breaking for the thousands of people and their families impacted by cancer. The second phase of the pilot program aims to collaborate with a provider group serving Point32Health commercial members that will help gather real-world evidence to evaluate the impact of the test on health care resource utilization and patient-reported outcomes.
Industry Prospects
Per Reports and Data, the global cancer diagnostics market size was $163.84 billion in 2020 and is expected to reach $268.10 billion by 2028, at a CAGR of 6.3%.
The increasing prevalence of various types of cancer globally, the rising public awareness about the importance of early cancer diagnosis, and technological developments in diagnostic systems are the major factors driving the market.
Recent Developments
In January 2022, Illumina collaborated with National Cancer Center Japan for an international joint research project that will utilize Illumina's high-throughput DNA sequencing to assess the blood-based genomic profile and clinical information of patients living with nasopharyngeal carcinoma. The study will be referred to as part of the Asian Multicenter Prospective Study of Circulating Tumor DNA Sequencing (A-TRAIN).
In the same month, Illumina entered into a multi-year partnership with Agendia intended to advance the use of next-generation sequencing (NGS) for decentralized oncology testing and align with Illumina's approach to IVD partnerships in oncology. Agendia joins Illumina's growing portfolio of more than 30 IVD partners developing more than 40 sequencing-based solutions for cancer prognosis, therapy selection and other applications.
Price Performance
Shares of the company have lost 30.8% in a year compared with the industry's fall of 38.6%.
Zacks Rank and Key Picks
Illumina currently carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical space that investors can consider are AMN Healthcare Services, Inc. (AMN - Free Report) , Henry Schein, Inc. (HSIC - Free Report) and West Pharmaceutical Services, Inc. (WST - Free Report) .
AMN Healthcare, carrying a Zacks Rank #2 (Buy), has a long-term earnings growth rate of 16.2%. AMN Healthcare surpassed earnings estimates in the trailing four quarters, delivering a surprise of 19.5%, on average.
AMN Healthcare has outperformed its industry over the past year. AMN has gained 23.8% versus the 62% industry decline.
Henry Schein has an estimated long-term growth rate of 11.8%. Henry Schein’s earnings surpassed estimates in the trailing four quarters, the average surprise being 21.86%. It currently carries a Zacks Rank #2. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Henry Schein has gained 6.1% compared with the industry’s 1.7% rise over the past year.
West Pharmaceutical has a long-term earnings growth rate of 27.6%. West Pharmaceutical surpassed earnings estimates in the trailing four quarters, delivering an average surprise of 29.4%.
West Pharmaceutical has outperformed its industry over the past year. WST currently carries a Zacks Rank of 2.