Galleri test revenue rose 14% year over year to $37.3 million in the third quarter, while test volume increased about 24% to more than 56,000. An FDA advisory committee voted in favor of approving GRAIL’s multi-cancer early detection test. Year-to-date test volume exceeded 174,000, up 36% year over year. GRAIL reported a loss of $2.21 per share, narrower than the consensus estimate of a $2.78 loss, but Q3 revenue of $37.54 million missed overall consensus estimates. The company lowered its full-year Galleri revenue growth guidance to 17–21% from 22–32%, while adjusted gross margin fell to 42% from 55%.
GRAIL saw Galleri test volumes surge 24% to over 56,000 units in Q3, coinciding with a favorable FDA advisory committee vote for the multi-cancer early detection test.
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