GRAIL, Inc.
GRAL · Services-Medical Laboratories · 42.9M shares · +0%/yr ↓ buyback · EDGAR filings ↗
Reference price $61.08 · est. market cap ~$2.6B — last insider sale, 2026-06-04 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D46Multi-cancer-early-detection company (Galleri) — growing but with deep losses and heavy cash burn, funded.
Strengths
- Strong liquidity and growth — current ratio 12.0 (96th), revenue +17%
Risks
- Deep losses — operating margin -382%
- Heavy cash burn — FCF -$300M (5th)
- Reimbursement/clinical-validation risk — per 10-K
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Net lossNet loss (net margin -277.5%)
- Cash burnNegative free cash flow (-299.9M)
- Trial resultPositive trial readout — primary endpoint met (8-K) 8-K ↗
- Strong balance sheetStrong balance sheet — $902M cash & investments, ~12 quarters of runway
- Insider sellingInsider selling — 19 open-market sale(s) by 4 insider(s) (cluster of 4 insiders, ~$16M, last 6mo) Form 4 ↗
- Notable holderHeld by 5 notable fund(s): STATE STREET CORP, GOLDMAN SACHS GROUP INC, CITADEL ADVISORS LLC +2 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
-382.0%
Net margin
-277.5%
Return on equity
-15.8%
Return on assets
-14.0%
Revenue growth (QoQ)
-6.4%
Current ratio
12.0×
Free cash flow
-$300M
Tangible book value
$727M
Cash & investments
$902M
Cash runway
12q
Stock comp / revenue
39.6%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-18 | SUMME GREGORY L | Grant | 5.5K | $63.74 |
| 2026-06-18 | CHASE WILLIAM J | Grant | 5.5K | $63.74 |
| 2026-06-18 | MIZELL STEVEN | Grant | 5.5K | $63.74 |
| 2026-06-18 | Krevans Sarah | Grant | 5.5K | $63.74 |
| 2026-06-04 | Partridge Andrew John | Sell | 1.5K | $61.08 |
| 2026-06-03 | Ofman Joshua J. | Grant | 3.2K | $61.13 |
| 2026-06-01 | Ofman Joshua J. | Grant | 28K | $64.40 |
| 2026-04-15 | MIZELL STEVEN | Grant | 396 | $49.79 |
| 2026-04-15 | CHASE WILLIAM J | Grant | 408 | $49.79 |
| 2026-04-15 | SUMME GREGORY L | Grant | 631 | $49.79 |
| 2026-04-08 | Freidin Aaron | Sell | 46K | $49.92 |
| 2026-04-08 | RAGUSA ROBERT P | Sell | 124K | $49.92 |
| 2026-04-08 | Ofman Joshua J. | Sell | 62K | $49.92 |
| 2026-03-09 | Freidin Aaron | Sell | 85 | $46.74 |
| 2026-03-09 | Freidin Aaron | Sell | 2.4K | $47.93 |
| 2026-03-09 | Ofman Joshua J. | Sell | 2.8K | $47.93 |
| 2026-03-09 | Ofman Joshua J. | Sell | 101 | $46.74 |
| 2026-03-09 | RAGUSA ROBERT P | Sell | 7.2K | $47.93 |
| 2026-03-09 | RAGUSA ROBERT P | Sell | 258 | $46.73 |
| 2026-03-05 | RAGUSA ROBERT P | Sell | 980 | $53.01 |
| 2026-03-05 | Ofman Joshua J. | Sell | 690 | $53.01 |
| 2026-03-05 | Freidin Aaron | Sell | 655 | $53.01 |
| 2026-03-02 | RAGUSA ROBERT P | Sell | 1.7K | $51.84 |
| 2026-03-02 | Ofman Joshua J. | Sell | 779 | $51.75 |
| 2026-03-02 | Ofman Joshua J. | Sell | 16K | $50.09 |
| 2026-03-02 | Freidin Aaron | Sell | 438 | $51.86 |
| 2026-03-02 | RAGUSA ROBERT P | Sell | 36K | $50.09 |
| 2026-03-02 | Freidin Aaron | Sell | 9.1K | $50.09 |
| 2026-02-27 | Freidin Aaron | Grant | 60K | $53.23 |
| 2026-02-27 | Ofman Joshua J. | Grant | 85K | $53.23 |
| 2026-01-15 | CHASE WILLIAM J | Grant | 213 | $97.44 |
| 2026-01-15 | SUMME GREGORY L | Grant | 329 | $97.44 |
| 2026-01-15 | MIZELL STEVEN | Grant | 206 | $97.44 |
| 2025-12-03 | Ofman Joshua J. | Sell | 13K | $100.00 |
| 2025-12-03 | RAGUSA ROBERT P | Sell | 15K | $94.43 |
| 2025-12-03 | RAGUSA ROBERT P | Sell | 15K | $95.28 |
| 2025-12-03 | RAGUSA ROBERT P | Sell | 8.2K | $96.22 |
| 2025-12-03 | RAGUSA ROBERT P | Sell | 1.6K | $97.28 |
| 2025-12-03 | Freidin Aaron | Sell | 25K | $99.15 |
| 2025-11-17 | Freidin Aaron | Sell | 1.7K | $79.20 |
| 2025-10-16 | Ofman Joshua J. | Sell | 6.1K | $82.01 |
| 2025-10-15 | Ofman Joshua J. | Sell | 8.9K | $76.03 |
| 2025-10-15 | RAGUSA ROBERT P | Sell | 7.2K | $68.88 |
| 2025-10-15 | MIZELL STEVEN | Grant | 267 | $75.52 |
| 2025-10-15 | SUMME GREGORY L | Grant | 425 | $75.52 |
| 2025-10-15 | CHASE WILLIAM J | Grant | 275 | $75.52 |
| 2025-10-06 | Ofman Joshua J. | Sell | 81K | $62.50 |
| 2025-10-02 | Ofman Joshua J. | Sell | 9.7K | $64.00 |
| 2025-08-19 | Ofman Joshua J. | Sell | 4.2K | $32.02 |
| 2025-08-19 | Freidin Aaron | Sell | 877 | $32.02 |
| 2025-07-15 | CHASE WILLIAM J | Grant | 533 | $38.53 |
| 2025-07-15 | SUMME GREGORY L | Grant | 825 | $38.53 |
| 2025-07-15 | MIZELL STEVEN | Grant | 517 | $38.53 |
| 2025-07-15 | Freidin Aaron | Sell | 8.0K | $38.93 |
| 2025-07-01 | DING CHUN R | Sell | 51K | $48.88 |
| 2025-07-01 | DING CHUN R | Sell | 261K | $49.58 |
| 2025-07-01 | DING CHUN R | Sell | 28K | $50.25 |
| 2025-06-30 | Ofman Joshua J. | Sell | 9.7K | $52.00 |
| 2025-06-12 | Ofman Joshua J. | Sell | 9.7K | $42.30 |
| 2025-05-29 | SUMME GREGORY L | Grant | 6.1K | $41.10 |
| 2025-05-29 | CHASE WILLIAM J | Grant | 6.1K | $41.10 |
| 2025-05-29 | MIZELL STEVEN | Grant | 6.1K | $41.10 |
| 2025-05-29 | Krevans Sarah | Grant | 6.1K | $41.10 |
| 2025-05-02 | Ofman Joshua J. | Sell | 48K | $33.93 |
| 2025-05-02 | Freidin Aaron | Sell | 41K | $33.93 |
| 2025-05-02 | RAGUSA ROBERT P | Sell | 94K | $33.93 |
| 2025-04-15 | CHASE WILLIAM J | Grant | 784 | $25.94 |
| 2025-04-15 | MIZELL STEVEN | Grant | 760 | $25.94 |
| 2025-04-15 | SUMME GREGORY L | Grant | 1.2K | $25.94 |
| 2025-03-11 | Freidin Aaron | Sell | 1.8K | $31.20 |
| 2025-03-11 | RAGUSA ROBERT P | Sell | 7.6K | $31.21 |
| 2025-03-11 | Ofman Joshua J. | Sell | 2.1K | $31.20 |
| 2025-03-07 | RAGUSA ROBERT P | Sell | 7.6K | $31.21 |
| 2025-03-07 | Ofman Joshua J. | Sell | 2.1K | $31.20 |
| 2025-03-07 | Freidin Aaron | Sell | 1.8K | $31.20 |
| 2025-03-05 | Freidin Aaron | Sell | 521 | $41.51 |
| 2025-03-05 | Ofman Joshua J. | Sell | 525 | $41.51 |
| 2025-03-05 | RAGUSA ROBERT P | Sell | 994 | $41.51 |
| 2025-02-03 | Freidin Aaron | Grant | 69K | $28.84 |
| 2025-02-03 | Ofman Joshua J. | Grant | 111K | $28.84 |
| 2025-02-03 | RAGUSA ROBERT P | Grant | 225K | $28.84 |
| 2025-01-15 | CHASE WILLIAM J | Grant | 1.2K | $17.58 |
| 2025-01-15 | MIZELL STEVEN | Grant | 1.1K | $17.58 |
| 2025-01-15 | SUMME GREGORY L | Grant | 1.8K | $17.58 |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT05673018 ↗ | Galleri® in the Medicare Population. Cancer | NA | Recruiting | 2030-09-01 |
| NCT05611632 ↗ | Does Screening With the Galleri Test in the NHS Reduce the Likelihood of a Late-stage Cancer Diagnosis in an Asymptomatic Population? A Randomised Clinical Trial Cancer | NA | Active Not Recruiting | 2026-06-01 |
| NCT05155605 ↗ | PATHFINDER 2: A Multi-Cancer Early Detection Study Early Detection of Cancer, Cancer | NA | Active Not Recruiting | 2026-02-11 |
| NCT06603259 ↗ | The Galleri® Community Research Program Data Collection | — | Enrolling By Invitation | 2025-12-01 |
| NCT05205967 ↗ | REFLECTION: A Clinical Practice Learning Program for Galleri® Early Detection of Cancer, Cancer | — | Active Not Recruiting | 2025-09-30 |
| NCT02889978 ↗ | The Circulating Cell-free Genome Atlas Study Neoplasms, Cancer | — | Unknown | 2024-03-01 |
| NCT03085888 ↗ | The STRIVE Study: Development of a Blood Test for Early Detection of Multiple Cancer Types Neoplasms, Cancer | — | Completed | 2022-06-30 |
| NCT04241796 ↗ | Assessment of the Implementation of an Investigational Multi-Cancer Early Detection Test Into Clinical Practice Cancer | NA | Completed | 2021-12-01 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Supply chain
Customers (0)
Suppliers (1)
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-22 | Shareholder vote | filing ↗ |
| 2026-06-01 | Exec/director changeOtherExhibits | filing ↗ |
| 2026-05-05 | ResultsExhibits | filing ↗ |
| 2026-02-19 | ResultsOtherExhibits | filing ↗ |
| 2026-01-12 | ResultsExhibits | filing ↗ |
| 2025-11-14 | OtherExhibits | filing ↗ |
| 2025-11-12 | ResultsExhibits | filing ↗ |
| 2025-10-20 | Material agreement3.02Exhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-22 | 2026-06-18 | 0001628280-26-044693 ↗ |
| 8-K | 2026-06-01 | 2026-06-01 | 0001628280-26-039461 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0001628280-26-032090 ↗ |
| 8-K | 2026-05-05 | 2026-05-05 | 0001628280-26-030495 ↗ |
| 10-K | 2026-03-12 | 2025-12-31 | 0001628280-26-017319 ↗ |
| 8-K | 2026-02-19 | 2026-02-19 | 0001699031-26-000009 ↗ |
| 8-K | 2026-01-12 | 2026-01-12 | 0001628280-26-001786 ↗ |
| 8-K | 2025-11-14 | 2025-11-13 | 0001628280-25-052184 ↗ |
| 10-Q | 2025-11-13 | 2025-09-30 | 0001699031-25-000193 ↗ |
| 8-K | 2025-11-12 | 2025-11-12 | 0001699031-25-000189 ↗ |
| 8-K | 2025-10-20 | 2025-10-18 | 0001628280-25-045532 ↗ |
| 8-K | 2025-10-16 | 2025-10-16 | 0001628280-25-045239 ↗ |