Class action complaint alleging GRAIL insider fraud resubmitted after dismissal

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Following last month’s dismissal of the securities class action complaint against Illumina Inc. and its former spinoff company, GRAIL, the plaintiffs have refiled an amended complaint, keeping the action alive. 

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Jacquelyn Cobb
Associate Editor
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The NHS-Galleri trial presented at ASCO was the largest, prospective, randomized trial of a multicancer early detection test (MCED) to date. The study enrolled approximately 143,000 asymptomatic adults (ages 50-77) and was the first of its kind to assess clinical utility of an MCED test for cancer screening. 
On Feb. 19, GRAIL Inc. announced that its pivotal NHS-Galleri trial failed to meet its primary endpoint of reduction in advanced stage cancers. The media and the market reacted as one would expect: GRAIL’s stock price halved the day after the announcement and at least three law firms said that they are conducting investigations in preparation for filing investor suits.
If you listen to GRAIL executives discuss the results of the long-awaited trial of the company’s multicancer detection test, you might be led to conclude that the company’s pivotal NHS-Galleri study had an overwhelmingly positive result.
Jacquelyn Cobb
Associate Editor

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