Grail will cut workforce 30% to focus on blood-based cancer detection test

Cancer detection agency Grail introduced sizable workforce cuts on Tuesday in a bid to avoid wasting money and focus sources on creating a blood-based check to identify early indicators of dozens of cancers.

The cuts will have an effect on 30% of the biotech’s present and deliberate hires. Grail spokesperson Kristen Davis informed STAT in an e-mail that round 350 current positions and 150 open roles have been eradicated.

The layoffs have been introduced on the identical day Grail reported its second-quarter monetary particulars, its first time doing in order an impartial firm because it was divested by DNA sequencing juggernaut Illumina in June. The Bay Space biotech introduced in $32 million throughout the quarter but in addition reported a internet lack of $1.6 billion. In a press launch, the corporate stated that the cuts would assist it prolong its money reserves from the second half of 2026 into 2028.