Grail, Inc. · NASDAQ:GRAL
Grail — 43rd Annual J.P. Morgan Healthcare Conference (January 2025)
15 slides from Grail's conference presentation, Jan 15, 2025
Slide 1: 43rd Annual J.P. Morgan Healthcare Conference
43rd Annual J.P. Morgan Healthcare Conference Bob Ragusa, CEO January 2025 CONFIDENTIAL & PROPRIETARY 1
Slide 2: Forward-looking statements
This presentation contains forward-looking statements. In some cases, you can identify these statements by forward-looking words such as “aim,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “should,” “would,” or “will,”
Slide 3: GRAIL highlights: focused on detecting cancer early, when it can be cured
Focused on detecting cancer early, when it can be cured1 • Current recommended screening is limited, and most asymptomatic deadly cancers are found too late • Multi-cancer early detection (MCED) is the solution for effective population screening CONF IDE NTIAL & PRO PR IETAR Y 3 1 If cancer is detec
Slide 4: Cancers are often found too late
CONFIDENTIAL & PROPRIETARY 4 Cancers are often found too late Survival rate when diagnosed EARLY3 ~4x Of cancer deaths result from cancers without recommended screening1 ~70% Of cancers are not found through recommended screening2 86% 1 Among individuals 50-79 years old. Assumes screening is availab
Slide 5: Galleri: Clinically-validated, commercially-available MCED test
CONFIDENTIAL & PROPRIETARY 5 1 We believe that the results of our large CCGA clinical study provides clinical validation for Galleri. Kle in, et al, Clinical Validation of a targeted methylation-based multi-cancer early detection test using an independent validation set, Annals of Oncology 2021. Gal
Slide 6: Galleri performance data
CONF IDE NTIAL & PRO PR IETAR Y 6 Galleri performance data: Schrag, et al. PATHFINDER: A prospective study of a multi-cancer early detection blood test. ESMO 2022. Localization: cancer signal of origin prediction accuracy of first or second predicted classifications in true positive population. 1 Pr
Slide 7: New version enables scalability along with CSO enhancements
CONF IDE NTIAL & PRO PR IETAR Y 7 New version enables scalability along with CSO enhancements Launched December 2024 PPV (modeled) at 99.5% specificity in case-controlled study CCGA1 PPV (observed) at 99.5% specificity in implementation study PATHFINDER2 44% 43% 1 Klein, et al, Clinical Validation o
Slide 8: The global addressable market is significant
CONF IDE NTIAL & PRO PR IETAR Y 8 1 WHO, All Cancers Fact Sheet 2020. 2 ACS, Cancer Statistics 2022, https://doi.org/10.3322/caac.21708. 3 JAMA Oncol. 2023;9(4):465-472. doi:10.1001/jamaoncol.2022.7826. Estimated screening populations represent adult population between 50–79 years of age. US Census
Slide 9: Robust Galleri adoption and strong partnerships
CONF IDE NTIAL & PRO PR IETAR Y 9 1 As of December 31, 2024. 2 As of December 31, 2024. Repeat volume as percentage of total Galleri volume since launch. 2021 2022 2023 2024 Galleri tests sold ~11k ~49k ~94k ~137k • FY24 commercial tests sold: 137K • Ordering providers1: >13k • Repeat orders2: >20%
Slide 10: Commercial use of Galleri is finding early cancers
EXAMPLES OF CONFIRMED EARLY-STAGE CANCERS CONF IDE NTIAL & PRO PR IETAR Y 10 Endometrial Esophageal Gastrointestinal stromal tumor Head + neck Pancreas Rectal Prostate Liver Stage 1 Stage 2 Gallbladder Data based on confirmed cancers through June 2023; Healthcare provider-defined end to the diagnost
Slide 11: Financial profile
CONF IDE NTIAL & PRO PR IETAR Y 11 FY 2024 Revenue • $124 - 126M total revenue • $107 - 110M US Galleri revenue 2025 U.S. Galleri sales 20-30% growth Cash balance • $767M as of December 31, 20241 • Runway into 2028 Projected cash burn 2025 <$320M Financial profile 1 Cash, cash equivalents, and short
Slide 12: Significant investments provide market lead
CONF IDE NTIAL & PRO PR IETAR Y 12 Scalable lab operations Demonstrated execution Clinical program size includes participants enrolled and to be enrolled across studies. Tests through labs and cumulative publications as of December 31, 2024. Publications inc lude manuscripts and presentations. ~170,
Slide 13: Our vision: Population-scale multi-cancer early detection
CONF IDE NTIAL & PRO PR IETAR Y 13 Our vision: Population-scale multi-cancer early detection Laying the groundwork today to intercept the opportunity
Slide 14: Focused on strategic priorities & cost management
CONF IDE NTIAL & PRO PR IETAR Y 14 2024 Separation from Illumina (June) Corporate re-structuring (August) • Seek FDA approval of Galleri • Pursue CMS coverage and broad commercial reimbursement for Galleri Strategic priorities Completed study visits for registrational studies PATHFINDER 2 and NHS-Ga
Slide 15: Detect cancer early, when it can be cured.
Detect cancer early, when it can be cured. CONFIDENTIAL & PROPRIETARY 15
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