Cancer blood test developer Grail files IPO: 5 details 

Early-stage cancer detection startup Grail, which has investors including Amazon CEO Jeff Bezos, has filed to go public, according to a Sept. 9 CNBC report. 

Five details: 

1. DNA-sequencing machine developer Illumina launched Grail in 2015; since then, the startup has raised more than $2 billion from investors including Mr. Bezos and Johnson & Johnson. 

2. Grail is focused on developing a blood test that can detect early-stage cancer. In its IPO filing, the startup said it plans to increase production of its test, called Galleri, next year as a lab developed test. 

3. Grail also plans to use funding raised from its IPO to back large-scale clinical trials, which are required to prove the safety and effectiveness of its blood test. 

4. The startup posted a $136.4 million loss and no revenue during the first six months of fiscal year 2020. Grail said most of its losses are due to research and development expenses. 

5. Biotech companies going public pre-revenue is more common than other industries because the companies use their IPOs to raise money that helps fund the research and trials needed for medical products, according to the report. 

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