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8-K/A: Current report (Amendment)

SEC ·  Jun 28, 2024 04:44

Summary by Moomoo AI

Illumina announced it will recognize significant impairment charges in the second quarter of 2024 following an impairment test of GRAIL-related assets. The company estimates a goodwill impairment charge of $1,466 million, representing the full remaining carrying value of GRAIL's goodwill as of March 31, 2024.Additionally, Illumina will record a $420 million impairment charge for GRAIL's in-process research and development (IPR&D) intangible asset. The company stated these charges will be excluded from non-GAAP financial metrics and are not expected to result in any material future cash expenditures.
Illumina announced it will recognize significant impairment charges in the second quarter of 2024 following an impairment test of GRAIL-related assets. The company estimates a goodwill impairment charge of $1,466 million, representing the full remaining carrying value of GRAIL's goodwill as of March 31, 2024.Additionally, Illumina will record a $420 million impairment charge for GRAIL's in-process research and development (IPR&D) intangible asset. The company stated these charges will be excluded from non-GAAP financial metrics and are not expected to result in any material future cash expenditures.
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