Why Illumina Stock Is Sinking Today

Shares of Illumina (NASDAQ: ILMN) are sinking today, down 6.7% as of 11:48 a.m. EDT, after the genomic-sequencing specialist announced that it plans to acquire GRAIL for $8 billion.

Illumina actually founded GRAIL in 2016 but later spun out the company as a stand-alone entity. GRAIL is focused on the development of liquid biopsies: blood tests that detect cancer by identifying fragments of DNA separated from tumor cells.

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Source Fool.com