Genetic and Screening Services Bi-Weekly Industry Events & M&A Update — September 14–28, 2026

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BI-WEEKLY INDUSTRY EVENTS & M&A UPDATE

HEALTH CARE › HEALTH CARE EQUIPMENT AND SERVICES › GENETIC AND SCREENING SERVICES

Evidence and Approvals Did the Repricing, Not Transactions

This update covers what moved, what companies announced and what the transaction record showed across Genetic and Screening Services from September 14–28, 2026.

September 14–28, 2026

Prepared by NeuraCap AI · Confidential

Market data through 2026-09-28 · events and transactions from the two-week period 2026-09-14 → 2026-09-28

Genetic and Screening Services Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice

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The analyst’s walkthrough of the deck, page by page.

1. 01
   BI-WEEKLY INDUSTRY EVENTS & M&A UPDATE

   HEALTH CARE › HEALTH CARE EQUIPMENT AND SERVICES › GENETIC AND SCREENING SERVICES

   Cover slide introducing the bi-weekly Genetic and Screening Services industry events and M&A update for September 14–28, 2026.

   This update walks through what moved, why, what transacted and what it means for Genetic and Screening Services across September 14–28, 2026. We start with the two-week bottom line before turning to the public market movers, the major catalysts and the transaction record.

   Everything on this page

   BI-WEEKLY INDUSTRY EVENTS & M&A UPDATE HEALTH CARE › HEALTH CARE EQUIPMENT AND SERVICES › GENETIC AND SCREENING SERVICES Evidence and Approvals Did the Repricing, Not Transactions This update covers what moved, what companies announced and what the transaction record showed across Genetic and Screening Services from September 14–28, 2026. September 14–28, 2026 Prepared by NeuraCap AI · Confidential Market data through 2026-09-28 · events and transactions from the two-week period 2026-09-14 → 2026-09-28 Genetic and Screening Services Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice Sources & methodology 1

2. 02
   THE BI-WEEKLY BOTTOM LINE

   The Regulatory and Evidence Calendar Carried the Period

   Summarizes the two-week period's headline result across the 13 covered names.

   Nine of the thirteen covered names rose over the period, with the sector median move at +7.4% against +0.8% for the S&P 500. The gains clustered around names that carried a regulatory or clinical evidence milestone inside the window. That pattern is the throughline for the rest of this update, so we lead with it before breaking out the individual movers.

   Everything on this page

   THE BI-WEEKLY BOTTOM LINE The Regulatory and Evidence Calendar Carried the Period The two-week period in one page · 13 covered names, close-to-close · September 14–28, 2026 Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-28. Driver attributions use calibrated language and are NeuraCap reads of the recorded evidence. Genetic and Screening Services Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice Sources & methodology 2 1 9 of 13 Covered Names Rose over the Two-Week Period The median move was +7.4%, ahead of the S&P 500 at +0.8%. The gains clustered in names that had a regulatory or clinical evidence milestone inside the window. 2 A Favorable FDA Panel Vote Put GRAIL at the Top of the Board GRAIL Inc. (GRAL) finished the period +75.6%, including +33.7% on Sep 21, the day Reuters reported that FDA staff reviewers raised no major concerns on the Galleri blood test. The advisory committee voted in favor of approval on Sep 23. 3 Natera Paired New MRD Data with a New Market Approval Natera, Inc. (NTRA) gained +20.5% over the two-week period, following the Sep 18 presentation of the largest MRD study in lung cancer and Japanese approval of Signatera as a companion diagnostic in muscle-invasive bladder cancer on Sep 22. 4 Buyers Held While Operators Built Menu and Capacity No material sector transactions were announced during the period, against a trailing record of 28 precedent transactions. The only ownership change disclosed in the window was Veracyte, Inc. (VCYT) adding a urinary tumor DNA testing platform on Sep 14. +75.6% Best mover — GRAIL Inc. (GRAL) worst: PRE -5.6% · 9 up / 4 down of 13 covered +7.4% Sector median two-week return vs S&P 500 +0.8%

3. 03
   PUBLIC MARKET MOVERS

   Approvals and Clinical Evidence Drove the Period's Largest Gains

   Shows which covered names moved the most and links each move to the regulatory or clinical event recorded in the window.

   GRAIL led the board at +75.6%, including a +33.7% single-day move on the day FDA staff reviewers were reported to have raised no major concerns on the Galleri test. Natera followed at +20.5%, pairing new MRD study data with a Japanese companion diagnostic approval for Signatera. We only attribute a move to a driver where a filing or article is recorded in the window, so this is a calibrated read, not asserted causation. That discipline is what lets us say the evidence calendar, not sentiment, carried the period.

   Everything on this page

   PUBLIC MARKET MOVERS Approvals and Clinical Evidence Drove the Period's Largest Gains Bi-Weekly moves, close-to-close · September 14–28, 2026 · sector median +7.4% · S&P 500 +0.8% · materiality bar ±11.2% (sector-relative) Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-28. Attribution links each move only to filings and headlines recorded in the window; where no driver is recorded, the page says so. Calibrated language throughout — NeuraCap reads, not asserted causation. Genetic and Screening Services Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice Sources & methodology 3 Bi-Weekly return per company · teal above zero, amber below · sector median +7.4% GRAIL Inc. (GRAL) +75.6% Shares moved following the Sep 21 Reuters report that FDA staff reviewers flagged no major concerns on the Galleri multi-cancer test, and the company's Sep 23 announcement of a favorable advisory committee vote on approval. Regulatory milestones still reprice pre-coverage screening assets faster than volume growth does. COMPANY-SPECIFIC Natera, Inc. (NTRA) +20.5% Shares rose over the period following two Signatera announcements: the largest MRD study in lung cancer, presented Sep 18, and Japanese regulatory approval as a companion diagnostic in muscle-invasive bladder cancer on Sep 22. Proprietary evidence plus a new reimbursed indication is the combination this market pays for. COMPANY-SPECIFIC OraSure Technologies, Inc. (OSUR) +17.2% No notable in-window news was identified that clearly explains the move. The gain of +17.2% ran ahead of the sector median of +7.4%. Discount-tier names carry the most torque when the group's evidence flow turns positive. UNEXPLAINED Prenetics Global Limited (PRE) -5.6% No notable in-window news was identified that clearly explains the move. The decline of -5.6% sat against a sector median of +7.4%. Direction was not uniform: 4 of 13 covered names finished the two-week period lower. UNEXPLAINED

4. 04
   MAJOR NEWS & INDUSTRY CATALYSTS

   Companies Spent the Period Building Evidence, Capacity and Menu Depth

   Lists the period's highest-impact company announcements on evidence, capacity and menu depth.

   Companies used the two-week window to add clinical evidence, expand capacity and extend their testing menus rather than pursue transactions. Veracyte's addition of a urinary tumor DNA testing platform on Sep 14 is one example of that menu-building activity. Each item on this page links back to its underlying filing or article, so it functions as a sourced record rather than a summary. That sourcing is what supports the read that evidence, not deal-making, was the story of the period.

   Everything on this page

   MAJOR NEWS & INDUSTRY CATALYSTS Companies Spent the Period Building Evidence, Capacity and Menu Depth The two-week period's highest-impact events · titles link to the underlying filing or article · September 14–28, 2026 Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-28. "Why it matters" lines are NeuraCap reads; each event links to its source. Sources are admitted in a fixed reliability order (SEC filings, press releases, established outlets); video and social platforms are never used. Genetic and Screening Services Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice Sources & methodology 4 Sep 23 · NEWS · PRNewsWire GRAIL wins a favorable FDA advisory committee vote on its Galleri multi-cancer early detection test A panel vote is the gate that opens the coverage and guideline path for a screening test. For pre-coverage screening assets, the regulatory calendar is the valuation calendar. Sep 22 · NEWS · PRNewsWire Castle Biosciences to open a new laboratory facility in Scottsdale to support growing test volumes Capacity added ahead of accessioned volume is a statement about expected paid volume, and it is also where cost per test falls as automation absorbs fixed costs. Capacity decisions signal which operators expect volume to be reimbursed, not just billed. Sep 22 · NEWS · Business Wire Natera's Signatera approved in Japan as a companion diagnostic in muscle-invasive bladder cancer A companion diagnostic approval in a new market converts an existing assay into new reimbursed volume without a new platform build. It is the longitudinal franchise argument in practice. Geographic and indication expansion on a proven assay is the cheapest growth in this sector. Sep 18 · NEWS · Business Wire Natera presents the largest MRD study in lung cancer, showing prognostic value for Signatera Proprietary prospective evidence is what competitors must replicate and what payers and guideline bodies read before coverage widens. This is the evidence layer beneath ASP realisation. Clinical utility data in a large indication is the asset buyers underwrite most confidently. Sep 16 · NEWS · GlobeNewsWire Myriad Genetics promotes a commercial leader to Executive Vice President – Commercial Commercial leadership is where pull-through, payer contracting and sales productivity inside a narrow specialty are owned. The appointment signals where the company is putting its emphasis. In molecular testing, commercial execution is a value driver, not a support function. Sep 14 · NEWS · GlobeNewsWire Veracyte acquires a urinary tumor DNA testing platform, extending its urology diagnostics menu The only ownership change disclosed in the window was a menu extension rather than a scale purchase, which fits a market where buyers add indication depth around an existing call point. Menu depth chosen deliberately, not breadth for its own sake, is how the record shows buyers moving.

5. 05
   M&A & STRATEGIC ACTIVITY

   No New Precedents This Period; The Only Ownership Move Was a Menu Extension

   Reports that no new M&A precedents were announced in the window, against a trailing record of 28 recorded deals.

   No new sector transactions were announced in this period, against a trailing precedent set of 28 recorded deals. The only ownership change disclosed in the window was Veracyte's addition of a urinary tumor DNA testing platform on Sep 14, which reads as a menu extension rather than a new deal precedent. That gap between an active trading tape and a quiet deal calendar is itself a data point for anyone underwriting a transaction off this comparable set.

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   M&A & STRATEGIC ACTIVITY No New Precedents This Period; The Only Ownership Move Was a Menu Extension September 14–28, 2026 · precedent transactions: 28 recorded deals Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-28. Deal multiples are LTM at announcement where disclosed; "why the deal happened" is a NeuraCap read of the recorded evidence. No old transactions are re-presented as news. Genetic and Screening Services Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice Sources & methodology 5 No Material Transactions Announced No material sector transactions were announced during the period. The only ownership change disclosed in the window was Veracyte, Inc. (VCYT) adding a urinary tumor DNA testing platform to its urology portfolio on Sep 14. A quiet two-week period is information: buyer appetite, financing conditions and seller expectations all read through a period with no new deals. The precedent transactions alongside still frame what buyers have paid. 28 Recorded precedent transactions the reference set buyers and sellers price against

6. 06
   WHAT IT MEANS

   What the Period Changes for Operators, Buyers and Advisors

   Translates the period's evidence and trading pattern into implications for operators, acquirers and advisors.

   For operators, the market rewarded milestones that convert into paid volume, and those gains came from both the Premium and Discount tiers. For acquirers, the comparable set repriced through trading rather than through new deal precedents, since none were added in the window. For advisors, the period argues for leading with where an asset sits on the reimbursement clock, from GRAIL's advisory committee vote to Natera's companion diagnostic approval to Veracyte's menu build. These are NeuraCap observations on the recorded evidence, not recommendations.

   Everything on this page

   WHAT IT MEANS What the Period Changes for Operators, Buyers and Advisors The two-week period translated for the people who act on it · NeuraCap view · observations, not recommendations Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-28. This page is analytical interpretation drawn from the two-week period's recorded evidence. It is not investment advice. Genetic and Screening Services Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice Sources & methodology 6 Sector study 2026-09-28 EV / Revenue (CY2027E) median 3.1x 11 companies in the study 3 valuation tiers Standing thesis: Genetic and Screening Services Split Between Reference Testing and Adjacent Models FOR OWNERS & OPERATORS The Market Paid for Milestones That Convert into Paid Volume Companies in the space traded higher over the two-week period, and the strongest moves sat with names that put a regulatory or clinical evidence milestone on the board. FOR ACQUIRERS The Reference Set Moved on Trading, Not on New Precedents With no transactions added in the window, the comparable set repriced through the market rather than through deals. FOR ADVISORS Lead with Where an Asset Sits on the Reimbursement Clock The period's evidence is regulatory and clinical: GRAIL Inc. (GRAL) on a favorable advisory committee vote, Natera, Inc. (NTRA) on Japanese companion diagnostic approval and new MRD data, and Veracyte, Inc. (VCYT) buying urology menu depth.

7. 07
   SOURCES & METHODOLOGY

   Sources, Methodology and Important Notice

   Explains the sources and methodology behind the update's figures and attributions.

   Every figure in this update links to the record it was taken from, whether a filing, a press release or an established outlet, and market data runs through September 28, 2026. Driver attributions use calibrated language and reflect a NeuraCap read of the recorded evidence rather than asserted causation. We surface this methodology so the figures and reads on the prior pages can be checked against their sources directly.

   Everything on this page

   SOURCES & METHODOLOGY Sources, Methodology and Important Notice How this bi-weekly update is built and what each kind of statement rests on · September 14–28, 2026 · market data through 2026-09-28 Every figure in this update links to the record it was taken from; the publishers and filings drawn on for the period are listed above. Genetic and Screening Services Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice 7 OBSERVED DATA Bi-Weekly stock moves are computed close-to-close over the stated window from the platform’s price series. Deal records, values and multiples come from the platform’s transaction record (SEC 8-K extractions) exactly as recorded; each figure links to its citation. Treasury rates come from the platform’s Treasury series and are shown only when the 10-year moved at least ten basis points over the window (it did not in this window, so no rate figures appear). UNIVERSE QUALITY The update universe is the platform’s approved company set for this sector, subject to a $100M market-cap floor so small, loosely related names cannot dominate the statistics. No covered name fell below the floor in this window. EVENTS & NEWS Company events are in-window 8-K filings; news items are publisher-sourced headlines fetched for the window (and any externally supplied items, marked as such). Operational and strategic developments (deals, partnerships, launches, expansion, guidance, leadership, regulatory outcomes) are shown first; capital-return mechanics and conference appearances are limited to one each. Every event links to its source. The deck never asserts an event that has no linked record. SOURCE HIERARCHY News is admitted in a fixed order of reliability: SEC filings first, then company press releases and investor-relations communications, then transaction documents, then established outlets (Reuters, CNBC, The Wall Street Journal, Barron’s and peers). Video and social platforms — including YouTube — are never used as sources. DRIVER ATTRIBUTION A stock move is linked to an event only when the event falls inside the window, and only in calibrated language ("the move appears to reflect…", "shares moved following…"). Where no driver is recorded, the page says so and compares the move to the sector median instead. ANALYTICAL INTERPRETATION "Why it matters", "why the deal happened" and the what-it-means page are NeuraCap analytical views drawn from the recorded evidence, and are labeled as such. INHERITED CONTEXT The standing sector view (thesis, valuation lens, sector median and tiering) is inherited from the NeuraCap sector study run_20260929T171045Z_539_prod (market data as of 2026-09-28) — distilled, never re-derived. That report’s own sources page governs its content; this update reads the period against it. IMPORTANT NOTICE This report is informational only. It is not investment advice, not a recommendation to buy or sell any security, and not an offer of any kind. Readers should perform their own diligence before acting on anything described here. Linked sources this two-week period: prnewswire.com · businesswire.com · globenewswire.com

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