(Reuters) - Illumina ( ILMN ) said on Thursday it will take a goodwill impairment charge of $1.47 billion in the second quarter related to the recently spun-off Grail Inc. ( GRAL )

As an independent company, Grail is betting on commercial partnerships with health systems, employers and life insurance firms to power its near-term growth through its flagship cancer-detection test.

Grail's shares fell nearly 14% after its market debut on Tuesday.

The company's greater-than-expected expenditures and delays in advancing its tests had also forced Illumina ( ILMN ) to take impairments that totaled $4.7 billion, activist investor Carl Icahn said in December.

On Thursday, Illumina ( ILMN ) said it will likely recognize an additional impairment charge of about $420 million for Grail's in-process research and development intangible asset in the second quarter.

The company also said that it does not expect any material future cash expenses related to these impairments.