Aug 13 (Reuters) - Grail Inc said on Tuesday it has cut about 350 existing jobs as the diagnostics company focuses on the development of its flagship cancer-detection test Galleri.

The company, which listed its shares on the Nasdaq after being spun out of gene sequencing machine maker Illumina in June, is betting on commercial partnerships with health systems, employers and life insurance companies through Galleri.

"As part of this restructure, we are reducing existing headcount and planned hires for 2024 by about 30% and substantially decreasing investment in product programs beyond Galleri," Grail said in a statement.

The cancer test maker expects these cost reductions to extend its existing cash runway from the second half of 2026 into 2028 and anticipates reducing its burn in 2025 to $325 million. (Reporting by Christy Santhosh; Editing by Shilpi Majumdar)