Grail stock spikes as FDA hints at favorable view of Galleri cancer test
Grail shares jumped 33% after the FDA released documents suggesting a positive stance toward its Galleri multi-cancer blood test ahead of an advisory committee meeting.
Grail’s stock rallied sharply after the Food and Drug Administration posted briefing materials that indicate the agency may view the Galleri early-detection test favorably. An advisory panel of experts will meet on Wednesday to discuss the test, and while the FDA is not bound by the panel’s advice, it usually follows it. Investors had already been buying the stock in anticipation, and the test, currently offered as a lab-based diagnostic, could gain Medicare and private-insurance reimbursement if approved.
Why it matters
FDA’s stance could determine whether Galleri gains insurance coverage, affecting early cancer detection for many patients.
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