GRAIL Inc. (NASDAQ:GRAL) stock plunged during Friday’s premarket session following the announcement of results from the NHS-Galleri trial, which evaluated the effectiveness of the Galleri test in reducing late-stage cancer diagnoses.
The Galleri multi-cancer early detection test is a proactive tool to screen for cancer. With a simple blood draw, Galleri can detect more than 50 types of cancer before symptoms appear.
The stock’s decline comes as the broader market experienced gains, with the Nasdaq rising 0.43% and the S&P 500 up 0.35%, indicating that company-specific factors may be influencing the price action.
Trial Data
The company’s NHS-Galleri trial results, released on Thursday, showed a favorable trend in the reduction of Stage IV cancer diagnoses, although the primary endpoint was not met.
Following the disclosure, Johnson Fistel has launched an investigation into GRAIL to assess whether the company’s executive officers complied with federal securities laws on investor disclosures and whether investor losses may be recoverable.
The trial evaluated annual multi-cancer screening with the Galleri test in England’s National Health Service (NHS) over three years in 142,000 participants aged 50 to 77.
Adding Galleri to standard of care screening resulted in a substantial and clinically meaningful reduction in Stage IV diagnoses compared with standard of care alone …