Here's Why Grail Stock Bounced Back 16% Today
Grail (NASDAQ: GRAL) stock rose by more than 16% by midday. The move follows a couple of days of brutal declines after the release of top-line results from its three-year, 142,000-person trial of its Galleri multi-cancer early detection (MCED) test with England's National Health Service.
I discussed the stock's decline on the first day of trading after the release, and the market punished it again on Monday. However, let's focus on why the market may be optimistic about future developments.
As a reminder, the primary endpoint of the trial (which it missed) was to achieve a statistical significant reduction in combined Stage III and Stage IV cancers across 12 deadly indications.
Source Fool.com
