Why Grail Shares Crashed Today
Multi-cancer early detection (MCED) test company Grail's (NASDAQ: GRAL) stock was down 16% as of 12 pm today. The slump comes as the market digests the company's recent presentation at the American Society of Clinical Oncology (ASCO) Annual Meeting.
As recently discussed, investors were hoping that the data presented at ASCO from its 3-year landmark trial of the Galleri test with England's National Health Service (NHS) would strengthen the case for Food and Drug Administration (FDA) approval and, arguably more importantly, insurer adoption.
But judging by the market's response, that did not happen.
Source Fool.com
