Grail jumps as FDA raises no major concerns on cancer test
BUZZ-Grail jumps as FDA raises no major concerns on cancer test ** Shares of cancer test maker Grail GRAL.O rise 34.6% to over seven-month high of $108.71
** U.S. FDA releases briefing documents showing no major safety or technical concerns regarding Grail's Galleri multi-cancer screening test
** FDA focuses its panel discussion primarily on product labeling and whether data supports an explicit "early detection" claim
** RBC Capital Markets analysts say the documents "read positively for Galleri's approval case" because questions center "mostly on labeling rather than core test validity and safety"
** Brokerage Piper Sandler views the update as "constructive for GRAL" and expects "a favorable vote"
** The Galleri blood test screens for signals across more than 50 cancers as a complement to existing single-cancer screening methods
** The FDA's advisory committee is scheduled to meet on Wednesday
** As of last close, stock up 24.45 YTD
(Reporting by Kamal Choudhury in Bengaluru)
Recent news on Grail
See all newsGrail rises as TD Cowen more than doubles PT on FDA, Medicare optimism
Grail's cancer blood test nears landmark FDA approval, but insurance coverage looms
U.S. RESEARCH ROUNDUP-Chevron, Mobility Global, Tesla
Street View: Grail cancer test's progress boosts prospects for multi-cancer detection market
NASDAQ RESUMED AT 07:05 AM