Grail Stock Has Soared 180% in 6 Months. Here's Why the Stock Has More Room to Run.
Grail 's (NASDAQ: GRAL) stock surged after a Food and Drug Administration (FDA) Advisory Committee voted favorably on the safety, benefit-risk profile, and effectiveness of its multi-cancer early detection test (MCED), Galleri. It marks a remarkable turnaround for the stock after a February crash following the release of top-line results from a landmark Galleri trial that revealed it had missed its primary endpoint. Here's why this recovery could continue. The Galleri test is already in use. It's available on an "out-of-pocket" basis, whereby patients must pay for the test directly. However, sales will really grow when medical insurers start covering it. While FDA approval isn't strictly necessary for insurers to cover it, in practice, it is a prerequisite for widespread coverage. In addition, Grail needs to convince insurers that it's efficacious and cost-effective. Image source: Getty Images. Continue reading