FDA documents suggest favorable view for Grail cancer test before Wednesday meeting
The Food and Drug Administration posted documents suggesting a positive outlook for Grail's Galleri blood test ahead of an advisory committee meeting scheduled for Wednesday.
Stock prices rise on news
Shares in Grail jumped 33 percent on Monday following the release of the documents. Investors had been buying stock before the meeting to anticipate a good outcome. The company develops a blood test designed to find many cancers early.
Regulatory approval could help payers
FDA approval would likely lead to reimbursement from Medicare and other insurance companies. The test is already available as a laboratory-based diagnostic tool for patients. Experts will discuss the test at the upcoming advisory committee gathering.
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