12:21 PM EDT, 08/30/2024 (MT Newswires) -- GRAIL (GRAL) shares fell more than 7% in recent Friday trading even after the company reported study data showing clinical performance of its Galleri multi-cancer early detection blood test to find more aggressive prostate cancers.

The data support the performance of the Galleri test to preferentially screen for aggressive, clinically significant prostate cancer as compared to slow-growing cases in the Circulating Cell-free Genome Atlas and Pathfinder studies, the company said late Thursday. The detailed findings were published in JCO Precision Oncology.

"The results of this study demonstrate that the use of MCED tests in a population-based screening program is unlikely to contribute to overdiagnosis of slow-growing prostate cancers that may not need treatment," said study lead author Brandon Mahal.

"That being said, clinically validated MCED tests like Galleri reveal that when a prostate cancer signal is detected, it usually indicates aggressive disease and additional diagnostic evaluation is necessary."

Price: 13.66, Change: -1.16, Percent Change: -7.83