Biotech Stock Plummets on Cancer Screening Trial Results

Biotech stock Grail Inc (NASDAQ:GRAL) is taking a nosedive today, brushing off better-than-expected fourth-quarter results after the company's three-year cancer screening trial failed to meet its main goal. Last seen down 47.7% at $53.11, the equity is headed for its largest single-day percentage drop on record as it hits its lowest levels since September. Grail is a spinoff of Illumina (ILMN), and has been publicly traded since June 2024. Year over year, shares are still holding on to an 11% lead, though t ...