Grail’s (NASDAQ: GRAL) stock closed at a record high of $116.06 in January.
That marked a 732% gain from its $13.95 opening price following its spin-off from Illumina (NASDAQ: ILMN) in June 2024
But as of this writing, it trades at about $68. High expectations for Grail’s Galleri blood test, which aims to detect signals from dozens of cancers before any symptoms appear, initially drove its stock higher. But its stock plummeted in February after its largest NHS England trial for Galleri failed to meet its primary endpoint.
Does that pullback represent a buying opportunity for investors who can tune out the near-term noise? Grail is still growing without the FDA’s approval The FDA hasn’t approved Galleri yet, but Grail still sells it on a cash-only basis (at $749 to $949 per test) to affluent customers, some employers, hospital pilots, and telehealth programs. That demand was strong enough to boost its revenue from $93 million in 2023 to $147 million in 2025.