Guggenheim starts Grail with Neutral on early stage of market

Guggenheim initiated coverage of Grail with a Neutral rating and no price target Grail is the first-mover in the multiple cancer early detection space with its liquid biopsy Galleri test, the analyst tells investors in a research note. The firm says the premise of the company’s approach is to detect 50 different cancers in a simple blood test. While multiple cancer early detection represents a very large total addressable market and Grail is the first mover, the market still is very early in development when it comes to regulatory and reimbursement hurdles, Guggenheim contends. The firm adds there is ongoing debate about the utility and role that Grail’s Galleri test should play on the market based on its design. It comes out on the sidelines pending market development.