On May 22, Guardant Health fell 8.48% in pre-market trading, trading at $118.01/share, with trading volume of $36,900. The decline comes one session after the stock rallied over 5% following FDA approval of its updated liquid biopsy test.

On May 21, the company announced that the U.S. Food and Drug Administration approved its Guardant360 Liquid CDx as a companion diagnostic for multiple therapies in non-small cell lung cancer and colorectal cancer. The test integrates genomic and epigenomic profiling from a single blood draw, provides higher sensitivity to detect circulating tumor DNA, and covers a 100-times wider genomic footprint than the previously approved Guardant360 CDx. Results can be delivered within seven days. The stock rose approximately 5% on that news. The current pre-market decline erases those gains and more, suggesting the market may be reassessing the near-term commercial impact of the approval.

Guardant Health is a precision oncology company that provides blood and tissue tests, data sets, and analytics to help advance cancer detection and treatment globally.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)