GRAIL, Inc. (NASDAQ:GRAL) shares plummeted 16.15% during Monday's pre-market session.

The sharp decline follows the release of results from the NHS-Galleri trial, which evaluated the effectiveness of GRAIL's Galleri test in reducing late-stage cancer diagnoses. While the trial showed a favorable trend in reducing Stage IV cancer diagnoses, the primary endpoint was not met.

The stock had already closed nearly 51% lower on the previous trading day, indicating continued negative investor sentiment following the trial results announcement.