Grail’s Galleri blood test saw a sharp stock jump after the FDA posted briefing documents ahead of an advisory committee meeting. The meeting is scheduled for Wednesday, where the FDA panel will discuss the test; while the FDA is not required to follow advisory guidance, it often does. Investors had been positioning ahead of the panel, expecting that FDA feedback could influence whether the test’s route moves toward reimbursement and broader clinical uptake. The test is already available as a laboratory-developed diagnostic, but FDA approval is expected to affect coverage dynamics for Medicare and other payors. The FDA offered limited public commentary in the run-up, keeping the focus on the briefing package’s contents rather than agency signaling. The advisory discussion now becomes the next near-term catalyst for Grail and for regulators assessing multi-cancer screening performance and implementation.