Grail reported that its multi‑cancer blood test showed promising signals but failed to meet the primary endpoint in a large UK study conducted with the NHS. The company noted some encouraging secondary data but the miss prompted a sharp drop in after‑hours trading. Grail’s Galleri remains commercially available but not FDA‑approved; the setback raises questions about clinical utility thresholds for multi‑cancer early detection assays and will likely slow payer and regulator enthusiasm pending further analyses and follow‑up studies.