Grail slumps after Q4 results, cancer test misses main study goal

Shares of cancer test maker Grail Inc GRAL.O fall 31.5% to $69.50 in aftermarket trading

Reports wider Q4 net loss of $99.2 million, an increase of $2.1 million or 2%

Reports Q4 revenue of $43.6 million, in line with analysts' estimates - data compiled by LSEG

Co separately announces the results of a trial for its multi-cancer early detection test Galleri, which is used to screen for up to 50 types of cancer

Says test did not meet the main goal of showing a statistically significant reduction in late-stage cancer diagnoses

However, adds there was a positive trend in a pre‑defined list of 12 deadly cancers; says the group that got the Galleri test had fewer late-stage cancer diagnoses after the first screening round

Shares of the company more than tripled last year