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Guardant Health shares climb on expanded Medicare coverage for colon cancer test

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Shares of Guardant Health (NASDAQ:GH) have increased by 5.0% in premarket trading Tuesday following the company's announcement that its Guardant Reveal test for colon cancer has been granted expanded Medicare coverage.
Guardant Health Inc.'s shares experienced a significant increase following the announcement that Medicare would expand coverage for the company's Shield blood test for colorectal cancer screening. This decision by the Centers for Medicare & Medicaid Services (CMS) to cover the test for individuals aged 50 to 85 at average risk for colorectal cancer, effective from July 17, 2023, marks a pivotal moment for Guardant Health. The Shield test, which detects colorectal cancer through a simple blood draw, offers a less invasive alternative to traditional colonoscopy screenings. This coverage expansion is expected to broaden access to colorectal cancer screening, potentially increasing early detection rates and improving patient outcomes. The news led to a 15% surge in Guardant Health's stock price, reflecting investor confidence in the company's growth prospects due to this expanded market access.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/health/general/guardant-health-shares-climb-on-expanded-medicare-coverage-for-colon-cancer-test/ar-AA1xARqn ]