NORTH CHICAGO (dpa-AFX) - Today's top gainers in the biotech space include CareDx, which rallied after Medicare finalized its Local Coverage Determination process for molecular testing of solid organ allograft rejection; AtaiBeckley, after agreeing to be acquired by Eli Lilly; and Abbott, after reporting second-quarter results and providing an upbeat outlook, among others.
Read on.
CDNA Soars to New High
CareDx Inc. (CDNA) was the top gainer on Thursday, with shares soaring more than 35%, following finalization of the Medicare Local Coverage Determination (LCD) process related to molecular testing for solid organ allograft rejection.
The finalized policy confirms Medicare coverage for the company's transplant surveillance portfolio, including AlloSure Kidney, AlloMap Heart, AlloSure Heart, and AlloSure Lung, reinforcing coverage across kidney, heart, and lung transplant recipients. The policy is expected to come into effect on August 30, 2026.
The company is scheduled to report financial results for the second quarter 2026 after market close on Thursday, July 30, 2026.
CDNA closed Thursday's trading at $40.34, up 35.60%.
So long, ATAI
AtaiBeckley Inc. (ATAI) jumped more than 33% after announcing its acquisition by Eli Lilly and Co. (LLY) in a transaction valued at up to $3.8 billion, comprising $2.8 billion in upfront cash and up to $1.0 billion in contingent value rights (CVRs).
The CVRs are payable upon achievement of specified development and regulatory milestones related to the BPL-003 and VLS-01 programs.
BPL-003 is the company's lead asset being developed for treatment-resistant depression for which it has initiated Phase 3 activities. VLS-01, which is also being developed for treatment-resistant depression, is the second most advanced program in the pipeline, advancing in an ongoing Phase 2b study.
The deal is expected to close in the third quarter of this year.
ATAI closed Thursday's trading at $7.15, up 33.40%.
APLM On the Move
Apollomics Inc. (APLM) added another 21% on Thursday, bringing its weekly gains to more than 60% so far this week.
The company's lead clinical-stage candidate, Vebreltinib (APL-101), is a potent and highly selective c-MET inhibitor being developed for the treatment of non-small cell lung cancer (NSCLC) and other advanced solid tumors harboring c-MET alterations.
A Phase 2 exploratory clinical trial of Vebreltinib for the treatment of patients with locally advanced or metastatic clear cell sarcoma is ongoing.
On July 8, 2026, Apollomics was notified by Nasdaq that it had regained compliance with Market Value of Listed Securities (MVLS) requirement under Listing Rule 5550(b)(2), and the compliance matter was subsequently closed.
APLM closed Thursday's trading at $19.19, up 22.23%.
VRAX Highlights Undervalued Pipeline Potential
Virax Biolabs Group Ltd. (VRAX) jumped 13% after Chief Executive Officer James Foster issued a shareholder update highlighting the company's fiscal 2026 financial results, commercial progress, financing activities, and restored Nasdaq compliance.
The company's business is focused on two core platforms: ViraxImmune, its lead T cell-based immune profiling and diagnostic platform in development, and ImmuneSelect, its research-use-only portfolio of peptide pools, ELISpot plates, and other immune reagents.
For the fiscal year ended March 31, 2026, the company reported $6.4 million in cash, $8.3 million in total assets, $7.3 million in shareholders' equity, and $1.0 million in liabilities. Liquidity was further strengthened through a $3.3 million capital raise, while Nasdaq compliance was regained following a 1-for-25 reverse share split.
On the commercial front, Virax signed a multi-country supply agreement with Fosun Diagnostics to expand ImmuneSelect into six Southeast Asian markets, beginning with tuberculosis research in Thailand. Meanwhile, R&D spending rose to $3.7 million, G&A costs fell to $2.7 million, and net loss narrowed to $5.0 million, reflecting disciplined financial management.
Foster stressed that despite these advances, the company's market cap still undervalues its cash reserves, equity position, and clinical pipeline. He pointed to upcoming milestones - advancing the ViraxImmune T cell profiling platform, building a U.S. market-entry pathway, and turning ImmuneSelect into revenue-generating opportunities - as critical drivers of long-term shareholder value.
VRAX closed Thursday's trading at $3.90, up 13.04%.
ENTX On Watch
Entera Bio Ltd. (ENTX) was another top gainer of the day, with shares jumping more than 12%.
The company's lead drug candidate is EB613, the first oral anabolic (bone-building) tablet in development for the treatment of osteoporosis. Entera plans to initiate its Phase 3 clinical trial in late 2026, with topline results expected in the second half of 2028.
ENTX closed Thursday's trading at $2.00, up 12.36%.
ABT Jumps on Upbeat Outlook
Abbott Laboratories (ABT) gained more than 10% on Thursday, following its Q2 financial results and revised adjusted earnings outlook for the year.
Net sales for the second quarter of 2026 increased 13% to $12.6 billion from $11.142 billion in the year-ago quarter, with comparable sales growth of 4.8%. Adjusted earnings for Q2, 2026 were $2.29 billion or $1.31 per share, compared to $2.21 billion or $1.26 per share, in Q2, 2025.
For fiscal year 2026, the company now expects adjusted earnings per share of $5.45 to $5.60, compared to the previous forecast range of $5.38 to $5.58. The adjusted EPS was $5.15 in the prior year.
ABT closed Thursday's trading at $98.83, up 10.71%.
Did you know?
A study published recently in the peer-reviewed journal PLOS ONE comparing people who sat continuously for 30 minutes or longer with those who regularly stood up or moved around found that prolonged, uninterrupted sitting was associated with an increased risk of cancer mortality.
Every additional hour of prolonged, uninterrupted sitting per day was associated with a 10% higher risk of cancer death, while each additional hour of interrupted sitting, with regular breaks to stand or move, was associated with a 19% lower risk.
Replacing prolonged sitting with physical activity was linked to a reduced risk of cancer mortality. Substituting one hour of sitting per day with light activity (such as walking or light chores) was associated with a 12% lower risk of cancer death. Replacing 30 minutes of sitting with moderate activity was linked to an 8% lower risk, while replacing just five minutes of sitting with vigorous activity was associated with a 22% lower risk.
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