Biotech and healthcare names were among the notable movers in Wednesday's after-hours trading session, with several small-cap companies posting sharp gains.
IO Biotech, Inc. (IOBT) surged 19.36% to $0.25 after announcing that it will explore a range of strategic alternatives aimed at maximizing stockholder value. The company noted that potential options under consideration include a merger, business combination, sale of assets, or even liquidation and dissolution. In addition, IO Biotech is evaluating a further reduction-in-force and other measures to significantly cut operating expenses while it reviews these alternatives. The announcement sparked strong investor interest, driving the stock higher in extended trading.
Cue Biopharma, Inc. (CUE) advanced 10.67% to $0.42 in after-hours action. The move came despite the absence of company-specific news on Wednesday, suggesting speculative trading activity may have fueled the gain.
InfuSystem Holdings, Inc. (INFU) climbed 7.19% to $9.24 as of 7:54 PM EST. The stock rose without any fresh corporate updates, continuing a trend of strength in the medical services provider.
Cabaletta Bio, Inc. (CABA) added 7.68% to $2.52 in extended trading. While there was no new announcement on Wednesday, investors may still be digesting the company's January 12 update outlining its 2026 strategic priorities. Cabaletta highlighted plans to support the development and launch of rese-cel (resecabtagene autoleucel), while also advancing automated manufacturing innovations to expand patient access in autoimmune diseases.
Iterum Therapeutics plc (ITRM) gained 3.60% to $0.3284 after hours. The move came without any fresh news, but the micro-cap biotech stock saw modest buying interest late in the session.
BioCardia, Inc. (BCDA) rose 3.91% to $1.33 in after-hours trading. Similar to several other gainers, the company did not release any updates on Wednesday, yet shares still attracted buyers in extended activity.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.