Tuesday's top gainers in the healthcare sector included Bluejay Diagnostics, which inked a strategic partnership with Argonaut; Picard Medical, which is advancing its next-generation Emperor Total Artificial Heart; and Cingulate, which rallied despite a regulatory setback, among others.
Read on…
Bluejay in the Green
Bluejay Diagnostics Inc. (BJDX), a medical diagnostics company focused on near-patient testing for critical care, led the pack of gainers - with shares soaring 100% on Tuesday.
The company has entered into a strategic partnership with Argonaut Manufacturing Services to support the advancement of Bluejay's Symphony platform.
Symphony, an investigational device, is a diagnostic detection platform designed to perform complex clinical laboratory tests with unprecedented simplicity. Using just three drops of blood, it provides highly sensitive results at parts-per-billion (pg/mL) levels in about 20 minutes, with no additional reagents or sample preparation required.
The company has also announced up to $23.6 million private placement priced at-the-market under Nasdaq Rules. The private placement is expected to close on or about June 3, 2026.
BJDX closed Tuesday's trading at $4.34, up 100%.
Picard Unveils Progress on Next-Gen Artificial Heart
Picard Medical Inc. (PMI) announced it has successfully completed a series of animal implant studies using its next-generation Emperor Total Artificial Heart Platform at the University of Arizona and Banner University Medical Center in Tucson.
Picard is the parent company of SynCardia Systems LLC, maker of the world's first and only total artificial heart approved by both the U.S. FDA and Health Canada.
The Emperor Total Artificial Heart (TAH), which is based on the well-established SynCardia artificial heart, is designed to improve patient mobility and serve as a step toward the development of a fully implantable artificial heart.
The new device has a major upgrade - two separate motors to control blood flow to the body and lungs independently, allowing the heart to respond more naturally to the body's changing needs, according to the company.
PMI closed Tuesday's trading at $0.27, up 60.33%.
Legend Rallies on LB2501 and LB2102 Clinical Data
Legend Biotech Corp. (LEGN) will be presenting promising preliminary Phase 1 data for LB2501 in patients with relapsed/refractory B-cell non-Hodgkin lymphoma (R/R B-NHL), at the European Hematology Association (EHA) 2026 Congress, taking place June 11-14, 2026, in Stockholm, Sweden.
As of April 1, 2026, in the phase 1 trial, 12 patients with R/R B-NHL were treated across two dose levels (DL1 and DL2). According to the company, an Objective response rate (ORR) of 100% (6/6) was observed in the dose level 2 cohort, including a complete response rate of 83.3% (5/6) in patients with relapsed/ refractory NHL.
Early phase 1 clinical data for LB2102 in patients with relapsed or refractory small cell lung cancer (SCLC) or large-cell neuroendocrine carcinoma (LCNEC), were presented at the American Society of Clinical Oncology (ASCO) Annual Meeting on June 1, 2026.
According to the company, the LB2102 data show early evidence of clinical activity and a manageable safety profile. At higher dose levels, an objective response rate (ORR) of 28.6% and disease control rate (DCR) of 78.6% were observed, including durable responses in some heavily pretreated patients.
LEGN closed Tuesday's trading at $36.28, up 42.22%.
Cue Announces Board Transitions
Cue Biopharma Inc. (CUE), a clinical-stage therapeutics company, announced the transition of its board as it continues its strategic growth and transformation to support late clinical stage capabilities and activities. Shares were up nearly 19% on Tuesday.
Effective May 29, 2026, four independent directors, Jill Broadfoot, Peter Kiener, Frank Morich, and Patrick Verheyen, stepped down from the board. At the same time, Daniel Camardo and Viola Meehan have been appointed to the board.
The company's lead asset, CUE-221, is a novel anti-IgE antibody with a dual mechanism of action, currently in Phase 2 development for allergic diseases.
CUE closed Tuesday's trading at $28.62, up 18.93%.
Cingulate Stock Rises Despite CRL Setback
Cingulate Inc. (CING), despite a disappointing regulatory update on its lead asset CTx-1301, saw its shares rise 11% on Tuesday.
The FDA has declined to approve CTx-1301 for the treatment of Attention Deficit/Hyperactivity Disorder (ADHD), citing specific Chemistry, Manufacturing and Controls (CMC) issues.
The regulatory agency did not identify any clinical safety or efficacy concerns. The company plans to promptly address the agency's requests and submit the required information.
CING closed Tuesday's trading at $4.03, up 11.94%.
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Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.