Today's gainers list includes ABIVAX, which recently announced positive ulcerative colitis trial results; Cingulate, which is working toward resubmission of a New Drug Application for an ADHD therapy; and Alpha Tau, following its joint partnership with Tolmar to bring Alpha DaRT Therapy to U.S. Urological Cancer Patients, among others.
Read on…
ABVX On Track for NDA Submission
ABIVAX Société Anonyme (ABVX) was the top gainer on Wednesday - with shares soaring over 24%.
As recently as June 1, 2026, the company announced positive topline results from its Phase 3 ABTECT maintenance trial evaluating its drug candidate Obefazimod in adults with moderately to severely active ulcerative colitis. The results demonstrated that both the 25 mg and 50 mg doses of Obefazimod met the primary endpoint of clinical remission and all key secondary endpoints at Week 44.
The company plans to submit a New Drug Application to the FDA for Obefazimod in ulcerative colitis in late Q4 2026.
ABVX closed Wednesday's trading at $90.15, up 24.34%.
CING On Investors' Radar
Cingulate Inc. (CING) jumped more than 21% on Wednesday, on no specific news.
Earlier in the week, the FDA declined to approve the company's New Drug Application for CTx-1301 for the treatment of Attention Deficit/Hyperactivity Disorder, citing specific Chemistry, Manufacturing and Controls (CMC) issues.
However, no concerns were raised regarding the clinical safety or efficacy of CTx-1301.
The company expects to complete the CMC work already underway with its manufacturing partner. With nearly $30 million in cash reserves, Cingulate believes it has sufficient capital to address the issues raised by the FDA, execute on the resubmission process and continue pre-commercial activities into 2027.
CING closed Wednesday's trading at $4.88, up 21.09%.
Alpha Tau Partners With Tolmar
Alpha Tau Medical Ltd. (DRTS) has inked a strategic collaboration agreement with Tolmar International Ltd., a commercial player in the U.S. urology, oncology, endocrinology and pediatric endocrinology markets, to develop and commercialize Alpha DaRT for the treatment of prostate cancer in the United States.
In December 2025, the FDA approved an Investigational Device Exemption (IDE) application to initiate a pilot study for the treatment of patients with locally recurrent prostate cancer using the company's Alpha DaRT technology.
As part of the agreement, Tolmar is investing an upfront $15 million manufacturing investment, a $20 million equity stake purchased at $11.99 per share (a 25% premium to 30-day VWAP), and up to $161.5 million in potential milestone payments.
In exchange, Tolmar receives exclusive U.S. commercialization rights for Alpha DaRT in prostate cancer, along with an option to expand into bladder cancer for additional consideration.
Alpha Tau will remain the manufacturer and supplier of Alpha DaRT, retaining meaningful exposure to the product's commercial success through a supply price equal to 60% of Tolmar's onward net sales, subject to certain adjustments.
DRTS closed Wednesday's trading at $10.58, up 18.48%.
MiniMed Makes a Big Leap
MiniMed (MMED), a global medical technology company developing and marketing a comprehensive suite of solutions for the management of diabetes, jumped nearly 16% on strong financial results.
The company announced a strong finish to its fiscal year ended April 24, 2026, driven by strength in international markets and continued global adoption of the MiniMed 780G system.
Looking ahead, the company is confident that its launches of MiniMed Flex and MiniMed Go will support long-term growth acceleration and value creation.
Worldwide net sales for the fiscal year 2026 were $3.102 billion, representing growth of 14.2% on a reported basis and 8.0% organically compared to the prior year.
For the fiscal year ending April 30, 2027, MiniMed expects organic revenue growth of around 10%, including an estimated 1.0% to 1.5% contribution from the extra week in FY27.
MMED closed Wednesday's trading at $14.26, up 15.94%.
RZLT On Watch
Rezolute Inc. (RZLT) provided an interim update on its ongoing open-label Phase 3 study of Ersodetug in tumor hyperinsulinism, sending shares up over 14% on Wednesday.
In the study, dubbed upLIFT, the company has enrolled eight participants to date, including patients with both insulinoma and non-islet cell tumor hypoglycemia (NICTH), and is approximately halfway toward its target enrollment of 16 participants.
According to the interim data announced, of the 8 participants enrolled, 6 have already met the responder criterion for the study's primary endpoint, which is the number of participants achieving at least a 50% reduction from baseline in intravenous glucose requirements (glucose infusion rate; GIR) within the 8-week pivotal treatment phase. Each of these 6 participants also achieved a complete discontinuation of intravenous glucose requirements with the administration of Ersodetug.
The company expects to announce topline results for the fully enrolled open-label upLIFT study in the second half of 2026.
RZLT closed Wednesday's trading at $4.58, up 14.50%.
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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.