Biotech & Genomic Medicine▲
Can-Fite, SeaStar Medical, Elicio Lead Biotech Gainers on Study Updates and Revenue Growth
Can-Fite BioPharma, SeaStar Medical, and Elicio Therapeutics were among the top biotech gainers on Wednesday. Can-Fite soared over 55% after its Phase 2a pancreatic cancer study with Namodenoson met its primary safety endpoint and showed durable overall survival, prompting plans for a Phase 2b combination trial. SeaStar Medical jumped more than 30% as net revenue for its flagship QUELIMMUNE pediatric therapy rose to approximately $0.5 million in the first quarter of 2026 from $0.3 million a year earlier, with full-year 2026 product revenue expected to reach about $2 million. Elicio Therapeutics climbed over 31% following its addition to the Russell 2000 and Russell 3000 Indexes and the refinement of its Phase 3 development strategy for ELI-002, despite the Phase 2 AMPLIFY-7P trial missing its primary endpoint. Regentis Biomaterials gained more than 29% as it prepares to begin European surgeon training for its CE Mark-approved knee cartilage implant GelrinC. TransCode Therapeutics rose over 20% for a second straight day, with a Phase 2a trial of its metastatic cancer therapy TTX-MC138 underway and preliminary results expected in the fourth quarter of 2026. Outset Medical advanced over 18% after reporting first-quarter 2026 revenue of $27.9 million and projecting full-year revenue between $125 million and $130 million.