Virax Biolabs Jumps 100% After Fosun Diagnostics Deal

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Virax Biolabs Group shares surged more than 100% on Thursday after its UK subsidiary signed an exclusive multi-country commercial supply agreement with Fosun Diagnostics for the ImmuneSelect immune profiling product line. The deal covers six Southeast Asian markets—Thailand, Vietnam, Indonesia, the Philippines, Singapore, and Malaysia—and is expected to generate near-term revenue while expanding Virax’s commercial presence in the region. Separately, the company announced a definitive agreement to immediately exercise certain outstanding preferred investment options to purchase up to 548,000 ordinary shares at a reduced exercise price of $6.00 per share, down from $10.00. VRAX closed at $6.36, up 100%. Other notable biotech movers included Forte Biosciences, which soared 78% after positive Phase 1b vitiligo data for FB102, and First Tracks Biotherapeutics, which jumped more than 55% on no specific news.

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