Virax Biolabs Group Limited Ordinary Shares

Biotech stocks surged Thursday, led by CareDx which soared over 35% after Medicare finalized a policy confirming coverage for its transplant surveillance portfolio, including AlloSure Kidney and AlloMap Heart, effective August 30, 2026. AtaiBeckley jumped more than 33% on news it will be acquired by Eli Lilly in a deal valued at up to $3.8 billion, comprising $2.8 billion in upfront cash and up to $1.0 billion in contingent value rights tied to milestones for its depression treatments BPL-003 and VLS-01. Abbott Laboratories gained over 10% after reporting second-quarter net sales of $12.6 billion, a 13% increase, and raising its full-year adjusted earnings per share outlook to a range of $5.45 to $5.60. Apollomics added another 21%, bringing its weekly gain to more than 60%, as its lead candidate Vebreltinib advances in a Phase 2 trial for clear cell sarcoma and the company regained Nasdaq compliance. Virax Biolabs rose 13% after its CEO highlighted a narrowed net loss of $5.0 million, a $3.3 million capital raise, and a supply agreement with Fosun Diagnostics, while Entera Bio climbed over 12% ahead of a planned Phase 3 trial for its oral osteoporosis tablet EB613.

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.