Movement Alert｜Abbott Laboratories Rises 3.07% in Regular Trading, FDA Approves Its Exclusive Colorectal Cancer Blood Screening Test

Market Focus07-28

On July 28, Abbott Laboratories rose 3.07% in regular trading, trading at $108.93/share, with turnover of $344 million.

On the news front, the FDA on July 27 officially approved SimpleScreen CRC, a blood-based colorectal cancer screening test co-developed by Freenome and Abbott. The test targets adults aged 45 and older at average risk for the disease, representing a significant breakthrough in non-invasive colorectal cancer screening. Under the commercial agreement, Abbott will exclusively commercialize the test in the US beginning this fall, while Freenome receives a $100 million milestone payment from Abbott for the FDA approval.

The approval comes on the heels of Abbott's strong Q2 results reported on July 16, in which total revenue reached $12.59 billion (up 13% YoY) with the diagnostics segment surging 42%. The company also raised its full-year adjusted EPS guidance to $5.45-$5.60. Market expectations for accelerated second-half growth have been further reinforced by this new product approval, which opens an additional growth avenue for Abbott's diagnostics business.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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