Nuwellis Inc

Nuwellis has appointed Dale Brady as Principal R&D Engineer to strengthen its product development organization. Brady brings more than 25 years of medical device leadership experience in research and development, operations, manufacturing, quality systems, and commercialization. He joins the company's R&D team to advance existing and new product development programs. Brady most recently served on the executive leadership teams of Peytant Solutions and Endogenex, and previously spent nearly a decade at Osprey Medical. He is an inventor or co-inventor on 10 issued U.S. patents and 16 pending patent applications.

Glucotrack, Bausch Health, and Corcept Therapeutics were among Thursday's top biotech gainers, driven by pipeline progress and strong financial results. Glucotrack's subsidiary Lokahi Therapeutics advanced development of LT-100, a non-narcotic therapy derived from honeybee venom, with plans to begin clinical evaluation of a simplified single-injection method as early as the fourth quarter of 2026, sending shares up 173.68% to $0.78. Bausch Health raised its full-year 2026 revenue outlook to between $10.790 billion and $11.040 billion after reporting second-quarter consolidated revenue of $2.85 billion, a 13% increase, and its stock rose 28.85% to $6.03. Corcept Therapeutics posted second-quarter net income of $43.0 million on revenue of $256.1 million, including $208.6 million from Korlym and its authorized generic and $47.6 million from newly launched Lifyorli, and lifted its 2026 revenue forecast to $1.1 billion to $1.2 billion, pushing shares up 27.29% to $118.32. Nuwellis surged 135.45% to $4.45 after a study on its Aquadex therapy was accepted by a peer-reviewed journal, while Neogen touched a 52-week high of $11.56 and closed up 22.26% at $11.53 following its fiscal 2026 results and fiscal 2027 guidance.

Incoming Nuwellis CEO Mike McCormick outlined strategic priorities in a letter to shareholders, emphasizing continued market expansion in pediatrics and revenue generation. The company reported 26% year-over-year revenue growth in the first quarter of 2026, with gross margin improving to 70.1%, a 14 percentage point increase from the prior-year period. Approximately 75% of revenue currently comes from pediatric and critical care categories, and Nuwellis is working to expand the Aquadex indication from patients weighing 20 kilograms down to those as low as 5 kilograms, having recently engaged with the FDA on a submission strategy using existing clinical and real-world evidence. The company also acquired Rendiatech, Inc. earlier this year, adding automated kidney function monitoring technology to complement its Aquadex platform in the ICU. McCormick, who assumes the CEO role effective June 30, 2026, stressed disciplined capital allocation, reducing cash burn, and maintaining the Nasdaq listing as key objectives.