(RTTNews) - Today's top gainers in the biotech space include NextCure, ahead of its planned merger with a private company that will create a newly branded public entity; Basel Medical, which recently regained Nasdaq compliance; and Outlook Therapeutics, which is awaiting an FDA decision expected by the end of the month, among others.

NextCure Inc. (NXTC) was the top-performing stock on Tuesday, with shares soaring more than 200% on news of the company entering into a definitive merger agreement with Avere Therapeutics, Inc., a privately held biotechnology company, for an all-stock transaction.

The transaction is expected to close in the second half of 2026, and the combined company is expected to operate as Avere Therapeutics, Inc., and trade on Nasdaq under the ticker symbol "AVRX."

Avere Therapeutics' lead program, AVR-001, is a differentiated oral peptide interleukin-23 (IL-23) receptor antagonist, with Phase 1b psoriasis data supporting its potential to be rapidly developed as a convenient, once-weekly oral therapy.

A Phase 2b study of AVR-001 in psoriasis is expected to begin in early 2027, with topline results anticipated in the first half of 2028. Separately, a Phase 2b psoriasis study in China being conducted by Avere's partner, Hansoh, is expected to report results in 2027.

NXTC closed Tuesday's trading at $6.58, up 201.83%.

Shares of Basel Medical Group Ltd (BMGL), a Singapore-based provider of orthopedic and trauma services, sports medicine, and orthopaedic procedures, among others, jumped more than 26% on Tuesday, on no specific news.

The company regained compliance with Nasdaq's minimum bid price requirement on July 10, 2026. A 1-for-12 reverse stock split was implemented on June 22, 2026.

BMGL closed Tuesday's trading at $8.12, up 26.59%.

Dyadic International Inc. (DYAI), a biotechnology company focused on the development and commercialization of scalable microbial protein production platforms for use across life sciences, food, nutrition, industrial, and biopharmaceutical sectors, was up more than 18% on Tuesday.

Last week, the company highlighted continued progress across multiple global health collaborations that further validate the capabilities of its proprietary C1 protein production platform for RSV and malaria.

DYAI closed Tuesday's trading at $1.21, up 18.63%.

Nuwellis Inc. (NUWE), a medical technology company committed to delivering solutions for patients with cardiorenal conditions, jumped 15% on Tuesday.

The company will showcase its Aquadex SmartFlow System at the KidneyBee Summit 2026, taking place July 14-16 at Children's Hospital Colorado in Aurora, Colorado. The Aquadex SmartFlow System enables controlled, predictable fluid removal and is seeing increasing adoption at leading pediatric centers across the United States.

NUWE closed Tuesday's trading at $3.22, up 15%.

AtaiBeckley Inc. (ATAI), a clinical-stage biotechnology company developing rapid-acting, durable and convenient mental health treatments, was up 14% on Tuesday.

The company's pipeline includes BPL-003 (mebufotenin benzoate nasal spray) for treatment-resistant depression; VLS-01 (DMT buccal film) for treatment-resistant depression, and EMP-01 for social anxiety disorder.

BPL-003 is in Phase 3 clinical development while VLS-01 and EMP-01 are in Phase 2 clinical development.

The company expects to report topline data from the Phase 2b trial of VLS-01 in adults living with treatment-resistant depression in Q4, 2026.

ATAI closed Tuesday's trading at $5.67, up 14.08%.

Quince Therapeutics Inc. (QNCX) has a couple of clinical trial events lined up for the coming months.

The company is currently developing LAM-001 for the treatment of pulmonary hypertension associated with interstitial lung disease (PH-ILD), bronchiolitis obliterans syndrome (BOS), and sarcoidosis associated pulmonary hypertension (SAPH).

In a Phase 2a study evaluating LAM-001 in patients with pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD), clinically meaningful improvement in multiple assessments of lung function was observed. A Phase 2b study in PH-ILD is anticipated to begin in mid-2026.

A Phase 2 clinical study of LAM-001 in bronchiolitis obliterans syndrome is ongoing, with data expected in 1Q 2027.

The company is planning to initiate a Phase 2 trial of LAM-001 in sarcoidosis associated pulmonary hypertension this year.

QNCX closed Tuesday's trading at $19.29, up 11.83%.

Outlook Therapeutics Inc. (OTLK) jumped more than 11% on Tuesday, as the company nears the FDA decision date on ONS-5010/LYTENAVA for the treatment of neovascular age-related macular degeneration (nAMD), or wet AMD.

The regulatory agency is expected to announce its decision on July 29, 2026. This marks the company's fourth attempt to obtain FDA approval for ONS-5010/LYTENAVA, following complete response letters issued by the agency in August 2023, August 2025, and December 2025.

OTLK closed Tuesday's trading at $1.73, up 11.61%.

Researchers from Rice University, Texas A&M University, and the University of Texas have developed a promising cancer-fighting technique that uses light-activated molecules, nicknamed "molecular jackhammers," to destroy cancer cells. These aminocyanine molecules - fluorescent synthetic dyes commonly used in medical imaging - vibrate intensely when exposed to near-infrared light, rupturing cancer cell membranes. In laboratory tests, the technique eliminated 99% of human melanoma cells, and half of the mice treated for melanoma became cancer-free. (Source: Rice University)

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