After-Hours Biotech Gainers: TNON, BIVI, EDSA, RNAZ, HCWB

Today's after-hours gainers include Tenon Medical, which recently reported its second-quarter results and implemented a reverse stock split; BioVie, which is developing a drug for early-stage Parkinson's disease; and Edesa Biotech, which is advancing EB06, a potential treatment for moderate-to-severe vitiligo, among others.

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Shares of Tenon Medical Inc. (TNON), a medical device company, were up nearly 80% in after-hours trading on Tuesday on no specific news.

The company reported financial results for the second quarter ended June 30, 2026, last week.

Revenue was $1.3 million in the second quarter of 2026, an increase of 127% compared to $0.6 million in the same period of 2025. Net loss was $4.1 million, or $12.35 per share, in the second quarter of 2026, compared to a net loss of $2.8 million, or $12.76 per share, in the second quarter of 2025.

The company implemented a 1-for-35 reverse stock split of its common stock on August 10, 2026, to regain compliance with Nasdaq listing requirements, including the minimum bid price rule.

TNON closed Tuesday's trading at $5.45, up 10.77%. In after-hours trading, the stock was up 82.02% at $9.87.

BioVie Inc. (BIVI), a clinical-stage company developing innovative therapies for neurological and neurodegenerative diseases, was among the top gainers in after-hours trading on Tuesday.

Earlier in the month, the company announced results from its Phase 2 SUNRISE-PD trial evaluating its drug candidate Bezisterim in early-stage Parkinson's disease (PD).

According to the company, the trial successfully met prespecified endpoints and achieved its objectives, with topline results showing that Bezisterim improved blood-based inflammatory markers of disease, along with a broad range of biological markers associated with overall cellular health and nerve cell damage.

Shares, which touched a 52-week high of $3.79 during intraday trading on August 12, 2026, have since given back most of their gains, closing today's session at $0.96, down 17.57%. In after-hours trading, the stock jumped 55% to $1.50.

Edesa Biotech Inc. (EDSA), a clinical-stage biopharma company focused on host-directed therapeutics for immuno-inflammatory diseases, was up nearly 7% in after-hours trading on Wednesday.

Last week, the company said it had finished preparing for its Phase 2 trial of EB06, a potential treatment for moderate-to-severe vitiligo. It has started opening the first trial sites and expects to begin enrolling patients in Canada in the coming weeks, with other countries to follow pending regulatory approval.

EDSA closed Tuesday's trading at $5.71, up 1.06%. In after-hours, the stock was up another 6.59% at $6.09.

TransCode Therapeutics Inc. (RNAZ) was up nearly 6% in after-hours trading today on no specific news.

The company's lead therapeutic candidate, TTX MC138, is under a Phase 2a trial in patients with circulating tumor DNA (ctDNA) positive colorectal cancer following curative intent therapy. The trial began in May 2026 and is expected to enroll up to 45 patients.

TransCode expects to provide an enrollment update this quarter, with preliminary results expected in the fourth quarter of 2026.

RNAZ closed Tuesday's trading at $3.24, up 2.53%. In after-hours, the stock was up 5.98% at $3.43.

HCW Biologics Inc. (HCWB), a clinical-stage biopharmaceutical company developing new immunotherapies to treat autoimmune diseases, cancer and other diseases linked to chronic inflammation, was up over 10% in after-hours trading on Tuesday.

The company announced promising preliminary human data from the first two cohorts of its dose-escalating Phase 1 clinical study evaluating HCW9302 as a monotherapy in patients with alopecia areata in June. A full Phase 1 clinical data readout from the trial is anticipated in the fourth quarter of 2026.

HCW Biologics has also requested a Type B pre-IND meeting with the FDA to discuss the development and regulatory strategy for HCW11-018b, a tetravalent T-cell engager being developed for cancer. The company expects the clinical trial to begin in the first half of 2027, subject to FDA authorization.

HCWB closed Tuesday's trading at $2.13, down 15.48%. In after-hours, the stock was up 10.33% at $2.35.

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