On August 3, Abbott Laboratories rose 3.21% in regular trading, trading at $108.07/share, with turnover of $95.64 million. The stock continued to gain momentum following the FDA's recent approval of SimpleScreen CRC, a blood-based colorectal cancer screening test co-developed with Freenome.

The FDA formally approved the SimpleScreen CRC test, which targets adults aged 45 and older at average risk for colorectal cancer. Under the commercial agreement between the two companies, Abbott will exclusively commercialize the test in the United States beginning this fall. As part of the arrangement, Abbott will pay Freenome a $100 million milestone payment tied to the FDA approval. The non-invasive screening test represents a significant advancement in colorectal cancer detection and deepens the strategic collaboration between the two companies in the precision medicine market.

Within the Health Care Equipment sector where Abbott Laboratories belongs, the overall sector showed broad strength. Among individual stocks, Intuitive Surgical up 6.04%, Boston Scientific up 4.45%, DexCom up 4.03%, Integer up 2.73%, Stryker up 2.34%.

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