Shares of Conexeu Sciences rose after the medical device and regenerative medicine company reported progress for its CXU tissue restoration platform.

The stock was up 11% to $3.45 in Tuesday afternoon trading. Shares have traded in range of $3.05 to $18.79 since their debut on Nasdaq via a direct listing.

The company said it has advanced manufacturing scale-up, regulatory testing and preclinical work supporting a planned 510(k) submission to the Food and Drug Administration in the first quarter of 2027.

Multiple scaled-up batches of CXU material met company specifications for key material characteristics and product performance measures, the company said.

CXU is a collagen-based extracellular matrix platform.