AbCellera shares surged on Monday after its menopause drug candidate delivered compelling results in an early-stage trial.

The biotechnology company on Monday reported that its experimental menopause treatment, ABCL635, had reached the primary efficacy endpoints in an early-stage study.

In a Phase 2 trial, researchers determined that a single dose of ABCL635 significantly reduced both how often patients experienced hot flashes and how severe they were by the fourth week of treatment compared to a placebo. Patients taking the drug also reported better quality of sleep and an overall improvement in how they felt, AbCellera said.

Shares of the biotech jumped 32% to $9.12 on Monday. Heading into Monday's session, AbCellera stock had more than doubled in 2026, driven largely by anticipation for the Phase 2 data readout.