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Universe Pharma Soars Over 300% on Patent Portfolio Acquisition
Universe Pharmaceuticals led biotech gainers Monday, soaring more than 300% after announcing a strategic acquisition to expand its pharmaceutical patent portfolio. The company agreed to acquire 100% of Best Praise International Limited, which holds five Chinese patents covering elderly healthcare, cognitive health, cardiovascular applications, antibacterial compounds, and drug delivery technologies, for US$10.75 million payable in 4,376,552 Class A ordinary shares. The deal is expected to close in the third quarter of 2026, and UPC closed at $12.18, up 311.49%. Other notable movers included Decoy Therapeutics, which jumped over 70% on a private placement financing of up to $21 million, and QuidelOrtho, up over 30% on reports it is exploring the sale of its point-of-care testing business for approximately $1.5 billion. SELLAS Life Sciences gained more than 24% as its Phase 3 REGAL trial of GPS in acute myeloid leukemia nears its final analysis, with 78 of the required 80 events reported as of May 11, 2026.