Biotech Movers: Modular Medical Jumps, InnovAge Revenue Up 16%, Pyxis Data On Deck, Dogwood In Focus

(RTTNews) – With heightened trade tensions between the U.S. and Canada and rising oil prices weighing on investor sentiment, U.S. stocks came under pressure on Tuesday. Against this backdrop, the SPDR S&P Biotech ETF (XBI), a broad benchmark for the U.S. biotechnology sector, declined 1.15% during regular trading hours but edged 0.09% higher in overnight trading.

Now, let’s take a look at some of the biotech and pharmaceutical companies that gained in overnight trading on Tuesday.

Modular Medical Inc. (MODD), a medical device company, which plunged more than 23% during regular trading on Tuesday, was up over 13% in overnight trading.

The company plans to launch its next-generation Pivot tubeless patch pump in five U.S. markets – Atlanta, Cincinnati/Lexington, Dallas, Houston, and Philadelphia – beginning in October 2026. The Pivot tubeless patch pump is designed to make insulin delivery easier, more flexible, and more accessible for people who require intensive insulin therapy.

Modular Medical is scheduled to participate in the iAccess Alpha Virtual Best Ideas Fall Investment Conference 2026 on September 15-16, 2026.

MODD closed Tuesday’s trading at $2.82, down 23.37%. In overnight trading, the stock was up 13.48% at $3.20.

Jin Medical International Ltd. (ZJYL), a provider of rehabilitation medical equipment in China, was up over 20% in overnight trading on Tuesday, on no specific news.

The financial results for the six months ended March 31, 2026, were announced last month.

Net loss was $0.2 million for the six-month period of 2026, compared with net income of $0.01 million in the corresponding period of the prior year. Total revenue declined 9.7% year-over-year to $8.9 million, compared with $9.9 million for the same period last year.

ZJYL closed Tuesday’s trading at $2.02, down 2.88%. In overnight trading, the stock was up 20.79% at $2.44.

Shares of InnovAge Holding Corp. (INNV) rose about 9% in overnight trading after the release of financial results for the fourth quarter and full year ended June 30, 2026.

The company provides comprehensive healthcare programs to frail, predominantly dual-eligible seniors through the Program of All-inclusive Care for the Elderly (PACE).

For the fiscal year ended June 30, 2026, total revenue increased approximately 15.9% year-over-year to $989.7 million, compared with $853.7 million in fiscal 2025. Net loss attributable to InnovAge Holding narrowed significantly to $2.5 million, or $0.02 per share, compared with a net loss of $30.3 million, or $0.22 per share, in fiscal 2025.

Looking ahead to fiscal 2027, the company expects total revenue to be in the range of $1.05 billion to $1.085 billion.

INNV closed Tuesday’s trading at $10.52, down 2.14%. In overnight trading, the stock was up 9.51% at $11.52.

Pyxis Oncology (PYXS) is set to deliver a key clinical update, with investors watching closely for new data that could shed further light on the potential of its lead oncology candidate, Micvotabart pelidotin (MICVO).

The clinical-stage biotech is scheduled to host a live webcast at 7:30 a.m. ET on September 9, 2026, to present updated data from its ongoing Phase 1 monotherapy study of MICVO in patients with second-line and beyond (2L+) recurrent/metastatic head and neck squamous cell carcinoma (R/M HNSCC) – a difficult-to-treat cancer with significant unmet medical needs.

PYXS closed Tuesday’s trading at $3.89. In overnight trading, the stock was up over 5% to $4.11.

Pulse Biosciences Inc. (PLSE), a novel bioelectric medicine company, was down more than 2% in overnight trading.

The financial results for the second quarter ended June 30, 2026, were reported last month.

Non-GAAP net loss for the quarter was $19.4 million, compared with $13.7 million in the corresponding period of 2025. Total revenue was $0.4 million for Q2, 2026, as the company remains in a controlled commercial launch.

Pulse Biosciences began generating product revenue in the third quarter of 2025, following the first commercial sale of its Vybrance Percutaneous Electrode System.

A prospective, multicenter IDE (Investigational Device Exemption) pivotal clinical investigation, dubbed NANOPULSE-AF, is evaluating the nPulse Cardiac Catheter System for the treatment of recurrent, drug-resistant, symptomatic paroxysmal atrial fibrillation (AF). The study has surpassed the halfway point of enrollment, with more than 82 evaluable patients enrolled, and the company expects to complete enrollment in early Q4 2026, approximately three months ahead of its original timeline.

Meanwhile, NANOCLAMP-AF, a single-arm, prospective, multicenter study designed to evaluate the safety and effectiveness of the nPulse Cardiac Surgical System for the treatment of AF during concomitant cardiac surgical procedures, is underway. Enrollment in this study is expected to be completed by the end of the first half of 2027.

On the regulatory front, Pulse Biosciences is targeting a CE Mark submission in the second half of 2026 for its nPulse Cardiac Catheter System, which uses its nanosecond pulsed field ablation (nsPFA) technology to treat atrial fibrillation. Separately, Pulse is also targeting a CE Mark filing before the end of 2026 for its nPulse Cardiac Surgical System, the surgical ablation clamp used for concomitant AF treatment during cardiac surgery.

PLSE closed Tuesday’s trading at $48.79, down 8.36%. In overnight trading, the stock lost another 2.48% and was at $47.58.

Dermata Therapeutics Inc. (DRMA), a company focused on developing and commercializing direct-to-consumer skincare solutions, gained more than 7% in overnight trading on Tuesday despite no company-specific news.

As recently as August 25, 2026, the company announced the official commercial launch of Tome Foundational Treatment, the first product available for purchase under its Tome skincare brand. The once-weekly treatment is designed to renew the appearance of skin while improving skin tone and texture over time.

The commercial launch marks an important milestone for Dermata. Management said the launch is expected to enable Dermata to begin generating revenue while continuing to build long-term value for shareholders.

DRMA closed Tuesday’s trading at $1.25, up 3.31%. In overnight trading, the stock was up 7.20% at $1.34.

Dogwood Therapeutics (DWTX), a development-stage biopharmaceutical company focused on developing first-in-class, non-opioid medicines to treat pain and neuropathic disorders, gained more than 7% in after-hours trading on Tuesday.

The company’s lead product candidate is Halneuron, which is in Phase 2b development to treat pain conditions, including the neuropathic pain associated with chemotherapy treatment. The trial has currently enrolled 217 patients, and top-line results readout is expected in the fall of 2026.

DWTX closed Tuesday’s trading at $2.04, down 11.69%. In after-hours, the stock was up 7.33% at $2.18.