After-Hours Trading Sees Sharp Gains Across Emerging Growth Names

(RTTNews) - Several small-cap names extended their momentum into after-hours trading on Thursday, posting sharp gains following active regular sessions. Recent strategic updates, leadership moves, and pipeline developments appear to be driving renewed attention across these stocks, with key milestones still ahead.

Adaptimmune Therapeutics plc (ADAP) surged in after-hours trading, jumping 30% to $0.2020 from its regular session close of $0.16. This dramatic overnight move follows a nearly 98% gain during Thursday's trading session, where the stock closed at $0.16 after opening at just $0.08. ADAP's volume also spiked, with over 705 million shares traded, well above its average daily volume of 60 million.

The rally appears to be driven by renewed investor interest, although no company-specific news was released on September 19. For the second quarter ended June 30, 2025, Adaptimmune reported a net loss of $30.3 million, or a loss of $0.02 per ordinary share. Total revenue for the quarter was $13.7 million, driven primarily by product sales of TECELRA, which generated $11.1 million from 16 patients invoiced, representing over 150% growth compared to the first quarter.

In a major strategic development, the company, in August, announced the sale of TECELRA, lete-cel, afami-cel, and uza-cel cell therapies to US WorldMeds for $55 million upfront with up to $30 million in future milestone payments. Following the transaction, Adaptimmune has repaid its debt and is restructuring to maximize value from remaining assets, including PRAME and CD70 directed T-cell therapies.

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Butterfly Network Inc. (BFLY) extended its rally into after-hours trading, climbing 10.58% to $2.09 following a strong regular session performance where the stock closed at $1.89, up 15.95% from the previous close. The surge comes amid heightened investor interest and volume, with over 12 million shares traded, triple its average daily volume.

The momentum appears to be fueled by recent recognition and strategic developments. On September 18, Butterfly Network was named to TIME's list of the World's Top HealthTech Companies for 2025, highlighting its innovation in AI-powered ultrasound imaging. Earlier this month, the company appointed Victor Ku as Chief Technology Officer, signaling a renewed focus on advancing its technology stack. Additionally, a recent study published in JAMA confirmed that Butterfly-enabled point-of-care ultrasound (POCUS) programs significantly reduce hospital stay and costs, further validating its clinical impact.

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Aquestive Therapeutics Inc. (AQST) continued its upward momentum in after-hours trading, rising 7.69% to $5.32 following a solid regular session gain of 2.28%, where it closed at $4.94. The stock has been steadily climbing, now up nearly 39% year-to-date, and trading near the upper end of its 52-week range of $2.12 to $5.80.

While no fresh headlines were released on September 19, recent developments have kept investor sentiment bullish. Earlier this month, the FDA confirmed it will not require an advisory committee meeting to review Aquestive's NDA for Anaphylm, its sublingual epinephrine film for treating severe allergic reactions. This decision streamlines the regulatory path and significantly derisks the approval process, with a PDUFA date set for January 2026. Additionally, Aquestive recently secured a $75 million strategic funding agreement to support the potential launch of Anaphylm, further reinforcing its commercial readiness.

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ALX Oncology Holdings Inc. (ALXO) extended its gains in after-hours trading, rising 9.17% to $1.19 following a 3.81% increase during Thursday's regular session, where it closed at $1.09. The latest catalyst appears to be insider buying activity.

On September 17, CEO Jason Lettmann purchased 92,233 shares of ALXO, bringing his total holdings to over 305,000 shares. This move signals confidence from leadership and has caught the attention of investors tracking insider trends. While no new clinical data were released this week, the company's lead candidate, Evorpacept, remains in multiple Phase 1 and Phase 2 trials across gastric, urothelial, head and neck, and breast cancers, in collaboration with major partners like Jazz Pharmaceuticals, MD Anderson Cancer Center, and Sanofi.

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Ekso Bionics Holdings Inc. (EKSO) continued its upward momentum in after-hours trading, rising 5.37% to $4.51 after closing Thursday's regular session at $4.28, a gain of 9.74%. This marks a notable move for the company, which is currently trading near the midpoint of its 52-week range of $2.73 to $19.05.

There were no new announcements on September 19, but recent developments may be contributing to the stock's strength. Ekso's inclusion in the NVIDIA Connect Program earlier this year has helped spotlight its efforts to integrate AI into its wearable exoskeleton technologies. The company also launched Virtual eksoUniversity, a platform designed to support continuing education for physical therapists and assistants, which could help broaden adoption of its rehabilitation devices.

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CEL-SCI Corp. (CVM) rose 5.27% in after-hours trading on Thursday, reaching $9.39 after closing the regular session at $8.92, up 1.02% for the day. While there were no new announcements on September 19, recent developments continue to shape the company's outlook.

CEL-SCI recently completed a $10 million public offering to support its ongoing clinical and regulatory efforts. Last month, the company filed for Breakthrough Medicine Designation in Saudi Arabia for its lead candidate, Multikine, aimed at treating head and neck cancer. If granted, the designation could allow for patient access and reimbursement within approximately 60 days. Additionally, CEO Geert Kersten increased his stake by 66.91% through a purchase of 29,197 shares at an average price of $6.85.

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