On October 7, AbbVie rose 3.06% in regular trading, trading at $274.68 per share with turnover of $480 million. The move came after the US FDA granted two Breakthrough Therapy Designations for its investigational drug telisotuzumab adizutecan, covering colorectal cancer and non-small cell lung cancer indications. The colorectal designation covers a combination with bevacizumab for refractory, metastatic patients who have received multiple prior therapies, while the lung cancer designation is as monotherapy for locally advanced or metastatic EGFR wild-type, c-Met-expressing non-squamous disease after platinum-based chemotherapy and an anti-EGFR therapy. Separately, Morgan Stanley raised its AbbVie price target to $310 from $296, and Scotiabank lifted its target to $320 from $280, reflecting stronger analyst confidence. The stock rallied despite AbbVie's updated guidance reflecting $216 million in acquired IPR&D and milestone expenses, which lowered third-quarter adjusted EPS expectations to $3.73-$3.77.

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