Thermo Fisher's 0.82% Gain on 66th-Ranked $1.2B Volume Driven by FDA-Approved Cancer Diagnostic Expansion

Thermo Fisher Scientific (TMO) rose 0.82% on August 15, 2025, with a trading volume of $1.2 billion, ranking 66th in market activity. The stock’s performance was driven by regulatory progress in its oncology diagnostics division.

The U.S. Food and Drug Administration (FDA) approved the Oncomine Dx Target Test as a companion diagnostic for Boehringer Ingelheim’s HERNEXEOS, a targeted therapy for non-small cell lung cancer (NSCLC). This marks the first FDA-approved oral treatment for patients with HER2/ERBB2 mutations in this subset of lung cancer. The test identifies activating mutations in HER2/ERBB2 tyrosine kinase domains, enabling faster treatment decisions and reducing the need for additional biopsies. Medicare and top U.S. commercial insurers fully reimburse the test.

Oncomine Dx Target Test has secured regulatory approvals in 20 countries for 11 biomarkers and over 20 therapies. It is reimbursed across the U.S., Europe, Japan, South Korea, and Israel, covering more than 550 million individuals. The test is already approved for use in NSCLC, cholangiocarcinoma, and other cancers in the U.S.

With lung cancer representing 85-90% of all lung cancer cases in the U.S. and 2-4% of NSCLC patients carrying HER2 mutations, the market for NSCLC treatments is projected to grow to $66.04 billion by 2032 at a 10.3% CAGR. Thermo’s expansion in companion diagnostics aligns with this trend, enhancing its position in precision oncology.

Thermo also received FDA approval for the Oncomine Dx Express Test on the Ion Torrent Genexus Dx platform as a companion diagnostic for Dizal’s ZEGFROVY. This expands its diagnostic offerings for tumor profiling and targeted therapy matching.

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