Thermo Fisher's Stock Climbs 0.36% on FDA Diagnostic Approval Surges to 119th in Activity with $790M Volume

Thermo Fisher Scientific (TMO) closed 0.36% higher on August 11, 2025, with a trading volume of $0.79 billion, ranking 119th in market activity. The stock’s performance coincided with regulatory news impacting its diagnostics division.

The company received FDA approval for its Oncomine Dx Target Test as a companion diagnostic for HERNEXEOS, a targeted therapy for HER2-mutant non-small cell lung cancer. The test, now reimbursed in multiple regions, enables clinicians to identify eligible patients for the treatment, expanding Thermo’s role in precision oncology. This approval follows recent regulatory milestones, including a rapid NGS solution capable of delivering results in 24 hours, reinforcing the company’s diagnostic leadership.

Analysts highlighted the strategic value of the approval, as it aligns with growing demand for biomarker-driven therapies in oncology. The test’s reimbursement coverage across 550 million lives globally and its application in multiple cancer types position Thermo to benefit from increased adoption. However, market observers noted that broader industry trends, such as rising allergy diagnostic demand, may offer additional long-term growth catalysts.

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