AbCellera shares jumped after the company shared positive results for its investigational menopause treatment, an important milestone as more companies look to develop menopause products.

The stock climbed 38% to $9.58 Monday morning. Shares have nearly tripled over the past year.

The Canadian biotech company is developing ABCL635 as a non-hormonal, long-acting treatment for moderate-to-severe vasomotor symptoms, which are more commonly known as hot flashes.

A Phase 2 trial testing ABCL635 met its primary efficacy endpoints by achieving statistically significant reduction in both frequency and severity of vasomotor symptoms compared with a placebo.

More companies have been investing in developing drugs to relieve menopause symptoms, with a particular focus on non-hormonal products. The telehealth platform Hims & Hers Health launched a menopause care business in October 2025.

Hims & Hers, which has been a leader in hormonal therapies, offers an array of pills, patches and creams for menopause and perimenopause. It estimates the new segment will help its women-focused Hers business surpass $1 billion in annual revenue this year.

Sales of estrogen patches, which are used for hot flashes and other menopause symptoms, have jumped in recent years. More than 142 million units of estradiol patches were sold in 2025, up from 46.5 million units five years prior, according to data from healthcare research company IQVIA.

The surge comes after the Food and Drug Administration in 2025 walked back a black-box warning requirement on hormone-replacement therapies, which it had implemented after a 2002 study flagged health risks.

In recent years, menopause has become a hot topic among celebrities and other public figures. They advocate healthcare that will address the effects of hormonal changes, which can also include bone-density loss and mood swings.