Adlai Nortye Ltd. is exploding higher as investors react to a wave of positive momentum across the biotechnology sector. The broader industry is seeing increased activity following recent FDA accelerated approvals for oncology treatments, such as the combination therapy for advanced cutaneous melanoma. While there is no company-specific news for Adlai Nortye, the stock is benefiting from a favorable environment for clinical-stage firms as the global drug delivery devices market is projected to grow to USD 698.2 billion by 2031.