$OmniAb(OABI.US) surged over 10%, with volume hitting 28x the 20-day average, driven by a $370mn R&D collaboration with Eli Lilly—antibody discovery platforms inherently monetize via such milestone payments. The Nasdaq Biotechnology Index also hit an all-time high, representing a strong tailwind.$SMOORE INTL(06969.HK) rose 8% on a different narrative: interim results are imminent, with Q1 profit up >36% YoY to RMB 260mn. Additionally, institutional sentiment is buoyed by its potential inclusion following Hang Seng Tech Index methodology reforms. One validates cash flow; the other combines earnings expectations with passive fund inflows—both are tangible catalysts.