Surmodics, Inc. (SRDX) is soaring 49.94 percent to $41.00 on Tuesday, likely boosted by yesterday's news that a federal court denied the FTC's request to block the company's pending acquisition by GTCR.
Regulators' attempts to obtain a preliminary injunction were denied by the U.S. District Court for the Northern District of Illinois, thereby permitting Surmodics and GTCR to proceed with their proposed merger.
After closing at $27.34 in the previous session, SRDX is currently trading at $41.00 on the New York Stock Exchange. Since opening at $41.05, the stock has fluctuated between $40.64 and $41.20. The volume has increased to 1.47 million shares, which is more than the average of 175,154.
The stock is currently trading at the top of its 52-week range, which is $25.87 to $41.20.
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