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+3.92%
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11 Nov 2025$SRDX surged nearly 50% after a court denied an injunction attempting to block its sale to private equity firm GTCR. The stock climbed to $40.94 on volume more than 26 times the typical daily average, signaling strong institutional interest as the deal moves forward. This favorable ruling removes a significant legal obstacle and provides shareholders with a clear path to realizing the acquisition premium, with the unusual volume spike suggesting traders are positioning for a smooth transaction close.
$ENGN releasing preliminary data from the LEGEND pivotal cohort studying patients with high-risk BCG-unresponsive non-muscle invasive bladder cancer. Trading volume exploded to over 51 million shares compared to its 320,000 share daily average, representing a staggering 159-fold increase that demonstrates robust enthusiasm for the clinical results. Shares reached $8.82 as investors digested the implications for this difficult-to-treat patient population, pricing in increased probability of regulatory success and potential commercial opportunity.
$QNRX Quoin Pharmaceuticals announced its topical delivery platforms achieved target rapamycin loadings of 4% w/w in manufacturing. The stock jumped to $11.51 on volume exceeding 18 million shares, roughly 31 times normal activity, as this manufacturing milestone removes a key development risk. The market reaction indicates traders view this as de-risking the development pathway, particularly since achieving stable drug loading in topical formulations presents significant technical challenges.
$CHGG Chegg reported breakeven third-quarter results despite revenues declining year-over-year, with investors apparently relieved the educational technology platform is stabilizing after a prolonged downturn. Volume of 6.08 million shares came in nearly double the typical level, suggesting both covering of short positions and renewed buying interest from turnaround believers. The key question facing traders is whether management's cost-cutting measures can restore profitability even as the core business faces structural headwinds from AI-powered alternatives.
$OM collapsed 48% after Outset Medical delivered disappointing third-quarter results and slashed its full-year guidance, sending shares plummeting to $6.22 on volume 16 times the normal pace. Despite BTIG maintaining its Buy rating with a price target suggesting over 100% upside, the market clearly disagreed in the immediate aftermath. The severity of the selloff suggests deep concerns about execution challenges and demand trends in the dialysis equipment business, with the guidance cut particularly troubling for those expecting recovery.
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