India, July 29 -- DURECT Corp. (DRRX) shares soared 254.62 percent to $1.96 on Tuesday after announcing it will be acquired by Bausch Health Companies (BHC). The deal includes DURECT's lead asset, larsucosterol, a novel epigenetic modulator showing promise for treating alcoholic hepatitis, a life-threatening liver disease with no currently approved therapies.
The stock opened at $2.00 and traded between $1.93 and $2.64, with volume exploding to 41.76 million shares, far above its average of just over 100,000 on the Nasdaq. DURECT shares, which previously closed at $0.55, now sit near their 52-week high of $2.64.
The acquisition highlights growing investor confidence in larsucosterol's commercial potential and the strategic fit with Bausch...