Surmodics jumps after US judge rejects FTC's bid to block acquisition by GTCR

** Shares of medical device coatings maker Surmodics (SRDX.O) jump 50% to $40.87

** Private equity firm GTCR can move forward with its acquisition of Surmodics, a federal judge in Chicago ruled late on Monday, rejecting the U.S. Federal Trade Commission's bid to block the deal

** The FTC effort to stop the deal in March was its first lawsuit to block a merger during President Donald Trump's second term

** FTC argued the deal eliminates competition between Surmodics and GTCR portfolio company Biocoat in the market for suppliers of hydrophilic coatings used to smooth surgical equipment and internal medical devices such as catheters

** The companies defended the deal, saying any concerns would be alleviated by a partial divestiture of Biocoat assets to Integer ITGR, a contract medical device manufacturer

** Including session moves, stock up 3.8% YTD