Shares of Durect Corp. DRRX, +1.94% gained 34.3% in premarket trading on Tuesday after the company said its drug, Posimer, had been approved by the Food and Drug Administration as a treatment for pain after a certain type of shoulder surgery. The drug is not an opioid. The company said that more than 600,000 arthroscopic subacromial decompression surgeries are performed in the U.S. each year. Durect’s stock is up 9.4% over the past year, while the S&P 500 SPX, +1.61% has gained 17.0%.
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