NEW YORK (TheStreet) -- Shares of VirnetX (VHC) were surging 39.54% to $4.27 on heavy trading volume late Monday morning after the company was awarded $302.4 million in a verdict against Apple (AAPL) in a patent infringement case.

"We are extremely pleased with the jury verdict announced today," VirnetX CEO and President Kendall Larsen said in a statement, "This is the third time a jury has confirmed that Apple has been using the technology developed by our inventors."

The Zephyr Cove, NV-based Internet security software and tech company currently has two pending patent infringement lawsuits against Apple.

More than 6 million of VirnetX's shares changed hands so far today vs. its average 30-day volume of 619,200 shares per day.