DURECT - DRRX STOCK NEWS

DURECT Corporation (NASDAQ: DRRX) announced the acceptance of additional data from its Phase 2a trial evaluating larsucosterol for alcohol-associated hepatitis (AH), which will be published in the American Journal of Gastroenterology. The trial demonstrated a 100% survival rate among 19 patients during a 28-day follow-up, significantly better than the historical mortality rate of 26% in similar patients. The drug was well-tolerated across three doses and showed rapid improvements in liver biomarkers. Furthermore, the company is on track to report data from its ongoing Phase 2b AHFIRM trial in the second half of 2023, targeting 300 patients for further validation of larsucosterol's efficacy. With FDA Fast Track Designation, the company aims to expedite the drug's development to address an urgent medical need, as no FDA-approved therapies currently exist for AH.

DURECT Corporation (NASDAQ: DRRX) announced the appointment of Gail Maderis as the new Chair of the Board, effective March 17, 2023. She takes over from David Hoffmann, who will retire on June 21, 2023. Maderis has been a board member since January 2021, contributing to audit and compensation committees. The leadership change comes at a pivotal time for DURECT as it anticipates top-line data from its AHFIRM trial later this year. Maderis brings extensive biopharmaceutical experience, having previously led various organizations and currently serving as President and CEO of Antiva Biosciences.

DURECT Corporation (Nasdaq: DRRX) announced that CEO Dr. James Brown and management will participate in a fireside chat at the Oppenheimer 33rd Annual Healthcare Conference on March 15, 2023. The discussion will be accessible from 2:00 to 2:20 PM Eastern Time and will cover DURECT's innovative therapies, including larsucosterol and POSIMIR. Larsucosterol is in clinical development for alcohol-associated hepatitis, with FDA Fast Track Designation. A webcast link for the presentation will be available on DURECT's website, with a replay available for 90 days. The press release includes forward-looking statements regarding future trials and commercialization efforts.

DURECT Corporation (Nasdaq: DRRX) reported financial results for Q4 and FY 2022, with total revenues of $3.3 million for Q4, down from $7.3 million a year prior. The net loss increased to $10.5 million compared to $7.0 million in Q4 2021. For the full year, revenues were $19.3 million with a net loss of $35.3 million. Cash holdings decreased to $43.6 million from $70.0 million year-over-year. The company is on track to complete enrollment in the AHFIRM trial in Q2 2023, with topline data expected in the latter half of the year, which may allow for potential FDA discussions regarding a New Drug Application (NDA) for Larsucosterol.

DURECT Corporation (NASDAQ: DRRX) has announced it will report its fourth quarter and full year 2022 financial results on March 7, 2023, after market closure. The company is set to host a conference call at 4:30 PM ET to discuss the results. DURECT is known for its advancements in treatment for acute organ injury and chronic liver diseases, particularly its lead drug candidate Larsucosterol (DUR-928), currently in clinical development for alcohol-associated hepatitis with FDA Fast Track Designation. The company also holds an FDA-approved product, POSIMIR, licensed to Innocoll Pharmaceuticals.

DURECT Corporation (NASDAQ: DRRX) announced a registered direct offering of common stock and warrants, aiming to raise approximately $10 million. The offering includes 1,700,000 shares of common stock and pre-funded warrants for 300,000 shares, priced at $5.00 and $4.99999 respectively. Accompanying warrants will allow the purchase of up to 2,000,000 shares at $5.00 each, with pre-funded warrants having no expiration. The proceeds will be used for general corporate purposes, including clinical trials and research. Closing is expected on February 8, 2023, pending customary conditions.

DURECT Corporation (Nasdaq: DRRX) announced a 1-for-10 reverse stock split effective December 5, 2022, aimed at meeting Nasdaq's minimum bid price requirement of $1.00. The decision follows stockholder approval during a Special Meeting held on November 22, 2022. Post-split, approximately 22.8 million shares will be outstanding, and the authorized shares will decrease from 600 million to 150 million. This reverse split is expected to attract more institutional investors while maintaining existing ownership percentages for shareholders.

DURECT Corporation (Nasdaq: DRRX) reported Q3 2022 revenues of $12.0 million with a net loss of $2.5 million, an improvement from $2.2 million in revenues and a net loss of $10 million during the same period in 2021. The company is optimistic about completing its AHFIRM trial enrollment by Q2 2023, ahead of schedule, as they have surpassed 200 patients enrolled. DURECT received $10 million in milestone payments related to the launch of POSIMIR by Innocoll and a new patent extending coverage until 2041.

DURECT Corporation (Nasdaq: DRRX) will report its third quarter 2022 financial results on November 2, 2022, at 4:30 PM ET, followed by a conference call. The company is focused on innovative therapies for acute organ injury and chronic liver diseases, with its lead candidate, larsucosterol (DUR-928), in development for conditions like alcohol-associated hepatitis, which has FDA Fast Track Designation. POSIMIR®, an FDA-approved non-opioid analgesic, is licensed to Innocoll Pharmaceuticals. Investors can access the conference details via a webcast.