DURECT Corp (DRRX) Tops Q2 EPS by 1c

DURECT Corp (NASDAQ: DRRX) reported Q2 EPS of ($0.05), $0.01 better than the analyst estimate of ($0.06). Revenue for the quarter came in at $4.4 million versus the consensus estimate of $5.01 million.

"The second quarter marked significant progress on multiple fronts," stated James E. Brown, D.V.M., President and CEO of DURECT. "We are excited to have received feedback from the FDA on the outline of the new POSIDUR™ Phase 3 clinical trial which is intended to provide the data necessary for a robust NDA resubmission. For DUR-928, we completed a positive Phase 1 multiple-ascending-dose study with our oral formulation program, are preparing to start Phase 1 studies with our injectable formulation program and today we are reporting positive data from an animal stroke model. Regarding REMOXY®, Pain Therapeutics has stated that they have substantially completed the transition of REMOXY from Pfizer and that they expect to resubmit the REMOXY NDA in the first quarter of 2016. Also, our sublicensee, Orient Pharma, has initiated their ORADUR-ADHD Phase 3 study in Taiwan."

For earnings history and earnings-related data on DURECT Corp (DRRX) click here.

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