DURECT Corp (DRRX) Reports In-Line Q1 EPS

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DURECT Corporation Announces First Quarter 2016 Financial Results and Update of Programs

May 5, 2016 4:05 PM EDT

CUPERTINO, Calif., May 5, 2016 /PRNewswire/ -- DURECT Corporation (Nasdaq: DRRX) announced today financial results for the first quarter of 2016.  Total revenues were $3.6 million and net loss was $7.9 million for the three months ended March 31, 2016 as compared to total revenues of $4.8 million and net loss of $4.9 million for the three months ended March 31, 2015.    

At March 31, 2016, we had cash and investments of $24.3 million, compared to cash and investments of $29.3 million at December 31, 2015.  Subsequent to the end of the first quarter, we raised net proceeds of approximately $17.0 million from the sale of additional... More