Navigation Links
DURECT Announces Pricing of Public Offering of Common Stock
Date:11/8/2013

CUPERTINO, Calif., Nov. 8, 2013 /PRNewswire/ -- DURECT Corporation (Nasdaq: DRRX) today announced the pricing of an underwritten public offering of 7,142,858 shares of its common stock, offered at a price of $1.40 per share to the public.  The gross proceeds to DURECT from this offering are expected to be approximately $10.0 million, before deducting underwriting discounts and commissions, and other estimated offering expenses payable by DURECT.  All of the shares in the offering are to be sold by DURECT.  The offering is expected to close on or about November 13, 2013, subject to the satisfaction of customary closing conditions.  DURECT has granted the underwriters a 30-day option to purchase up to an aggregate of 1,071,429 additional shares.

(Logo: http://photos.prnewswire.com/prnh/20020717/DRRXLOGO)

Stifel is acting as sole book-running manager for the offering and Janney Montgomery Scott is acting as co-manager. 

Felix Theeuwes, our Chairman and Chief Scientific Officer, has agreed to purchase 714,000 shares of the 7,142,858 shares of common stock in this offering, at the public offering price, for an aggregate purchase price of approximately $1.0 million.

A shelf registration statement on Form S-3 relating to the public offering of the shares of common stock described above was filed with the Securities and Exchange Commission (the "SEC") and is effective.  A final prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC's web site at www.sec.gov.  When available, copies of the final prospectus supplement may also be obtained from Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104, or by calling (415) 364-2500.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About DURECT Corporation

DURECT is a specialty pharmaceutical company developing innovative drugs for pain and chronic diseases, with late-stage development programs including REMOXY®, POSIDUR, ELADUR®, and TRANSDUR®-Sufentanil.  DURECT's proprietary oral, transdermal and injectable depot delivery technologies enable new indications and superior clinical/commercial attributes such as abuse deterrence, improved convenience, compliance, efficacy and safety for small molecule and biologic drugs.

NOTE: POSIDUR, SABER®, ORADUR®, TRANSDUR® and ELADUR® are trademarks of DURECT Corporation. Other referenced trademarks belong to their respective owners.  REMOXY, POSIDUR, ELADUR, TRANSDUR-Sufentanil, ORADUR-Methylphenidate and Relday are drug candidates under development and have not been approved for commercialization by the U.S. Food and Drug Administration or other health authorities.


'/>"/>
SOURCE DURECT Corporation
Copyright©2012 PR Newswire.
All rights reserved

Related biology technology :

1. Keryx Biopharmaceuticals, Inc. Announces Upcoming Poster Presentations of Zerenex™ (Ferric Citrate) at the Upcoming American Society of Nephrology Kidney Week 2011 Annual Meeting
2. VaxyGen Assay Services, LLC Announces Launch of Custom Bioassay Services and Operations
3. Sequenom Announces Participation at the Lazard Capital Markets 8th Annual Healthcare Conference
4. ACORN Research, LLC Announces Partnership with AdeptBio, LLC
5. GeoVax Labs, Inc. Announces Nine Month 2011 Financial Results
6. WuXi PharmaTech Announces Third-Quarter 2011 Results
7. Chimerix Announces Late-Breaking Poster Presentation at Kidney Week 2011 Annual Meeting
8. Spherix Announces Third Quarter Financial Results
9. Modern Mobility Aids, Inc. Announces November 30, 2011 Closing of Lumigene Acquisition
10. MedImmune Announces Winners of Its 6th Annual Global Abstract Competition
11. Nile Therapeutics Announces Top-Line Results in Clinical Trial Evaluating the Subcutaneous Infusion of Cenderitide, Meets Primary Endpoint
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/19/2017)... ... January 19, 2017 , ... FireflySci Inc. is a go-getter type of ... growth is accounted to two main factors. The first is the amazing customer ... vendors supplying FireflySci products all around the world. , 2016 was a tremendous sales ...
(Date:1/19/2017)... Acupath Laboratories, Inc., a leading provider of ... Executive Committee that will guide the company,s vision and ... Cucci , a 15-year veteran of the anatomic pathology ... to Chief Sales Officer .  Prior to joining ... sales leadership roles at several leading lab industry organizations ...
(Date:1/18/2017)... --  Boston Biomedical , an industry leader in the ... pathways, will feature data from two clinical studies for ... Gastrointestinal Cancers Symposium, held from January 19-21, in ... is an orally-administered investigational agent designed to inhibit cancer ... cells (CSCs) possess the property of stemness – the ...
(Date:1/18/2017)... (PRWEB) , ... January 18, 2017 , ... ... that Dr. Dante Leven successfully implanted SpineFrontier’s A-CIFT™ Solofuse-P™. The operation took place ... in Valley Stream, NY. The procedure was an anterior cervical discectomy and fusion ...
Breaking Biology Technology:
(Date:12/15/2016)... and BADEN-BADEN, Germany , December 15, ... global financial services provider, today announced an agreement with NuData ... biometrics, to join forces. The partnership will enable clients to ... in compliance with local data protection regulation. ... In order to provide ...
(Date:12/15/2016)... AUBURN HILLS, Mich. , Dec. 15, 2016 /PRNewswire/ ... simply unlocking car doors or starting the engine. Continental ... 2017 in Las Vegas . Through ... PASE (Passive Start and Entry) and biometric elements, the ... the field of vehicle personalization and authentication. ...
(Date:12/8/2016)... 8, 2016  Singulex, Inc., the leader in Next ... into a license and supply agreement with Thermo Fisher ... provides Singulex access to Thermo Scientific BRAHMS PCT (Procalcitonin), ... is used to diagnose systemic bacterial infection and sepsis ... to aid in assessing the risk of critically ill ...
Breaking Biology News(10 mins):