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DURECT Corporation Announces Fourth Quarter and Year End 2007 Financial Results
Date:2/5/2008

1,963 2,052

Prepaid expenses and other current assets 1,904 1,744

Total current assets 64,788 75,799

Property and equipment, net 7,658 7,451

Goodwill 6,399 6,399

Intangible assets, net 180 111

Long-term investments 3,697 10,472

Restricted Investments 1,020 1,284

Other non-current assets 278 969

Total assets $84,020 $102,485

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Accounts payable $1,834 $864

Accrued liabilities 5,499 4,522

Contract research liability 1,946 1,624

Interest payable on convertible notes 61 97

Deferred revenue, current portion 5,728 5,348

Equipment financing obligations, current portion 38 34

Bonds payable, current portion 225 210

Convertible subordinated notes due 2008 23,599 -

Other short-term liabilities 158 -

Total current liabilities 39,088 12,699

Bond payable and equipment financing obligations,

noncurrent portion 343 606

Convertible subordinated notes due 2008 - 37,337

Deferred revenue, noncurrent portion 9,268 14,507

Other long-term liabilities 740 304

Stockholders' equity
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SOURCE DURECT Corporation
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