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DURECT Corporation Announces Fourth Quarter and Year End 2010 Financial Results
Date:3/2/2011

ndpoints, our potential failure to maintain our collaborative agreements with third parties or consummate new collaborations and DURECT's (and that of its third party collaborators where applicable) difficulty or failure to obtain approvals from regulatory agencies with respect to its development activities and products, or ability to design, enroll, conduct and complete clinical trials, complete the design, development, and manufacturing process development of the referenced product candidates, manufacture and commercialize the referenced product candidates, obtain marketplace acceptance of the referenced product candidates, avoid infringing patents held by other parties and secure and defend patents of our own, and manage and obtain capital to fund its growth, operations and expenses. Further information regarding these and other risks is included in DURECT's Form 10-Q on November 4, 2010 under the heading "Risk Factors."

DURECT CORPORATION STATEMENTS OF OPERATIONS DATA(in thousands, except per share amounts)(unaudited)Three months ended Year ended December 31, December 31, 201020092010 2009  (1)Collaborative research and development and other revenue

$  5,929$  2,802$  20,091$  12,347Product revenue, net

2,5672,07611,50012,113Total revenues

8,4964,87831,59124,460Operating expenses:Cost of revenues (2)

1,1778164,2755,311Research and development (2)

9,4479,26736,21434,801Selling, general and administrative (2)

4,0453,43214,93715,020Total operating expenses

14,66913,51555,42655,132Loss from operations

(6,173)(8,637)(23,835)(30,672)Other income (expense):Interest and other income

85853943420Interest and other expense

(1)(5)(6)(36)Net other income

85748937384Net loss

$ (5,316)$ (8,589)$ (22,898)$ (30,288)Net loss per share, basic and diluted

$   (0.06)$   (0.10)$
(0.26)$
(0.36)Shares used in computing basic and diluted net los
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