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DURECT Announces Closing of Public Offering of Common Stock
Date:11/13/2013

CUPERTINO, Calif., Nov. 13, 2013 /PRNewswire/ -- DURECT Corporation (Nasdaq: DRRX) today announced the closing 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.  All of the shares in the offering were sold by DURECT.  DURECT granted the underwriters a 30-day option to purchase up to an aggregate of 1,071,429 additional shares and the underwriters exercised this option in full prior to the closing.  As a result, DURECT sold a total of 8,214,287 shares of its common stock in this offering.  The gross proceeds to DURECT from this offering were approximately $11.5 million, before deducting underwriting discounts and commissions, and other estimated offering expenses payable by DURECT. 

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

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

Felix Theeuwes, DURECT's Chairman and Chief Scientific Officer, purchased 714,285 shares of the 8,214,287 shares of common stock in the 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, Att
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