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DURECT Corporation Announces First Quarter 2013 Financial Results and Update of Programs
Date:5/2/2013

lude, but are not limited to, the risk that Pfizer will discontinue development of REMOXY, the risk of adverse decisions by regulatory agencies, including requests for additional information or product non-approval or non-acceptance of our POSIDUR or other NDA submissions, delays and additional costs due to requirements imposed by regulatory agencies, potential adverse effects arising from the testing or use of our drug candidates, the potential failure of our clinical trials to meet their intended endpoints, our potential failure to maintain our collaborative agreements with third parties or consummate new collaborations and risks related to our (and our third party collaborators where applicable) difficulty or failure to obtain approvals from regulatory agencies with respect to our development activities and products, or ability to design, enroll, conduct and complete clinical trials, complete the design, development, and manufacturing process development of product candidates, manufacture and commercialize product candidates, obtain marketplace acceptance of product candidates, avoid infringing patents held by other parties and secure and defend patents of our own, and manage and obtain capital to fund operations and expenses. Further information regarding these and other risks is included in DURECT's Form 10-K for the fiscal year ending on December 31, 2012 under the heading "Risk Factors."

 

 DURECT CORPORATION CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (in thousands, except per share amounts) (Unaudited)Three months ended March 31, 20132012Collaborative research and development and other revenue

$
913$38,328Product revenue, net

3,2402,857Total revenues

4,15341,185Operating expenses:Cost of product revenues 

1,6581,461Research and development

4,7895,634Selling, general and administrative 

2,9013,280Total operating ex
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