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DURECT Corporation Announces Second Quarter 2011 Financial Results and Update of Programs
Date:8/4/2011

chotic market.  Zogenix will be responsible for the clinical development and commercialization of a proprietary, long-acting (once-monthly) injectable formulation of risperidone using DURECT's SABER controlled-release formulation technology in combination with Zogenix's DosePro® needle-free, subcutaneous drug delivery system.  DURECT will be responsible for non-clinical, formulation and CMC development activities and will be reimbursed by Zogenix for its research and development efforts on the product.  The existing long-acting injectable risperidone product, which achieved $1.5 billion in global net sales in 2010, requires twice-monthly, 2 mL intramuscular injections with a 21 gauge or larger needle.  Zogenix expects to initiate clinical studies for Relday in patients with schizophrenia in early 2012.  Under the terms of the agreement, Zogenix made an upfront payment of $2.25 million to DURECT in July, with the potential to pay DURECT up to an additional $103 million in future clinical, regulatory and commercial milestone payments based upon successful achievement of certain events.  Zogenix will have exclusive global rights to commercialize Relday and will pay DURECT a mid single-digit to low double-digit percentage royalty on net sales.


  • Feasibility Projects and Other Activities.  During the second quarter of 2011, we continued work on several feasibility projects as a means of demonstrating that our technologies can achieve the drug delivery objectives set forth by our collaborators and are worthy of further development.  The Zogenix program, described above, was one such project which has matured into a development and license agreement.Earnings Conference CallA live audio webcast of a conference call to discuss second quarter 2011 results will be broadcast live over the internet at 4:30 p.m. Eastern Time on August 4 and is available by accessing DURECT's homepage at


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