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DURECT Corporation Secures $50 Million Committed Equity Financing Facility
Date:7/1/2010

CUPERTINO, Calif., July 1 /PRNewswire-FirstCall/ -- DURECT Corporation (Nasdaq: DRRX) announced today that it has secured a committed equity financing facility under which it may sell up to $50 million of its registered common stock to Azimuth Opportunity Ltd. for a term of 24 months.  DURECT is not obligated to utilize any of the $50 million facility.  DURECT did not pay a commitment fee or issue any warrants to secure this facility.

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DURECT will determine, at its sole discretion, the timing, the dollar amount, and the floor price per share of any drawdown under this facility, subject to certain defined limitations.  Any shares sold under this facility will be sold pursuant to a shelf registration statement declared effective by the Securities and Exchange Commission on May 11, 2009, as amended.

"DURECT has been able to maintain a strong financial position and modest cash burn rate while building our late stage pipeline of product candidates through our l
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SOURCE DURECT Corporation
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