| 2019-07-22 11:05:30|
DRRX, GILD 11:05 07/22 07/22/19
Gilead pact offers validation to Durect technology, says H.C. Wainwright
After Durect (DRRX) announced the "positive surprise" that Gilead Sciences (GILD) has licensed exclusive worldwide rights to use the company's SABER technology for HIV and hepatitis B virus development, H.C. Wainwright analyst Ed Arce said he believes this collaboration provides "substantial validation" to the SABER platform. The deal economics also provide Durect with a cash runway and flexibility, said Arce, who thinks other SABER deals could be coming. He keeps a Buy rating and $3.50 price target on Durect shares.