Durect reports Q3 EPS (1c), consensus 2c
Reports Q3 revenue $10.8M, consensus $15.7M. At September 30 cash and investments were $57.1M, compared to cash and investments of $34.5M at December 31, 2018. The company commented, "Recent progress continues on both our proprietary and partnered clinical development programs, led by the completion of the DUR-928 Phase 2a alcoholic hepatitis study. The strength of the data from this study is underscored by its selection as an oral late-breaking presentation and for inclusion in the 'Best of The Liver Meeting' summary slide deck at the upcoming Liver Meeting 2019. In addition, we completed enrollment in the DUR-928 psoriasis trial and passed the half way point for enrollment in the DUR-928 NASH trial. In September we earned a $10M development milestone under our exclusive license agreement with Gilead for a long-acting injectable HIV investigational product utilizing DURECT's SABER technology."