Durect Having Great Week with Painkiller News

From BioHealth Investor

Durect Corporation (DRRX) is having a great week so far.

The company inked a deal with Danish pharmaceutical company Nycomed to commercialize Posidur, a local anesthetic for post-op pain, in Europe. This deal could be worth over $200 million in royalties and upfront payments to Durect if Posidur reaches certain milestones. The drug is currently in various phase II trials, and is expected to enter phase III studies next year.

Durect also recieved some great news as its abuse-free opioid painkiller technology licensed to Pain Therapeutics showed positive results in a phase I trial. Pain Therapeutics is a BioHealth Investor Stock Pick.

Durect insiders were expecting great things to come as company officers were buying shares back in August and September.

Shares of Durect jumped more than 20% on Thursday with over 8 million shares trading hands. The 3-month daily average volume is just over 400 thousand shares.

Sponsored: Want to Retire Early? Here’s a Great First Step

Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?

Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.

Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.