DURECT Corporation Announces Sale of ALZET® Product Line to Lafayette Instrument Co. for $17.5 Million [Yahoo! Finance]
DURECT Corporation (DRRX)
Last durect corporation earnings: 3/3 04:05 pm
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Source: Yahoo! Finance
of epigenetic therapies to transform the treatment of serious and life-threatening conditions such as acute organ injury, today announced the sale of its ALZET ® line of osmotic pumps to Lafayette Instrument Co. (LIC), a portfolio company of Branford Castle Partners II, L.P., a North-American focused private equity firm. Under the terms of the agreement, LIC paid DURECT $17.5 million in exchange for certain assets and liabilities associated with the ALZET product line. Simultaneous with this transaction, DURECT has paid off all remaining obligations under the term loan agreement with Oxford Finance LLC. "As DURECT continues to prioritize developing larsucosterol for alcohol-associated hepatitis (AH), we have determined that the ALZET product line is no longer aligned with our long-term strategic priorities," said James E. Brown , D.V.M., President and Chief Executive Officer of DURECT. "This transaction strengthens our cash position and extends our cash runway through the first ha
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News
- DURECT Co. (NASDAQ: DRRX) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- DURECT Co. (NASDAQ: DRRX) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- DURECT Co. (NASDAQ: DRRX) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- Is BellRing Brands (BRBR) Stock Outpacing Its Medical Peers This Year? [Yahoo! Finance]Yahoo! Finance
- DURECT Co. (NASDAQ: DRRX) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
DRRX
Earnings
- 11/13/24 - Beat
DRRX
Analyst Actions
- 11/14/24 - HC Wainwright
DRRX
Sec Filings
- 11/29/24 - Form 8-K/A
- 11/25/24 - Form 8-K
- 11/19/24 - Form SC
- DRRX's page on the SEC website