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Durect Corp. (DRRX)
NASDAQ:DRRX
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Earnings Data
Report Date
Mar 11, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.02Last Year’s EPS
-$0.1Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 13, 2024
|% Change Since: -25.70%
|Next Earnings Date:Mar 11, 2025
Earnings Call Sentiment|Neutral
The earnings call highlights several positive developments, particularly around the preparation and regulatory progress for the Phase III trial of larsucosterol. However, the termination of the POSIMIR licensing agreement and the urgent need for funding to proceed with critical trials present significant challenges. Overall, the sentiment is cautiously optimistic with a focus on future potential balanced by immediate financial needs.Company Guidance
In the third quarter of 2024, DURECT Corporation reported total revenues of $1.9 million, an increase from $1.7 million in the same quarter of 2023, attributed to higher product sales despite decreased collaboration revenues. The company saw a significant reduction in R&D expenses, which fell to $2.2 million from $7.2 million the previous year, primarily due to lower clinical trial and employee-related costs. SG&A expenses also decreased to $3.2 million from $3.8 million. Cash and investments totaled $10.5 million as of September 30, 2024, with a cash utilization of $5.3 million in the quarter. DURECT anticipates that its cash reserves will sustain operations through Q1 2025. The termination of the licensing agreement for POSIMIR by Innocoll is not expected to materially affect the company's finances, as no royalty revenues were recognized in the quarter.Increased Revenue
Total revenues in the third quarter were $1.9 million, an increase from $1.7 million in the same quarter of 2023, primarily due to an increase in product sales.
Successful FDA Engagement
Agreement reached with the FDA on key aspects of Phase III trial design for larsucosterol in alcohol-associated hepatitis (AH), leveraging breakthrough therapy designation.
Phase III Trial Preparations
Preparations for the Phase III trial are well underway, with site onboarding and CRO selection completed. Positive results from earlier trials noted, with up to 58% reduction in 90-day mortality in U.S. patients.
Cost Reductions
R&D expenses decreased to $2.2 million from $7.2 million, and SG&A expenses decreased to $3.2 million from $3.8 million compared to the prior year, due to lower employee-related and other costs.
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DRRX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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DRRX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 13, 2024 | $1.21 | $1.12 | -7.44% |
| Aug 13, 2024 | $1.41 | $1.33 | -5.67% |
| May 13, 2024 | $1.07 | $0.92 | -14.02% |
| Mar 27, 2024 | $1.34 | $1.21 | -9.70% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Durect Corp. (DRRX) report earnings?
Durect Corp. (DRRX) is schdueled to report earning on Mar 11, 2025, TBA Not Confirmed.
What is Durect Corp. (DRRX) earnings time?
Durect Corp. (DRRX) earnings time is at Mar 11, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is DRRX EPS forecast?
DRRX EPS forecast for the fiscal quarter 2024 (Q4) is -$0.02.
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